Banyan begins 2023 with Aurex Hill assays

Banyan Gold Corp. Jan. 10 announced the results from the next 37 diamond drill holes received from the company's 2022 exploration program at the Powerline and Aurex Hill deposits at its AurMac property in Yukon, Canada.

Located approximately 56 kilometers (35 miles) northeast of the village of Mayo and 356 kilometers (221 miles) north of Whitehorse, Banyan Gold's flagship property lies within the similarly named Mayo Mining District.

Consisting of the Aurex and McQuesten projects optioned from neighbor Victoria Gold Corp. and Hecla Mining Company, respectively, in addition to claims staked by Banyan itself, the property covers over 17,300 hectares (42,750 acres) of highly prospective land.

AurMac is home to three deposits – Airstrip, Powerline, and Aurex Hill – that host a combined 4 million ounces of gold.

According to a resource estimate calculated in May of last year, Airstrip hosts 42.5 million metric tons of pit-constrained inferred resource averaging 0.64 grams per metric ton (874,000 ounces) gold; Powerline hosts 152 million metric tons of pit-constrained inferred resource averaging 0.59 g/t (2.9 million oz) gold; and Aurex Hill hosts 12.5 million metric tons of pit-constrained inferred resource averaging 0.53 g/t (215,000 oz) gold.

Banyan significantly expanded the gold mineralized footprint of both Powerline and Aurex Hill in 2022, and without missing its stride, the company has begun the new year with additional assay results from its systematic resource expansion drilling.

"2022 drill results continue to expand the extent of near/on-surface gold mineralization at the Powerline and Aurex Hill deposits," said Banyan Gold President and CEO Tara Christie. "Both deposits remain open and these most recent results received have demonstrated two notable mineralized trends in Aurex Hill."

Remaining consistent from previous drill results at Powerline and Aurex Hill, the areal extent of the interpreted gold mineralization continues to be confirmed and expanded with each batch of assay results received, including the latest 37 holes.

Highlights from this most recent batch include:

• 62.2 meters averaging 0.59 g/t gold from a depth of 269.5 meters in hole DDH AX-22-306.

• 32.5 meters averaging 0.69 g/t gold from 52.4 meters in DDH AX-22-312.

• 45.5 meters averaging 0.57 g/t gold from 115.8 meters in DDH AX-22-321.

• 47.7 meters averaging 0.7 g/t gold from 47.7 meters in DDH AX-22-323.

• 46.9 meters averaging 0.65 g/t gold from 149.4 meters in DDH AX-22-333.

• 66.5 meters averaging 0.36 g/t gold from surface (4.6 meters) in DDH AX-22-341.

• 34.8 meters averaging 1.02 g/t gold from 153.9 meters in DDH AX-346.

• 42.9 meters averaging 0.8 g/t gold from 100 meters in DDH AX-22-354.

• 63.8 meters averaging 0.69 g/t gold from 160.2 meters in DDH AX-22-357.

• 55.5 meters averaging 0.45 g/t gold from 121.9 meters in DDH AX-22-358.

• 144.8 meters averaging 0.3 g/t gold from 12.2 meters in DDH AX-22-360.

• 143.2 meters averaging 0.31 g/t gold from 18.3 meters in DDH AX-22-362.

Having started its 2022 exploration program at the end of January, Banyan packed up camp in early December, but not before completing more than 50,000 meters of drilling in 211 drill holes designed to expand the mineralization around the Powerline and Aurex Hill deposits.

As for this year, Banyan states that its exploration and development plans are being drawn up by the company's technical and management team. However, the company already has plans for a 25,000-meter phase-one drill program at Aurmac that is slated to get underway in March.

The 2023 program will be aided by an on-site preparatory lab, which Banyan hopes will reduce assay times and help it to target and refine drilling during the season. In addition to drilling, the 2023 program at Aurmac is expected to include expanded metallurgical, geotechnical, and baseline environmental programs that would support future engineering studies and permitting for this growing gold project in the Yukon.