Banyan Expands Mineralized Strike Length of the Airstrip Zone to >1km, Drills 76.9 Metres of 0.61 G/T GOLD; – Aurex-Mcquesten GOLD Project, Yukon
BANYAN EXPANDS MINERALIZED STRIKE LENGTH OF THE
AIRSTRIP ZONE TO >1km, DRILLS 76.9 METRES of 0.61 G/T GOLD; –
AUREX-MCQUESTEN GOLD PROJECT, YUKON
January 6, 2020 TSX-V: BYN
VANCOUVER, January 6, 2020- Banyan Gold Corp. (the "Company" or "Banyan") ( TSX-V:
BYN) is pleased to announce results from the final seven (7) diamond drillholes on the McQuesten
Airstrip Zone from the recently completed 3,385 metre (26 hole) Phase 2 diamond drill program
on the Company’s Aurex-McQuesten Gold Project near Mayo, Yukon . All together the Phase 2
Airstrip drilling campaign tested great than 1km of strike length of the newly defined Airstrip
mineralized zone.
Highlights from these drillholes include:
• 76.9 metres of 0.61 g/t Au in MQ-19-59
• 33.7 metres of 0.40 g/t Au in MQ-19-57
• 23.2 metres of 0.39 g/t Au in MQ-19-58
• 16.7 metres of 0.37 g/t Au in MQ-19-60
“These latest Phase 2 Airstrip Zone results continue to return long intervals of on and near-surface
gold mineralization within the interpreted mineralized zone and have upgraded our knowledge
and confidence in the deposit as we step out east along strike into areas never previously drilled.”,
stated Tara Christie, President and CEO of Banyan. “Combined historic and contemporary drilling
indicates that the consistent, daylighting and approximately 90 metre thick prospective lithological
package is preferentially mineralized with gold in excess of 1km of strike length and up to 350
metres down dip. The Airstrip Zone is open to the east, west and to depth”.
Phase 2 Airstrip Zone drilling was designed to expand the strike length of the mineralization of
Airstrip Block “1”, from its previously defined 500 metre extension to greater than 1 kilometre in
total. These seven holes, MQ-19-57 to MQ-19-63 together with previously announced drill holes
MQ-19-46 to MQ-19-56 and MQ-19-64 (See Company News Releases of: November 18th, 2019;
December 2, 2019 and; December 11 th, 2019) extend and infill Airstrip mineralization
approximately 400 metres east and 150 metres west of Block “1” of the Airstrip Zone Mineralized
trend and further validate the McQuesten Mineralization Geologic Model.
Highlights of Phase 2 Airstrip Zone diamond drill results:
• 50.7 metres of 0.46 g/t Au in MQ-19-46
• 74.2 metres of 0.48 g/t Au in MQ-19-47
• 89.4 metres of 0.43 g/t Au in MQ-19-48
• 36.2 metres of 0.61 g/t Au in MQ-19-49
• 38.0 metres of 0.43 g/t Au in MQ-19-50
• 106.7 metres of 0.63 g/t Au in MQ-19-52
• 98.0 metres of 0.71 g/t Au in MQ-19-54
• 53.3 metres of 0.31 g/t Au in MQ-19-55
• 74.5 metres of 0.47 g/t Au in MQ-19-56
• 76.9 metres of 0.61 g/t Au in MQ-19-59
• 33.7 metres of 0.40 g/t Au in MQ-19-57
• 23.2 metres of 0.39 g/t Au in MQ-19-58
• 16.7 metres of 0.37 g/t Au in MQ-19-60
Table 1: Highlighted Assay results from latest Airstrip Drillholes:
Hole ID From
(m)
To (m) Interval
(m)
Au (g/t)
MQ-19-57 13.5 47.2 33.7 0.40
Including 17.2 17.9 0.7 5.45
Including 34.5 36.0 1.5 0.99
Including 43.5 45.0 1.5 1.52
MQ-19-58 5.7 28.9 23.2 0.39
Including 25.0 26.5 1.5 1.73
Including 27.5 28.9 1.4 1.04
MQ-19-59 3.1 80.0 76.9 0.61
including 3.1 5.3 2.2 4.84
including 8.3 10.6 2.3 7.59
including 27.1 28.6 1.5 0.93
including 31.5 33.0 1.5 0.95
including 49.5 50.9 1.4 1.51
including 52.0 53.5 1.5 0.91
including 60.0 61.5 1.5 1.51
and 118.0 123.8 5.8 1.44
MQ-19-60 30.2 34.3 2.1 0.64
including 30.2 31.2 1.0 1.05
including 32.8 34.3 1.5 1.05
and 74.7 91.4 16.7 0.37
Including 80.8 82.2 1.4 1.36
MQ-19-61 47.9 69.1 21.12 0.20
*True widths are estimated to be greater than 90% of the reported intervals
Drillholes MQ-19-62 and MQ -19-63 targeted a previously undrilled area to the extreme east of
the Airstrip Zone, towards a lone historic drill hole (MQ -03-020) that intersected 43.5 metres of
0.29 g/t Au within a 156 meter wide calcareous package. No significant results were returned from
these holes, however the Airstrip Zone remains open to the east and more drilling is warranted in
this area.
