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About Banyan Gold Corp (BYAGF)
Banyan Gold Corp is a Canadian mineral exploration company dedicated to the discovery and development of gold resources in the Yukon Territory, a region renowned for its mining-friendly policies and rich mineral endowment. The company’s flagship asset, the AurMac Project, boasts an inferred mineral resource estimate of 7.0 million ounces of gold, making it one of the largest potentially open-pit mineable gold resources in North America. Banyan Gold is listed on the TSX Venture Exchange under the symbol "BYN" and is quoted on the OTCQB Venture Market as "BYAGF."
Core Business and Value Proposition
Banyan Gold focuses on advancing its gold exploration projects to unlock value for shareholders and stakeholders. The company’s strategy emphasizes the development of near-surface, road-accessible deposits that offer lower exploration and development costs. With a strong commitment to environmental stewardship and community engagement, Banyan Gold aligns its operations with industry-best practices and regulatory standards, including compliance with National Instrument 43-101 (NI 43-101) guidelines for mineral resource reporting.
Flagship Project: AurMac
The AurMac Project is located in the Mayo Mining District of Yukon, approximately 40 kilometers northeast of the village of Mayo and adjacent to two producing mines: Victoria Gold's Eagle Gold Mine and Hecla Mining's Keno Hill Silver Mine. Spanning 173 square kilometers, AurMac benefits from existing infrastructure, including all-season road access, a 3-phase powerline, and proximity to hydroelectric power stations. The project comprises two primary deposits, the Airstrip and Powerline Deposits, both characterized by near-surface mineralization, which supports cost-effective open-pit mining.
Recent exploration programs at AurMac have focused on resource expansion, infill drilling, and metallurgical studies. The company has demonstrated robust gold recoveries through conventional processing methods, including Carbon-in-Leach (CIL) and flotation, further enhancing the project's economic viability. The ongoing exploration and technical work aim to support a Preliminary Economic Assessment (PEA) by 2025.
Additional Assets
In addition to AurMac, Banyan Gold holds the Hyland Gold Project, located in the southeastern Yukon. This sediment-hosted, structurally controlled gold deposit covers over 125 square kilometers and is accessible via existing gravel roads. The Hyland Project provides Banyan with additional exploration upside and diversification within the prolific Tintina Gold Belt.
Competitive Advantages
- Strategic Location: Proximity to operational mines and existing infrastructure reduces exploration and development costs.
- Significant Resource Base: The 7.0 million-ounce inferred gold resource positions AurMac as a major asset in the North American gold sector.
- Mining-Friendly Jurisdiction: Operating in Yukon provides regulatory stability and access to skilled labor.
- Experienced Leadership: Banyan Gold’s management team combines technical expertise with a track record of successful mineral exploration and development.
Industry Context
Banyan Gold operates within the gold exploration and mining industry, which is influenced by factors such as gold price trends, geopolitical stability, and advancements in mining technology. The company’s focus on near-surface, road-accessible deposits aligns with industry demand for cost-effective and environmentally responsible mining solutions. By leveraging its strategic location and robust resource base, Banyan Gold is well-positioned to capitalize on the growing demand for gold as both an investment and industrial commodity.
Commitment to Sustainability
Banyan Gold is committed to sustainable development practices, including minimizing its environmental footprint and fostering strong relationships with local communities and First Nations. The company’s environmental baseline studies and community engagement initiatives underscore its dedication to responsible resource development.
Conclusion
Banyan Gold Corp represents a compelling opportunity in the gold exploration sector, combining a significant resource base, strategic location, and a clear path to project advancement. With its flagship AurMac Project and additional exploration upside from the Hyland Gold Project, Banyan Gold is poised to deliver long-term value to its shareholders while contributing to the sustainable development of Canada’s Yukon Territory.
Banyan Gold Corp. announced promising results from its 2022 diamond drilling program at the Powerline Deposit on the AurMac Property, with highlights including:
- 177.9 m of 0.47 g/t Au in DDH AX-22-251
- 114.1 m of 0.52 g/t Au in DDH AX-22-252
- 40.5 m of 0.86 g/t Au in DDH AX-22-257
These results indicate a consistent expansion of the mineralized footprint. The company, operating with four drills, aims to provide a resource update in 2023 after incorporating these assays into their geological model.
