- Banyan Gold Corp. (BYN) announced the drill results from its 2022 exploration program at the Powerline Deposit on the AurMac Property
- Six of the 29 drilled holes found trace but consistent amounts of gold mineralization near the surface
- All 29 drill holes were consistent with the company’s previous exploration drill results
- A strong bismuth-gold association has been identified at AurMac and is being used to create exploration routes
- Banyan Gold Corp. (BYN) is down 5.49 per cent trading at $0.43 per share as of 2:56 p.m. ET
Banyan Gold Corp. (BYN) announced the drill results from its 2022 exploration program at the Powerline Deposit on the AurMac Property.
The company highlighted the results from six of the 29 drilled holes, which all found trace but consistent amounts of gold mineralization near the surface.
Tara Christie, President and CEO of Banyan, commented,
“These latest assay results from the ongoing 2022 diamond drill program continue to systematically increase the mineralized footprint with consistent intersections of on/near-surface gold mineralization in and around the Powerline Deposit on the AurMac Property.”
Four drills are currently operating on the deposit. Banyan aims to provide a resource update in 2023 after the 2022 assays have been received and the AurMac geological model has been updated.
Collectively, all 29 drill holes were consistent with the company’s previous exploration drill results at the Powerline Deposit, and the areal extent of interpreted gold mineralization from near surface continues to expand.
The Powerline and Aurex Hill Gold Deposits are located where gold mineralization is primarily associated with low-angle veins seen crosscutting all lithologies. Banyan has interpreted these characteristics to be related to a large intrusion-related gold system typical of the Tombstone Gold Belt and Selwyn Basin gold deposits.
Also, a strong bismuth-gold association has been identified at AurMac and is being used to create exploration routes over the property.
Banyan Gold Corp. (BYN) is down 5.49 per cent trading at $0.43 per share as of 2:56 p.m. ET.