Banyan GOLD Reports 72.4M of 1.73 G/T Au at the Powerline Deposit, Aurmac Property, Yukon
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BANYAN GOLD REPORTS 72.4M OF 1.73 G/T AU AT THE POWERLINE
DEPOSIT, AURMAC PROPERTY, YUKON
December 14, 2021 TSX-V: BYN
VANCOUVER, BC, December 14, 2021 – Banyan Gold Corp. (the " Company" or "Banyan")
(TSXV: BYN) is pleased to release assay results from eight (8) diamond drill holes of the Phase
2 exploration campaign at the rapidly developing Powerline Deposit, AurMac Property, Yukon
(Table 1, Figure 1 and 2). These results continue to demonstrate that the Powerline Deposit has
the potential to host near -surface gold mineralization over at least 1.2 kilometres (“km”) strike
length in the east-west direction; t he continuity of this growing trend remains open in both
directions.
Assay highlights from this latest batch of assays received from the 2021 Powerline drilling
campaign include:
• 72.9 metres (“m”) of 0.51 g/t Au from 29.0 m in DDH AX-21-134
• 57.9 m of 0.61 g/t Au from 35.1 m in DDH AX-21-135
• 118.4 m of 0.44 g/t Au from 21.3 m in DDH AX-21-137
• 72.4 m of 1.73 g/t Au from 8.2 m in DDH AX-21-139
• 58.0 m of 0.47 g/t Au from 15.2 m in DDH AX-21-141
• 41.7 m of 0.66 g/t Au from 9.1 m in DDH AX-21-150
“These latest assays continue to expand the interpreted gold mineralization footprint at Powerline
with 100 m step out drill holes. The continuity of mineralization across the 2 km of strike drilled is
impressive.” states Tara Christie, President and CEO. “Field crews are beginning to wrap up after
a long season having achieved our target 30,000 m of diamond drilling. Banyan will be back at
drilling AurMac early in the New Year.”
Results from these latest eight (8) drill hole s are consistent with previous exploration drilling
campaigns at Powerline deposit (Figures 1 and 2). Visible gold is commonly observed in quartz
veins that are discordant to fol iation (Image 1) . The areal extent of this interpreted gold
mineralization has expanded from 250 m by 250 m for the existing Powerline Resource, to over
2 km x 2 km; demonstrating the potential for Powerline to add measurably to the mineral resource
catalogue of AurMac.
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Image 1: Photographs of visible gold from : A) AX-21-137 100.3 m to 1 01.3 m which assayed
1.75 g/t Au over 1.0 m; B) AX-21-139 37.9 m to 39.5 m which assayed 47.2 g/t Au over 1.6 m; C)
AX-21-143 103.1 m to 104.2 m which assayed 1.09 g/t Au over 1.1 m; D) AX-21-143 243.8 m to
244.8 m which assayed 1.32 g/t Au over 1.0 m.
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Figure 1: Drill program at Powerline and Aurex Hill Plan Map, showing historic, completed, and
planned diamond drill holes.
Figure 2: Powerline Drill Hole Locations, showing historic, completed, and 2022 planned diamond
drill holes.
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Table 1: 2021 Highlighted Powerline Diamond Drill Analytical Results. Maps and full assay results
are available on Banyan’s website).
