Banyan Hits High Grade GOLD at Aurex-Mcquesten Property, Yukon
BANYAN HITS HIGH GRADE GOLD AT AUREX-MCQUESTEN PROPERTY, YUKON
September 9, 2019 TSX-V: BYN
BANYAN GOLD CORP. (“Banyan” or “The Company”), is pleased to announce results from the four
diamond drill holes and two surface trenches from the 2019 exploration campaign at the McQuesten Gold
Zone of the Aurex-McQuesten Gold property, Yukon. These four holes were positioned to test the extent
and distribution of higher -grade intervals interpreted from Banyan’s geological model. These holes
targeted over 160m of northeast/southwest trend of mineralization identified from previously drilled
holes: MQ-03-09, MQ-17-26, MQ-18-30 and MQ-18-37 at the McQuesten Gold Zone. Within each of these
drillholes, multiple intervals returned mineralized intercepts with gold grades greater than 1.00 g/t Au (up
to 84.80 g/t Au over 1.1m).
The 2019 drilling was a marked success, every hole in the McQuesten Gold Zone returned consistent, long
intervals of gold mineralization ranging from 0.4 to 0.94 g/t Au from surface punctuated by higher-grade
zones such as:
• 0.94 g/t Au over 71.4 m, including 3.1 g/t Au over 8.8 m from 127.4 m in MQ-19-44
• 5.01 g/t Au over 5.3 m from 94.7 m in MQ-19-42
• 3.23 g/t Au over 11.8 m from 89.3 m in MQ-19-43
• 112.3 g/t Au over 0.1 m from 18.2 m in MQ-19-45
“The positive drill testing of this high grade area, within the McQuesten Gold Zone, has validated the
geological model for the Aurex-McQuesten Property” stated Christie, President and CEO. The results from
the four drill holes demonstrate the thickness and extent of the pyrrhotitic -rich retrograde skarn altered
horizons which host higher grade-width intervals. Additionally, the repeated multi-ounce gold intervals
intersected during this program underscore the important contribution these hosting discordant quartz
veins can play towards building ounces at the McQuesten Gold Zon e. We believe the potential exists for
further application of the model on many of the areas of the property that have yet to be explored.”
The table below summarizes the results from Banyan’s 2019 drilling of the McQuesten Gold Zone:
Table 1: 2019 McQuesten Gold Zone Drillhole Results
Hole ID From
(m)
To (m) Interval
(m)*
Au (g/t)
MQ-19-42 6.1 111.2 105.1 0.56
including 26.1 27.1 1.0 2.14
including 34.8 36.5 1.8 1.29
including 41.3 44.2 3.0 1.08
Including 94.7 99.9 5.3 5.01
MQ-19-43 28.1 101.1 73 0.79
including 39.9 42.2 2.2 2.50
Including 89.3 101.1 11.8 3.23
MQ-19-44 67.7 139.1 71.4 0.94
including 71.0 73.1 2.1 4.99
including 76.5 76.8 0.3 1.08
including 106.8 107.4 0.6 26.3
including 127.4 136.2 8.8 3.07
including 137.1 137.3 0.2 15.3
MQ-19-45 6.1 115.8 112.8 0.41
including 9.1 9.7 0.6 6.39
including 18.2 18.3 0.1 112.3
including 29.8 32.00 2.2 2.82
including 65.6 66.0 0.4 3.11
including 90.4 90.6 0.2 4.85
*True widths are considered to be greater than 90% of the reported intervals
Four distinct styles of mineralization were observed in the 2019 McQuesten Gold Zone drilling program
all of which continue to build out and contribute to the geological model:
1. Sheeted quartz veins with pyrite-pyrrhotite+/-arsenopyrite +/-chalcopyrite
• 112.3 g/t Au over 0.1 m from 18.2 m in MQ-19-45
2. Pervasive disseminated pyrrhotite
• 2.14g/t Au over 1.0m from 26.1 m in MQ-19-42
3. Stratabound retrograde skarn (actinolite-chlorite) altered horizons with semi-massive to massive
pyrrhotite+/-arsenopyrite+/-scheelite+/-chalcopyrite
• 3.23 g/t Au over 11.8 m from 89.3 m in MQ-19-43
4. Quartz-calcite-siderite breccias and veins with sphalerite-galena+/-pyrrhotite
• 1.08 g/t Au, 65.1 g/t Ag, >1% Pb, >1% Zn over 0.3m in MQ-19-44
Historical (1992)open-cut mining of “NW trending” veins by a Yukon miner on the western edge of the
McQuesten gold zone resulted in the collection of 17 tons of limonite, pyrrhotite skarn material grading
1.29 oz/ton Au with a processing gold recovery of 98.3% . This year’s drilling has demonstrated similar
high grade gold exists elsewhere on the property and that the mineralization model developed internally
works to target these zones.
