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Banyan Begins 2019 Aurex-McQuesten Exploration Program, Yukon
CALGARY, AB / ACCESSWIRE / June 4, 2019 / BANYAN GOLD CORP. ("Banyan" or "The Company"), is ...
About this update from Banyan Gold Corp.
[{"type":"text","content":"Banyan Begins 2019 Aurex-McQuesten Exploration Program, YukonCALGARY, AB / ACCESSWIRE / June 4, 2019 / BANYAN GOLD CORP. (\"Banyan\" or \"The Company\"), is pleased to announce plans for its' 2019 exploration program on the Aurex-McQuesten Gold Project, Central Yukon, which is located at the junction of two well-known mineralized belts: Alexco Resource Corp's Keno Hill high-grade silver district and Victoria Gold Corp's Eagle Gold Mine, which is currently under construction and scheduled to produce over 200,000 ounces of gold annually starting in second half of 2019. Banyan's 2019 exploration plans at Aurex-McQuesten include over 1,000m of diamond drilling in and around the McQuesten Gold Zone starting in June, from a program partly funded with support from the Yukon Government, through a YMEP grant.2019 is a difficult year for junior exploration companies to raise capital and Banyan has taken additional measures to reduce costs and preserve capital, respecting shareholders' investments. This year's program at Aurex-McQuesten has been strategically designed to yield information that will position Banyan well for the success of future drill programs as well as to complete the earn in on our option agreements with Victoria Gold Corp and Alexco Resource Corp., respectively for 2019.Approximately 400m of diamond drilling will be dedicated to infill drilling (increased drill density) within an interpreted higher-grade mineralized zone around holes: MQ-03-09, MQ-17-26, MQ-18-30 and MQ-18-37 at the McQuesten Gold Zone. These previously drilled holes define over 160m of a northeast/southwest trend on nominally 50m spaced holes. Grade-widths of these intersections are summarized below: 98.8 m of 1.59 g/t Au from 3.7 m in DDH MQ-03-09 96.4 m of 0.74 g/t Au from 5.8 m in DDH MQ-17-26 80.8 m of 1.06 g/t Au from 10.1 m in DDH MQ-18-30 94.9 m of 0.64 g/t Au from 8.9 m in DDH MQ-18-37Within each of these drillholes' mineralized intercepts, multiple intervals returned gold assays greater than 1 g/t Au (up to 84.8 g/t Au over 1.1m) hosted within pyrrhotitic-rich horizons. The 2019 drillholes will further refine the geological model for the McQuesten Gold Zone through the definition of the extent and distribution of these higher-grade intervals. \"The goal of the infill drilling will be to identify the controls on the distribution of higher-grade...