Banyan Reports Results of Four DDH’s, Including 36.24m of 1.30 g/t Au at Hyland, a Carlin Style Deposit
Banyan Reports Results of Four DDH’s, Including 36.24m of 1.30 g/t Au at
Hyland, a Carlin Style Deposit
September 18, 2017 TSX-V: BYN
BANYAN GOLD CORP. (“Banyan” or the “Company”) is pleased to announce results from
the first four holes of its 2017 Exploration Program at its wholly owned , the Hyland Gold Project
(the “Property”) in the Yukon’s emerging Carlin-style district.
Tara Christie, President & CEO, states “ This year’s $1 million exploration program on the
Property is affording Banyan the opportunity to expand the known Inferred Resource of the Main
Zone Deposit, and also to further explore the regional scale potential of this very large land
package. Rob Ca rne, P.Geo., who was instrumental in the discovery of the Main Zone in the
1980’s has been involved with the Hyland Gold Project this season and with his guidance we
are greatly expanding our understanding of the structure and geological model of the P roperty
and putting that knowledge to use at the end of the drill-bit.”
The on-going 2017 diamond drill program is focused on critical in -fill drill holes as well as step -
out drilling concentrated on the Hyland Gold Main Zone gold -silver deposit. This year’s
exploration efforts are focused on the northern portion of the Main Zone which has experienced
only limited testing to date. Challenging topography and a lack of heavy eq uipment suitable to
construct access to this portion of the Main Zone precluded cond ucting any drilling in this area
during previous years. The combination of excavator and bulldozer, which were mobilized to
Hyland in 2015 along with the diamond drill and fuel on the Company’s fully permitted winter
access road, are the first equipment to be on the Hyland Gold Project capable of opening this
area for resource definition drill holes.
These results are the first of over 20 planned holes into Main Zone this year, and have begun
the process of building gold ounces within the deposit. Highlighted results from these four 2017
exploration drill holes include: 15.3 metres of 0.99 g/t gold and 4.3 g/t Ag from 67.0 to 82.3
metres in HY17-051 and 36.24 metres of 1.3 g/t Au from drill hole HY17-054 from 162.3 metres
to 198.5 metres. These long intersections of gold mineralization were punctuated by high-grade
intervals such as 1.1 metres of 3.3 g/t gold from 74.5 to 75.6 metres in HY17-051 and 2.0
metres of 5.2 g/t gold from 178.0 to 180.0 metres in drill hole HY17-054.
The full results from the four 2017 drillholes are provided in the following table and a map with
drillhole locations can be located on the company website
(http://www.banyangold.com/projects/hyland/).
Hole # Comment From
(m)
To
(m)
Interval
(m)
Gold
(g/t)
Silver
(g/t)
HY17-051 20.5 141.7 121.2 0.41 2.41
incl. 33.5 36.7 3.2 1.76 12.86
and incl. 67 82.3 15.3 0.99 4.3
and incl. 71.8 73.2 1.4 1.19 3.6
and incl. 74.5 75.6 1.1 3.33 3.5
and incl. 77.1 78.2 1.1 1.13 0.8
and incl. 81 82.3 1.3 1.35 6.7
and incl. 99.5 103 3.5 1.17 3.92
And 132.6 133.7 1.1 1.11 1.3
And 138.8 140.2 1.4 1.29 1.2
HY17-052 Incl. 6.1 45.3 39.2 0.3 2.81
and incl. 33.5 38.1 4.6 1.32 6.3
and incl. 70.9 99.7 28.8 0.32 5.35
which incl. 91.8 95 3.3 1.07 3.74
HY17-053 0 31.4 31.4 0.27 2.93
and 47.5 56.2 8.8 0.94 3.22
which incl. 47.5 53.1 5.6 1.32 4.49
and 129.7 169.2 39.5 0.41 7.23
which incl. 131.2 154.5 14.4 0.78 7.76
incl. 133.6 134.6 1 3.05 30.8
HY17-054 48.5 75 26.5 0.45 1.66
incl. 56.3 58 1.7 1.13 2.5
162.3 198.5 36.24 1.3 2.54
incl. 178 195.8 17.75 1.7 3.19
and incl. 178 188 10 2.48 4.71
which incl. 178 180 2 5.52 3.4
These first results are strikingly similar to the 2016 drill holes Banyan collared in the Main Zone;
30.7 metres of 1.30g/t Au and 8.0 g/t Ag from 18.3 to 49.0 metres (drill hole HY -16-48); 27.1
metres of 1.02 g/t Au and 16 g/t Ag from 24.4 to 51.5 metres (drill hole HY -16-49); and 35.7
metres of 1.00 g/t Au and 2.5 g/t Ag from 76.0 to 111.6 metres (drill hole HY -16-10) (see
Company News Release Dated September 29, 2016) and speak to the consistency and
continuity of the near -surface, gold-silver resource*. Moreover, the robustness of the resource
model is evident with clear indications of the upper and lower limb to thi s sediment -hosted,
structurally controlled gold-silver deposit intersected in these first holes of the program.
