Projects indicate multi-million-ounce potential
As gold prices rise, Banyan Gold is building resources in Canada’s Yukon. Banyan is focusing on gold exploration projects that have the geological potential, size of land package and proximity to infrastructure that is advantageous for a mineral project to have potential to become a mine. Its Yukon based projects have existing Mineral Resources that fit this model. Further, the Company’s objective is to increase shareholder value by advancing projects in its pipeline.
The Aurex-McQuesten Gold Project
Banyan’s Aurex-McQuesten Gold Project is located in the Mayo Mining district. It’s approximately 56 kilometres northeast from the village of Mayo and 356 kilometres north of Whitehorse. The Aurex claim block was acquired from Victoria Gold Corp. Additionally, the McQuesten claim block Project was acquired from Alexco Resource Corp. with Banyan having the right to earn up to a 100% interest subject to royalties.
The Project consists of 506 active Yukon registered quartz mineral claims totaling over 9,230 hectares. Its also easily road accessible. The all-weather Silver Trail Highway transects the mineral claims. In addition, there is a network of four-wheel drive roads and trails that accesses the Property. There’s also a three-phase power grid line that exists on the Property.
Hyland Gold Project
The Hyland Gold Project sits in the Watson Lake Mining District in southeast Yukon. It’s approximately 74 kilometres northeast from the town of Watson Lake within the traditional territory of the Liard First Nation, part of the Kaska Nations. Moreover, the Project consists of 927 active Yukon registered quartz mineral claims totalling over 18,620 hectares in area that is currently accessible by vehicles on a winter road from Watson Lake.
The project has a National Instrument 43-101 Technical Report (NI-43-101) indicated mineral resource of 8.6 million tonnes grading 0.85 gram per tonne gold equivalent (AuEq) for 236,000 AuEq ounces with an inferred mineral resource of 10.8 million tonnes grading 0.83 g/t AuEq for 288,000 AuEq ounces at a 0.3 g/t AuEq cut-off. Furthermore, this resource is located in its entirety on what is known as the “Main Zone”, is open in all directions and at depth, and has the potential to host a multi-million ounce deposit.
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