Banyan Gold Announces $1 Million 2017 Exploration Program for the Company’s Flagship Hyland Gold Project
Banyan Gold Announces $1 Million 2017 Exploration Program for the Company’s
Flagship Hyland Gold Project
June 9, 2017 TSX-V: BYN
BANYAN GOLD CORP. (“Banyan” or the “Company”) announces a $1 million advanced
exploration program budget for the Company's 100-per-cent-owned Hyland Gold Project.
“This season’s drilling program at the 100% owned Hyland Gold Project will focus on the
meaningfully advance ment of the current N.I. 43-101 compliant ~ 400,000 ounce grading 0.99
g/t AuEq on-surface Main Zone inferred resource as well as test the growing Camp and
Montrose Ridge Zones on the Property”, stated Tara Christie, President and CEO. “The past
four seasons of exploration work at Hyland have highlighted the District Scale mineral pot ential
of the Property, and we believe now is the right time to focus on the Main Zone gold resource to
generate maximum shareholder value for our Company.”
HYLAND GOLD PROJECT – 2017 Exploration
The 2017 Hyland Gold Project p rogram will begin in mid -July after the Phase I Aurex-
McQuesten program is completed and will continue through September. 4,000 m etres of
diamond drilling is planned for the Main and Camp Zones in the “Hyland North” portion of the
Property. Additional targeted surface trenches and soils geochemical surveys are planned for
this area with a concentration on the Camp Zone. Diamond d rilling initiatives will be focused on
the Hyland Main Zone towards an update of the existing N.I. 43-101 compliant inferred resource
as well as continuing to test mineralization targets in the Camp Zone including following up on
the 2016 discovery in t rench CZ-16-01 which returned 96 metres grading 0.64 gram per tonne
gold from zero metres to 96 metres, including 56 metres grading 1.03 grams per tonne gold
from zero metres to 56 metres of a broad fault zone consisting of predominantly gouge and
brecciated clastic units of the Hyland Formation (See Company News Release dated November
3, 2016).
In the “Hyland South” area, exploration will continue to build out the District -Scale mineralization
potential of the Hyland Property through reconnaissance level geochemical sampling to cover
areas that have never been soil sampled as well as targeted grid based geochemical surveys
over defined geochemical soil anomalies. Exploration focus in these areas has been bolstered
by a comprehensive structural analysis of the Property-wide LiDAR survey completed in the Fall
of 2016 and several targets deemed prospective for hosting structurally -related mineralization
have been identified.
The program is well supported by an existing 35-person camp, pre-positioned drilling and heavy
equipment and existing roads . Based on results as the program progress, t he company will
continue to examine funding opportunities to expand the 2017 Hyland Gold exploration
program.
The Hyland Gold Project lies in the Selwyn Basin a prolific geological domain that hosts ATAC
Rackla Gold Project to the North and more locally, Golden Predator’s 3 Aces project
approximately 150 kilometers north.
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 well financed 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 Main Zone gold Inferred Resource, at a 0.6 g/t gold equivalent
cutoff, hosts a NI 43 -101 resource of 12,503,994 tonnes containing 361,692 ounces gold at 0.9
g/t and 2,248,948 ounces silver at 5.59 g/t for a combined gold and silver 396,468 ounces gold
equivalent.
The newly acquired 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 perspective 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]
CAUTIONARY STATEMENT: The TSX Venture Exchange does not accept 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 the timing of negotiating the definitive agreements. Factors that
could cause actual results to differ materially from such forward-looking information include, but are not limited to, uncertainties
inherent to preparing a resource estimate within expected timeline, 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 Banyan’s public documents filed on SEDAR.
Although Banyan believes that the assumptions and factors used in 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 any forward-looking information, whether as a result of new information, future events
or otherwise, other than as required by law. Paul D.Gray of Banyan Gold Corp. is a “qualified person” within the meaning of
such term as set forth in National Instrument 43-101 of the Canadian Securities Administrators, and has verified and supervised
the preparation of all of the scientific and technical information contained in this news release.
Statements in this news release regarding Banyan Gold which are not historical facts are “forward-looking statements” that
involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as
“may”, “will”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar
variations.