Banyan Gold Corp.
Banyan's primary asset, AurMac, is adjacent to Victoria Gold Corp.'s new Eagle gold mine in Canada's Yukon, which announced commercial production on July 1, 2020. The AurMac initial resource of 903,945 ounces Au was announced in May, 2020. Banyan's major strategic shareholders include Osisko Gold Royalties, Sprott Funds, Alexco Resource Corp. and Victoria Gold. Banyan is focused on gold exploration projects that have the geological potential, size of land package and proximity to infrastructure that are advantageous for a mineral project to have potential to become a mine. Its Yukon-based projects both fit this model and its objective is to gain shareholder value by advancing projects in its pipeline.
(1) AurMac Gold Project, Yukon
The Aurex and McQuesten properties (together, the “AurMac Property”)located in the prolific Mayo Mining district, approximately 56 kilometres northeast from the village of Mayo, Yukon and 356 kilometres north of Whitehorse, Yukon. The AurMac Property, in close proximity to Victoria Gold's Eagle Project and Alexco Resource's Keno Hill Silver District. The District, is highly prospective for structurally controlled, intrusion related gold-silver mineralization.
May 2020 AurMac initial NI 43-101 Inferred Pit Constrained Resource: 903,945 ounces of gold grading 0.535 g/t Au at a 0.2 g/t Au cutoff. This pit constrained Mineral Resource is contained in two near/on-surface deposits: The Airstrip and Powerline deposits.
(2) Hyland Gold Project, Yukon
The 100% owned Hyland Gold Project is located in the Watson Lake Mining District in southeast Yukon, approximately 70 kilometres northeast of Watson Lake, along the southeast end of the Tintina Gold Belt. The Project covers over 186 sq. km in area that is currently accessible by vehicles on a winter road from Watson Lake. The Hyland Gold project is interpreted as sediment-hosted, structurally-controlled, Carlin-style gold mineralization. The Hyland Gold project consists of the Main Zone, Camp Zone, Cuz Zone, and Montrose Ridge Zone that extends over 11 kilometres.
The Hyland Gold Project has a 2018 NI 43-101 Indicated Mineral Resource of 8.6 million tonnes grading 0.85 g/t gold equivalent (AuEq) for 236,000 AuEq ounces with an Inferred Mineral Resource of 10.8 million tonnes grading 0.83 g/t AuEq for 288,000 AuEq ounces at a 0.3 g/t AuEq cut-off. This resource is located in its entirety on the Main Zone, is open in all directions and at depth, and has the potential to host a multi-million ounce deposit.
Tara Christie, M.Sc., P.Eng., President & Chief Executive Officer, Director
Director: Constantine Metals, Klondike Gold & Western Copper and Gold
Former board member of YESAB (Yukon’s environmental assessment board) and industry associations PDAC, KPMA, AMEBC
Over 20 years mining, exploration, permitting, community relations, working with First Nations, field exploration and operational experience (N. Canada, Ont., Africa)
Experience as CEO of successful private mining and exploration Co.
Paul Gray, P.Geo., Vice President of Exploration
Geologist: Victoria Gold Corp.
Bluerock Resources, Dawson Gold Corp., and others.
Over 25 years mineral exploration experience
David Rutt, CMA, CPA, Chief Financial Officer & Corporate Secretary
Over 27 years financial industry experience
Landis Energy Corp., Alton Natural Gas LP, Winslow Gold Corp., Greyhound Canada, Nortel Networks
James Thom, M.Sc., Senior Geologist & Field Manager
Geologist with extensive field, project management and geochemical experience in Yukon, BC, Mexico, Peru and Dominican
Mark Aryanto, Chairman
Mining Executive: Victoria Gold, StrataGold
Over 20 years project development experience
Steve Burleton, MBA, CFA, Director
David Reid, LL.B, Director
Sean Harvey, MBA, LL.B
Rob Carne, P.Geo.
Please refer to Banyan's website www.banyangold.com for complete biographies.
On December 9, 2020, Banyan Gold Corp. announced that it has issued shares to Alexco Resource Corp. (400,000 shares) and Victoria Gold Corp. (750,000 shares). With these issuances, the Company has now completed the expenditures and share issuance to earn 51% of both the underlying McQuesten and Aurex properties, which form the core of the AurMac property.
On November 16, 2020, Banyan Gold Corp. has released diamond drilling analytical results from the first five diamond drill holes received from the 2020 exploration program at the Powerline zone, AurMac property, Yukon. These holes successfully demonstrate the Powerline mineralization model applies beyond the 2020 Powerline resource extent and, importantly, the expansion potential of Powerline in all directions and at depth.
Diamond drilling activities continue at AurMa. 2020 drilling at AurMac has thus far achieved over 8,900 metres of drilling from 45 drill holes.
On September 21, 2020, Banyan Gold Corp. has released additional diamond drilling results received from the 2020 exploration program at the Airstrip zone, AurMac property, Yukon. These results demonstrate the continuity of gold grade in the projected mineralized zone of the Airstrip deposit, on strike and downdip.