Banyan Makes New Discovery ON Aurex-Mcquesten GOLD Property, Yukon
BANYAN MAKES NEW DISCOVERY ON AUREX-MCQUESTEN GOLD PROPERTY,
YUKON
September 3, 2019 TSX-V: BYN
BANYAN GOLD CORP. (“Banyan” or “The Company”), is pleased to announce results from the first four
diamond drill holes from the recently completed drill campaign on the Powerline Zone on the Aurex -
McQuesten property, Yukon. The first four holes of the eight-hole, two trench program across the Aurex-
McQuesten property targeted the Powerline Zone, an undrilled area one kilometer south of the main
McQuesten Gold Zone, on the Aurex Claim block.
Highlights from the Powerline discovery drillholes include consistent, long intervals of approximately 0.5
g/t Au from surface (as at the McQuesten Showing) punctuated by higher-grade intervals such as:
• 2.89 g/t Au over 4.6 m from 25.9 m in AX-19-30
• 1.46 g/t Au over 7.4 m from 44.2 m in AX-19-30
• 1.42 g/t Au over 4.6 m from 30.5 m in AX-19-31
• 48.1 g/t Au over 0.4 m from 71.6 m in AX-19-31
• 1.24 g/t Au over 4.2 m from 49.6 in AX-19-33
“The successful drill testing of this area now greatly increases the mineralized tonnage potential of the
Aurex-McQuesten claim block” stated Christie, President and CEO. “ The results from the four Powerline
drill holes demonstrate the geological model developed by Banyan can be used to identify new targets
that have the potential to host near-surface gold mineralization with economic potential. The Powerline
target is immediately adjacent to the year-round accessible Silver Trail Highway, a three-phase power line
and a Yukon Energy Corporation switching station that delivers power to the Eagle Gold Mine. The long
intercepts from surface are similar to what we see at Victoria Gold’s Eagle project”
The table below summarizes the assay results from Banyan’s drilling of the Powerline Zone:
Table 1: 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 70.1 25.9 0.57
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 97.5 85.8 0.48
or 11.7 13.8 2.1 1.16
and 30.5 86.1 56.0 0.66
including 30.5 35.1 4.6 1.42
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 11.2 30.8 19.5 0.30
AX-19-33 44.2 91.4 47.2 0.64
including 44.2 91.4 47.2 0.64
including 44.2 46.3 2.2 1.12
including 49.6 53.8 4.2 1.24
including 56.0 56.3 0.3 3.59
including 82.2 83.8 1.6 4.51
including 86.0 87.9 2.0 2.08
Including 90.1 91.4 1.3 3.12
• true widths are not known at this time
The shallow 2019 Poweline drillholes were designed to test a prospective target identified by applying the
geologic model developed at McQuesten to the property wide drilling database, surface (rocks, soils,
trenches) geochemical database, and airborne geophysical surveys. The McQuesten Gold Zone is a known
unit that consists of an approximately 90 metre thick calcareous package that transects the McQuesten
Claim Block and is interpreted to host gold mineralization preferentially stratabound retrograde skarn
(actinolite-chlorite) altered horizons with semi -massive to massive pyrrhotite+/ -arsenopyrite+/-
sheelite+/-chalcopyrite and anomalous in bismuth and tellurium. Similar geologic controls were noted in
the 2019 Powerline core.
A set of plan maps and sections to accompany t his news release will be made available on the Company
Website. The 2019 program was partially supported by a Yukon Government Yukon Mineral Exploration
Program (YMEP) grant.
In total during the 2019 Aurex -McQuesten program, eight holes totalling 997 meters (504 metres at
Powerline and 49 4 metres at McQuesten) were drilled 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.
Results from the remaining McQuesten drillholes and trenches will be released as they are received.
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 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 processing facilities in Elsa, Yukon. Once split, half samples were placed
back in the core b oxes 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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contains forward-looking information, which is not comprised of historical fact s. Forward-looking information involves risks,
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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
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in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development
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