Banyan Intersects 0.72 g/t Gold Over 197.0 Metres From Surface, Powerline Deposit, AurMac Property, Yukon, Canada
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Banyan Intersects 0.72 g/t Gold Over 197.0 Metres From Surface, Powerline
Deposit, AurMac Property, Yukon, Canada
September 5, 2024 TSX-V: BYN
VANCOUVER, BC, September 5, 2024 - Banyan Gold Corp. (the "Company" or "Banyan") (TSX-
V: BYN ) (OTCQB: BYAGF ) is pleased to announce the analytical results from twelve (12)
diamond drill holes collared this season in the Powerline Deposit located on the
Company’s AurMac Project (“AurMac”), Yukon Territory. These holes were drilled in the north
central portion of the Powerline Deposit as part of Banyan’s ongoing definition and de-risking drill
campaign on the Project.
Assay highlights include:
• AX-24-519: 138.7 metres (“m”) of 0.52 g/t gold (“Au”) from surface (6.1m)
• AX-24-520: 98.1m of 0.72 g/t Au from near-surface (33.7m)
• AX-24-521: 111.4m of 0.52 g/t Au from near-surface (45.5m)
• AX-24-522: 184.3m of 0.60 g/t Au from near-surface (24.9m)
• AX-24-524: 197.0m of 0.72 g/t Au from surface (10.5m)
• AX-24-525: 55.1m of 0.91 g/t Au from surface (5.3m)
“These results increase the confidence and demonstrate the continuity of the near-surface gold
mineralization of the Powerline Deposit, as the AurMac Deposit both continues to add ounces
and advances from an Inferred Resource to an Indicated Resource .” stated Tara Christie,
President and CEO. ”The focus of drilling in 2024 are areas of higher grade which would likely be
part of the mine plan for the PEA planned for late 2025.”
Highlighted results from this set of twelve (12) drill holes are shown in Tables 1, collar locations
in Table 2 and Figure 1 presents the drill hole locations.
The Powerline Gold Deposit is contained within a metasedimentary package consisting of
predominately schists, quartzites and limestones of the Late Proterozoic to Cambrian Hyland
Group. Gold mineralization here is chiefly associated with low angle quartz-sulfosalt-arsenopyrite
veins seen crosscutting all lithologies and is interpreted to be associated with a large intrusion
related gold system typical of the Tombstone Gold Belt and Selwyn Basin gold deposits.
Highlighted instances of visible gold from the holes reported herein are shown in Image 1.
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Image 1: Photographs of visible gold from drill holes:
A) AX-24-519: 85.69m to 85.95m – 10.5 g/t Au
over 0.26m
B) AX-24-520: 91.44m to 92.94m – 19.00 g/t Au
over 1.5m
C) AX-24-522: 27.82m to 27.98m – 11.10 g/t Au
over 0.16m
D) AX-24-525: 38.45m to 38.69m – 7.21 g/t Au
over 0.24m
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Figure 1: AurMac Drill Hole Location Map, showing the location of historic and Banyan completed
diamond drill holes used in 2024 Mineral Resource Estimate (“MRE”) (grey, black and blue dots)
and collar locations of 2024 drill holes (red and green dots).
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Table 1: Highlighted Powerline Diamond Drill Analytical Results . (Maps, sections and full
assay results will be made available on Banyan’s website).
Hole ID From (m) To (m) Interval (m*) Au (g/t)
AX-24-519 6.1 144.8 138.7 0.52
or 6.1 56.3 50.2 0.67
and 65.5 100.7 35.2 0.40
and 124.3 144.8 20.5 1.07
AX-24-520 37.7 135.8 98.1 0.72
AX-24-521 45.5 156.9 111.4 0.52
or 45.5 77.2 31.7 0.29
and 90.0 114.3 24.3 0.93
and 143.9 156.9 13.0 1.87
AX-24-522 24.9 209.2 184.3 0.60
or 24.9 29.3 4.4 1.01
and 42.0 72.3 30.3 0.72
and 86.3 117.6 31.3 0.71
and 137.3 147.7 10.4 1.89
and 163.1 209.2 46.1 0.82
AX-24-523 21.3 83.3 62.0 0.35
or 21.3 30.5 9.2 0.55
and 56.8 83.3 26.5 0.56
AX-24-524 10.5 207.5 197.0 0.72
AX-24-525 5.3 60.4 55.1 0.91
and 81.7 122.1 40.4 0.42
AX-24-526 21.2 139.7 118.5 0.38
or 21.2 44.2 23.0 0.43
and 53.0 95.6 42.6 0.38
and 107.1 139.7 32.6 0.53
AX-24-527 25.6 64.5 38.9 0.31
and 123.6 156.1 32.5 0.30
AX-24-528 19.8 24.3 4.5 0.51
47.4 68.8 21.4 0.77
AX-24-529 50.6 60.8 10.2 0.57
and 104.8 134.2 29.4 0.31
AX-24-530 18.3 58.3 40.0 0.30
*True widths are estimated to be approximately 90% of drilled intervals.
