Categories: Precious Metals
Topics: General Precious Metals / Gold Stocks

Capitalizing on US$2,000/oz gold in Canada's newest gold rush

Editor's Note: We just delivered a freshly minted gold investing analysis from our expert, Gerardo Del Real. This exclusive report illuminates the strategic moves employed by the ultra-wealthy in the gold market, as well as the particular vehicles they prefer for their investments. Click here to learn more.

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Dear Reader,

Banyan Gold Corp. (TSX-V: BYN)(OTC: BYAGF), currently trading around C$0.30 per share, has announced an updated Mineral Resource Estimate (MRE) at its flagship AurMac gold project in the Yukon’s Mayo district — Canada’s newest and most rapidly growing mining district.

The AurMac project, which boasts excellent infrastructure in place including access roads and power, is situated 30 km from Victoria Gold’s Eagle gold project and adjacent to Hecla Mining’s high-grade Keno Hill silver mine.

The updated MRE at AurMac comprises an Inferred Mineral Resource of 347.5 million tonnes grading 0.63 grams per tonne gold at a 0.3 g/t Au cut-off for 7 million ounces of gold. The resource spans two main zones — Powerline and Airstrip — and is open in all directions and at depth with potential for further resource expansion. 

The AurMac project consists of the Aurex and McQuesten projects optioned from Victoria Gold and Hecla Mining, respectively, as well as additional claims staked by Banyan. With the optioned claim blocks and additional staking completed by Banyan, the AurMac property currently covers over 173 sq km. 

To date, Banyan has earned 51% of the Aurex property and 75% of the McQuesten property and holds the right to earn a 100% interest in the underlying properties subject to royalties. 

Banyan Gold CEO Tara Christie — whom you’re about to hear from directly in our exclusive interview coming right up — commented on the resource upgrade via press release: 

“With the AurMac Resource now at 7.0 Moz gold; 6.2 Moz in the Powerline Deposit alone, we can focus on delineating higher-grade zones, increase the confidence in the resource and further de-risk the project. Metallurgical studies to date have demonstrated that Powerline mineralization is amenable to conventional mining processes, including Carbon in Pulp (“CIP”) and Carbon in Leach (“CIL”), flotation and heap leaching. Looking at the grade sensitivities, at a 0.60 g/t cut-off there are potentially 4 Moz at a grade of 1 g/t across AurMac, which highlights both the robust nature of the deposit as the cut-off grade is increased along with the potential for higher grade zones.”

The Powerline deposit, which is the larger of the two, produced an Inferred Mineral Resource of 312.2 million tonnes at an average gold grade of 0.61 g/t for a total of 6,158,000 ounces of gold. The Airstrip deposit returned 5.2 million tonnes at an average gold grade of 0.75 g/t for a total of 845,000 ounces of gold. 

Earlier this month, the company announced positive metallurgical test results from the Powerline deposit, resulting in robust gold recovery rates averaging 91% from multiple conventional recovery processes. The company expects additional optimization to further increase gold recovery rates, which should, in turn, assist the company in minimizing operating costs and maximizing value in future economic studies.

Importantly, to date at AurMac, Banyan has only drilled to about 200 feet of depth (with drill data on 1,000-plus drill holes across the two main deposits), which greatly opens up the potential for significant resource expansion at-depth in future drill rounds across approximately 5 km of strike length. 

Additionally, Banyan holds the Hyland Gold Project, located 70 km northeast of Watson Lake, Yukon, along the southeast end of the Tintina Gold Belt. The project represents a sediment-hosted, intrusion-related gold deposit within a large land package spanning ~125 sq km and accessible by a network of existing gravel access roads.

Banyan Gold is cashed up to fund near-term exploration activities with approximately C$7 million in the treasury as of January 2024. 

For a deeper dive, our own Gerardo Del Real of Junior Resource Monthly caught up with Banyan Gold CEO Tara Christie to go over the plans and process for advancing the flagship AurMac gold project to the benefit of BYN/BYAGF shareholders. Please enjoy! 

For more on Vancouver-based Banyan Gold Corp., please contact the company’s IR department at 888-629-0444 or via email at info@banyangold.com.

Visit the Banyan Gold corporate website and sign up to receive updates directly from the company here. 

Yours in profits,

Mike Fagan
Editor, Resource Stock Digest