Banyan Gold Corp has appointed Jason Neal as an advisor, bringing his extensive experience in mining and investment banking. Neal's background includes leadership roles at G Mining Ventures and Kirkland Lake Gold. The company plans to enhance exploration efforts at its AurMac Property, which boasts an updated resource estimate of 3,990,000 ounces of gold. Additionally, Banyan has granted 425,000 stock options with an exercise price of $0.45 per share. The company remains focused on advancing its projects in the Yukon region.
Banyan Gold Corp (OTCQB: BYAGF) filed a Technical Report supporting its Updated Mineral Resource Estimate for the AurMac Property on June 29, 2022. This report, prepared by qualified professionals, reveals an inferred mineral resource of 3,990,000 ounces of gold, located in three deposits: Airstrip, Powerline, and Aurex Hill. The report is accessible on SEDAR. Additionally, exploration drilling has progressed, with over 26,000 meters completed out of a planned 60,000 meters for 2022.
Banyan Gold Corp has completed a Royalty Purchase Agreement from the Estate of Jim McFaull, acquiring 100% royalty interest on 97 claims in the Aurex Claim Block of the AurMac Property. This agreement removes a royalty burden, facilitating advancement of the AurMac project, which hosts significant mineral resources totaling 3,990,000 ounces of gold. Additionally, a scholarship dedicated to the late Jim McFaull will be established, providing $5,000 annually for students in geology and mining.
Banyan Gold Corp has announced a successful $17 million private placement, increasing from a previously announced $16.5 million. The funding, which is pending TSX-V approval, will support ongoing development at the AurMac Property, including drilling and exploration. The financing comprises 16,210,500 Charity Flow Through Shares at $0.63, 5,334,000 Flow Through Shares at $0.55, and 8,662,321 Shares at $0.45. The funds will primarily be used for mineral exploration, which includes over 60,000 metres of diamond drilling planned for 2022-23.
Banyan Gold Corp has announced a fully subscribed non-brokered private placement, aiming to raise up to $16.5 million in gross proceeds. The placement includes 16,210,500 Charity Flow Through Shares priced at $0.63 each, 4,974,000 Flow Through Shares at $0.55, and 7,887,744 Shares at $0.45. Funds will support the company’s exploration and development at the AurMac Property, targeting over 60,000 metres of drilling. The transaction requires TSX Venture Exchange approval and is expected to close within 30 days.
Banyan Gold Corp. announced an updated mineral resource estimate for its AurMac Property, revealing a total inferred resource of 3,990,000 ounces of gold. The estimate highlights three deposits: Airstrip, Powerline, and Aurex Hill, all accessible by road. The company increased the inferred resources by over 3 million ounces through 40,000 metres of drilling. Future drilling plans include 30,000 metres in 2022 to further enhance the resource estimate. The effective date for this resource estimate is May 13, 2022.
Banyan Gold Corp. announced positive assay results from its 2022 drilling program at the Powerline deposit on the AurMac Property. Highlights include:
- 32.1 metres of 0.78 g/t Au in DDH AX-22-205
- 34.8 metres of 1.07 g/t Au in DDH AX-22-206
- 33.9 metres of 0.74 g/t Au in DDH AX-22-207
- 22.5 metres of 1.07 g/t Au in DDH AX-22-208
Over 17,000 metres of drilling have been completed, expanding mineralization at Powerline. The company expects ongoing results throughout 2022.
Banyan Gold Corp. announced the final analytical results from its 2021 exploration program at the Powerline Deposit, AurMac Property. The results show significant gold mineralization, with highlights including:
- 15.5 m of 1.31 g/t Au in DDH AX-21-181
- 34.5 m of 1.29 g/t Au in DDH AX-21-186
- 21.2 m of 3.02 g/t Au from surface in DDH AX-21-198
The results have prompted a large step-out drill program for 2022, enhancing the project's economic potential. Additionally, an option agreement amendment with Victoria Gold allows for increased flexibility in project timelines.
Banyan Gold Corp (TSXV:BYN)(OTCQB:BYAGF) announced the successful outcome of its 2022 annual general meeting held on March 31, 2022. All proposed resolutions, including the re-election of directors and the reappointment of auditors, were approved. A total of 56,152,197 shares were represented, showcasing significant shareholder involvement. Mark Ayranto did not seek re-election and is no longer the Chairman. Additionally, the company provided an update on its ongoing exploration program and safety measures against COVID-19. Banyan continues to focus on advancing its AurMac and Hyland projects in Yukon.
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