Banyan GOLD Intersects 24.5 Metres of 1.34 G/T and Defines Widespread GOLD Mineralization at Powerline Zone– Aurex-Mcquesten GOLD Project, Yukon
BANYAN GOLD INTERSECTS 24.5 METRES OF 1.34 g/t AND DEFINES
WIDESPREAD GOLD MINERALIZATION AT POWERLINE ZONE–
AUREX-MCQUESTEN GOLD PROJECT, YUKON
January 17, 2020 TSX - BYN
VANCOUVER, January 17, 2020 - Banyan Gold Corp. (the "Company" or "Banyan") (TSX-V:
BYN) is pleased to announce assay results from the seven (7) diamond drill-holes collared in the
Phase 2, 2019 exploration campaign at the Powerline Zone on the Company’s Aurex-McQuesten
Gold Project near Mayo, Yukon. These seven (7) holes totaled 871 metres as step-out drill fences
from the Powerline Discovery holes ( See Company News Release of September 3, 2019 ); and
defined broad intervals of near - and on -surface gold mineralization ak in to the Airstrip Zone
located just over 1 kilometer north of Powerline.
Powerline Zone mineralization has been shown to be similar to the Airstrip Zone with broad sub-
gram gold intervals; however , within these near -surface intervals, higher grade horizons are
evident and provide compelling targets for exploration follow-up.
Powerline Zone Phase II drillhole result highlights:
• 97.9 metres of 0.49 g/t Au in AX-19-39
▪ Including 24.5 metres of 1.34
• 78.5 metres of 0.35 g/t Au in AX-19-36
• 45.5 metres of 0.47 g/t in AX-19-40
Higher grade intervals of note include:
• 13.4 metres of 0.78 g/t Au in AX 19-34
• 1.5 metres of 4.57 g/t Au in AX-19-35
• 4.3 metres of 2.05 g/t Au in AX-19-36
• 1.5 metres of 5.68 g/t Au in AX-19-39
“Gold mineralization at the newly discovered Powerline Zone is extensive, starting from surface
and is open in all directions from the limited 250 meter by 250 metre area drill tested to date. The
gold grade increasing to the north, in hole AX-19-39, is highly encouraging”, stated Tara Christie,
President and CEO of Banyan. “These latest results have greatly aided interpretation of lithology,
structure and gold mineralization controls in this new zone. The goal of the 2019 program was to
build potentially open-pit extractable gold ounces at both the P owerline and Airstrip Zones,
located only one kilometre from each other; and that has been successfully achieved.”
Full results from 2019 Drilling at the Powerline Zone, are shown in Table 1 below. Phase 1 holes
AX-19-30 through 34 have been included in this table and with re-interpreted mineralized intervals
based on Phase 2 drilling results. The 2019 Phase 2 holes are AX 19 -34 to AX 19-40 and cover
a drill tested area to the east , west and north of the Phase 1 discovery holes and represent the
first ever systematic assessment of the mineral potential of this area.
