Banyan Intersects 0.72 g/t gold over 197.0 metres from Surface, Powerline Deposit, AurMac Property, Yukon, Canada

Banyan Gold Corp.
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VANCOUVER, BC / ACCESSWIRE / September 5, 2024 / Banyan Gold Corp. (the "Company" or "Banyan") (TSXV:BYN)(OTCQB:BYAGF) is pleased to announce the analytical results from twelve (12) diamond drill holes collared this season in the Powerline Deposit located on the Company's AurMac Project ("AurMac"), Yukon Territory. These holes were drilled in the north central portion of the Powerline Deposit as part of Banyan's ongoing definition and de-risking drill campaign on the Project.

Assay highlights include:

  • AX-24-519: 138.7 metres ("m") of 0.52 g/t gold ("Au") from surface (6.1m)

  • AX-24-520: 98.1m of 0.72 g/t Au from near-surface (33.7m)

  • AX-24-521: 111.4m of 0.52 g/t Au from near-surface (45.5m)

  • AX-24-522: 184.3m of 0.60 g/t Au from near-surface (24.9m)

  • AX-24-524: 197.0m of 0.72 g/t Au from surface (10.5m)

  • AX-24-525: 55.1m of 0.91 g/t Au from surface (5.3m)

"These results increase the confidence and demonstrate the continuity of the near-surface gold mineralization of the Powerline Deposit, as the AurMac Deposit both continues to add ounces and advances from an Inferred Resource to an Indicated Resource." stated Tara Christie, President and CEO. "The focus of drilling in 2024 are areas of higher grade which would likely be part of the mine plan for the PEA planned for late 2025."

Highlighted results from this set of twelve (12) drill holes are shown in Tables 1, collar locations in Table 2 and Figure 1 presents the drill hole locations.

The Powerline Gold Deposit is contained within a metasedimentary package consisting of predominately schists, quartzites and limestones of the Late Proterozoic to Cambrian 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 from the holes reported herein are shown in Image 1.

Image 1: Photographs of visible gold from drill holes:

Figure 1: AurMac Drill Hole Location Map, showing the location of historic and Banyan completed diamond drill holes used in 2024 Mineral Resource Estimate ("MRE") (grey, black and blue dots) and collar locations of 2024 drill holes (red and green dots).

Table 1: Highlighted Powerline Diamond Drill Analytical Results. (Maps, sections and full assay results will be made available on Banyan's website).

Hole ID

From (m)

To (m)

Interval (m*)

Au (g/t)

AX-24-519

6.1

144.8

138.7

0.52

or

6.1

56.3

50.2

0.67

and

65.5

100.7

35.2

0.40

and

124.3

144.8

20.5

1.07

AX-24-520

37.7

135.8

98.1

0.72

AX-24-521

45.5

156.9

111.4

0.52

or

45.5

77.2

31.7

0.29

and

90.0

114.3

24.3

0.93

and

143.9

156.9

13.0

1.87

AX-24-522

24.9

209.2

184.3

0.60

or

24.9

29.3

4.4

1.01

and

42.0

72.3

30.3

0.72

and

86.3

117.6

31.3

0.71

and

137.3

147.7

10.4

1.89

and

163.1

209.2

46.1

0.82

AX-24-523

21.3

83.3

62.0

0.35

or

21.3

30.5

9.2

0.55

and

56.8

83.3

26.5

0.56

AX-24-524

10.5

207.5

197.0

0.72

AX-24-525

5.3

60.4

55.1

0.91

and

81.7

122.1

40.4

0.42

AX-24-526

21.2

139.7

118.5

0.38

or

21.2

44.2

23.0

0.43

and

53.0

95.6

42.6

0.38

and

107.1

139.7

32.6

0.53

AX-24-527

25.6

64.5

38.9

0.31

and

123.6

156.1

32.5

0.30

AX-24-528

19.8

24.3

4.5

0.51

47.4

68.8

21.4

0.77

AX-24-529

50.6

60.8

10.2

0.57

and

104.8

134.2

29.4

0.31

AX-24-530

18.3

58.3

40.0

0.30

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

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