Banyan GOLD Reports Aurex Hill Zone Diamond Drill Results, Aurmac Property, Yukon
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BANYAN GOLD REPORTS AUREX HILL ZONE DIAMOND DRILL RESULTS,
AURMAC PROPERTY, YUKON
December 7, 2021 TSX-V: BYN
VANCOUVER, B.C., December 7, 2021 – Banyan Gold Corp. (the " Company" or "Banyan")
(TSX-V: BYN) is pleased to present the complete set of results from the diamond drill exploration
campaign on the Aurex Hill zone at the Company’s rapidly developing AurMac Property, Yukon
(Table 2 and Figure 1 and 2). These results demonstrate this zone has the potential to host
widespread, consistent and near-surface gold mineralization over meaningful extents.
Assay highlights from the 2021 Aurex Hill target include:
• 13.7 metres (“m”) of 0.59 g/t Au from surface in DDH AX-21-116
• 17.8 m of 0.81 g/t Au from 121.9 m in DDH AX-21-116
• 71.6 m of 0.36 g/t Au from 196.6 m in DDH AX-21-117
• 43.9 m of 0.52 g/t Au from 118.0 m in DDH AX-21-118
• 13.8 m of 0.66 g/t Au from 9.1 m in DDH AX-21-119
• 89.2 m of 0.35 g/t Au from 164.6 m in DDH AX-21-120
• 34.4 m of 0.53 g/t Au from 37.2 m in DDH AX-21-121
• 46.0 m of 0.41 g/t Au from 62.8 m in DDH AX-21-123
• 24.2 m of 0.57 g/t Au from 195.1 m in DDH AX-21-125
• 41.2 m of 0.54 g/t Au from 187.4 m in DDH AX-21-127
“Results from the seventeen (17) holes of the 2021 Aurex Hill campaign, combined with historic
intercepts, significantly increases the mineralization footprint of Aurex Hill. The zone represents
a large untested target area with the potential to define additional near -surface, potentially heap
leach developable, gold resources .” states Tara Christie, President and CEO . “ The existing
infrastructure, recently augmented by Banyan, has positioned AurMac to be advanced quickly ;
supporting the four drills currently operating.”
Results from these 17 holes are consistent with previous exploration drilling campaigns at Aurex
Hill, all of which have yielded significant intersections of gold mineralization including 1.11 g/t over
17.9 m from surface in AX-20-57, 0.91 g/t over 20.5 m from surface in AX 20-54 ( see Company
News Release, February 8, 2021), 0.38 g/t Au over 100.0 m in AX-03-16, 0.54 g/t Au over 30.3
m in AX-03 -24 and 0.30 g/t Au over 24.10 m in AX-17-26 ( See Company News Release of
October 4, 2017) and also visible gold (Image 1) . The areal extent of this consistent gold
mineralization and the coincident large-scale gold-in soils anomaly (>10 square kilometers (“sq
km”)) demonstrates the potential for Aurex Hill to add measurably to the mineral resource
catalogue of AurMac, alongside the Airstrip and quickly expanding Powerline gold deposits. The
Aurex Hill zone remains largely untested with significant growth potential and will be a focus of
additional exploration in 2022.
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Image 1: Photographs of visible gold from AX-21-116 128.0 m to 129.5 m which assayed 1.64 g/t
over 1.5 m images A, B, & C and image D from AX-21-131 155.5 m to 157.0 m which assayed
0.22g/t over 1.6 m.
Diamond drilling at the Aurex Hill Zone comprised of seventeen (17) diamond drill holes designed
on a nominal 100 m step-out grid focused on definition and expansion from historic rotary air blast
(“RAB”) and Banyan diamond drill results from 2017 and 2 020 reconnaissance drill programs
which highlighted the mineralization connection potential between the Powerline and Aurex Hill
zones (See Company News Releases dated January 11, 2021 & February 8, 2021). The location
of the drill grid was selected to make use of existing roads for access and previous drill results
before constructing new access into other target areas of Aurex Hill.
Aurex Hill’s gold mineralization is hosted within an extensive sheeted quartz -arsenopyrite vein
system. There exists a well-developed oxide zone to depths of greater than 40 m, co-incident
with an approximately 10 sq km area previously defined by a large coincident gold- and arsenic-
in-soil geochemical anomaly. Over 12,500 m of historic RAB drilling from 442 shallow (less than
50 m) holes along with 15 diamond drill holes have been collared over Aurex Hill historically . A
summary of highlights from the RAB drilling is presented in Table 1 and indicates the
mineralization potential of this area.
