Banyan Gold Corp. (TSXV: BYN | OTCQB: BYAGF) has announced an updated mineral resource estimate (MRE) for their Aurex and McQuesten properties (AurMac Property) located in the Mayo Mining District of Canada’s Yukon territories.
The updated MRE comprises a total inferred mineral resource of 6.2Moz of gold on the near-surface AurMac property, which is transected by the main Yukon highway.
“This mineral resource update is an increase of over 2Moz, or over 50%, from the 2022 MRE,” stated Tara Christie, president and CEO.
“This was accomplished with 50,000m of drilling completed in a single season. With all three deposits remaining open, Banyan continues to focus on growth and has already drilled 15,000m subsequent to this mineral resource update in our ongoing 2023 exploration programme.”
The pit constrained MRE consists of three near/on-surface deposits: the Airstrip, Powerline, and Aurex Hill. Over 60%, or 3.8Moz, of the resource comes from the Powerline deposit.
The AurMac property is held by the company under earn-in/option agreements with StrataGold Corporation, a wholly-owned subsidiary of Victoria Gold Corp. (TSX: VGCX). It is located 40km from Victoria Gold’s Eagle mine and is 10km from Alexco’s mill facility within the Keno Hills district. Banyan has a right to earn up to a 100% interest, in both the Aurex and McQuesten Properties, subject to certain royalties.
Banyan initiated its 2023 exploration programme on 1 March 2023 and has had up to three drills operating on the property. Fifty-nine drill holes have been completed to date which together closed the gap between the Powerline Zone and Aurex Hill Zone and extended the Aurex Hill Zone further to the east.
The 2023 program will include approximately 80% of exploration drilling focused on Powerline and Aurex Hill deposits, as well as expanding the mineralization at Aurex Hill Zone to the east, and a commiserate ~20% on new targets.
For further information, please visit: www.banyangold.com/