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Positive initial inferred resource on the AurMac property
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.
The Company is pleased to announce its initial inferred resource on its AurMac project, near Mayo, Yukon. "We can now say that we have over 900K ounces at a combined grade 0.535 grams per ton of gold," says President and CEO, Tara Christie. This inferred mineral resource is split between two deposits. Banyan's Airstrip deposit and the Powerline deposit, which is located about a kilometer away.
"The resource modelling that we did also gave us additional targets. And we're now very confident we can get out and continue adding ounces with our drill campaign in 2020," says Christie.
The AurMac Property
The Airstrip and Powerline deposits are contained within the AurMac Property. They are both on and near-surface deposits and potentially open pit mineable, with expected low strip ratios. The AurMac Property is located just 40 km from Victoria Gold’s open pit, heap leach mine. It also sits 10 km from Alexco’s mill facility at the High-Grade silver deposits of the Keno Hills District. The AurMac Property lies on existing transportation infrastructure and the all-season road to Victoria Gold’s Eagle Mine. The Airstrip and Powerline deposits are within 1 km of each other. Further, they're both within 50m of year-round access roads, have 3-phase powerlines and benefit from cellular communications.
"With our drill campaign at both Airstrip and Powerline and with the next drill campaign, that should put us comfortably through one million ounces," says Christie.
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