Banyan Reports 72.5 M of 1.53 G/T GOLD at Powerline Deposit, Aurmac Property, Yukon
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BANYAN REPORTS 72.5 M OF 1.53 G/T GOLD AT POWERLINE DEPOSIT,
AURMAC PROPERTY, YUKON
January 10, 2022 TSX-V: BYN
VANCOUVER, BC, January 10, 2022 – Banyan Gold Corp. (the " Company" or "Banyan")
(TSXV: BYN) is pleased to release analytical results from the next five (5) additional diamond drill
holes received from the 2021 exploration campaign at the rapidly developing Powerline Deposit
at the Company’s AurMac Property in the Yukon Territory (see Table 1 and Figures 1 and 2).
Assay highlights from the latest batch of assays received from the 2021 exploration campaign at
the Powerline Deposit include:
• 84.5 metres (“m”) of 1.32 g/t Au from surface (10 m) in DDH AX-21-151
o Including 72.5 m of 1.53 g/t Au from 22 m
o Including 3.1 m of 19.5 g/t Au from 76.2 m
• 79.7 m of 0.43 g/t Au from 43.3 m in DDH AX-21-136
• 51.8 m of 0.60 g/t Au from surface (4.2 m) in DDH AX-21-159
“Assays from these 100 m centered drill holes continue to demonstrate the on-surface and near-
surface gold mineralization potential of the Powerline Deposit, as well as the continuity of the
mineralization across this growing zone." stated Tara Christie, President and CEO . “Field crews
are currently preparing to resume drilling at the AurMac Property this month with a focus to follow
up on the encouraging 2021 Powerline Deposit results through further expansion of the
mineralized footprint.”
Results from the latest five (5) drill holes reported herein are consistent with previous exploration
drill campaigns at the Powerline Deposit (see Figures 1 and 2). The areal extent of interpreted
gold mineralization from surface continues to expand with every new drill hole; from the initial
250 m by 250 m of the Powerline Resource (see Table 2), to now well over 2 km x 2 km (see
Figures 1 and 2).
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Image 1: Photographs of visible gold from:
A) AX-21-136: 260.0 m to 261.6 m which assayed 1.11 g/t Au over 1.6 m;
B) AX-21-159: 94.5 m to 95.6 m which assayed 1.47 g/t Au over 1.1 m;
C) AX-21-159: 19.2 m to 20.1 m which assayed 0.85 g/t Au over 0.9 m; and
D) AX-21-159: 37.3 m to 38.6 m which assayed 2.19 g/t Au over 1.3 m
A
B
D
C
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Figure 1: The Powerline Deposit and Aurex Hill Drill Program Plan Map, showing historic,
completed, and proposed 2022 diamond drill holes.
Figure 2: Powerline Drill Hole Locations and Drill Plan Map, showing historic, completed, and
2022 proposed diamond drill holes.
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Table 1: 2021 Highlighted Powerline Diamond Drill Analytical Results. Maps and full assay results
are available on Banyan’s website).
Hole ID From (m) To (m) Interval* (m) Au (g/t)
AX-21-136 43.3 212.4 169.1 0.31
Or 43.3 123.0 79.7 0.43
Including 152.2 212.4 60.2 0.27
And 260 261.6 1.6 1.11
AX-21-144 30.6 137.0 106.4 0.20
Including 101.6 102.8 1.2 4.95
AX-21-147 78.9 179.4 100.5 0.30
Including 78.9 80.1 1.2 4.11
Including 154.1 156.4 2.3 2.90
AX-21-151 Surface (10.0) 94.5 84.5 1.32
Or 22.0 94.5 72.5 1.53
Including 36.6 47.0 10.4 2.12
Including 54.9 56.4 1.5 4.82
Including 76.2 79.3 3.1 19.50
Including 79.3 80.8 1.5 3.32
And 163.3 164.6 1.3 1.15
And 178.1 179.7 1.6 1.09
AX-21-159 Surface (4.2) 56.0 51.8 0.60
Including 13.5 19.2 5.7 2.72
And 93.1 106.7 13.6 0.39
And 127.5 128.9 1.4 2.13
And 193.5 194.3 0.8 8.50
* True widths are estimated to be greater than 90% of the reported intervals. Azimuth is 0 00° and the dip is negative
60° for all holes. Detailed collar locations, azimuth and dip information is available on the Company’s website.
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Figure 3: Section through Powerline Deposit, demonstrating grade continuity. Section is looking
north (all holes are oriented to the north with negative 60 degree inclination and projected on to a
vertical plane at 7083150N).