A B
C D
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Table 1: Highlights* from Historic RAB Aurex Hill Results
Hole ID
(m)
From
(m)
To
(m)
Interval*
(g/t) Au
93-147 9.2 48.8 39.6 1.18
93-151 18.3 45.7 27.4 0.73
93-153 9.2 30.5 21.3 0.75
93-158 15.2 36.6 21.4 0.93
94-80 3.1 24.4 21.3 0.71
94-114 9.2 27.4 18.2 0.7
94-121 6.1 21.3 15.2 0.97
94-129 12.2 30.5 18.3 0.74
94-133 6.1 30.5 24.4 0.73
94-161 9.2 18.3 9.1 1.54
94-167 6.1 18.3 12.2 0.88
94-174 15.2 27.4 12.2 0.79
94-184 9.2 24.4 15.2 0.78
94-193 3.1 18.3 15.2 1.44
96-67 3.1 30.5 27.4 0.74
* Historic drill results were reported by a previous operator, Yukon Revenue Mines Ltd., utilizing an Atlas Copco BRE
57-01 top hammer rotary percussion drill, in 1993, 1994 and 1996 exploration campaigns . Analytical results were
reported to have been received from the NAL lab in Whitehorse (gold – fire assay with gravimetric finish; antimony,
bismuth and arsenic – atomic absorption spectroscopy); check assays were performed at Chemex Labs. Banyan has
not verified the results, and, therefore, they should not be relied upon. Banyan intends to verify a portion of these
historically reported results as a part of this season's exploration programs.
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Figure 1: 2021 Drill program at Powerline and Aurex Hill, showing historic, completed, and
planned diamond drill holes.
Figure 2: Aurex Hill Drill Hole Locations, showing historic, completed, and planned diamond drill
holes.
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Table 2: 2021 Highlighted Aurex Hill Diamond Drill Analytical Results. Additional highlights, maps,
sections and full assay results available on Banyan’s website).
Hole ID From (m) To (m) Interval* (m) Au (g/t)
AX-21-116 12.2 200.6 188.4 0.27
or 12.2 25.9 13.7 0.59
and 121.9 139.7 17.8 0.81
and 148.9 170.7 21.8 0.49
AX-21-117 16.8 21.3 4.5 0.69
and 35.1 36.6 1.5 1.11
and 131.1 138.7 7.6 0.37
and 196.6 268.2 71.6 0.36
and 228.6 248.4 19.8 0.51
AX-21-118 35.2 219.4 184.2 0.25
and 118.0 161.9 43.9 0.52
including 119.2 128.0 8.8 1.31
AX-21-119 9.1 243.0 233.9 0.23
or 9.1 22.9 13.8 0.66
and 160.0 243.0 83.0 0.33
AX-21-120 10.7 107.3 96.6 0.21
including 164.6 253.8 89.2 0.35
AX-21-121 37.2 71.6 34.4 0.53
Including 40.1 51.8 11.7 1.09
AX-21-122 30.5 33.5 3.0 0.49
and 44.1 71.6 27.5 0.27
and 170.7 184.4 13.7 0.34
AX-21-123 4.6 22.9 18.3 0.4
and 62.8 108.8 46.0 0.41
and 158.5 167.3 8.8 0.29
AX-21-124 9.1 54.9 45.8 0.30
AX-21-125 3.1 218.4 215.3 0.21
and 38.5 41.6 3.1 0.71
and 86.8 91.4 4.6 1.80
and 131.6 143.3 11.7 0.40
and 195.1 219.3 24.2 0.57
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Hole ID From (m) To (m) Interval* (m) Au (g/t)
AX-21-126 22.0 160.6 138.6 0.23
Including 58.4 61.7 3.3 1.93
AX-21-127 64.0 67.8 3.8 0.35
and 82.1 96.0 13.9 0.22
and 115.8 121.9 6.1 0.32
and 145.9 146.3 0.4 1.75
and 187.4 228.6 41.2 0.54
including 187.4 190.5 3.1 2.53
and 239.3 280.8 41.5 0.27
AX-21-128 22.7 173.2 150.5 0.20
including 22.7 47.5 24.8 0.43
And 146.6 184.4 37.8 0.43
AX-21-129 39.5 123.4 83.9 0.25
and 198.2 249.0 50.8 0.41
and 273.4 288.8 15.4 0.84
AX-21-130 32.8 36.7 3.9 0.62
and 73.4 86.0 12.6 0.25
and 100.6 105.3 4.7 0.78
and 157.0 166.1 9.1 0.24
and 209.8 225.3 15.5 0.28
AX-21-131 8.9 146.8 137.9 0.2
including 8.9 39.7 30.8 0.34
and 83.5 118.9 35.4 0.37
AX-21-132 127.1 150.3 23.2 0.40
and 172.2 221.0 48.8 0.27
* 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 sections, along with additional highlighted results and
full database is available on the Banyan’s website.
2021 Drilling Program Update
AurMac drill program has expanded to four (4) drills working onsite and over 30,000 m and over
135 diamond drill holes have been drilled thus far in 2021.
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.
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Analytical Method
All drill core splits reported in this news release were analy sed at SGS Canada in Vancouver,
B.C. utili sing 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 spl it 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, B.C. 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.
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 and exploration activities in
2021 will have additional safety measures in place, following and exceeding all the
recommendations of Yukon’s Chief Medical Officer. Over 95% of Banyan Gold employees and
contractors on site are fully vaccinated.
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 Metal s 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 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.
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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 adjacent 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.
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 insufficient 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 leac h 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.