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Banyan Gold Corp.
Summary
| Project: | Aurex-McQuesten | |
|---|---|---|
| Deposit: | McQuesten | |
| Location: | Canada | |
| Commodities: | Gold-Silver | |
| Date: | 12/10/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 10-12-2018: Banyan Gold Corp. announces an Exploration/Drilling Update report for its McQuesten deposit at the Aurex-McQuesten project. Drilling results incl. 76.5m @ 0.49g/t Au from 57.5m. BANYAN GOLD CORP. (“Banyan” or “The Company”), is pleased to anno | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Paul Gray (Internal) | |
| ABSTRACT: | BANYAN GOLD CORP. (“Banyan” or “The Company”), is pleased to announce analytical results from the final five holes from the 2018, twelve-hole diamond drill campaign on the Aurex-McQuesten Property, Central Yukon. The property is located just 50 m off the main Yukon highway and also the all season road that leads to Victoria Gold’s Eagle mine, just 40 km away, which is currently under construction with Victoria’s first gold pour in H2 2019. The final five holes of the Aurex-McQuesten 2018 program served to successfully define This season's exploration drilling on our Aurex-McQuesten gold project has validated the McQuesten gold zone geologic model," stated Tara Christie, Banyan’s President and Chief Executive Officer. "In addition to the geologic model being confirmed, similar nearby gold bearing targets have been identified through this exploration campaign. Banyan is confident a potential open-pit minable resource exists on the property and will look to continue to develop this rapidly growing target. The recent expansion of the Victoria Gold’s Resource at Eagle by 450,000 ounces or 12.5% and a 2.5% increase in grade (Victoria Gold News Release December 5, 2019), to over a 4.0 M ounce Resource in the Measured and Indicated category* and their continued exploration success on their +13km Potato Hills trend, continues to validate that this is truly an underexplored and highly mineralized area of the Yukon. The property is adjacent to two mines, Victoria Gold and Alexco Resource Corp with existing year round roads and powerlines, making it well positioned to add value for Banyan following the old adage the best place to find a new mine, is in the shadow of the headframe of another mine.” Drillhole MQ-18-36 along with the additional thirteen (13) drillholes released in News Releases dated November 19th, 2018, October 24th 2018, September 13th 2017, September 11th 2017, and August 28th 2017, respectively have demonstrated that an ~500 m wide zone of the interpreted down dip extension of the stratabound McQuesten Gold Zone persists and is preferentially gold mineralized. The McQuesten Gold Zone represents the surface expression of an approximately 90m thick, calcareous package interpreted to host gold mineralization preferentially within retrograde skarn-related altered horizons. | |
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