CRANBROOK, BC / ACCESSWIRE / October 7, 2024 / Eagle Royalties Ltd. (CSE:ER or "Eagle Royalties") reports that Banyan Gold has issued news announcing a helicopter-supported Z-axis Tipper Electromagnetic ("ZTEM") geophysical survey on the AurMac Project in Yukon Territory. Eagle Royalties owns royalty interests ranging from 0.5% to 2.0% on certain claims which overlie a significant portion of the inferred resource outlined at the Project (see complete BYN news release here).
According to the recent announcement, Banyan has contracted Geotech Ltd. to conduct the survey over an area of 234 square kilometres on the AurMac project, which hosts the Powerline and Airstrip deposits. Earlier this year, Banyan indicated that it had completed 15,000m of a planned a 20,000m drill program and initiated enhanced metallurgical studies to support a planned PEA expected to be completed by December 2025. Banyan recently reported test recoveries of 93% at Powerline and 90% at Airstrip using multiple conventional mill processing options including gravity recovery in combination with Carbon in Leach ("CIL")/Carbon in Pulp ("CIP") processes, and that work is ongoing for flotation-leach (see complete BYN news release here).
See additional AurMac royalty information here
Technical information in this News Release has been reviewed and approved by C.C. Downie, P.Geo., a director and officer of Eagle Royalties, hereby identified as the "Qualified Person" under N.I. 43-101.
About Eagle Royalties Ltd.
Eagle Royalties benefits from maintaining a strong treasury (currently in excess of CDN $3.5M) and holds a diverse portfolio of 38 royalty interests in western Canada. Target commodities subject to royalties include a broad spectrum including critical metals, precious metals, industrial minerals and diamonds. Its flagship royalty is associated with the AurMac Project located in Yukon, operated by Banyan Gold Corp. ER holds royalty interests ranging from 0.5% to 2% on claims that contain a significant portion of AurMac's inferred gold resource located at the Powerline and Airstrip deposit areas. Eagle Royalties also holds royalty interests on a number of historical base metal deposits located in Western Canada.
Eagle Royalties was previously a wholly-owned subsidiary of Eagle Plains Resources Ltd. (TSX-V:EPL), incorporated in late 2022 to manage the diverse royalty holdings of EPL. In May 2023, ER listed on the CSE after being spun out to Eagle Plains' shareholders on a 1:3 basis by means of a plan of arrangement.
On behalf of the Board of Directors
"Tim J. Termuende"
President and CEO
For further information on ER, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: info@eagleroyalties.com or visit our website at https://www.eagleroyalties.com/
Cautionary Note Regarding Forward-Looking Statements
Neither the CSE nor any other regulatory body has reviewed or approved the contents of this news release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Eagle Royalties Ltd.
View the original press release on accesswire.com
