Banyan reports consistent Powerline gold

Banyan Gold Corp. Sept. 6 announced the latest results from 13 holes that confirm consistency of gold mineralization within the southern portion of the Powerline deposit on the company's AurMac property in Yukon, Canada.

Located about 40 kilometers (25 miles) south of Victoria Gold Corp.'s Eagle Gold Mine and adjacent to Hecla Mining Company's Keno Hill Silver District, the Aurex and McQuesten properties, or AurMac, is comprised of three deposits – Powerline, Airstrip, and Aurex Hill.

According to the most recent calculation, Airstrip hosts 41.2 million metric tons of pit-constrained inferred resource averaging 0.68 grams per metric ton (897,000 oz) gold; Powerline hosts 197.4 million metric tons of pit-constrained inferred resource averaging 0.61 g/t (3.84 million oz) gold; and Aurex Hill hosts 74.3 million metric tons of pit-constrained inferred resource averaging 0.6 g/t (1.45 million oz) gold.

Kicking off its program at the beginning of March, which planned for roughly 25,000 meters with three rigs, it focused about 80% of its exploration drilling on Powerline and Aurex Hill and the remaining 20% on new targets. So far, the company has completed nearly all the targeted drilling for the year – over 24,500 meters in 107 drill holes.

The latest batch of assay results is from 13 holes drilled in the southern portion of the Powerline deposit that had only been tested to a depth of 100 meters. Highlights from holes drilled this year to an average depth of 235 meters in this area include:

• 39.9 meters averaging 0.60 grams per metric ton gold from a depth of 61.5 meters in hole AX-23-455.

• 34.2 meters averaging 0.95 g/t gold from 33.5 meters in AX-23-458.

• 16.1 meters averaging 1.66 g/t gold from 85.8 meters in AX-23-458.

• 37.4 meters averaging 0.65 g/t gold from 165.7 meters in AX-23-460.

• 90.3 meters averaging 0.52 g/t gold from 10 meters in AX-23-461.

• 59.4 meters averaging 0.53 g/t gold from 72.1 meters in AX-23-466.

• 73.7 meters averaging 0.48 g/t gold from 90.1 meters in AX-23-467.

"These results confirm the consistency and tenor of the widespread on and near-surface gold mineralization of the Powerline Deposit, and importantly, have extended the zone of mineralization to depth," said Banyan Gold President and CEO Tara Christie. "Not only will these assays serve to add gold ounces to the growing AurMac Project, but also successfully demonstrate the ease with which the confidence of AurMac ounces can be increased."

Much like many other mining operations in northern Canada, processing and logging of core on site was delayed by various factors, including nearby forest fires and closed highway access. Despite this, Banyan says that drill core processing will wrap up on site this week with all samples shipped to the lab.