Banyan Gold Corp.: Banyan Intercepts High Grade Gold Over Significant Widths at The Powerline Deposit, AurMac Property, Yukon

VANCOUVER, BC / ACCESS Newswire / January 16, 2025 / Banyan Gold Corp. (the "Company" or "Banyan") (TSXV:BYN)(OTCQB:BYAGF) is pleased to announce analytical results from twenty-four (24) diamond drillholes collared within the Powerline Deposit located on the Company's AurMac Property, Yukon Territory. This set of holes targeted the western portion of the Powerline Deposit (See Figure 1) as part of the 2024 AurMac definition drilling program.

Highlights from these most recent analytical results include:

• AX-24-551: 75.0 metres ("m") of 0.31 g/t Au from 102.6 m

• AX-24-561: 23.5 m of 1.06 g/t Au from 106.0 m

• AX-24-564: 45.7 m of 0.47 g/t Au from 96.2 m

• AX-24-575: 100.9 m of 0.31 g/t Au from 125.0 m

• AX-24-592: 48.8 m of 1.45 g/t Au from 70.1 m

• AX-24-595: 31.2 m of 0.68 g/t Au from 17.5 m

• AX-24-595: 39.7 m of 1.92 g/t Au from 72.3 m

• AX-24-596: 45.0 m of 0.53 g/t Au from 85.6 m

• AX-24-603: 48.5 m of 0.66 g/t Au from 96.3 m

• AX-24-610: 23.9 m of 0.84 g/t Au from 116.8 m

• AX-24-610: 18.6 m of 1.15 g/t Au from 158.9 m

• AX-24-618: 209.0 m of 0.63 g/t Au from 35.1 m

"These assay results continue to demonstrate consistent intervals of high-grade gold from the Powerline deposit," stated Tara Christie, President and CEO. "We are confident that the 2024 diamond drilling program achieved its main goal; to define areas of on and near-surface gold grades above the deposit average gold value to support the Preliminary Economic Assessment study planned for Q4 2025."

Summarized analytical results of these drillhole assays are presented in Table 1, collar locations in Table 2 and Figure 1 identifies drill collar locations, respectively.

The Powerline Deposit is contained within a metasedimentary package which consists of predominately schists, quartzites and limestones of the Late Proterozoic to Cambrian age Hyland Group. Gold mineralization here is chiefly associated with low angle quartz-sulfosalt-arsenopyrite veins seen crosscutting all lithologies and is interpreted to be associated with a large intrusion related gold system typical of the Tombstone Gold Belt and Selwyn Basin gold deposits. Highlighted instances of visible gold identified from Banyan's logging of these drillholes are shown in Image 1.

Image 1: Photographs of visible gold from:

Figure 1:AurMac drillhole locations. Location of historic and Banyan completed diamond drill holes used in Mineral Resource Estimate ("MRE")* (black and blue dots) and collar locations of 2024 drilling (yellow, red and green dots). *MRE effective date of February 6, 2024, details in Table 3.

Table 1: Highlighted Powerline Diamond Drill Analytical Results.

Hole ID	From (m)	To (m)	Interval (m*)	Au (g/t)
AX-24-551	60.7	65.1	4.4	3.48
and	102.6	177.6	75.0	0.31
AX-24-552	36.6	41.4	4.8	0.91
and	125.4	194.2	68.8	0.25
AX-24-554	35.4	50.7	15.2	0.52
and	84.3	87.3	3.0	0.38
and	101.8	111.2	9.4	0.55
and	131.0	135.9	4.9	0.65
AX-24-555	73.5	79.5	6.0	1.29
and	88.6	98.6	10.1	0.35
and	137.3	141.8	4.5	0.86
AX-24-556	115.5	128.4	12.9	0.43
and	141.0	149.5	8.5	0.42
and	172.2	175.3	3.1	4.82
AX-24-559	89.3	125.0	35.7	0.32
and	134.5	151.0	16.5	0.49
and	190.0	197.6	7.6	0.31
AX-24-561	50.8	56.4	5.6	0.45
and	106.0	129.5	23.5	1.06
AX-24-564	96.2	141.8	45.7	0.47
and	153.6	175.4	21.8	0.29
AX-24-567	35.7	45.3	9.6	0.42
and	100.7	113.0	12.3	0.66
and	134.3	157.6	23.3	0.37
AX-24-571	34.0	75.6	41.6	0.31
and	163.2	182.0	18.8	0.34
AX-24-575	28.6	53.3	24.7	0.37
and	92.0	104.6	12.6	0.36
and	125.0	225.9	100.9	0.31
AX-24-580	125.9	140.0	14.1	0.69
and	152.0	154.5	2.5	0.40
and	177.5	186.5	9.0	0.21
and	239.0	257.0	18.0	0.39
AX-24-591	22.9	49.5	26.6	0.44
and	83.4	114.7	31.3	0.50
and	135.5	140.0	4.5	0.37
and	153.5	159.6	6.1	0.27
AX-24-592	19.8	25.9	6.1	1.19
and	70.1	118.9	48.8	1.45
AX-24-599	48.5	66.5	18.0	0.60
and	93.0	123.0	30.0	0.41
and	142.5	147.3	4.8	0.32
and	178.5	181.0	2.5	0.36
AX-24-603	24.4	57.5	33.1	0.36
and	96.3	144.8	48.5	0.66
and	165.2	171.6	6.4	0.52
AX-24-606	28.3	62.5	34.2	0.46
and	98.9	179.0	80.1	0.55
AX-24-610	36.8	57.2	20.4	0.31
and	87.4	105.2	17.8	0.82
and	116.8	140.7	23.9	0.84
and	158.9	177.5	18.6	1.15
and	189.6	198.7	9.1	0.59
AX-24-614	56.4	101.2	44.8	0.32
and	121.4	149.7	28.2	0.38
and	168.2	173.4	5.2	0.50
and	183.3	201.9	18.6	0.55
and	221.4	224.0	2.6	0.98
AX-24-618	35.1	244.1	209.0	0.63
AX-24-620	57.0	80.0	23.0	0.38
and	122.8	149.5	26.7	0.34
and	175.7	204.6	28.9	0.30
and	228.5	259.5	31.0	0.36
AX-24-632	22.6	63.7	41.1	0.39
and	77.4	89.6	12.2	0.36
and	109.0	114.1	5.1	3.63
AX-24-635	42.3	74.7	32.4	0.25
and	112.4	136.3	23.9	0.63

