Banyan Release Results on Final Two Drill Holes on the McQuesten Target
Banyan Release Results on Final Two Drill Holes on the McQuesten Target
September 13, 2017 TSX-V: BYN
BANYAN GOLD CORP. (“Banyan” or the “Company”) is pleased to release assay
results from the final two McQuesten Zone exploration drill holes collared during the
recently completed Phase I, ten-hole exploration diamond drill campaign on the Aurex -
McQuesten Property this season. These holes represent the last two holes drilled on
the McQuesten Zone of the Aurex-McQuesten Property and were designed to target the
eastern portion of the McQuesten Zone.
Highlighted results from these exploration drill holes include: 107.7 metres of 0.7 g/t
gold from 33.7 to 141.4 metre s in MQ17 -029 and 19.1 metres of 0.7 g/t Au from drill
hole MQ17-28 from 77.8 metres to 96.9 metres. These long intersections of anomalous
mineralization were punctuated by high -grade intervals such as 4.1 metres of 2.4 g/t
gold from 77.8 to 81.9 metres i n MQ17-028 and 1.5 metres of 8.4 g/t gold from 110.6
to 112.1 metres in drill hole MQ17-029.
Holes MQ17 -028 and MQ17 -029, were 50 metre step out holes, off -section and on -
section, respectively with previous exploration drillholes, in an area that included drill
intercepts of up to 120 m grading 1.36 g/t Au with intervals of up to 1.5 m grading 8.89
g/t Au ( MQ03-009 - see Company news release dated May 25, 2017), and has
expanded the area of known mineralization continuity with these results.
Tara Christie, President & CEO commented “ These long intercepts of anomalous gold
mineralization have confirmed and extended the known near-surface gold mineralization
at the McQuesten Zone and more importantly have defined sections of higher grade
mineralization at b oth near surface and to depth. Trenching completed at the
McQuesten Zone has greatly increased our knowledg e of the mineralization and
structure in the Zone and on the Property as whole; a ided by the significant number of
soils samples collected this year and a detailed geophysical compilation of historic and
newly acquired airborne magnetic data , Banyan is in an prime position to begin to
unlock the value of the large Aurex-McQuesten land package.”
McQuesten East Zone
Results from these two additional diamond drill holes that targeted the east end of the
McQuesten Showing area are presented in the summary table below.
Hole # Comment From
(m)
To
(m)
Interval
(m)
Gold
(g/t)
Silver
(g/t)
MQ17-028 36.2 45.4 9.2 0.6 0.6
incl. 36.2 36.6 0.4 7.6 2.7
also 72.6 107.4 34.8 0.7 0.4
incl. 77.8 96.9 19.1 0.9 0.4
incl. 77.8 81.9 4.1 2.4 0.7
MQ17-029 33.7 141.4 107.7 0.7 0.8
incl. 67.0 79.2 12.2 1.0 1.2
incl. 96.1 98.4 2.3 4.4 1.0
incl. 110.6 112.1 1.5 8.4 2.0
incl. 120.0 136.3 16.4 0.9 0.4
which incl. 120.0 122.6 2.6 3.9 1.0
On the McQuesten property the gold mineralization is both structurally and chemicall y
controlled; with broad areas of skarn -related mineralization and punctua ted with
structural related traps with known higher grade mineralization. Anomalous gold values
are interpreted to be associated with retrograde pyrrhotiti e skarns, quartz-arsenopyrite-
pyrite veins and locally, with the siderite-base metal bearing veins and breccias.
All holes into the McQuesten showing intercepted anomalous gold mineralization,
expanding the known exte nt of the skarn minerali zation and structural traps for gold.
