Banyan GOLD Expands Airstrip Zone Mineralization - Drills 91.4 M of 0.44 G/T IN Phase 2 Drill Program – Aurex- Mcquesten GOLD Project, Yukon
BANYAN GOLD EXPANDS AIRSTRIP ZONE MINERALIZATION -
DRILLS 91.4 M of 0.44 G/T IN PHASE 2 DRILL PROGRAM – AUREX-
MCQUESTEN GOLD PROJECT, YUKON
NOVEMBER 18, 2019 TSX-V: BYN
VANCOUVER, November 18, 2019 - Banyan Gold Corp. (the "Company" or "Banyan") (TSX-V:
BYN) is pleased to announce results from the first four (4) diamond drill holes from the recently
completed 3,385m (26 holes) diamond drill program and 497m (5 holes) Reverse Circulation
(“RC”) Phase 2 drill program at the Company’s Aurex-McQuesten Gold Project near Mayo, Yukon.
The program is designed to expand the Airstrip and Powerline targets; to 1 km and 250m of strike
respectively.
Airstrip Target highlights include:
• 5.99 g/t Au over 0.9m in MQ-19-47
• 3.77 g/t Au over 1.8m in MQ-19-48
• 4.54 g/t Au over 2.3m in MQ-19-49
• 2.16 g/t Au over 4.2m in MQ-19-50
“These firs t results continue to define broad intervals of near-surface gold mineralization
expanding the Airstrip Zone”, stated Tara Christie, President and CEO of Banyan. “ Drilling was
designed to test the continuation of mineralization by 500 metres along strike, meaningfully adding
tonnage and defining higher-grade shoots.”
Block “1” was defined at the Airstrip Zone in 2018, and ou tlines an approximately 90 m thick
package of near surface and on surface mineralization with 500m of strike. These first four
drillholes confirm150 metres of strike extension to the west of ‘Block 1’ of the Airstrip Zone and
confirm the mineralization continues to be open to the west. All holes intersected consistent and
broad intervals of gold mineralization from 0.4 to 0.6 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. All of the
holes also returned higher grade zones, punctuating the broad mineralization , as in the table
below:
Hole ID From
(m)
To (m) Interval
(m)*
Au (g/t)
MQ-19-47 28.2 102.4 74.2 0.48
including 33.5 40.6 7.1 1.11
including 46.7 47.7 1.0 1.66
including 83.3 88.4 5.1 3.00
including 101.5 102.4 0.9 5.99
MQ-19-48 39.3 128.7 89.4 0.43
including 39.3 43.5 4.2 0.91
including 45.3 45.9 0.6 1.04
including 77.0 79.2 2.2 1.77
including 103.4 103.7 0.3 5.66
including 107.6 109.4 1.8 3.77
including 112.4 113.9 1.5 2.13
including 126.9 128.7 1.8 2.45
MQ-19-49 55.2 91.4 36.2 0.61
including 72.5 73.5 1.0 2.56
including 77.9 79.4 1.5 1.53
including 84.6 88.4 2.3 4.54
And 118.0 119.5 1.5 1.46
MQ-19-50 43.5 81.5 38.0 0.43
including 50.5 54.7 4.2 2.16
Including 60.5 61.7 1.2 1.53
including 80.0 81.5 1.5 1.59
*True widths are considered to be greater than 90% of the reported intervals
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.
Upcoming events
Banyan will have a core display at the Yukon geoscience forum on Monday, November 18th at the
Coast High Country Convention Center in Whitehorse, Yukon. A technical presentation on the
Aurex-McQuesten project will occur at 2:30 pm on Tuesday, November 19 th. Tara Christie, will
also be participating in an inclusion and diversity in Yukon Mineral Industry panel at 1 pm in the
afternoon of November 18th.
The presentation given at the Precious Metals Forum in Zurich, November 13, 2019 can be
viewed at: http://www.gowebcasting.com/10327 and is available on our website.
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 pr ojects 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, struct urally 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 a menable 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 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 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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