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Table 2: Drill Collar Location for Released Results
Collar ID
East
NAD83_Z8
North
NAD83_Z8 Elev. (m) Azimuth Dip (°) Depth (m)
AX-24-519 467040 7083047 779 356 -60 155.45
AX-24-520 466849 7083054 774.5 360 -61 204.22
AX-24-521 466854 7083153 780.4 003 -60 167.03
AX-24-522 467231 7083163 787.3 005 -59 214.58
AX-24-523 467151 7083054 783.3 006 -60 205.74
AX-24-524 467151 7083153 783.2 006 -58 217.93
AX-24-525 467347 7083134 789 357 -59 178.31
AX-24-526 467345 7083069 790.6 003 -59 141.12
AX-24-527 467319 7082902 792.5 355 -59 158.73
AX-24-528 467449 7082852 797.7 353 -60 150.88
AX-24-529 467549 7082852 804.7 002 -59 156.97
AX-24-530 467648 7082851 809.9 359 -59 164.90
Upcoming Marketing Events
• Precious Metals Summit Beaver Creek – September 10 -13
o Corporate Presentation: September 11 3:45 PM MDT
• Denver Gold Forum Americas – September 15 -18
o Corporate Presentation: September 17 4:50 PM MDT
• Metals Investor Forum Vancouver – September 20 – 21
o Corporate Presentation: September 20
• GCFF Conference (Vancouver) – September 21
o Corporate Presentation: September 21 10:30 AM PDT
2024 Exploration Update
Banyan initiated its 2024 exploration program on June 1, 2024. Eighty-seven (87) drill holes and
over 15,000m of drilling has been completed to date – this campaign continues to prove up the
continuity of the mineralization within the growing Powerline and Airstrip Deposits.
Analytical Method and Quality Assurance/Quality Control Measures
All drill core splits reported in this news release were analysed by Bureau Veritas of Vancouver,
B.C., utilizing the aqua regia digestion ICP -MS 36-element AQ-200 analytical package with FA-
450 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. 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, ½ core duplicates and blanks was implemented in the
2024 exploration drilling program and was monitored as chemical assay data became available.
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About Banyan
Banyan's primary asset, the AurMac Project is adjacent to Victoria Gold's Eagle Gold Mine/Raven
Deposit and Hecla’s high grade Keno silver mine, in Canada’s Yukon Territory. The current
inferred mineral resource estimate (“MRE”) for the AurMac Project of 7.0 million ounces has an
effective date of February 6, 2024.
The 173 square kilometres (“sq km”) AurMac Project lies 40 km from Mayo, Yukon. The AurMac
Project is transected by the main Yukon highway and benefits from a 3-phase powerline, existing
power station and cell phone coverage. Banyan has the right to earn up to a 100% interest, in
both the Aurex and McQuesten Properties respectively, subject to certain royalties.
The inferred MRE for the AurMac Project was prepared on February 6, 2024, and consisted
of 7,003,000 ounces of gold (see Table 1) hosted within near surface, road accessible pit
constrained Mineral Resources contained in two near/on-surface deposits: the Airstrip and
Powerline Deposits.
Table 3: Pit-Constrained Inferred Mineral Resources – AurMac Project(1)(2)(3)(4)(5)
Deposit Gold Cut-
Off
g/t
Tonnage
Tonnes
Average Gold
Grade
g/t
Gold Content
oz.
Inferred
Airstrip 0.30 35,243,000 0.75 845,000
Powerline 0.30 312,243,000 0.61 6,158,000
Combined Inferred 0.30 347,486,000 0.63 7,003,000
Notes to Table 1:
1. The effective date for the MRE is February 6, 2024 and was prepared by Marc Jutras, P.Eng., M.A.Sc.,
Principal, Ginto Consulting Inc., an independent Qualified Person in accordance with the requirements of NI
43-101. The technical report supporting the Resource Estimate entitled “AurMac Property, Mayo Mining
District, Yukon Territory, Canada” (the “Technical Report”) has been filed on SEDAR at www.sedarplus.ca on
March 18, 2024.
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 Definition Standards 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 0.30 g/t gold for all deposits, 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 $1,800/ounce,
US$2.50/t mining cost, US$5.50/t processing cost, US$2.00/t G+A, 80% gold recoveries, and 45° pit slopes.
5. The number of tonnes and ounces was rounded to the nearest thousand. Any discrepancies in the totals are
due to rounding effects; rounding followed the recommendations as per NI 43-101.
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Detailed images of the Mineral Resource model, including an interactive 3D model and additional
information can be found at: https://www.banyangold.com/projects/aurmac/
In addition to the AurMac Property, the Company holds the Hyland Gold Project, located 70 km
Northeast of Watson Lake, Yukon, along the Southeast end of the Tintina Gold Belt (the “Hyland
Project”). The Hyland Project represents a sediment hosted, structurally controlled, intrusion
related gold deposit, within a large land package (over 125 sq km), accessible by a network of
existing gravel access roads.
Banyan trades on the TSX -Venture Exchange under the symbol “ BYN” and is quoted on the
OTCQB Venture Market under the symbol “ BYAGF”. For more information, please visit the
corporate website at www.banyangold.com or contact the Company.
Qualified Persons
Paul D. Gray, P.Geo., is a “Qualified Person” as defined under NI 43-101, and has reviewed and
approved the content of this news release. Mr. Gray is a geological consultant to Banyan and
has verified the data disclosed in this news release, including the sampling, analytical and test
data underlying the information.
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, its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) nor OTCQB Venture Market 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 and is based upon the Company’s current internal expectations, estimates, projections,
assumptions and beliefs. Such information can generally be identified by the use of forwarding -looking wording such
as “may”, “will”, “planned”, “expect”, “estimate”, “anticipate”, “intend(s)”, “believe”, “potential” 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 Company’s plans for exploration; and stateme nts regarding exploration expectations, ease and
confidence in increasing ounces, exploration or development plans and timelines; mineral resource estimates; mineral
recoveries and anticipated mining costs. Factors that could cause actual results to differ materially from such forward-
looking information include uncertainties inherent in resource estimates, continuity and extent of mineralization, capital
and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in
obtaining or failures to obtain required governmental, environm ental or other project approvals, political risks,
uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation,
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changes in exchange rates, fluctuations in commodity prices, 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 do cuments 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 d ate 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 informa tion, future events or otherwise, other than as
required by law.