Maps and summary table of all 2017 McQuesten target drillholes can be located on the
Company’s website http: http://www.banyangold.com/projects/aurex-mcquesten/
A surface trench program was undertaken at the McQuesten Zone in conjunction with
the dia mond drilling activities and returned similar length intervals of anomalous gold
mineralization including: 30 metres of 1.0 g/t gold in Trench TR17-03 and 20 metres of
1.1 g/t Au in Trench TR17-02. A total 435 samples from 406 m etres on 4 separate
trenches were collected and analyzed. The trenches were d esigned as confirmatory
and as well as expanding the area of known gold mineralization, with new trenches
cutting obliquely across old trenches to extend known surface mineralization and gain
structural and mineralogical knowledge in order for Bayan to develop a geological
model to define future drill programs.
A summary of the results from the Trenches are presented in the table below:
Hole # Comment From
(m)
To
(m)
Interval
(m)
Gold
(g/t)
Silver
(g/t)
TR17-01 2 46 44.0 0.5 6.8
McQuesten incl. 12 16 4.0 1.8 0.8
incl. 14 16 2.0 3.0 1.4
26 28 2.0 0.7 1.1
40 42 2.0 1.8 16.8
82 90 8.0 0.6 0.0
TR17-02 32 34 2.0 3.4 1.7
44 64 20.0 1.1 1.1
incl. 46 60 14.0 1.5 1.6
80 88 8.0 0.3 0.0
TR17-03 34 126 92.0 0.4 0.5
incl. 34 64 30.0 1.0 0.4
which incl. 48 50 2.0 1.1 0.0
and incl. 60 62 2.0 9.8 2.5
and 84 86 2.0 0.6 0.8
and 110 112 2.0 0.6 0.8
and 124 126 2.0 0.8 0.9
TR17-04 46 48 2.0 1.6 0.8
Compilation of Existing Geophysics by Aurora Geophysics
As part of the geological data compilation pr ogram that Banyan undertook with resp ect
to the combined Aurex-McQuesten property and to assist with exploration targeting at
the Property, in June of 2017, Aurora Geosciences (“Aurora”) of Whitehorse, Y T was
contracted to ass ist with the multiple vintages and types of geophysical datasets t hat
have been conducted on the p roperties over the years. In mid -August, Aurora
delivered a final re port complete with detailed com bined datasets for each of the
available Magnetic, Induced Polarization, and Electromagnetic surveys that have been
conducted on the Property to date.
In specific, multiple magnetic data (from two airborne surveys and three ground
surveys) were compiled and analyzed with the ground magnetic data from 2012, 2003,
and 1995, levelled and consolidated into a single database with commiserate datum
shifts were applied to bring them in line with the 1996 and 2000 airborne surveys. Data
from three IP surveys conducted on the Property (two from 1998 and one from 2003)
were also evaluated and merged into a single dataset. Lastly, five sep arate VLF-EM
surveys (two from 1995, and one each from 1996, 2006 and 2012) were also compiled
into a single dataset.
This combination and evaluation of hitherto disparate datasets is part of the value -add
that Banyan has brought to the Aurex -McQuesten Project, with a single company
compiling these valuable datasets into a single database for the first time. The targets
generated by this inexpensive study have taken advantage of over 20 years of quality
geophysical datasets and together have created a Property W ide dataset greater than
the sum of the parts.
In addition to compiling historic geophysical datasets, Banyan hired Precision
Geosurveys of Langley, B.C., to fly 181 line-km of radiometrics and aeromagnetics over
an area of eight (8) km2 at tight ( nominal 50m) line spacing over the McQuesten and
Aurex Hill showings – targeting known exposures of mineralization in an effort to help
distinguish similar signatures elsewhere on the Property.
The Aurex-McQuesten Property
The McQuesten showing area is a n approximately 1,000 metre x 400 metre wide zone
of known near-surface gold and silver mineralization, where previous exploration results
include drill intercepts of up to 120 m grading 1.36 g/t gold with intervals of up to 1.5 m
grading 8.89 g/t gold (see Company news release dated May 25, 2017) and also more
recent results of 2.62 g/t g old over 3.1 m, including 9.98 g/t g old over 0.6 m from hole
MQ17-024 (see Company news releases dated August 28, 2017) and today’s results of
107.7 m of 0.7 g/t gold from 33.7 to 141.4 m in MQ17-029 and 19.1 m of 0.7 g/t Au from
drill hole MQ17 -28 from 77.8 m to 96.9 m, including high -grade intervals such as 4.1
metres of 2.4 g/t gold in MQ17-028 and 1.5 m if 8.4 g/t gold in MQ17-029.