The still progressing 2017 Hyland Gold exploration program consists of an approximately 4,000-
metre diamond drilling program focused on the Main Zone and Camp Zones in the Hyland North
portion of the Property. Diamond drilling will primarily focus on the Main Zone with a view toward
potential expansion of the existing inferred resource estimate of 396,468 ounces at 0.99 gram
per tonne gold equivalent prepared in accordance with National Instrument 43 -101*. Moreover,
trenches (632 metres) have been constructed across the Main Zone to bolster the evaluation of
this near-surface gold-silver deposit (316 samples).
Additionally, the Camp Zone will see trenches and drilling following up on the 2016 discovery in
trench CZ-16-01 which returned 96 metres grading 0.64 g /t Au from zero metres to 96 metres,
including 56 metres gradi ng 1.03 g/t Au from zero metres to 56 metres of a broad fault zone
consisting of predominantly gouge and brecciated clastic unit s of the Hyland formation (see
Company news release dated Nov. 3, 2016).
The Camp Zone is a new zone at the Hyland deposit which has been the focus of a recent
structural analysis aided by a 2016 Property -wide LiDAR survey and re-analysis of historic soil
geochemistry, geophysical surveys as well as limited trench and diamond drill initiatives.
In the Hyland South area, 2017 exploration has con tinued to build out the District-Scale
mineralization potential of the Property through reconnaissance to grid -level soils geochemical
surveys designed to target areas deemed high -priority targets based on historic ridge-and-spur
soils surveys, detailed stream -sediment watershed analysis and re -evaluation of a 1995
airborne magnetics and radiometric survey as well as integration of the 2016 LiDAR data. A
total of 1041 soil samples have been collected. Many of these areas of interest have never been
soil sampled and represent new mineralization targets on the growing Quartz Lake structural
corridor.
As of September 17 th, 3 ,320 m of drilling has been completed in 20 holes. Drilling related
exploration activities are expected to continue to the end of September.
Banyan Gold will be attending the 2017 Precious Metals Summit in Beaver Creek, Colorado
September 18-20, 2017.
*The Hyland Main Zone Inferred Gold Resource, prepared in accordance with NI 43-101, at a 0.6 g/t gold
equivalent ("AuEq") cutoff, contains 12,503,994 tonnes with 361,692 ounces gold at 0.9 g/t and 2,248,948
ounces silver at 5.59 g/t for a combined gold and silver 396,468 ounces gold equivalent at 0.99 g/t.
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
Analytical Method
All drill core samples collected from the Hyland Gold program were analyzed at Bureau Veritas
Minerals 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 gold on all samples. All core
samples were split on -site at Ba nyan’s core processing facilities at the Hyland Gold
Project. 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 delivered by Bany an personnel or a dedicated expe diter to the Bureau Veritas,
Whitehorse preparatory laboratory where samples are prepared and then shipped to Bureau
Veritas’s Analytical laboratory in Burnaby, B.C. for pulverization and final chemical analysis. A
robust system of standards was implemented in the 2017 exploration drilling program and are
monitored as chemical assay data become 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, contain s 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 a nd silver 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 mineralization 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
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