The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Drilling increases gold deposit footprint by more than 650% North of 60 Mining News – September 10, 2021
Banyan Gold Corp. Sept. 8 announced the results of the final 15 holes for the 2021 phase 1 drill program at the Powerline deposit at its AurMac property in Canada's Yukon, increasing the area of known gold mineralization by more than 650%.
"Results continue to demonstrate growth potential of the Powerline deposit, with continuity of near-surface gold distributed in mineralized horizons concordant with the sub-horizontal mineralization model," said Banyan Gold President and CEO Tara Christie.
The drilling at Powerline to date consists of 95 diamond drill holes totaling 18,738 meters, including 15 drill holes from May 2020 totaling 2,269 meters.
Gold mineralization is interpreted to be associated with swaths of quartz veins dipping shallowly to the north, and within pyrrhotitic horizons with a dip to the south. The combination of the two controls of gold mineralization equate to sub-horizontal mineralization envelopes at the current drill hole spacing.
"Banyan is well-positioned to continue to rapidly advance our AurMac project with our recent financing which will enable us to ramp up to three drills and plan to complete a total of 30,000 meters drilling in 2021," added Christie. "Projects with the potential to host three to five million ounces, that are near-surface adjacent to an existing highway, communications and power infrastructure are extremely rare and will be in demand."
Assay highlights from this latest series of drilling including:
• 144.8 meters of 0.74 grams per metric ton gold from a depth of 7.6 meters in hole DDH AX-21-101, including 47.5 meters of 1.43 g/t gold.
• 60.9 meters of 0.41 g/t gold from a depth of 10.7 meters in hole DDH AX-21-103.
• 89.6 meters of 0.50 g/t gold from a depth of 6.4 meters in hole DDH AX-21-111.
• 78.1 meters of 0.43 g/t gold from a depth of 129.5 meters in hole DDH AX-21-112.
• 28.2 meters of 1.28 g/t gold from a depth of 8.8 meters in hole DDH AX-21-113.
Phase 1 included drilling at both the Powerline and Aurex Hill targets, with Powerline targeting 50 holes totaling 10,476 meters in a systematic, 100-meter centered, drill grid designed to test the expansion potential of the deposit.
Drilling at Aurex Hill included 18 diamond drill holes totaling 4,386 meters. Assay results are still pending from these 18 holes at Aurex Hill and from the ongoing phase 2 drilling at Powerline.
The second phase of drilling is designed to continue to expand the limits of the Powerline deposit and is planned to continue until December. Drilling for 2022 is expected to resume in February.
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