*True widths are estimated to be approximately 90% of drilled intervals.

Table 2: Drill Collar Location for Released Results

Collar ID	East NAD83_Z8	North NAD83_Z8	Elev. (m)	Azimuth	Dip (°)	Depth (m)
AX-24-551	466453	7083054	753	356	-59	224.0
AX-24-552	466351	7083053	744	353	-59	203.9
AX-24-554	466250	7083052	735	005	-60	147.8
AX-24-555	466250	7083145	734	354	-60	164.6
AX-24-556	466353	7083149	738	353	-64	175.3
AX-24-559	466850	7082950	773	357	-58	207.3
AX-24-561	466751	7082952	770	354	-59	157.0
AX-24-564	466649	7082947	767	357	-61	176.8
AX-24-567	466551	7082952	762	348	-60	204.5
AX-24-571	466453	7082947	754	355	-58	266.1
AX-24-575	466551	7082855	762	357	-61	225.9
AX-24-580	466453	7082850	755	354	-56	263.7
AX-24-591	466954	7082852	779	004	-59	208.8
AX-24-592	467049	7082656	794	354	-60	190.5
AX-24-599	466849	7082857	773	006	-63	201.2
AX-24-603	466845	7082743	774	002	-61	182.9
AX-24-606	466751	7082845	770	002	-59	208.8
AX-24-610	466751	7082777	770	358	-60	248.4
AX-24-614	466651	7082834	763	359	-61	245.4
AX-24-618	466652	7082750	765	357	-61	245.4
AX-24-620	466548	7082746	759	359	-57	260.6
AX-24-629	466969	7083247	785	350	-60	194.5
AX-24-632	466946	7083060	777	297	-88	152.1
AX-24-635	466955	7082909	776	354	-62	175.3

Upcoming Events

• Crescat Capital Tombstone Gold Belt Webinar, January 16, 2025, 11:00am PST / 2:00pm EST

• Metals Investor Forum Vancouver, January 17 - 18, 2025

  • Corporate Presentation: January 18, 11:00 AM PST

• Vancouver Resource Investment Conference 2024, January 19 - 20, 2025

  • Exhibitor Booth 103

  • Corporate Presentation, January 19, 200 PM PST, Workshop 4

• AME Roundup, January 22 - 23, 2025

  • Core Shack Booth 919:

    • January 22, 9:00 AM PST - 4:00 PM PST

    • January 23, 9:00 AM PST - 2:30 PM PST

• BMO 34^th Global Metals, Mining & Critical Minerals Conference, February 23 - 26, 2025

Analytical Method and Quality Assurance/Quality Control Measures

All drill core splits reported in this news release were analysed by Bureau Veritas of Vancouver, B.C., utilizing the aqua regia digestion ICP-MS 36-element AQ-200 analytical package with FA-450 50-gram Fire Assay with AAS finish for gold on all samples. All core samples were split on-site at Banyan's core processing facilities. Once split, half samples were placed back in the core boxes with the other half of split samples sealed in poly bags with one part of a three-part sample tag inserted within. Samples were delivered by Banyan personnel or a dedicated expediter to the Bureau Veritas, Whitehorse preparatory laboratory where samples are prepared and then shipped to Bureau Veritas's Analytical laboratory in Vancouver, B.C., for pulverization and final chemical analysis. A robust system of standards, ½ core duplicates and blanks was implemented in the 2024 exploration drilling program and was monitored as chemical assay data became available.

