Banyan GOLD Drills 106.7 Meters of 0.63 G/T GOLD; Continues to Confrim Long Intervals of Mineralization at Airstrip– Aurex-Mcquesten GOLD Project, Yukon
BANYAN GOLD DRILLS 106.7 METERS OF 0.63 G/T GOLD;
CONTINUES TO CONFRIM LONG INTERVALS OF MINERALIZATION
AT AIRSTRIP– AUREX-MCQUESTEN GOLD PROJECT, YUKON
December 2, 2019 TSX-V: BYN
VANCOUVER, December 2, 2019 - Banyan Gold Corp. (the "Company" or "Banyan") (TSX-V:
BYN) is pleased to announce results from the next four (4) diamond drillholes of the recently
completed 3,385m (26 hole) Phase 2 diamond drill program on the Company’s Aurex-McQuesten
Gold Project near Mayo, Yukon . This drilling was designed to expand the strike length of the
mineralization of Airstrip Block “1”, from 500 metres to >1 kilometre. Three of these four holes,
MQ-19-46, MQ-19-52 and MQ-19-53 extended Airstrip mineralization up to 250 metres. Drillhole
MQ-19-51 is the fifth and final hole from the Phase 2 drill program testing the mineralization west
of ‘Block 1’ (News Release November 18 ). All remaining drill holes from the Phase 2 program
target the previously undrilled eastern extension of Airstrip mineralization and Powerline Zone.
East Airstrip Target returns broad intervals of gold mineralization including:
• 106.7 m of 0.63 g/t Au in MQ-19-52
• 50.7 m of 0.46 g/t Au in MQ-19-46
East Airstrip Target high grade highlights include:
• 3 m of 2.89 g/t Au in MQ 19-52
• 2.9 m of 12.49 g/t Au in MQ 19-52
• 1.5 m of 1.89 g/t Au in MQ-19-52
• 0.8 m of 4.50 g/t Au in MQ 19-46
• 1.5m of 1.68 g/t Au in MQ-19-53
“These latest Airstrip Zone results continue to impress, with each successive hole intersecting
consistent intervals of near-surface gold mineralization within the host unit defined by Bayan’s
geologic model. Thus far the program results have increased not only overall confidence in the
Airstrip Zone, but significantly expanded the target to the East with fence drilling step -outs.
Assays returned to date have meaningfully added tonnage and defined higher-grade zones within
a previously undrilled portion of the growing Air strip Zone”, stated Tara Christie, President and
CEO of Banyan.
Block “1” was defined at the Airstrip Zone in 2018, and defines approximately 500 metres of strike
length of a consistent, ~ 90 m thick prospective package of near surface and on surface
mineralization. These holes represent the first in a series of step out drillholes along trend of the
postulated Eastern extent of Block ”1”, which together tested and was part of the set of hole s
designed to test over 500m of eastern expansion of the Airstrip Zone Mineralized trend.
Table 1: Drill hole highlights:
Hole ID From
(m) To (m) Interval Au (g/t) (m)*
MQ-19-46 8.3 59 50.7 0.46
Including 10.5 12 1.5 1.59
Including 13.5 14.3 0.8 4.50
Including 37.8 39 1.2 1.27
Including 40 40.3 0.3 1.03
Including 44.5 45.6 1.1 1.15
Including 57.9 59 1.1 1.97
MQ-19-51 53.4 57.9 4.5 0.54
Including 53.4 55.0 1.6 1.00
MQ-19-52 9 115.7 106.7 0.63
Including 49.5 52.5 3 2.89
Including 55.3 56.8 1.5 1.89
Including 82.4 82.9 0.5 15.40
Including 112.8 115.7 2.9 12.49
MQ-19-53 9 50 41 0.27
Including 13.7 15 1.3 1.44
Including 36.9 38 1.1 1.22
Including 47 48.5 1.5 1.68
*True widths are estimated to be greater than 90% of the reported intervals
The first four drillholes, MQ-19-47 through MQ-19-50 reported in News Release November 18,
2019, and MQ-19-51 reported in this news release confirmed over 150 metres of strike extension
to the west of ‘Block 1’ of the Airstrip Zone (with consistent intervals of gold mineralization from
0.40 to 0.60 g/t Au, including: 74.2 metres of 0.48 g/t Au , 89.4 metres of 0.43 g/t Au , 36.2
metres of 0.61 g/t Au and 38.0 metres of 0.43 g/t A u, punctuated with higher grade zones up
to 5.99 g/t Au. Gold mineralization remains open to the west and down dip of this 150 metre block
tested west of ‘Block 1’.
Sections and plan maps of results will be made available on the Company website.
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. T he 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 Analytical laboratory in Vancouver, B.C. for
pulverization and final chemica l 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 project s 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 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 leach 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 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 9,2 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 kno wn 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 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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Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results,
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