Sections and plan maps of results will be made available on the Company website.
Results from the 7 diamond drill holes at the Powerline target are pending.
About Aurex-McQuesten
The Aurex-McQuesten property is just 40 km from Victoria Gold Corp.’s Eagle Gold mine and
adjacent to Alexco Resource Corp’s highly mineralized Keno Hill Silver. The Airstrip and
Powerline Zones are located just off the main Yukon Government highway between Mayo and
Keno. The property has numerous historic exploration road s and trails and has cell phone
coverage. The 3 -phase power line from the hydroelectric dam in Mayo passes through the
property, as well as, the switching station and spur power line to Victoria Gold. There is an existing
airstrip on the property and the Mayo airport is a 20 minute drive on the highway from the property.
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.
Analytical Method
All drill core and RC splits collected from the 2019 Aurex -McQuesten program were analyzed at
Bureau Veritas Minerals of Vancouver, B.C. utilizing the aqua regia digestion ICP-MS 36-element
AQ200 analytical package with FA450 50-gram Fire Assay with AAS finish for gold on all samples.
All core samples were split on -site at Banyan’s core processing facilities in Elsa, Yukon. Once
split, half samples were placed back in the core boxes with the other half of split samples sealed
in poly bags with one part of a three-part sample tag inserted within. All RC samples were split in
the field with a 3-tier riffle splitter with 87.5% of the sample being stored in a reject poly bag and
12.5% of the sample in a submittal poly bag. Once split, both poly bags were sealed with one part
of a three part sample tag inserted within. Samples were delivered by Banyan personnel or a
dedicated expediter to the Bureau Veritas, Whitehorse preparatory laboratory where samples are
prepared and then shipped to Bureau Veritas’s Analytic al laboratory in Vancouver, B.C. for
pulverization and final chemical analysis. A robust system of standards, ¼ core duplicates and
blanks, was implemented in the 2019 exploration drilling program and was monitored as chemical
assay data became available.
About Banyan Gold
Banyan Gold is focused on gold exploration projects that have the geological potential, size of
land package and proximity to infrastructure that is advantageous for a mineral project to have
potential to become a mine. Our Yukon based projects both fit th is model and our objective is to
gain shareholder value by advancing projects in our pipeline.
The Hyland Gold Project, located 70km NE of Watson Lake, Yukon, along the southeast end of
the Tintina Gold Belt is a sediment hosted, structurally controlled, intrusion related gold deposit,
with a large land package (over 125 sq. km), with the resource contained in the Main Zone area
(900x600m) daylighting at surface and numerous other known surface gold targets. The Main
Zone oxide zone is amenable to heap le ach open pit mining, with column leach recoveries of
86%. The project has an existing gravel access road.
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 milli on 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 9,2 30 ha Aurex -McQuesten Property lies in close proximity to both Victoria Gold's Eagle
Project and Alexco Resour ce's Keno Hill Silver District and is highly prospective for structurally
controlled, intrusion related gold-silver mineralization in relation to the Tombstone intrusive suite.
The property hosts numerous known gold targets and Banyan has developed a mineralization
model at the McQuesten “Airstrip” Gold target, located adjacent to the main Yukon highway and
just off the main access road t o the Victoria Gold open-pit, heap leach Eagle Gold mine. The
Property benefits from a 3-phase powerline, existing Yukon Energy Corp. switching power station
and cell phone coverage. Banyan has optioned the properties from Victoria Gold and Alexco
Resources respectively with a right to earn up to a 100% subject to royalties.
Banyan trades on the TSX -Venture Exchange under the symbol “BYN”. For m ore 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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