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Banyan Drilling Confirms High Grade Structural Controls and Grade Continuity at Powerline, AurMac Project

04.11.2024 | Accesswire

Banyan Drilling Confirms High Grade Structural Controls and Grade Continuity at Powerline, AurMac Project

VANCOUVER, November 4, 2024 - Banyan Gold Corp. (the "Company" or "Banyan") (TSX-V:BYN)(OTCQB:BYAGF) is pleased to announce the latest analytical results from nineteen (19) diamond drillholes within the Powerline Deposit located on the Company's AurMac Project, Yukon Territory ("AurMac"). This set of holes was drilled in the north-central portion of the Powerline Deposit (See Figure 1) as part of the ongoing definition drilling program to increase confidence of the Resource model.

Highlights from these assay results:

AX-24-534: 48.0 metres ("m") of 0.53 g/t Au from 75.1 m
AX-24-536: 75.1 m of 0.29 g/t Au from near-surface (23.9 m)
AX-24-538: 21.5 m of 1.06 g/t Au from near-surface 71.9 m
AX-24-540: 0.2 m of 539.30 g/t Au from 166.1 m
- And 56.7 m of 0.36 g/t Au from 166.3 m
AX-24-541: 90.0m of 0.68 g/t Au from surface (13.5 m)
AX-24-542: 154.1m of 0.58 g/t Au from surface (18.3 m)
AX-24-544: 0.3 m of 290.10 g/t Au from 37.1 m
AX-24-545: 78.6 m of 0.41 g/t Au from 74.9 m
AX-24-548: 79.6 m of 0.56 g/t Au from near-surface (26.5 m)
AX-24-549: 37.5 m of 0.81 g/t Au from near-surface (44.5 m)

"The 2024 definition drilling program at AurMac, has intersected multiple instances of high-grade gold veins, exceeding 11.00 g/t Au¹and up to 539.00 g/t. These East-West oriented vein sets align with the direction of continuity of the structurally controlled Powerline gold mineralization. The increased drill density realized through this year's work will improve the interpretation of the quantity, distribution and thickness, of these high-grade gold veins and their significance within the framework of the Powerline Gold mineralization, which is in turn expected to result in refinements to the primary structural controls of the deposit," stated Tara Christie, President and CEO. "The successful 2024 AurMac exploration program, combined with record high gold prices, have strategically positioned Banyan for a Resource update, Preliminary Economic Assessment ("PEA"); and, importantly, has provided clear exploration and definition drill targets for 2025."

¹Banyan considers any assayed interval above the maximum Mineral Resource Estimate ("MRE") capping threshold of 11.00 g/t Au to be High Grade. (News Release: Feb 6, 2024, see About Banyan below)

Highlighted results of drillhole assays from this release are presented in Table 1, collar locations in Table 2 and Figure 1 identifies the drillhole locations.

The Powerline Deposit is contained within a metasedimentary package consisting of predominately schists, quartzites and limestones of the Late Proterozoic to Cambrian Hyland Group. Gold mineralization here is chiefly associated with low angle quartz-sulfosalt-arsenopyrite veins seen crosscutting all lithologies and is interpreted to be associated with a large intrusion related gold system typical of the Tombstone Gold Belt and Selwyn Basin gold deposits.

Highlighted instances of visible gold identified from Banyan's detailed logging of these drill holes are shown in Image 1.

Image 1: Photographs of visible gold from holes in this release:

Figure 1:AurMac drill hole locations, showing the location of historic and Banyan completed diamond drill holes used in the MRE (grey, black and blue dots) and collar locations of 2024 drilling (red, green and yellow dots; respectively).

Table 1: Highlighted Powerline Analytical Results.

Hole ID	From (m)	To (m)	Interval (m*)	Au (g/t)
AX-24-531	21.5	50.5	29.0	0.49
and	94.5	158.1	63.6	0.39

AX-24-532	20.0	53.0	33.0	0.44
and	94.5	112.0	17.5	0.55
and	119.5	142.5	23.0	0.33

AX-24-533	13.3	100.0	86.7	0.40

AX-24-534	55.1	62.5	7.4	0.32
and	75.1	123.1	48.0	0.53
and	167.9	169.2	1.3	1.06


AX-24-535	22.0	31.5	9.5	0.28
and	51.5	94.0	42.5	0.37
and	103.8	115.0	11.2	0.46

AX-24-536	23.9	99.0	75.1	0.29

AX-24-537	85.1	122.5	37.4	0.33
and	155.5	170.8	15.3	0.30
and	215.3	229.0	13.7	0.81

