The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Step-out holes rapidly outlining much larger deposit at AurMac North of 60 Mining News – May 21, 2021
Visible gold in a 0.6-meters section of hole AX-21-75, drilled south of the Powerline resource, that averaged 17.9 g/t gold.
Banyan Gold Corp. May 18 reported assay results from five holes that are continuing to outline consistent zones of gold mineralization in expansion targets at the Powerline deposit on the AurMac project about 40 kilometers (25 miles) south of Victoria Gold Corp.'s Eagle Mine in the Yukon.
AurMac hosts 52.58 million metric tons of inferred resource averaging 0.54 grams per metric ton (903,945 oz) gold in two deposits – Powerline and Airstrip.
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.
Roughly 85% of this resource calculated in mid-2020 is hosted in Airstrip. Drilling carried out late last year and continuing into the 2021 program is significantly expanding the gold mineralization at Powerline.
The latest batch of results is from five of the systematic 100-meter-spaced step-out holes at Powerline. Highlights from these holes drilled south of Powerline include:
• 81.2 meters averaging 0.55 g/t gold from a depth of 86.5 meters in hole AX-21-73.
• 56.6 meters averaging 0.73 g/t gold from 38.1 meters in AX-21-75.
• 129.3 meters averaging 0.37 g/t gold from surface in AX-21-77.
"Gold mineralization encountered to date is remarkably consistent, and these latest holes, combined with previous results, served to greatly expand the Powerline Deposit to the south," said Banyan Gold President and CEO Tara Christie.
Highlights from the previously reported systematic Powerline step-out holes include:
• 54.6 meters averaging 0.88 g/t gold from 80 meters in AX-21-66.
• 177.9 meters averaging 0.38 g/t gold from surface in AX-21-67.
• 67.5 meters averaging 0.56 g/t gold from 60.5 meters in AX-21-68.
• 46.6 meters averaging 0.75 g/t gold from 52.5 meters in AX-21-70.
• 51.9 meters averaging 0.55 g/t gold from 115.8 meters in AX-21-71.
In addition to expanding the immediate Powerline resource area, a series of holes drilled last year indicates that the gold mineralization extends to Aurex Hill, a target area about 1,200 meters to the east.
Hole AX-20-57, which was drilled at Aurex Hill last year, cut 17.9 meters averaging 1.11 g/t gold.
"Drilling at the Aurex Hill Zone, the next high-priority target on the large 173-square-kilometer (67.8 square miles) Aurmac property, is planned to commence in the next few weeks," said Christie. "Banyan is excited to apply the successful AurMac mineralization model to yet another target on this rapidly developing project."
As of May 16, Banyan has completed 7,200 meters of drilling in 34 holes east and south of Powerline. The balance of the initial phase of 2021 drilling at AurMac will include step-out holes west and southwest of the resource and systematic drilling at Aurex Hill about 1,200 meters to the east.
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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