The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
2020 drilling shows growth potential, 2021 program tests it North of 60 Mining News – April 23, 2021
Banyan Gold has already completed more than 3,800 meters of a planned 15,000-meter phase one drill program primarily focused on expanding gold mineralization in the Powerline-Aurex Hill area of the AurMac project in the Yukon.
The 2020 drill program both expanded mineralization in the immediate Powerline deposit area and tapped similar gold grades at the Aurex Hill prospect about 1,200 meters east.
Banyan Gold Corp. April 21 said the final set of assay results from the 2020 drill program at its AurMac project in the Yukon continue to confirm the expansion potential of the near-surface Powerline gold deposit.
"All of these final 2020 step-out diamond drill holes to the east of the Powerline deposit intersected gold mineralization and have demonstrated gold mineralization remains open in all directions – a further validation of the expansion potential of the near-surface, sub-horizontal Powerline gold deposit," said Banyan Gold President and CEO Tara Christie.
A road-accessible gold exploration project about 40 kilometers (25 miles) south of Victoria Gold Corp.'s Eagle Mine, AurMac hosts 52.58 million metric tons of inferred resource averaging 0.54 grams per metric ton (903,945 oz) gold in the Airstrip and Powerline deposits.
Airstrip hosts 46 million metric tons of the inferred resource averaging 0.52 g/t (774,926 oz) gold and Powerline hosts 6.58 million metric tons of inferred resource averaging 0.61 g/t (129,019 oz) gold in the Powerline deposit, according to a calculation completed in July of last year.
In June, Banyan launched a 10,362-meter drill program focused on expanding this resource testing targets outside the resource areas.
Highlights from previously released results from the 2020 drilling at Powerline and Aurex Hill, which lies about 1,200 meters to the east include:
• 129.5 meters of 0.8 g/t gold in AX-20-42.
• 128.5 meters of 0.72 g/t gold in AX-20-43.
• 135 meters of 0.76 g/t gold in AX-20-44.
• 40 meters of 1.09 g/t gold in AX-20-47.
• 17.9 meters of 1.11 g/t gold in AX-20-57.
AX-20-57 and other holes drilled east of Powerline indicate that the deposit extends to Aurex Hill for a total gold mineralized area that extends roughly 2,500 meters.
The final set of results are from a north-south fence about 125 meters east of the Powerline resource. Highlights from these holes include:
• 186 meters of 0.48 g/t gold from surface in AX-20-59, including 41.7 meters of 1.39 g/t gold.
• 170.8 meters of 0.47 g/t gold from surface in AX-20-60.
• 19.1 meters of 1.09 g/t gold from 11.4 meters in AX-20-62.
• 122 meters of 0.77 g/t gold from 12 meters in AX-20-63.
• Seven meters of 6.81 g/t gold from a depth of 139.4 meters in AX-20-64, including 1.2 meters of 35.3 g/t gold
"Mineralization continues to be intersected immediately beneath overburden with drill holes AX-20-59 and AX-20-63 returning greater than 1 g/t gold from surface, over greater than 40 meters and 20 meters, respectively," said Christie. "Banyan is currently following up these Powerline results with the 2021 AurMac drill program which is focused on expansion of the near-surface Powerline deposit."
As of April 19, Banyan had completed more than 3,800 meters of drilling so far this year at the Powerline zone. The company's initial phase of 2021 drilling at AurMac is expected to include at least 15,000 meters of diamond drilling that will primarily target the Powerline and Aurex Hill zones.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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