Banyan Gold More Than Triples The Mineralized Zone At Powerline
Banyan Gold (TSX-V:BYN, OTC:BYAGF) continues to be successful in expanding the Powerline Zone at its AurMac Project in the Yukon. This morning the company delivered one of the best intercepts drilled on the property to date with hole AX-21-88 intersecting 1.03 grams/tonne gold over 81.4 meters from 32.0 meters down-hole.
The Powerline Zone can be seen closer to the center of this plan map with all the purple dots indicating 2021 holes with assays pending:
The dimensions are beginning to get pretty large at Powerline, with this zone well on its way to overtaking the Airstrip Zone (775,000 ounce gold resource) in terms of total dimensions.
In addition, hole AX-21-79 intersected .50 grams/tonne gold over 76.2 meters from surface. Results at Powerline continue to demonstrate a widely mineralized near surface gold deposit with grades consistent (and even slightly better) with the May 2020 resource (129,000 ounces of gold at a .61 g/t Au average grade).
Grades and mineralized extent appear to be improving to the east and we should be getting more results from step-outs to the east over the next several weeks. Banyan will begin wrapping up drilling at Powerline in about two weeks, and the two drill rigs will be moved over to the Aurex Hill Area. Aurex Hill is a higher grade area of AurMac where Banyan’s diamond drilling and historic RAB drilling has intersected wide sections of 1+ g/t gold straight from surface.
Banyan has released assays from 16 holes out of the 46 holes (over 10,000 meters) completed so far in 2021 so news flow will be steady for months to come. The Banyan Gold story gets stronger with every passing month and I couldn’t be more bullish on this company at its still relatively modest valuation of roughly C$50 million.
Disclosure: Author owns BYN.V shares at the time of publishing and may choose to buy or sell at any time without notice.
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