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Banyan Announces 6.2 Million Ounce Gold Resource Estimate for the AurMac Property, Yukon, Canada
VANCOUVER, BC / ACCESSWIRE / May 25, 2023 / Banyan Gold Corp . (the "Company" or "Banyan") ( TS...
About this update from Banyan Gold Corp.
[{"type":"text","content":"Banyan Announces 6.2 Million Ounce Gold Resource Estimate for the AurMac Property, Yukon, CanadaVANCOUVER, BC / ACCESSWIRE / May 25, 2023 / Banyan Gold Corp. (the \"Company\" or \"Banyan\") (TSXV:BYN)(OTCQB:BYAGF) is pleased to announce an updated Mineral Resource Estimate (the \"MRE\" or the \"Mineral Resource\") prepared in accordance with National Instrument 43-101, Standards for Disclosure for Mineral Projects (\"NI 43-101\") for the Aurex ‎and McQuesten properties (together, the \"AurMac Property\")‎1 ‎located in the Mayo Mining ‎District, approximately 56 kilometres (\"km\") northeast from the village of Mayo, Yukon, and 356 ‎km north of Whitehorse, Yukon. ‎The updated MRE comprises a total Inferred Mineral Resource (as defined in the Canadian Institute of Mining, Metallurgy and Petroleum (\"CIM\") Definition ‎Standards for Mineral Resources & Mineral Reserves incorporated by reference into NI 43‑101) of 6.2 million ‎ounces of gold on the near-surface, road accessible AurMac Property.The pit constrained Mineral Resource Estimate is contained in three near/on-surface deposits: The Airstrip, Powerline and Aurex Hill. The MRE is summarized below.\"This Mineral Resource update is an increase of over 2 million ounces or over 50% from the 2022 MRE,\" stated Tara Christie, President and CEO, \"This was accomplished with 50,000 metres of drilling completed in a single season. With all three deposits remaining open, Banyan continues to focus on growth and has already drilled 15,000 metres subsequent to this Mineral Resource Update in our ongoing 2023 exploration program.\"Table 1: Pit-Constrained Inferred Mineral Resources - AurMac PropertyDepositGold Cut-Off (g/t)Tonnage (Mt)Average Gold Grade (g/t)Contained Gold (koz)Airstrip0.2541.20.68897Powerline0.25197.40.613,840Aurex Hill0.3074.30.601,444Total Combined0.25 to 0.3312.90.616,181Notes: ‎The effective date for the Mineral Resource is May 18, 2023.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 R...