Banyan properties in the Yukon Credit: Banyan
YUKON – Banyan Gold has released a maiden resource estimate for the 92.3-sq.-km AurMac property (previously Aurex-McQuesten) within the Mayo mining district.
The pit-constrained inferred resource is made up of the Airstrip and Powerline deposits and totals 52.6 million tonnes at 0.54 g/t gold for a total of 903,945 oz. Airstrip is the larger of the two, contributing 46 million tonnes at 0.52 g/t gold to this inventory.
“We are excited with the value this initial mineral resource estimate generates for our shareholders, particularly given the modest exploration expenditures by Banyan, generating ounces at less than two dollars per ounce,” Tara Christie, Banyan’s president and CEO, said in a release. “Both deposits are open, with mineralization known to extend beyond the current block model boundaries.”
Christie added that the mineral resource model for Airstrip appears particularly robust: as the cut-off grade is increased to 0.3 g/t gold, from the baseline 0.2 g/t, the grade increases to 0.65 g/t gold with an ounce reduction of under 15%. Banyan has identified additional drill targets at the property.
The Airstrip and Powerline deposits are within 1 km of each other and nearby year-round access roads.
The company has a right to earn up to a 100% interest in AurMac, based on earn-in option agreements with Victoria Gold and Alexco. AurMac is 40 km from Victoria’s Eagle gold mine and 10 km from Alexco’s mill facility within the Keno Hill silver district.
Banyan is currently planning its 2020 exploration work for AurMac, which is expected to start in June.
In addition to AurMac, Banyan holds the 186 sq.-km-Hyland Gold project with indicated resources of 8.6 million tonnes at 0.85 g/t gold for a total of 236,000 oz. and inferred resources of 10.8 million tonnes grading 0.83 g/t gold for a total of 288,000 oz.
For more information, visit www.BanyanGold.com.