Trenches at the McQuesten Gold Zone were constructed to test the strike extent of the McQuesten Gold
Zone and identified large intervals of oxidized gold mineralization at surface. Limestone, graphitic schist,
calcareous schist, and quartzite lithologies were all noted within these trenches, consistent with what has
been observed in the McQuesten drilling as are the reported gold grades and widths; including:
• 144.0 m of 0.56 g/t Au in TR-MQ-19-01
• 31.0 m of 1.06 g/t Au in TR-MQ-19-02
The table below summarizes the results from Banyan’s 2019 trenches at the McQuesten Gold Zone:
Table 2: 2019 McQuesten Gold Zone Trench Results
Trench ID From
(m)
To (m) Interval (m) Au
(g/t)
TR-MQ-19-01 0.0 144.0 144.0 0.558
including 16.0 18.0 2.0 16.8
including 68.0 70.0 2.0 5.62
TR-MQ-19-02 0.0 31.0 31.0 1.06
including 4.0 8.0 4.0 4.28
including 14.0 16.0 2.0 1.90
including 24.0 26.0 2.0 4.22
A set of plan maps and sections to accompany this news release will be made available on the Company
Website. The 2019 program was partially supported by a Yukon Governments Yukon Mineral Exploration
Program (YMEP) grant.
The 2019 Aurex-McQuesten program consisted of eight holes totalling 997.3 meters (503.5 metres at
Powerline and 493.8 metres at McQuesten) with 666 core samples submitted for assay. Additionally,
two surface trenches totaling 175 metres were excavated, mapped and sampled at the McQuesten
target. Finally, 56 soil samples were collected and analyzed by XRF.
The McQuesten Gold Zone benefits from exceptional existing infrastructure, including being proximal to
the Silver Trail Highway, the McQuesten Road, Yukon Energy’s McQuesten switching station, powerlines
and even cell phone service. The communities of Keno and Mayo, Yukon are nearby and the project is
adjacent to Alexco Resource Corp’s property and Victoria Gold’s Eagle heap leach mine is 40 km away.
Upcoming Events
Banyan Gold will be attending the Precious Metals Forum in Beaver Creek, September 11-14, 2019.
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 trench samples collected from the 2019 Aurex -McQuesten program were analyzed at
Bureau Veritas Minerals of Vanc ouver, 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. 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
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 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 9,230 ha Aurex-McQuesten Property, in close proximity to Victoria Gold's Eagle Project and Alexco
Resource's Keno Hill Silver District, is highly prospective for structurally controlled, intrusion related
gold-silver mineralization in relation to quartz monzonite dykes of the Tombstone intrusive suite. The
property hosts numerous known gold targets and Banyan has developed a mineralization model at the
McQuesten Gold target, located adjacent to the main Yukon highway and on the access road to the
Victoria Gold heap leach mine.
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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exploration or development plans and mineral resource estimates. Factors that could cause actual results to differ materially from
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