Table 1: 2019 Powerline Drillhole Results:
Hole ID From (m) To (m) Interval(m)* Au (g/t)
AX-19-30 25.9 135.6 109.7 0.36
Or 25.9 30.5 4.6 2.89
including 25.9 27.4 1.5 8.19
and 44.2 67.3 23.1 0.62
Including 44.2 51.6 7.4 1.46
and 116.3 116.4 0.1 1.59
and 128.0 129.7 1.7 1.79
and 134.1 135.6 1.5 1.51
AX-19-31 11.7 86.5 74.8 0.54
Or 11.7 16.8 5.1 0.57
and 30.5 41.2 10.7 0.71
Including 11.7 13.8 2.1 1.16
and 64.0 86.5 22.5 1.21
Including 64.0 65.5 1.5 1.34
Including 71.6 72.0 0.4 48.1
Including 75.4 76.9 1.5 0.93
Including 82.2 83.2 1.0 2.39
AX-19-32 13.3 30.8 19.5 0.4
AX-19-33 44.2 91.4 47.2 0.64
Or 44.2 59.4 15.2 0.71
Including 44.2 46.4 2.2 1.12
Including 49.6 53.8 4.2 1.24
Including 56.0 56.3 0.33 3.59
and 74.8 91.4 16.6 1.10
Including 82.2 83.8 1.6 4.51
Including 86.0 87.9 1.9 2.08
Including 90.1 91.4 1.3 3.12
AX-19-34 43.6 96.3 52.7 0.31
Or 43.6 57.0 13.4 0.78
Including 48.1 49.6 1.5 3.39
Including 50.4 51.8 1.4 2.03
and 83.5 96.3 12.8 0.33
AX-19-35 3.7 105.4 101.7 0.33
Or 3.7 18.2 14.5 0.90
Including 3.7 4.7 1.0 1.64
Including 15.4 16.8 1.4 7.26
and 53.2 105.4 52.2 0.36
Including 53.2 54.6 1.4 1.30
Including 101.5 103.0 1.5 4.57
Including 104.4 105.4 1.0 1.34
Ax-19-36 13.4 91.9 78.5 0.35
Or 13.4 42.4 29.0 0.54
Including 22.7 24.0 1.3 1.89
Including 38.1 42.4 4.3 2.05
and 65.7 77.1 11.4 0.75
Including 70.0 72.9 2.9 2.36
and 90.4 91.9 1.5 0.96
AX-19-37 41.9 109.0 67.1 0.21
Or 41.9 51.3 9.4 0.45
Including 41.9 43.0 1.1 1.70
and 63.6 81.6 18.0 0.29
Including 70.1 71.5 1.4 1.26
and 107.5 109.0 1.5 1.87
AX-19-38 29.9 122.1 92.2 0.26
Or 29.9 45.3 15.4 0.44
including 30.7 32.2 1.5 2.18
and 83.6 122.1 38.5 0.37
including 101.1 102.5 1.4 1.15
including 109.4 110.9 1.5 2.08
AX-19-39 5.6 103.5 97.9 0.49
Or 5.6 11.2 5.6 0.88
Including 8.8 11.2 2.4 1.81
and 16.0 40.5 24.5 1.34
Including 17.2 18.3 1.1 1.89
Including 19.5 21.0 1.5 1.77
Including 22.5 24.0 1.5 1.08
Including 33.0 34.5 1.5 1.07
Including 37.9 39.0 1.1 1.12
and 46.5 78.0 31.5 0.64
Including 46.5 48.0 1.5 5.68
Including 70.8 72.3 1.5 1.99
and 84.0 103.5 19.5 0.39
Including 84.0 85.5 1.5 1.12
Including 102.0 103.5 1.5 2.41
AX-19-40 18.0 63.5 45.5 0.47
Or 18.0 30.4 12.4 0.52
Including 18.0 19.0 1.0 1.20
Including 27.5 29.0 1.5 1.31
and 37.3 48.4 11.1 0.97
Including 38.5 40.0 1.5 2.14
Including 44.9 48.4 3.5 1.55
and 62.0 63.5 1.5 2.10
*True widths are not known at this time
NB. Phase 1 holes AX-19-30 to 34 have been included in this table and are re-interpreted based on the new geological interpretation
developed from Phase 2 drilling. The 2019 Phase 2 holes are 19-34 to AX 19-40
The 2019 Powerline drill holes are hosted in the Yusez yu Formation of the Hyland Group
Sediments. These, Proterozoic aged , host-rocks to the Powerline gold mineralization are
juxtaposed against the younger Sourdough Formation of the Keno Hill Quartzite, which is host to
the Airstrip Zone gold mineralization. Interpretation of the drill results from the Phase 2 Powerline
program indicates a gold grade increase to the north, towards the regional scale Robert Service
Thrust, which lies between The Airstrip Zone and the Powerline Zone.
A set of plan maps and sections to accompany this news release 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 process ing 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 chemical analysis. A rob ust 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 th is 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 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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