Banyan GOLD Commences Drilling at Aurex Hill, Aurmac Property, Yukon
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BANYAN GOLD COMMENCES DRILLING AT AUREX HILL, AURMAC PROPERTY, YUKON
June 14, 2021 TSX-V: BYN
VANCOUVER, B.C, June 14, 2021 – Banyan Gold Corp. (the "Company" or "Banyan") (TSX-
V: BYN) is pleased to announce drilling has begun at the Aurex Hill Target, situated approximately
one kilometre east of the Powerline Deposit on the AurMac Property, Yukon.
“Banyan is excited to return to Aurex Hill and follow -up on the near-surface gold mineralization
identified in our 2020 drill program.” stated Tara Christie, President and CEO. “Phase 1 drilling on
the Aurex Hill target should unlock the potential to develop another near-surface resource.”
Aurex Hill includes a roughly 10 sq km area defined by a large, coincident gold and arsenic -in-
soil geochemical anomaly (Figure 1). Over 12,500 metres (“m”) of historic RAB drilling from 442
shallow (less than 50 m) holes, along with 15 diamond drill holes have been collared over Aurex
Hill historically (Figure 2), prior to the development of the Banyan Geological Model which was
tested and validated with the 2020 drilling.
A summary of highlights from the RAB drilling are presented in Table 1 – and indicate the
mineralization potential of this area.
Table 1: Highlights* from historic RAB Aurex Hill results
Hole ID From (m) To (m) Interval* (m) Au (g/t)
93-147 9.2 48.8 39.6 1.18
93-151 18.3 45.7 27.4 0.73
93-153 9.2 30.5 21.3 0.75
93-158 15.2 36.6 21.4 0.93
94-80 3.1 24.4 21.3 0.71
94-114 9.2 27.4 18.2 0.70
94-121 6.1 21.3 15.2 0.97
94-129 12.2 30.5 18.3 0.74
94-133 6.1 30.5 24.4 0.73
94-161 9.2 18.3 9.1 1.54
94-167 6.1 18.3 12.2 0.88
94-174 15.2 27.4 12.2 0.79
94-184 9.2 24.4 15.2 0.78
94-193 3.1 18.3 15.2 1.44
96-67 3.1 30.5 27.4 0.74
* Historic drill results were reported by a previous operator, Yukon Revenue Mines Ltd., and utilized an Atlas Copco BRE 57- 01 top
hammer rotary percussion drill, in 1993, 1994 and 1996 exploration campaigns. Analytical results were reported to have been
received from NAL lab in Whitehorse (gold – fire assay with gravimetric finish; antimony, bismuth and arsenic – atomic absorption
spectroscopy); check assays were performed at Chemex Labs. Banyan has not verified the results and, therefore, they should not
be relied upon. Banyan intends to verify a portion of these historically reported results as a part of this season's exploration
programs.
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Figure 1: Phase 1 Drilling Plan showing Au-in -soil anomaly and historic diamond drill and RAB
holes
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Figure 2: Cross section showing historic RAB results and planned 2021 Aurex Hill holes
Diamond drilling at the Aurex Hill Zone in 2020 was comprised of seven (7), exploration holes
designed to test a small portion of the highly prospective co-incident Au-As -in-soil anomalies
previously defined by Banyan to be covering the majority of Aurex Hill. Drilling occurred in an
untested area, over 300 m northwest of historic Aurex Hill diamond drill holes and hosts the same
lithological package as at the Powerline Zone, over 1.25 km to the west.
The first holes in this area (see January 11, 2021 & February 8, 2021 news releases), intersected
a well developed and pervasive oxidized footprint to depths of over 40 m associated with
discordant sheeted auriferous quartz -arsenopyrite veining (Figure 3 ) and included the following
highlights:
• 1.11 g/t Au over 17.9 metres from surface in AX-20-57
• 0.91 g/t Au over 20.5 metres from surface in AX-20-54
Figure 3: North-south cross section showing 2020 Aurex Hill results
The Phase 1, 5,000 m drill program at Aurex Hill is designed to build upon the success of the
2020 drilling in this newly recognized zone and endeavor to connect this mineralized portion of
the Aurex Hill system with the historically RAB drilled zones.
Video version of this news release can be found on the Banyan Gold’s website.
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2021 Drilling Update
Banyan has completed Phase 1 Powerline drilling with 10,476 m in a systematic, 100 m centered,
drill grid designed to expand the Powerline Deposit. To date only 16 of 50 holes have received
final assay results.