AX-24-538	9.1	30.6	21.4	0.60
and	71.9	93.4	21.5	1.06

AX-24-539	15.0	42.5	27.5	0.34
and	51.0	77.5	26.5	0.26
and	89.5	112.0	22.5	0.22
and	117.0	124.0	7.0	0.23

AX-24-540	29.0	50.3	21.3	0.31
and	69.2	98.4	29.2	0.31
and	107.8	112.5	4.7	0.54
and	135.6	151.4	15.8	0.45
and	159.3	182.4	23.1	5.68
including	166.1	166.3	0.2	539.30
and	191.9	223.0	31.1	0.32

AX-24-541	13.5	103.5	90.0	0.68
or	13.5	22.0	8.5	0.65
and	40.0	41.5	1.5	1.23
and	56.0	75.9	19.9	0.39
and	84.5	103.5	19.0	2.20

AX-24-542	18.3	172.4	154.1	0.58
or	18.3	39.6	21.3	1.31
and	62.5	69.4	6.9	0.60
and	85.3	117.9	32.6	1.23
and	144.5	172.4	27.9	0.39

AX-24-543	91.5	94.0	2.5	0.46
and	127.3	128.0	0.7	2.62
and	163.0	166.0	3.0	0.74

AX-24-544	34.8	38.5	3.7	20.19
including	37.1	37.4	0.3	290.10
and	77.0	86.0	9.0	0.67
and	107.8	123.6	15.8	1.10
and	146.2	176.5	30.3	0.37
and	199.4	199.8	0.4	9.10

AX-24-545	35.0	41.2	6.2	0.41
and	74.9	153.5	78.6	0.41

AX-24-546	36.8	65.4	28.6	0.38

AX-24-547	38.7	83.5	44.8	0.25

AX-24-548	26.5	106.1	79.6	0.56
and	160.8	170.9	10.1	0.60
and	185.5	219.2	33.7	0.55

AX-24-549	44.5	82.0	37.5	0.81

*True widths are estimated to be approximately 90% of drilled intervals.

Table 2: Drill Collar Location for Released Results

Collar ID	East NAD83_Z8	North NAD83_Z8	Elev. (m)	Azimuth	Dip (°)	Depth (m)
AX-24-531	467651	7082953	803	357	-57	181.4
AX-24-532	467751	7082952	809	357	-58	193.6
AX-24-533	467752	7083047	803	001	-59	168.3
AX-24-534	466750	7083048	772	003	-59	199.6
AX-24-535	467651	7083039	800	357	-57	135.6
AX-24-536	467649	7083151	798	357	-58	100.6
AX-24-537	466657	7083050	766	356	-58	231.7
AX-24-538	467752	7083152	801	002	-58	96.1
AX-24-539	467862	7083050	812	360	-57	152.4
AX-24-540	466654	7083153	770	355	-60	231.7
AX-24-541	467947	7083054	816	003	-56	121.6
AX-24-542	466746	7083152	776	003	-60	201.2
AX-24-543	465552	7084255	685	004	-58	214.9
AX-24-544	466554	7083056	759	359	-63	225.6
AX-24-545	466453	7083153	745	003	-63	172.9
AX-24-546	468057	7083055	822	359	-59	126.5
AX-24-547	468156	7083056	828	360	-54	89.9
AX-24-548	466556	7083152	759	353	-61	230.1
AX-24-549	468253	7083053	833	002	-55	99.1

Upcoming Events

Precious Metals Forum Zurich - November 11 to 12
Corporate Presentation - November 11, 10:45 AM CET
Yukon Geoscience Forum - November 17 to 20
Corporate Presentation - November 17, 1:00 PM PST
New Orleans Investment Conference - November 20 to 23
- Corporate Update and Breakfast - November 21, 7:15 AM CST

2024 Exploration Update

Banyan initiated its 2024 exploration program on June 1, 2024, and over the course of this season one hundred and eighteen (118) drillholes and over 21,000 m of drilling has been completed within the Powerline and Airstrip deposits. Drilling was completed in mid-October and core continues to be logged and processed with this expected to be completed by mid-November.

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

Paul D. Gray, P.Geo., is a "qualified person" as ‎defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101"), and has reviewed and approved the content of this news release.‎ Mr. Gray is a consultant to 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 Mineral Resource Estimate "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 3: Pit-Constrained Inferred Mineral Resources - AurMac Property

SOURCE: Banyan Gold Corp.

View the original press release on accesswire.com

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