Banyan reports 4Moz gold mineral resource estimate for Aurmac property in Yukon
(Kitco News) - Banyan Gold (TSXV:BYN) announced Tuesday an updated mineral resource estimate for the company's AurMac gold property located in the Mayo Mining district, approximately 56 kilometres northeast from Mayo, Yukon.
The company said that the updated resource estimate comprises a total inferred mineral resource of 3,990,000 ounces of gold on the road accessible AurMac property, adding that this pit constrained mineral resource is contained in three near/on-surface deposits: the Airstrip, Powerline and Aurex Hill deposits.
"This resource estimate demonstrates the value generated by Banyan with 40,000 metres of drilling adding over 3 million ounces of inferred mineral resources. All three deposits are open, with mineralization known to extend beyond the current block model boundaries," stated Tara Christie, President and CEO.
"Examining the Airstrip and Powerline mineral resource model highlights their robust nature; when the cut-off grades are increased by 50%, to 0.3g/t, just 10% of the ounces are reduced; while the grade increases by 20% to an average of 0.72 g/t. We are confident the 30,000 metres that the company plans to drill in 2022 will meaningfully continue to build upon this resource estimate," she added.
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Banyan is focused on gold exploration projects in Canada's Yukon. In addition to the AurMac property, the company holds the Hyland gold project, located 70 km Northeast of Watson Lake, Yukon, along the Southeast end of the Tintina Gold Belt.
The Hyland project is a sediment hosted, structurally controlled, intrusion related gold deposit, with a large land package (over 125 sq km), with the resource contained in the Main Zone area (900 m x 600 m) daylighting at surface and numerous other known surface gold targets. It appears the Main Zone oxide zone would be amenable to heap leach open-pit mining, with column leach recoveries of 86%.