Qualified Person
Paul D. Gray, P.Geo., Vice President of Exploration for the Company, is a “qualified person” as
defined under NI 43-101 and has reviewed and approved the content of this news release.
Upcoming Catalysts
Results from Phase One Powerline Drilling – 34 of 50 holes pending
Whistler Capital Events, July 9-11, 2021
Precious Metals Beaver Creek, September 8-11, 2021
COVID-19 Update
Banyan Gold continues to take proactive measures to protect the health and safety of our Yukon
communities, our contractors and our employees from COVID 19 and exploration activities in
2021 will have additional safety measures in place, following and exceeding all the
recommendations of Yukon’s Chief Medical Officer. Over 90% of Banyan Gold employees and
contractors on site are fully vaccinated.
About Banyan
Banyan's primary asset AurMac is adjacent to Victoria Gold's Eagle Gold Mine, in Canada’s
Yukon Territory, which announced commercial production on July 1, 2020. The AurMac initial
resource of 903,945 oz Au (see Table 2 below) was announced in May 2020. Our major strategic
shareholders include Alexco Resource Corp, Victoria Gold Corporation and Osisko Development.
Banyan 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 this model and our objective is to gain
shareholder value by advancing projects in our pipeline.
The 173 sq km AurMac Property lies 30 km from Victoria Gold's Eagle Project and adjacent to
Alexco's Keno Hill Silver District and is highly prospective for structurally controlled, intrusion
related gold-silver mineralization. The property is located adjacent to the main Yukon highway
and just off the main access road to the Victoria Gold open-pit, heap leach Eagle Gold mine. The
AurMac Prop erty 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 respectively with a right to earn up to a 100% subject to royalties.
The 2020 Initial Mineral Resource Estimate prepared in accordance with National Instrument 43-
101 (“NI 43-101”) guidelines for the AurMac Property is 903 ,945 ounces of gold. It is a near
surface, road accessible pit constrained Mineral Resource contained in two near/on-surface
deposits: The Airstrip and Powerline deposits . The Mineral Resource is summarized in Table 2
below.
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Table 2: Pit-Constrained Inferred Mineral Resources at a 0.2 g/t Au Cut-Off – AurMac Property
Deposit Classification
Tonnage
Tonnes
Average Au
Grade
g/t
Au Content
oz
Airstrip Inferred 45,997,911 0.524 774,926
Powerline Inferred 6,578,609 0.610 129,019
Total Combined Inferred 52,576,520 0.535 903,945
Notes:
1. The effective date for the Mineral Resource is May 25, 2020.
2. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability . The estimate of Mineral
Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, changes
in global gold markets or other relevant issues.
3. The CIM definitions were followed for classification of Mineral Resources . The quantity and grade of reported inferred
Mineral Resources in this estimation are uncertain in nature and there has been insufficient exploration to define these
inferred Mineral Resources as an indicated Mineral Resource and it is uncertain if further exploration will result in upgrading
them to an indicated or measured Mineral Resource category.
4. Mineral Resources are reported at a cut-off grade of 0.2 g/t Au, using a US$/CAN$ exchange rate of 0.75 and constrained
within an open pit shell optimized with the Lerchs-Grossman algorithm to constrain the Mineral Resources with the following
estimated parameters: gold price of US $1,500/ounce, US$1.50/t mining cost, US$2.00/t processing cost, US$2.50/t G +A,
80% heap leach recoveries, and 45° pit slop.
5. Mineral Resource Estimate prepared in accordance with 43-101 guidelines by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto
Consulting Inc, with technical report filed July 7,2020.
The Hyland Gold Project, located 70 km Northeast 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 (900 m x 600 m) daylighting at surface and numerous other known surface gold targets. The
Main Zone oxide zone is amenable to heap leach open pit mining, with column leach recoveries
of 86%. The project has an existing gravel access road.
Table 3 shows 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. NI 43-101 prepared by Robert Carne, Allan Armitage
and Paul Gray on May 1, 2018.
Table 3: Hyland Main Zone Indicated Gold Resource Estimate
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
Notes:
1. Mineral resources which are not mineral reserves do not have demonstrated economic viability.
2. All figures are rounded to reflect the relative accuracy of the estimate.
3. 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
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recoveries of gold and silver. This information can only be derived from definitive metallurgical testing which has yet to be
completed.
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
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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.
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