CRANBROOK, BC / ACCESS Newswire / January 30, 2025 / Eagle Royalties Ltd. (CSE:ER.CN) or ("Eagle Royalties") has recently learned of encouraging drill hole intercepts, including visible gold, at Banyan Gold Corp.'s AurMac project in central Yukon (see Jan 16th BYN news release here). Eagle Royalties holds royalty interests ranging from 0.5% to 2.0% on certain claims which comprise a portion of the AurMac project. See additional AurMac royalty information here
According to the recent announcement, Banyan has reported results for 19 holes which appear to be drilled in the Powerline resource area on mineral claims subject to a 1% net smelter return royalty held by Eagle Royalties*. The highlighted reported results for the recent holes are as follows:
Highlighted AurMac Assay Results Relating to Eagle Royalties**:
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-24-610: 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
*Complete analytical results can be found within the original Banyan news release here
**true widths are estimated to be approximately 90% of drilled intervals
See drill-hole locations here
The above technical information relating to drill collar location and analytical results have been taken directly from the Banyan Gold news release dated January 16th, 2025. More detailed drilling information, analytical procedures and results are available in the full news release issued by Banyan. Eagle Royalties management believes that although the reported true thickness estimates and drill collar location coordinates are accurate, it cautions that ER does not have detailed geological data or final surveyed locations of the drill hole traces in relation to the claims that are underlain by the ER royalty interests.
As reported by Banyan, the company initiated its 2024 exploration program on June 1 2024, and has completed 118 drill-holes and over 21,000 m of drilling within the Powerline and Airstrip deposit areas. Drilling was reportedly completed in mid-October and to date, Banyan has released results for 76 of the drill holes.
On September 16th 2024 Banyan reported test recoveries of 93% in samples 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).
Banyan has also recently announced plans for 2025 work at the AurMac (see Jan 7th BYN news release here), which include a Resource update in Q2 and a Preliminary Economic Assessment (PEA) in Q4.
As a royalty holder, Eagle Royalties has limited, if any, access to the properties subject to its interests. The company generally relies on publicly available information regarding these properties and related operations and often has no ability to independently verify such information. In addition, such publicly available information may relate to a larger property area than that covered by the company's interests.
Qualified Persons
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.
On behalf of the Board of Directors
"Tim J. Termuende"
President and CEO
For further information regarding ER, please contact Mike Labach, Business Development Officer, 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 ACCESS Newswire
