Banyan Gold finds grade continuity at Airstrip zone in Yukon

Banyan Gold (TSXV: BYN) has released assays for nine holes completed at the Airstrip zone within its AurMac property, 56 km northeast of Mayo, Yukon. The drilling has extended the strike length of the mineralized zone by approximately 300 metres to the west, as well as down-dip, within the limits of the conceptual pit that constrains the existing Airstrip deposit.

Drill highlights included 116 metres of 0.75 gram gold per tonne starting at 20 metres; 65 metres of 0.64 gram gold per tonne from 6 metres; as well as 46 metres of 0.63 gram gold per tonne starting at 88 metres.

According to the company, the results show continuity of the gold grades within the Airstrip deposit, both on strike and down-dip.

“These results not only demonstrate the continuity of the AurMac gold deposit, but the long intervals will add meaningfully to the resource,” Tara Christie, the company’s president and CEO, said in a release.

Christie added that Banyan’s exploration is guided by its geological and resource models for the property. Drilling is expected to continue to late fall.

The assays released on Aug. 17 are the first results from this year’s exploration program at AurMac, with 25 holes, totalling over 5,000 metres, completed on Airstrip thus far in 2020. This includes 1,400 metres in seven holes drilled at the Powerline zone, within 1 km of Airstrip.

Assays are pending. Banyan noted that laboratory turn-around times are higher than expected, due to Covid-19 precautions and the high volume of samples submitted. Turnaround times of two months are expected to continue.

In May, Banyan published an initial resource estimate for the near-surface Airstrip and Powerline deposits at AurMac, with a total of 52.6 million pit-constrained inferred tonnes at 0.54 gram gold for a total of 903,945 ounces. Airstrip contributes 46 million tonnes at 0.52 gram gold to the inventory. The resources are based on a 0.2 gram gold per tonne cutoff grade.

At 92 sq. km, AurMac is adjacent to Victoria Gold’s (TSX: VGCX) Eagle gold mine and Alexco Resource’s (TSX: AXU; NYSE-AM: AXU) Keno Hill silver district. Based on option agreements with both companies, Banyan may earn up to a 100% interest in AurMac.

— This article first appeared in the Canadian Mining Journal. The Northern Miner the Canadian Mining Journal are part of Glacier Resource Innovation Group.