Recent drill results at Banyan Gold’s (TSX-V: BYN; US-OTC: BYAGF) Airstrip target, part of its AurMac project in the Yukon have returned strong mineralization and extend high-grade domains.
Highlight hole AX-25-708 cut 17.6 metres grading 3.66 grams gold per tonne from 24 metres depth, including 9.3 metres at 6.8 grams gold and one very high-grade interval of 1.6 metres grading 35.98 grams gold, Banyan said Thursday.
“These results continue to highlight the >1g/t Au near-surface mineralized domains in AurMac,” Banyan CEO Tara Christie said in a release.
Potential resource booster
Duncan Mackay, vice president of exploration, said that the AX-25-708 intersections highlight the potential to add more ounces to Airstrip and improve the resource.
“The high-grade core of Airstrip associated with the felsic dyke contact now extends over 500 metres along strike and nearly 300 meters down dip,” he said.
Busy results season
The Airstrip results add to a productive fall for Banyan, which just over two weeks ago released a resource update for its Hyland project that keeps the company’s portfolio in third place in Yukon by total contained gold ounces. The update added 5% to Banyan’s total contained gold of 8.1 million ounces. AurMac also comprises the Powerline target.
Other noteworthy results from Airstrip include hole AX-25-703, which returned 11.4 metres grading 2.04 grams gold from 25.2 metres depth, including 5.6 metres at 3.6 grams gold, and a high-grade portion of 1.2 metres grading 7.98 grams gold.
Hole AX-25-714 cut 18.4 metres at 1.12 grams gold from 14.2 metres depth, including 6.7 metres grading 2.12 grams gold.
AurMac, located 270 km northeast of Dawson City, hosts 112.5 million indicated tonnes grading 0.63 gram gold for 2.27 million oz.; and 280.6 million inferred tonnes at 0.6 gram gold for 5.45 million contained ounces.
Banyan shares fell 3% to 88¢ apiece Thursday morning in Toronto, valuing the company at $364.3 million. The stock has traded in a 12-month range of 17¢ to 92¢.
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