VANCOUVER, BC / ACCESS Newswire / March 27, 2025 / Banyan Gold Corp . (the "Company" or "Banyan") (TSXV:BYN)(OTCQB:BYAGF) is pleased to announce the mobilization of personnel and drills to start the 2025 diamond drilling and exploration program at its AurMac Project ("AurMac" or the "Project") in the Tombstone Gold Belt, Yukon. The 30,000 metre ("m") campaign will focus on:
Further expansion and definition of mineralized zones in Airstrip and Powerline, with both deposits remaining open in all directions;
Testing proximal and distal targets identified through soil anomalies and geophysical surveys; and,
Defining areas of higher grade, particularly near surface (<100m).
A focus of the 2025 strategic drill program will be to follow up on high-grade intersections from 2024. Multiple holes in the Airstrip deposit intersected high-grade, near-surface gold mineralization with assays such as 15.9 m of 9.32 g/t gold, including 3.7 m of 33.43 g/t gold and 13.8 m of 3.81 g/t gold . Drilling from 2024 at the Powerline deposit resulted in 16 drillholes with intersection greater than 50 gram-metres, including AX-24-540 which intersected 23.1 m of 5.68 g/t gold from 159.3 m, including 0.2 m of 539.3 g/t gold (see news release dated March 3, 2025). Additionally, new regional diamond drill targets have been identified at AurMac and will be tested through the coming spring and summer programs.
"We are excited to be back in the field for a spring start and to follow-up on the success from 2024," stated Duncan McKay, Vice President Exploration. "Last year's program set the foundation for our 2025 drill campaign with the potential to further delineate relatively high-grade mineralized domains in Airstrip and Powerline. Both deposits have promising targets for expansion and are open in all directions. Geophysical surveys combined with soil sample anomalies provide opportunities for additional drill discoveries on our largely untested land package."
2025 EXPLORATION PLANS
Drilling:
Of the 30,000m drilling planned for 2025, approximately 3/4 will be allocated to advance the understanding of mineralized domains in Airstrip and Powerline. At Airstrip, which hosts a 845,000 oz inferred resource (1) , drilling aims to further delineate the near-surface, high-grade zone (>2 g/t gold) felsic dyke contact zone identified in 2024 drilling, while testing for potential extensions along strike and at depth (Figure 1; see news release dated March 3, 2025). At Powerline, which hosts a 6,158,000 oz inferred Resource (1) , drilling has the potential to delineate relatively high-grade (>1g/t gold) mineralized domains.. Diamond drilling will also test potential for expansion of the known mineralized system at both Airstrip and Powerline.
(1) See Table 1 below
Figure 1: Potential for Mineral Resource Growth
Regional targets have also been identified using new geophysical surveys from 2024 in combination with soil sampling anomalies. Approximately 1/4 of the 30,000m program will be testing potential at these high priority targets with a small percentage (up to 5%) of holes being allocated to condemnation holes for potential infrastructure locations.
Drilling will be complemented by surface sampling, ongoing metallurgical work and environmental surveys, along with scoping studies required for a preliminary economic assessment of the project in Q4-2025.
Upcoming Events
Follow The Money X-Space LIVE, April 2, 2025 - 8 AM Pacific/11 AM Eastern
The Rule Symposium, Boca Raton, July 7-11, 2025
Invest Yukon Property Tours, July 13-15, 2025
Analytical Method and Quality Assurance/Quality Control Measures
All drill core splits reported in this news release were analysed by Bureau Veritas of Vancouver, B.C., utilizing the aqua regia digestion ICP-MS 36-element AQ-200 analytical package with FA-450 50-gram Fire Assay with AAS finish for gold on all samples. All core samples were split on-site at Banyan's core processing facilities. Once split, half samples were placed back in the core boxes with the other half of split samples sealed in poly bags with one part of a three-part sample tag inserted within. Samples were delivered by Banyan personnel or a dedicated expediter to the Bureau Veritas, Whitehorse preparatory laboratory where samples are prepared and then shipped to Bureau Veritas's Analytical laboratory in Vancouver, B.C., for pulverization and final chemical analysis. A robust system of standards, ½ core duplicates and blanks was implemented in the 2024 exploration drilling program and was monitored as chemical assay data became available.
