Business
Mayo Lake Minerals Sells Property in The Yukon to Banyan Gold for $1,000,000
CASH INJECTION ENHANCES EXPLORATION PLANS FOR 2026 CLOSES 1ST TRANCHE OF, AND EXTENDS $300,000 PRIVATE PLACEMENT TO DECEMBER 30TH HighlightsMayo Lake has sold its non-core Trail- Minto Property in the Mayo-Keno area of Tombstone Gold Belt for $1,000,000 to Banyan Gold Inc. Retains a 2% NSR. Banyan can buy-back 1% of the 2% (1/2NSR) for $1,000,000.The Mayo-Keno area is the home of many companies with announced and growing resources [1]; Banyan Gold and Sitka Gold lead the hunt for...
About this update from Banyan Gold Corp.
[{"type":"text","content":"CASH INJECTION ENHANCES EXPLORATION PLANS FOR 2026 CLOSES 1ST TRANCHE OF, AND EXTENDS $300,000 PRIVATE PLACEMENT TO DECEMBER 30TH","length":130,"tagName":"p","attribs":{}},{"type":"text","content":"Highlights","length":10,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Mayo Lake has sold its non-core Trail- Minto Property in the Mayo-Keno area of Tombstone Gold Belt for $1,000,000 to Banyan Gold Inc. Retains a 2% NSR. Banyan can buy-back 1% of the 2% (1/2NSR) for $1,000,000.","length":209,"tagName":"p"}]},{"val":[{"type":"text","content":"The Mayo-Keno area is the home of many companies with announced and growing resources [1]; Banyan Gold and Sitka Gold lead the hunt for Intrusion Related Gold Systems (IRGS); Victoria Gold has established IRGS resources; Hecla is mining at Keno with an ever-growing-multi-year supply of silver.","length":294,"tagName":"p"}]},{"val":[{"type":"text","content":"This cash will shore up Mayo Lake's financial situation and allow it to focus its 2026 exploration campaign on its three remaining properties in the Mayo-Keno area.","length":168,"tagName":"p"}]},{"val":[{"type":"text","content":"Anderson-Davidson with 4 of 8 prospects being drill ready; drill targets are related to IRGS; over 13,300 metres of anomalous linear gold in soils for guidance in spotting drill holes.","length":184,"tagName":"p"}]},{"val":[{"type":"text","content":"Carlin- Roop silver property at the SE corner of the Keno Silver Camp; the Carlin West zone is defined by a 400m soil anomaly, one 60 by 125m area with all soils assaying ≥ 30g Ag/t and float along the assaying up to 3,994g Ag. ","length":227,"tagName":"p"}]},{"val":[{"type":"text","content":"Edmonton is characterized by a broad low marking an alteration zone and intrusive; soil sampling has pointed to numerous gold and base metal anomalies that have been verified by a soil gas survey.","length":196,"tagName":"p"}]},{"val":[{"type":"text","content":"The injection of funds from the sale of Trail Minto gives Mayo Lake the ability to acquire additional value from advanced stage, accretive projects, with or without reported resources.","length":184,"tagName":"p"}]},{"val":[{"type":"text","content":"The company also closed the first tranche of a $300,000 unbrokered private placement (CS and FT shares) and extended the placement's closing date ...