Banyan updates AurMac resource to 7 million oz. gold

The AurMac property is transected by the main Yukon highway and access road to the Victoria Gold open-pit, heap leach Eagle Gold mine. Credit: Banyan Gold Corp.

Banyan Gold (TSXV: BYN) has updated the mineral resource to 7 million oz. at its AurMac project in the Yukon. The inferred resource is 347.5 million tonnes grading 0.63 g/t gold.

The pit constrained estimate is contained in two surface deposits – Airstrip (containing 845,000 oz.) and Powerline (containing 6.2 million oz.)

The Airstrip deposit was delineated by 139 drill holes by mid-May last year. The bulk of the gold identified is hosted within a calcareous package, a roughly 90-metre-thick east-west striking zone. There are 35.2 million inferred tonnes grading 0.746 g/t gold and containing 845,276 oz. with a 0.3 g/t cut-off.

The Powerline deposit was tested with 954 holes in the last year. The mineralization model is comprised of eight parallel and undulating mineralized zones. The bulk of the resource is hosted in quartz veins. The total inferred resource (using a 0.3 g/t gold cut-off) is 312.2 million tonnes grading 0.613 g/t gold and containing 6.2 million oz.

“Metallurgical studies to date have demonstrated that Powerline mineralization is amenable to conventional mining processes, including carbon-in-pulp and carbon-in-leach, flotation and heap leaching,” CEO Tara Christie said in a news release.

“Looking at the grade sensitivities, at a 0.60 g/t cut-off there are potentially 4 million oz. at a grade of 1 g/t across AurMac, which highlights both the robust nature of the deposit as the cut-off grade is increased along with the potential for higher-grade zones.”

The AurMac project lies 30 km from Victoria Gold’s Eagle gold project and adjacent to Hecla Mining’s Keno Hill silver mine. The site has a three-phase powerline, existing power station, and cell phone coverage. Banyan is earning a 100% interest in the Aurex and McQuesten properties.