Detailed maps and a spreadsheet wi th full drill results , locations, azimuth and dip information is
available on Banyan’s website. Additional sections will be made available when additional assay
results from drill holes on the sections have been received.
Exploration Update – 2022 Program
In 2021, Banyan completed 30,091 m of drilling in 135 diamond drill holes, with assay results from
63 drill holes remaining outstanding. Assays are reported as they are received and have not been
received in numerical order. Drilling activities continued until mid-December 2021, and thus drill
assay results are expected to continue to be received into May 2022.
Diamond drilling at the AurMac Property since the announcement of the maiden resource in Q1
2020 (see Table 2) is now over 40,000 m, all of which have targeted resource expansion at the
Airstrip Deposit and Powerline Deposit, as well as assessment of resource potential at the Aurex
Hill zone.
The planned 2022 AurMac Property exploration campaign currently has 30,000 m of diamond
drilling proposed – split between the Powerline Deposit and Aurex Hill targets, with three (3) drill
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rigs slated to commence activities later this month. Additional drill locations will be determined
after a complete review of all analytical results is available.
Analytical Method
All drill core splits reported in this news release were analysed at SGS Canada in Vancouver, BC
utilising 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 reanalysed utilising an ad ditional 30g Fire Assay Gravimetric Finish (SGS
Package GO_FAG30V). 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 pol y 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, BC
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 National Instrument 43-101, Standards of Disclosure for Mineral Projects
(“NI 43-101”), and has reviewed and approved the content of this news release. Mr. Gray has
verified the data disclosed in this press release, including the sampling, analytical and test data
underlying the information
Upcoming Events
● Metals Investor Forum, Virtual Conference – January 14 & 15, 2022
● AMEBC Round-Up – January 31 to February 3, 2022
● CEM Whistler Capital Conference – February 18 to 20, 2022
● BMO 31st Global Metals & Mining Conference – February 27 to March 2, 2022
● PDAC 2022 – March 7 to 9, 2022
● Vancouver Resource Investment Conference – May 16 & 17, 2022
o Booth and Presentation
All events are subject to change.
COVID-19 Update
Banyan continues to take proactive measures to protect the health and safety of our Yukon
communities, our contractors and our employees from COVID 19. Exploration activities will
continue to have additional safety measures in place, regularly updated to follow and exceed all
the recommendations of Yukon’s Chief Medical Officer.
About Banyan
Banyan's primary asset, the AurMac Property is comprised of the Aurex and McQuesten
properties, as well as claims staked and owned 100% by Banyan Gold, and adjacent to Victoria
Gold's Eagle Gold Mine, in Canada’s Yukon Territory . The AurMac Property initial resource of
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903,945 oz Au (see Table 2 below) was announced in May 2020. Our major strategic
shareholders include Franklin Gold and Precious Metals 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.
The 173 sq km AurMac Property lies 30 km from Victoria Gold's Eagle Project and adjacent to
the Keno Hill Silver District operated by Alexco Resource Corp. (“Alexco”) 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. switchi ng 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 for the AurMac Property prepared in accordance with
the requirements of NI 43-101 is 903,945 ounces of gold (see Table 2). It is a near surface, road
accessible pit constrained Mineral Resource contained in two near/on-surface deposits: the
Airstrip and Powerline deposits.
Table 2: 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 Re source Estimate prepared in accordance with 43- 101 requirements by Marc Jutras, P.Eng.,
M.A.Sc., Principal, Ginto Consulting Inc, with technical report filed on SEDAR on 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 leach recoveries
of 86%. The project has an existing gravel access road.
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Table 3 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.
Table 3: Hyland Main Zone Indicated Gold Resource Estimate
Cut-off
Grade
(AuEq g/t)
In situ
Tonnes
Au Ag AuEq
Grade
(g/t) Ozs
Grade
(g/t) Ozs
Grad
e (g/t) Ozs
Indicated
0.3 8,637,000 0.78 216,000 7.04 1,954,000 0.85 236,00
0
Inferred
0.3 10,784,000 0.77 266,000 5.32 1,845,000 0.83 288,00
0
Notes:
1. Mineral resources which are not mineral reserves do not have demonstrated economic viability.
2. All figures are rounded to reflect the relative accuracy of the estimate.
3. 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.
4. Mineral Resource Estimate prepared in accordance with NI 43-101 by Robert Carne, Allan Armitage and Paul
Gray dated and filed on SEDAR on May 1, 2018.
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 • 778 928 0556 • [email protected]
Jasmine Sangria • 604 312 5610 • [email protected]
CAUTIONARY STATEMENT: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
No stock exchange, securit ies 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. 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. 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 potential
for the Powerline Deposit to host on-surface and near -surface gold mineralization; the future expansion of the