Banyan GOLD Drills 98 Meters of 0.71 G/T GOLD; Continues to Confirm Consistent Mineralization Across Airstrip Zone– Aurex-Mcquesten GOLD Project, Yukon
BANYAN GOLD DRILLS 98 METERS OF 0.71 G/T GOLD; CONTINUES
TO CONFIRM CONSISTENT MINERALIZATION ACROSS AIRSTRIP
ZONE– AUREX-MCQUESTEN GOLD PROJECT, YUKON
December 11, 2019 TSX-V: BYN
VANCOUVER, December 11, 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. Phase 2 drilling was designed to expand the strike length of the
mineralization of Airstrip Block “1”, from 500 metres to >1 kilometre. These four holes, MQ-19-54
through 56 and MQ-19-64 extend and infill Airstrip mineralization over the first 250 metres east of
this new zone from Block 1 and further validate the McQuesten Mineralization Geologic Model.
East Airstrip Target returns broad intervals of gold mineralization including:
• 98 m of 0.71 g/t Au in MQ-19-54
• 53 m of 0.31 g/t Au in MQ-19-55
• 75 m of 0.47 g/t Au in MQ-19-56
• 45 m of 0.26 g/t Au in MQ-19-64
East Airstrip Target high grade highlights include:
• 1.5 m of 7.77 g/t Au in MQ 19-54
• 3.0 m of 4.76 g/t Au in MQ 19-54
• 0.2 m of 16.9 g/t Au in MQ-19-56
“Airstrip Zone results continue to build out consistent, long intervals of near-surface gold
mineralization within the host unit defined by Bayan’s geologic model. Each successive drillhole
in this new area meaningfully adds tonnage combined with 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 outlines approximately 500 metres of strike
length of a well behaved, ~90 m thick prospective lithological package preferentially mineralized
with gold which exists near and on surface. These latest drill holes, together with previously
announced drill holes MQ -19-52 and MQ-19-53 (See Company News Release of December 2,
2019) represent continued step out drill fence lin es nominally spaced at 100m intervals along
trend of the postulated Eastern extent of Block ”1”. This Phase 2 drill program tested an area
approximately 400m east of Block “1” of the Airstrip Zone Mineralized trend.
Table 1: Drill hole highlights:
Hole ID From
(m) To (m) Interval Au (g/t) (m)*
MQ-19-54 21.5 119.5 98 0.71
Including 22.6 25 2.4 3.42
Including 46.3 47.8 1.5 7.77
Including 50 51.3 1.3 1.47
Including 55.5 56.8 1.3 1.43
Including 79.5 82.5 3 4.76
Including 84 85.5 1.5 1.31
Including 87 91.5 4.5 1.71
Including 109.5 111 1.5 0.95
Including 118.4 119.5 1.1 3.04
And 144.9 150 5.1 0.56
Including 147.5 149 1.5 1.07
MQ-19-55 4.6 57.9 53.3 0.31
Including 7.6 9.1 1.5 2.11
Including 22.6 23.7 1.1 2.77
Including 38.7 39.6 0.9 1.42
and 112.2 114.7 2.5 5.91
and 137.4 138.7 1.3 1.29
MQ-19-56 12.2 86.7 74.5 0.47
Including 12.2 13.7 1.5 2.33
Including 33.5 35.1 1.6 1.12
Including 36 37.1 1.1 1.98
Including 38.7 40.3 1.6 4.3
Including 56.8 58.3 1.5 1.91
Including 79.3 80.8 1.5 0.99
Including 82.3 83.3 1 1.45
Including 85.3 86.7 1.4 1.47
And 127.1 141.6 14.5 0.87
Including 131 132.3 1.3 1.36
Including 134 134.2 0.2 16.9
Including 138.5 140.1 1.6 1.95
MQ-19-64 43 88.2 45.2 0.26
including 43 43.5 0.5 1.81
including 87.4 88.2 0.8 3.31
*True widths are estimated to be greater than 90% of the reported intervals
Holes MQ19-46, 52 through56 and MQ-19-64 (see News Release December 2nd 2019) add 250m
of continuous mineralization to the eastern boundary of block 1 mineralization. In addition to this
increased mineralized strike extension, the mineralization remains open down dip.
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. 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 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 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 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 9,230 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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