Hole ID From (m) To (m) Interval* (m) Au (g/t)
AX-21-134 29.0 101.9 72.9 0.51
and 138.2 162.0 23.8 0.23
and 212.5 214.1 1.6 1.78
and 234.2 235.7 1.5 1.74
and 250.8 252.2 1.4 1.38
AX-21-135 35.1 93.0 57.9 0.61
including 62.5 64.0 1.5 3.85
including 68.6 71.9 3.3 3.37
and 123.4 129.5 6.1 1.32
and 158.9 186.1 27.2 0.47
AX-21-137 21.3 139.7 118.4 0.44
including 21.3 24.4 3.1 5.44
including 128.6 131.6 3.0 2.10
and 190.8 200.2 9.4 1.17
AX-21-138 39.6 253.1 213.5 0.26
or 39.6 65.5 25.9 0.39
Including 73.5 78.5 5.0 0.61
and 137.2 164.6 27.4 0.57
and 212.9 241.4 28.5 0.21
AX-21-139 8.2 80.6 72.4 1.73
including 34.9 37.9 3.0 3.17
and 144.9 202.5 57.6 0.23
AX-21-141 15.2 73.2 58.0 0.47
including 15.2 16.8 1.6 3.57
including 44.2 45.7 1.5 2.49
including 53.3 54.9 1.6 2.79
and 133.6 136.4 2.8 1.54
AX-21-143 25.9 29.0 3.1 5.74
and 50.2 51.2 1.0 1.82
and 95.9 97.4 1.5 1.21
and 103.1 104.2 1.1 1.09
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Hole ID From (m) To (m) Interval* (m) Au (g/t)
and 112.2 154.0 41.8 0.36
and 164.6 180.7 16.1 0.8
and 186.8 206.0 19.2 0.41
and 238.3 246.3 8.0 0.88
AX-21-150 9.1 50.8 41.7 0.66
including 13.3 18.8 5.5 1.61
and 63.6 71.6 8.0 1.43
and 125.1 126.4 1.3 1.21
and 142.8 143.3 0.5 33.5
and 168.4 218.5 50.1 0.24
* True widths are estimated to be greater than 90% of the reported intervals. Collar locations and azimuth available on
website.
Detailed maps with drill hole locations and spreadsheet with full drill results is available on
Banyan’s website.
2021 Drilling Program Update
The AurMac drill program for 2021 has now concluded, having expanded to four (4) drills and
completing 30,091 m of drilling in 135 diamond drill holes.
Diamond drilling at AurMac since the Q1 2020 maiden resource announcement is now over
40,000 m to date – which has all targeted resource expansion of the Airstrip Depos it; the
Powerline Deposit and the Aurex Hill zone.
The 2022 drill season will start early in the New Year and the first 15,000 m of 30,000 m has been
planned. Additional drill locations will be determined after reviewing analytical results.
Analytical Method
All drill core splits reported in this news release were analysed at SGS Canada in Vancouver, BC
utilising their GE_IMS21B20 analytical package which comprises a two-acid aqua regia digestion
followed by a 36-element ICP-MS scan, in conjunction with the GE_FAA30V5 30g Fire Assay with
AAS finish for gold on all samples. Samples with gold content exceeding the analytical thresholds
of this package were reanaly sed utilising an additional 30g Fire Assay Gravimetric Finish (SGS
Package GO_FAG30V). All core samples were split on-site at Banyan’s core processing facilities.
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. Samples were
delivered by Banyan personnel or a dedicated expediter to the SGS, Whitehorse preparatory
laboratory where samples are prepared and then shipped to SGS laboratory in Vancouver, BC
for pulverization and final chemical analysis. A robust system of standards, ¼ core duplicates
and blanks was implemented in the 2021 exploration drilling program and was monitored as
chemical assay data became available.
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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 Events
• Vancouver Resource Investment Conference – January 16 & 17, 2022
o Booth and Presentation
• AMEBC Round-Up – January 30 to February 4, 2022
• CEM Whistler Capital Conference – February 18 to 20, 2022
• The BMO 31st Global Metals & Mining Conference – February 27 to March 2, 2022
• PDAC 2022 – March 7-9, 2022
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. Exploration activities will
continue to have additional safety measures in place, regularly updated to follow and exceed all
the recommendations of Yukon’s Chief Medical Officer.
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, Franklin Gold and Precious Metals Fund, Osisko
Development, and Victoria Gold Corporation. Banyan is focused on gold exploration projects that
have the geological potential, size of land package and proximity to infrastruc ture 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 adj acent 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 Property 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 (Table 3). It is a
near surface, road accessible pit constrained Mineral Resource contained in two near/on-surface
deposits: The Airstrip and Powerline deposits.
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Table 3: 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 insuffic ient
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 4 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 4: 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.
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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 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 • 778 928 0556 • [email protected]
Jasmine Sangria • 604 312 5610 • [email protected]
CAUTIONARY STATEMENT: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is 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.
FORWARD LOOKING INFORMATION: This news release contains forward- looking information, which is not
comprised of historical facts. Such information can generally be identified by the use of forwarding- looking wording
such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or
similar variations. 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, the potential
for the Powerline Zone to host widespread, consistent and near-surface gold mineralization; the potential Powerline
Zone to define additional gold resources and the qualities of any such gold resources; the growth potential at Powerline
Zone and the completion of additional exploration thereon; 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 governmental,
environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing
needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in 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.