Banyan Gold Corp. is a Canadian exploration and development company focused on Gold and is advancing two Yukon Gold properties, the Hyland Gold Project and the Aurex-McQuesten Gold Project.
Banyan Gold had a good year in 2020 when they focused on the AurMac project and put out a resource in May 2020 of 900,000oz there. Since then they have drilled another 10,000m and are on track to drill another 15,000m.
The AurMac project is the priority for Banyan Gold at this stage as it provides huge value for shareholders. The company found that during Covid, it was sensible to focus the team on one project and keep the team all in one place. One drill worked continuously from June- December 2020, completing 10,000m of drilling to build on the geological model, extend the strip and add valuable ounces at AurMac. Banyan Gold plan to start work on the Hyland project in 2022 but for now the main focus is AurMac.
At AurMac, the Powerline discovery has exceeded all expectations with mineralisation over 2.5km and every single drill hole hitting anomalous mineralisation. Powerline is a horizontal model which is open to the South, the East and at depth. The 2021 drill programme started there in Feb 2021 in very cold conditions and Banyan Gold is already 6,000m into the planned 15,000m drill programme. The company is confident that the resource will reach the 2Moz target which is considered a critical number in the Yukon to be an economic, standalone resource.
Banyan Gold has started work on the PEA and the baseline environmental and water quality work required for permitting and there will be news flow planned for every couple of weeks going forward. The updated resource will be out in the autumn of this year for this open-pit heap leach mine project which is low strip ratio and has excellent local infrastructure.
The company is well positioned for 2021 having recently raised another C$2.5M and are fully funded going forward. They started the year with C$5.8M and spent C$4.5M on exploration and have some left for further exploration and for the Hyland project.
Banyan Gold will continue to promote their company by telling the story to the right people in the marketplace. There will be ongoing drill results published every 2-3 weeks and the neighboring Victoria Gold story will help gain momentum for the Banyan Gold story.
Company page: https://www.banyangold.com/
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