Banyan Gold Corp Announces High-Grade Gold Mineralization at AurMac Project
Banyan Gold Corp, a Canadian mining company, has announced the intersection of high-grade gold mineralization at its AurMac Project in Yukon, Canada. The company’s recent drilling results have revealed significant gold deposits at approximately 350 meters vertical depth, extending the known mineralization at the Airstrip Deposit. This discovery has the potential to expand the project’s resource estimate and improve the overall economics of the mine.
The drilling results, which include 7.04 g/t Au over 6.0m and 1.93 g/t Au over 10.4m, demonstrate the potential for high-grade mineralization at depth. According to Tara Christie, President and CEO of Banyan Gold Corp, “High-grade mineralization in deep hole AX-25-817 highlights the promising exploration targets at depth, potentially associated with a deep-seated magmatic source for mineralization that our exploration vectoring indicates could be situated under Airstrip.” Duncan Mackay, VP Exploration, added, “These holes show there is potential for additional mineralization in multiple calcareous metasedimentary horizons, and very-high grade mineralization potentially extending to depth at Airstrip.”
Drilling Results and Geological Context
The drilling results are part of an ongoing exploration program at the AurMac Project, which aims to expand the known mineralization and improve the project’s resource estimate. The Airstrip Deposit is one of several mineralized zones within the project, which also includes the Powerline Deposit. The geological setting of the project is characterized by a complex sequence of metamorphic and intrusive rocks, which have created a favorable environment for gold mineralization.
Figure 1: Plan map of highlight gold intersections at AurMac. Deep hole AX-25-817 was drilled from Powerline to extend down through Airstrip Mineralization.
The drilling program has been designed to test the extensions of the known mineralization and to explore new targets within the project area. The results to date have been encouraging, with several high-grade intersections reported, including 29.30 g/t Au over 1.4m in hole AX-25-799.
Mineral Resource Estimate and Project Overview
The AurMac Project has a current Mineral Resource Estimate of 2.274 million ounces of gold (Indicated) and 5.453 million ounces of gold (Inferred). The project is located in the Traditional Territory of First Nation of Na-Cho Nyäk Dun, in Canada’s Yukon Territory. The project area is accessible by road and has a 3-phase powerline, existing power station, and cell phone coverage.
Figure 2: Cross-section 467350mE in Central Powerline and Airstrip. High-grade mineralization in AX-25-817 has potential as a deep target below the existing Powerline Mineral Resource Estimate (“MRE”) and conceptual pit.
The company also holds the Hyland Gold Project, located 70 km Northeast of Watson Lake, Yukon, and the Nitra Gold Project, a grassroots exploration project located in the Mayo Mining district. Banyan Gold Corp trades on the TSX-Venture Exchange under the symbol “BYN” and is quoted on the OTCQB Venture Market under the symbol “BYAGF”.
Conclusion and Future Outlook
The recent drilling results at the AurMac Project demonstrate the potential for high-grade gold mineralization at depth, which could lead to an expansion of the project’s resource estimate. The company’s ongoing exploration program is designed to test the extensions of the known mineralization and to explore new targets within the project area. With a strong management team and a solid financial position, Banyan Gold Corp is well-positioned to advance the AurMac Project and create value for its shareholders.
For more information, please visit the corporate website or contact the Company. You can also read the original press release Here
Smart Tip for Readers
When evaluating a mining company’s potential, consider the quality of its management team, the strength of its financial position, and the results of its ongoing exploration program. It’s also essential to stay up-to-date with the latest news and developments in the industry, as this can impact the company’s stock performance and overall success.
