Banyan Gold Slows Exploration Activity Amid Wildfires, Victoria Gold Incident
Banyan Gold (TSXV: BYN) is the latest operator in the Yukon to disclose that it has reduced its exploration activities following the incident at Victoria Gold.
Banyan indicated this morning that it has slowed drilling and exploration activities over the last month, which is related to a general request by the First Nation of Na-Cho Nyak Dun, whom asked mining companies to halt activity while it responds to the incident at Victoria Gold.
The company however also indicated that the slowing of exploration is related to ongoing wildfires in the area, with the firm taking proactive measures to protect site infrastructure. The firm has allowed local firefighters to make use of its bulldozers and water trucks for firefighting operations in an effort to assist the local community.
READ: Victoria Gold Mine Collapse Causes Pause In Mining And Exploration In Entire Region
Despite the delays, Banyan has said it expects to complete its planned 20,000 metre drill program by the end of November, with further drilling and technical work already funded for 2025. To date, 6,300 metres of drilling has been completed with two drills, with a third drill sitting on site unused presently.
Banyan Gold last traded at $0.165 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
