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Banyan Announces 4 Million Ounce Gold Mineral Resource Estimate for the Aurmac Property, Yukon, Canada
VANCOUVER, BC / ACCESSWIRE / May 17, 2022 / Banyan Gold Corp . (the " Company " or " Banyan...
About this update from Banyan Gold Corp.
[{"type":"text","content":"Banyan Announces 4 Million Ounce Gold Mineral Resource Estimate for the Aurmac Property, Yukon, CanadaVANCOUVER, BC / ACCESSWIRE / May 17, 2022 / Banyan Gold Corp. (the \"Company\" or \"Banyan\") (TSXV:BYN)(OTCQB:BYAGF) is pleased to announce an updated mineral resource estimate (the \"Resource Estimate\") prepared for the Company's AurMac Property ‎located in the Mayo Mining ‎district, approximately 56 kilometres (‘kms\") northeast from Mayo, Yukon and 356 ‎kms north of Whitehorse, Yukon (the \"AurMac Property\"). ‎The updated Resource Estimate comprises a total inferred mineral resource of 3,990,000 ‎ounces of gold (Table 1) on the road accessible AurMac Property.This pit constrained mineral resource is contained in three near/on-surface deposits: the Airstrip, Powerline and Aurex Hill deposits. The Resource Estimate is summarized below in Table 1 and shown on Figure 1.\"This Resource Estimate demonstrates the value generated by Banyan with 40,000 metres of drilling adding over 3 million ounces of inferred mineral resources. All three deposits are open, with mineralization known to extend beyond the current block model boundaries.\" stated Tara Christie, President and CEO. \"Examining the Airstrip and Powerline Mineral Resource model highlights their robust nature; when the cut-off grades are increased by 50%, to 0.3g/t, just 10% of the ounces are reduced; while the grade increases by 20% to an average of 0.72 g/t. We are confident the 30,000 metres that the Company plans to drill in 2022 will meaningfully continue to build upon this Resource Estimate.\"Table 1: Pit-Constrained Inferred Mineral Resources - AurMac PropertyDepositAu Cut-Offg/tTonnageM TonnesAverage Au Gradeg/tAu Contentk oz.Airstrip0.242.50.64874Powerline0.2152.00.592,898Aurex Hill0.312.50.53215Total Combined0.2 - 0.3207.00.603,990Notes to Table 1: ‎The effective date for the Resource Estimate is May 13, 2022.Mineral resources which are not mineral reserves do not have demonstrated economic viability. The Resource Estimate may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, changes in global gold markets or other relevant issues.The definitions of inferred mineral resources that are contained in the Definition Standards of the Canadian Institute of Mining, Me...