Banyan taps Eagle-like gold at Powerline

Banyan Gold Corp. Sept. 3 reported that the first four holes from drilling the Powerline zone on the Aurex-McQuesten property tapped gold mineralization similar to that being encountered on Victoria Gold Corp.'s Dublin Gulch property, which is about 10 kilometers (six miles) to the north.

Banyan had two objectives for its 2019 exploration program at Aurex-McQuesten – continue to define and increase confidence within the McQuesten gold zone mineralization with infill drilling and test the Powerline zone about 1,000 meters south of the McQuesten zone, on the Aurex claim block.

The Powerline discovery holes cut high-grade gold sections within consistent long intercepts of bulk tonnage mineralization.

"The long intercepts from surface are similar to what we see at Victoria Gold's Eagle project," said Banyan Gold President and CEO Tara Christie.

Highlights from the four holes drilled at Powerline include:

• 109.7 meters of 0.36 grams per metric ton gold from a depth of 25.9 meters in AX-19-30, including 6.6 meters of 2.89 g/t gold from 25.9 meters;

• 85.8 meters of 0.48 g/t gold from a depth of 11.7 meters in AX-19-31, including 4.6 meters of 1.42 g/t gold from 30.5 meters; and

• 47.2 meters of 0.64 g/t gold from a depth of 44.2 meters in AX-19-33, including 4.42 meters of 1.24 g/t gold from 49.6 meters.

"The successful drill testing of this area now greatly increases the mineralized tonnage potential of the Aurex-McQuesten claim block," Christie said. "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."

This economic potential is bolstered by great infrastructure and the project's proximity to existing mines in the Yukon.

"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," Christie added.

The 2019 Aurex-McQuesten exploration program, 997 meters of drilling in eight holes – 504 meters at Powerline and 494 meters at McQuesten. Additionally, crews dug two surface trenches at McQuesten and collected 56 soil samples.

Results from the McQuesten holes and trenches are pending.

The 2019 program was partially supported by a Yukon Government Yukon Mineral Exploration Program grant.

–SHANE LASLEY