Banyan acquired the Aurex property from Victoria Gold Corp, and the McQuesten
property, from Alexco Resource Corp in May of 2017 (see Press Release May 25,
2017). The Aurex and McQuesten properties are contiguous properties that comprise
approximately 8,230 hectares and 1,000 hectares respect ively, and together represent
a large property highly prospective for intrusive -related gold mineralization which
includes zones of historic gold production (lode and placer), in the prolific Mayo Mining
District, Yukon Territory. Additionally, both Victoria Gold Corp. and Alexco Resource
Corp. are strategic partners on this project, providing camp, geological and financial
support.
Banyan’s inaugural exploration program at the Aurex -McQuesten Project consisted of a
property wide g eochemical soil surveys (1,114 soil samples), 464 metres of trench
sampling, inclusive of the reopening/remapping of historic trenches (235 trench
samples) along with a 1,421.89 metres diamond drill program from 10 holes (1,007 drill -
core samples).
The exploration target at the Aurex -McQuesten Project is near surface gold
mineralization in meta -sedimentary host rocks related to interpreted buried intrusive
stocks. Structural traps are known to control intrusion -related gold-silver mineralization
in this area and defined gold mineralization on the property occurs in sheeted quartz
veins, silicified skarn horizons, and quartz-monzonite dykes similar to mineralization at
Victoria Gold’s nearby Eagle Gold Project, as well as silver mineralization related to
faults similar to those found at Alexco Resource’s Keno Hill Silver District.
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 samples collected from the Aurex McQuesten program were analyzed at
Bureau Veritas of Burnaby, B.C. utilizing the four acid digestion ICP -MS 35 -element
MA300 analytical package with FA450 50 -gram Fire Assay with AAS finish for g old on
all samples. All core samples were split on -site at Banyan’s core processing facilities at
Alexco Resource Corp.’s Elsa processing facility. 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. All these samples were shipped 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 was
implemented in the 2017 exploration drilling program and was monitored as chemical
assay data became available.
About Banyan Gold
Banyan is a well -financed growth stage gold exploration company whose flagship
property, the Hyland Gold Project, is approximately 70km NE of Watson Lake, Yukon,
along the southeast end of the Tintina Gold Belt.
The Hyland Main Zone Inferred Gold Resource Estimate, prepared in accordance with
NI 43-101, at a 0.6g/t gold equivalent cutoff, containing 12,503,994 tonnes with 361,692
ounces gold at 0.9g/t and 2,248,948 ounces silver at 5.59g/t for a combined gold and
silver of 396,468 ounces gold equivalent at 0.99 g/t.
The newly acquired 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
perspective for structurally controlled, intrusion related gold -silver minerali zation in
relation to quartz monzonite dykes of the Tombstone intrusive suite.
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]
CAUTIONARY STATEMENT: The TSX Venture Exchange does not accept 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. This news release contains forward-looking information, which is not
comprised of historical facts. 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, Banyan’s objectives, goals or future plans, statements regarding exploration expectations, exploration or
development plans and the timing of negotiating the definitive agreements. Factors that could cause actual results to
differ materially from such forward -looking information include, but are not limited to, uncertainties inherent to
preparing a resource estimate within expected timeline, 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. Paul D. Gray of Banyan Gold Corp. is a “qualified person” within the meaning of such term as set
forth in National Instrument 43-101 of the Canadian Securities Administrators, and has verified and supervised the
preparation of all of the scientific and technical information contained in this news release.
Statements in this news release regarding Banyan Gold which are not historical facts are “forward-looking
statements” that involve risks and uncertainties. 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.