The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Show promise for expansion of deposit on Banyan’s AurMac North of 60 Mining News – June 25, 2021
Visible gold from hole AX-21-91, which cut 1.5 meters averaging 7.8 g/t from a depth of 95.7 meters.
Banyan Gold Corp. June 21 reported that assay results from an additional five holes drilled this year at its AurMac property in the Yukon have identified particularly strong gold mineralization to the east of the company's Powerline deposit.
Located about 40 kilometers (25 miles) south of Victoria Gold Corp.'s Eagle Gold Mine, 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 category averaging 0.52 g/t (774,926 oz) gold and Powerline hosts 6.58 million metric tons of the same category averaging 0.61 g/t (129,019 oz) gold, according to a calculation completed in July of last year.
While Powerline is currently the smaller of the two AurMac deposits outlined so far, assays rolling in from the 50 holes drilled there this year have tapped remarkably consistent gold mineralization to the south and east of the Powerline resource area.
"Banyan continues to execute a successful exploration season, which began in February 2021, after drilling into December 2020," said Banyan Gold President and CEO Tara Christie. "The planned phase 1 diamond drilling at the Powerline deposit comprised 10,476 meters from 50 holes; this robust program confirmed Banyan's Powerline geologic model and greatly expanded the mineralized footprint outside of the original bounds of the 2020 deposit."
The latest batch of assay results is from the systematic testing of the Powerline deposit with 100-meter centered step-out holes that continue to validate the geological model and expand the limits of known near-surface gold mineralization.
Assay highlights from this set of five holes drilled at the Powerline zone include:
• 0.85 g/t gold over 12.2 meters from surface in hole AX-21-87.
• 0.47 g/t gold over 26.4 meters from 25.9 meters in hole AX-21-91.
• 0.70 g/t gold over 50.3 meters from 85.1 meters in hole AX-21-91.
"This latest set of results, carry on with the identification of a remarkably consistent gold mineralization at Powerline and demonstrate the Powerline deposit, open in all directions, shows particular strength to the east," added Christie. "Additional step-out drill fence lines will be a prime focus for the next phase of drilling at Powerline."
With the initial phase of 2021 drilling now complete at Powerline, Banyan has moved two diamond drill rigs to the Aurex Hill target to the east, where more than 1,000 meters of drilling in four holes has been completed so far.
Assays are pending from 26 of the 50 holes completed during the phase 1 of 2021 drilling at Powerline.
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