Qualified Persons
Duncan Mackay, P.Geo., is a "qualified person" as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects ( "NI 43-10"), and has reviewed and approved the content of this news release. Mr. Mackay is an employee of Banyan and has verified the data disclosed in this news release, including the sampling, analytical and test data underlying the information.
About Banyan
Banyan's primary asset, the AurMac Project is located in Canada's Yukon Territory. The current inferred Mineral Resource Estimate ("MRE") for the AurMac Project of 7.0 million ounces has an effective date of February 6, 2024.
The 173 square kilometres ("sq km") AurMac Project lies 40 km from Mayo, Yukon. The AurMac Project is transected by the main Yukon highway and benefits from a 3-phase powerline, existing power station and cell phone coverage. Banyan has the right to earn up to a 100% interest, in both the Aurex and McQuesten Properties respectively, subject to certain royalties.
The inferred MRE for the AurMac Project was prepared on February 6, 2024, and consisted of 7,003,000 ounces of gold (see Table 1) hosted within near surface, road accessible pit constrained Mineral Resources contained in two near/on-surface deposits: the Airstrip and Powerline Deposits.
Table 1: Pit-Constrained Inferred Mineral Resources - AurMac Project
Deposit
Gold Cut-Off (g/t)
Tonnage (Tonnes)
Average Gold Grade (g/t)
Contained Gold (oz.)
Inferred
Airstrip
0.30
35,243,000
0.75
845,000
Powerline
0.30
312,243,000
0.61
6,158,000
Total Combined
0.30
347,486,00
0.63
7,003,000
Notes :
The effective date for the MRE is February 6, 2024, and was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., an independent Qualified Person in accordance with the requirements of NI43-101. The technical report supporting the Resource Estimate entitled "AurMac Property, Mayo Mining District, Yukon Territory, Canada" (the "Technical Report") has been filed on SEDAR at www.sedarplus.ca on March 18, 2024.
Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, changes in global gold markets or other relevant issues.
The CIM Definition Standards were followed for classification of Mineral Resources. The quantity and grade of reported Inferred Mineral Resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred Mineral Resources as an Indicated Mineral Resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured Mineral Resource category.
Mineral Resources are reported at a cut-off grade of 0.30 g/t gold for all deposits, using a US$/CAN$ exchange rate of 0.75 and constrained within an open pit shell optimized with the Lerchs-Grossman algorithm to constrain the Mineral Resources with the following estimated parameters: gold price of US$1,800/ounce, US$2.50/t mining cost, US$5.50/t processing cost, US$2.00/t G+A, 80% gold recoveries, and 45° pit slopes.
The number of tonnes and ounces was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations as per NI 43-101.
In addition to the AurMac Project, the Company holds the Hyland Gold Project, located 70 km Northeast of Watson Lake, Yukon, along the Southeast end of the Tintina Gold Belt (the "Hyland Project"). The Hyland Project represents a sediment hosted, structurally controlled, intrusion related gold deposit, within a large land package (over 125 sq km), accessible by a network of existing gravel access roads.
Banyan trades on the TSX-Venture Exchange under the symbol "BYN" and is quoted on the OTCQB Venture Market under the symbol "BYAGF". For more information, please visit the corporate website at or contact the Company.
ON BEHALF OF BANYAN GOLD CORPORATION
(signed) "Tara Christie" Tara Christie President & CEO
CAUTIONARY STATEMENT: Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) nor OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
FORWARD LOOKING INFORMATION: This news release contains forward-looking information, which is not comprised of historical facts and is based upon the Company's current internal expectations, estimates, projections, assumptions and beliefs. Such information can generally be identified by the use of forwarding-looking wording such as "may", "will", "expect", "estimate", "anticipate", "intend(s)", "believe", "potential" and "continue" or the negative thereof or similar variations. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's plans for exploration; and statements regarding exploration expectations, ease and confidence in increasing ounces, exploration or development plans and timelines; mineral resource estimates; mineral recoveries and anticipated mining costs. Factors that could cause actual results to differ materially from such forward-looking information include uncertainties inherent in resource estimates, continuity and extent of mineralization, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, and the other risks involved in the mineral exploration and development industry, enhanced risks inherent to conducting business in any jurisdiction, timing and risk of earning the final 25% earn-in on the properties and those risks set out in Banyan's public documents filed on SEDAR. Although Banyan believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Banyan disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
