Banyan Gold (TSXV: BYN) this morning released an updated mineral resource estimate for their flagship AurMac Project in Canada’s Yukon. The estimate notably included the first indicated ounces for the company.
Highlights from the estimate include:
- Indicated Resources: 112.5 million tonnes at 0.63 g/t gold
- Containing 2,274,000 ounces of gold
- inferred Resources: 280.6 million tonnes at 0.60 g/t gold
- Containing 5,453,000 ounces of gold
Resources here are spread across two zones, the Airstrip and Powerline zones, with the estimate using a cut-off grade of 0.30 g/t gold within pit-constrained resources. The estimate is said to be based on 1,043 drill holes for the Powerline deposit, and a further 151 drill holes for the Airstrip deposit.
“This update achieved the primary objectives of last year’s program, which were to convert over 2 million ounces into Indicated Mineral Resources with a refined geological model and importantly identify near surface, high-grade areas,” commented Tara Christie, CEO of Banyan Gold.
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Banyan Gold last traded at $0.26 on the TSX Venture.
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