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Banyan Announces 903,945 Gold Ounce Initial Mineral Resource Estimate for the AurMac Property, Yukon, Canada
VANCOUVER, BC / ACCESSWIRE / May 25, 2020 / Banyan Gold Corp . (the "Company" or "Banyan") ...
About this update from Banyan Gold Corp.
[{"type":"text","content":"Banyan Announces 903,945 Gold Ounce Initial Mineral Resource Estimate for the AurMac Property, Yukon, CanadaVANCOUVER, BC / ACCESSWIRE / May 25, 2020 / Banyan Gold Corp. (the \"Company\" or \"Banyan\") (TSXV:BYN) is pleased to announce an Initial Mineral Resource Estimate in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (\"CIM\") Definition ‎Standards incorporated by reference in National Instrument 43-101 (\"NI 43-101\") for the Aurex ‎and McQuesten properties (together, the \"AurMac Property\")‎[1] ‎located in the Mayo Mining ‎district, approximately 56 kilometres northeast from the village of Mayo, Yukon and 356 ‎kilometres north of Whitehorse, Yukon. ‎The Initial Mineral Resource Estimate comprises a total Inferred Mineral Resource of 903,945 ‎ounces of gold on the near surface, road accessible AurMac Property.This pit constrained Mineral Resource is contained in two near/on-surface deposits: The Airstrip and Powerline deposits. The Mineral Resource is summarized below:Table 1: Pit-Constrained Inferred Mineral Resources at a 0.2 g/t Au Cut-Off - AurMac PropertyDepositClassificationTonnageTonnesAverage Au Gradeg/tAu Contentoz.AirstripInferred45,997,9110.524774,926PowerlineInferred6,578,6090.610129,019Total CombinedInferred52,576,5200.535903,945Notes to Table 1: ‎The effective date for the Mineral Resource is May 25, 2020. 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 definitions were followed for classification of Mineral Resources. The quantity and grade of reported inferred Mineral Resources in this estimation are uncertain in nature ‎and there has been insufficient exploration to define these inferred Mineral Resources as an ‎indicated Mineral Resource and it is uncertain if further exploration will result in upgrading them to an ‎indicated or measured Mineral Resource category.Mineral Resources are reported at a cut-off grade of 0.2 g/t Au, using a US$/CAN$ exchange rate of 0.75 and constrained within an open pit shell optimized with the Lerchs-Grossman algorit...