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Banyan Gold Announces 6.2 Million Ounce Gold Resource Estimate for the AurMac Property, Yukon, Canada
VANCOUVER, BC / ACCESSWIRE / May 24, 2023 / Banyan Gold Corp. (the "Company" or "Banyan") (TSXV:BYN) (OTCQB:BYAGF) is pleased to announce an updated Mineral Res
About this update from Banyan Gold Corp.
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / May 24, 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 Property Deposit Gold Cut-Off (g/t) Tonnage (Mt) Average Gold Grade (g/t) Contained Gold (koz) Airstrip 0.25 41.2 0.68 897 Powerline 0.25 197.4 0.61 3,840 Aurex Hill 0.30 74.3 0.60 1,444 Total Combined 0.25 to 0.3 312.9 0.61 6,181 Notes: 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 Resources. The quantity and grade of reported Inferred Mineral Resources in this estimation are uncertain in nature and there has b...