Banyan Drills 70.7 Metres of 1.06 G/T Au, Including 15.1 Meters of 3.05 G/T, at the Aurex-Mcquesten GOLD Project, Yukon
BANYAN DRILLS 70.7 METRES OF 1.06 G/T AU, INCLUDING 15.1 METERS OF 3.05
G/T, AT THE AUREX-MCQUESTEN GOLD PROJECT, YUKON
October 24, 2018 TSX-V: BYN
BANYAN GOLD CORP. (“Banyan” or “The Company”), is pleased to announce analytical results from the
first four holes of the recently completed twelve-hole diamond drill campaign on the Aurex -McQuesten
Property, Central Yukon.
Assays from the first four of twelve diamond drill holes , all of which targeted the down dip extension of
the McQuesten Gold Zone on the Aurex-McQuesten Property are presented in the summary table below.
The Mc Questen Gold Zone represents the surface expression of an approximately 90 metre thick
calcareous package that transects the area and is interpreted to host to gold mineralization preferentially
within retrograde skarn altered horizons.
Drill Hole From (m) To (m) Interval (m) Au (ppm)
MQ-18-30 10.1 80.8 70.7 1.06
including 19.8 20.9 1.1 1.79
including 32.0 34.7 2.7 3.52
including 41.2 43.3 2.2 1.67
including 48.7 49.9 1.2 1.82
including 52.8 55.8 3.0 0.92
including 57.3 58.8 1.5 1.22
including 65.7 80.8 15.1 3.05
MQ-18-31 12.2 74.7 62.5 0.21
including 27.1 28.7 1.6 1.18
including 62.4 64.0 1.6 1.45
MQ-18-32 3.1 71.1 68.1 0.30
including 18.7 21.4 2.8 1.36
including 41.1 47.3 6.2 0.86
and 96.9 98.2 1.3 2.83
MQ-18-33 25.8 106.0 80.3 0.32
including 59.4 63.8 4.4 1.09
Including 75.3 76.8 1.5 1.70
“The primary goal of the 2018 Aurex -McQuesten Exploration program was to drill test the newly
developed geologic model crea ted from detailed review of all historic Aurex-McQuesten drill data
combined with results from last season’s inaugural Banyan drill holes on the Property ”, stated Tara
Christie, President and CEO. “ Banyan’s geological model interpreted a 900 metre long by 100 metre
calcareous package with the potential to host gold mineralization averaging close to 0.5 g/t Au and the
2018 drill program was designed to test this theory. T he results from the first four drill holes from this
program achieved this goal and have demonstrated the potential for a near-surface gold mineralized
target with economic potential.”
Completion of 2018 Exploration Program – Aurex-McQuesten Gold Project
The 2018 drill program at Aurex-McQuesten consisted of twelve diamond drill holes totaling 1,414 metres
of NTW sized core completed from 11 drill pads. The 2018 drill program targeted a 500 metre wide section
of the McQu esten Gold Zone, testing its on -strike extension potential following upon a gold -in-soil
anomaly first identified in a 2017 Banyan soil survey north of the McQuesten Gold Zone. The first eight
holes (MQ-18-30 to MQ-18-37) were designed to infill a 500 metre wide section of the down dip projection
of the McQuesten Gold Zone. These holes were on section with historic holes and together tested a
volume of ~12 million metre3 of the interpreted mineralized block with a nominal drill-section spacing of
100m and nominal in section drill spacing of 50 metres.
The final four holes of the Aurex-McQuesten 2018 program were designed to test:
1) A gold-in-soil anomaly identified in the 2017 soil survey north of the McQuesten Gold Zone
(MQ-18-38) and;
2) The on strike extension of the McQuesten Gold Zone east of the main 500 metre wide
calacerous block tested by the first eight holes (MQ-18-39 to MQ-18-41).
In addition to the diamond drilling, one trench (108 meters) was completed in the McQuesten Gold Zone.
Additionally, a property wide soil survey was carried out covering approximately 12 km 2 with line and
station spacing of 100m and 25m respectively.
Detailed plan maps and drillhole sections will be made available on the Company’s website.
Technical Information
The technical information in this news release has been reviewed and approved by Paul D. Gray, P.Geo.,
a Qualified Person as defined by NI 43-101.
About Banyan Gold
Banyan is a growth stage gold exploration company whose flagship property, the Hyland Gold Project, is
approximately 70km NE of Watson Lake, Yukon, along the southeast end of the Tintina Gold Belt.
The Hyland Main Zone Indicated Gold Resource Estimate, prepared in accordance with NI 43-101, at a 0.3
g/t gold equivalent cutoff, contains 8.6 million tonnes grading 0.85 g/t AuEq for 236,000 AuEq ounces with
an Inferred Mineral Resource of 10.8 million tonnes grading 0.83 g/t AuEq for 288,000 AuEq ounces.
Cut-off Grade
(AuEq g/t) In situ Tonnes
Au Ag AuEq
Grade
(g/t) Ozs Grade
(g/t) Ozs Grade
(g/t) Ozs
Indicated
0.3 8,637,000 0.78 216,000 7.04 1,954,000 0.85 236,000
Inferred
0.3 10,784,000 0.77 266,000 5.32 1,845,000 0.83 288,000
(1) Mineral resources which are not mineral reserves do not have demonstrated economic viability. All figures are rounded
to reflect the relative accuracy of the estimate.
(2) Mineral resources are reported at a cut-off grade of 0.3 g/t AuEq. AuEq grade is based on $1,350.00/oz Au, $17.00/oz
Ag and assumes a 100% recovery. The AuEq calculation does not apply any adjustment factors for difference in
metallurgical recoveries of gold and silver. This information can only be derived from definitive metallurgical testing which
has yet to be completed.
The 9,230 ha Aurex-McQuesten Property, in close proximity to Victoria Gold's Eagle Project and
Alexco Resource's Keno Hill Silver District, is highly prospective for structurally controlled,
intrusion related gold-silver mineralization in relation to quartz monzonite dykes of the Tombstone
intrusive suite.
Banyan trades on the TSX -Venture Exchange under the symbol “BYN”. For more information,
please visit the corporate website at www.BanyanGold.com or contact the Company.
ON BEHALF OF BANYAN GOLD CORPORATION
(signed) "Tara Christie"
Tara Christie
President & CEO
For more information, please contact:
Tara Christie David Rutt
Tel: (888) 629-0444 Tel: (888) 629-0444
Email: [email protected] Email: [email protected]
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defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information
contained herein. This news release contains forward-looking information, which is not comprised of historical facts.
Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results,
performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking
information. Forward looking information in this news release includes, but is not limited to, Banyan’s objectives, goals
or future plans, statements regarding exploration expectations, exploration or development plans and mineral resource
estimates. Factors that could cause actual results to differ materially from such forward-looking information include, but
are not limited to, uncertainties inherent in resource estimates , capital and operating costs varying significantly from
estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs
of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in
commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and
development industry, enhanced risks inherent to conducting business in any jurisdiction, and those risks set out in
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preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on
such information, which only applies as of the date of this news release, and no assurance can be given that such
events will occur in the disclosed time frames or at all. Banyan disclaims any intention or obligation to update or revise
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required by law.
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