Qualified Persons

Paul D. Gray, P.Geo., is a "qualified person" as ?defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101"), and has reviewed and approved the content of this news release.? Mr. Gray is a consultant to Banyan and has verified the data disclosed in this news release, including the sampling, ??analytical and test data underlying the information.

About Banyan

Banyan's primary asset, the AurMac Project is located in Canada's Yukon Territory. The current inferred Mineral Resource Estimate ("MRE") for the AurMac Project of 7.0 million ounces has an effective date of February 6, 2024.

The 173 square kilometres ("sq km") AurMac Project lies 40 km from Mayo, Yukon. The AurMac Project is transected by the main Yukon highway and benefits from a 3-phase powerline, existing power station and cell phone coverage. Banyan has the right to earn up to a 100% interest, in both the Aurex and McQuesten Properties respectively, subject to certain royalties.

The inferred MRE for the AurMac Project was prepared on February 6, 2024, and consisted of 7,003,000 ounces of gold (see Table 3) hosted within near surface, road accessible pit constrained Mineral Resources contained in two near/on-surface deposits: the Airstrip and Powerline Deposits.

Table 3: Pit-Constrained Inferred Mineral Resources - AurMac Property

Deposit	Gold Cut-Off (g/t)	Tonnage (Tonnes)	Average Gold Grade (g/t)	Contained Gold (oz.)
Inferred
Airstrip	0.30	35,243,000	0.75	845,000
Powerline	0.30	312,243,000	0.61	6,158,000
Total Combined	0.30	347,486,00	0.63	7,003,000

Notes: ?

1. The effective date for the MRE is February 6, 2024, and was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., an independent Qualified Person in accordance with the requirements of NI43-101. The technical report supporting the Resource Estimate entitled "AurMac Property, Mayo Mining District, Yukon Territory, Canada" (the "Technical Report") has been filed on SEDAR at www.sedarplus.ca on March 18, 2024.

2. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, changes in global gold markets or other relevant issues.

3. The CIM Definition Standards were followed for classification of Mineral Resources. The quantity and grade of reported Inferred Mineral Resources in this estimation are uncertain in nature ?and there has been insufficient exploration to define these Inferred Mineral Resources as an ?Indicated Mineral Resource and it is uncertain if further exploration will result in upgrading them to an ?Indicated or Measured Mineral Resource category.

4. Mineral Resources are reported at a cut-off grade of 0.30 g/t gold for all deposits, using a US$/CAN$ exchange rate of 0.75 and constrained within an open pit shell optimized with the Lerchs-Grossman algorithm to constrain the Mineral Resources with the following estimated parameters: gold price of US$1,800/ounce, US$2.50/t mining cost, US$5.50/t processing cost, US$2.00/t G+A, 80% gold recoveries, and 45° pit slopes.

5. The number of tonnes and ounces was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations as per NI 43-101.

In addition to the AurMac Property, the Company holds the Hyland Gold Project, located 70 km Northeast of Watson Lake, Yukon, along the Southeast end of the Tintina Gold Belt (the "Hyland Project"). The Hyland Project represents a sediment hosted, structurally controlled, intrusion related gold deposit, within a large land package (over 125 sq km), accessible by a network of existing gravel access roads.

Banyan trades on the TSX-Venture Exchange under the symbol "BYN" and is quoted on the OTCQB Venture Market under the symbol "BYAGF". For more information, please visit the corporate website at or contact the Company.

ON BEHALF OF BANYAN GOLD CORPORATION

(signed) "Tara Christie"

Tara Christie
President & CEO

For more information, please contact:

Tara Christie • 778 928 0556 • [e-mail]
Jasmine Sangria • 604 312 5610 • [e-mail]

CAUTIONARY STATEMENT: Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) nor OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

FORWARD LOOKING INFORMATION: This news release contains forward-looking information, which is not comprised of historical facts and is based upon the Company's current internal expectations, estimates, projections, assumptions and beliefs. Such information can generally be identified by the use of forwarding-looking wording such as "may", "will", "expect", "estimate", "anticipate", "intend(s)", "believe", "potential" and "continue" or the negative thereof or similar variations. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's plans for exploration; and statements regarding exploration expectations, ease and confidence in increasing ounces, exploration or development plans and timelines; mineral resource estimates; mineral recoveries and anticipated mining costs. Factors that could cause actual results to differ materially from such forward-looking information include uncertainties inherent in resource estimates, continuity and extent of mineralization, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, and the other risks involved in the mineral exploration and development industry, enhanced risks inherent to conducting business in any jurisdiction, and those risks set out in Banyan's public documents filed on SEDAR. Although Banyan believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Banyan disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: Banyan Gold Corp.

View the original press release on ACCESS Newswire