WASHINGTON, July 16, 2024 (GLOBE NEWSWIRE) -- Banyan Gold Corp. (the "Company" or "Banyan") (TSXV: BYN) (OTCQB: BYAGF) based in Vancouver, BC, Canada, focused on gold exploration at its AurMac Project (“AurMac”), located in the Mayo Mining District, Yukon, today announced that Tara Christie, President and CEO, will present live at the Battery & Precious Metals Virtual Investor Conference hosted by VirtualInvestorConferences.com on July 23, 2024.
DATE: July 23, 2024
TIME: 2:00 PM ET
LINK: https://bit.ly/3W9aqkd
Available for 1x1 meetings: July 23 – 26, 2024
This will be a live, interactive online event where investors are invited to ask the Company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.
It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.
Learn more about the event at www.virtualinvestorconferences.com.
Company Highlights
- RESOURCE: 7 million (“M”) Oz. Gold
- STRENGTH: $18M Treasury & experienced management. 20,000 meters of strategic drilling, metallurgy, scoping studies and baseline environmental program underway for 2024
- ROOM TO RE-RATE: compelling valuation ~ $9.8/ounce
- EXISTING INFRASTRUCTURE: Roads, Hydro Power
About Banyan
Banyan's primary asset, the AurMac Project is located in Canada’s Yukon Territory. The current inferred Mineral Resource Estimate (“MRE”) for the AurMac Project of 7.0 million ounces has an effective date of February 6, 2024.
The 173 square kilometres (“sq km”) AurMac Project lies 40 km from Mayo, Yukon. The AurMac Project is transected by the main Yukon highway and benefits from a 3-phase powerline, existing power station and cell phone coverage. Banyan has the right to earn up to a 100% interest, in both the Aurex and McQuesten Properties respectively, subject to certain royalties.
The inferred MRE for the AurMac Project was prepared on February 6, 2024, and consisted of 7,003,000 ounces of gold (see Table 1) hosted within near surface, road accessible pit constrained Mineral Resources contained in two near/on-surface deposits: the Airstrip and Powerline Deposits.
Table 1: Pit-Constrained Inferred Mineral Resources – AurMac Project(1)(2)(3)(4)(5)
| Deposit | Gold Cut-Off g/t | Tonnage Tonnes | Average Gold Grade g/t | Gold Content oz. |
| Inferred | ||||
| Airstrip | 0.30 | 35,243,000 | 0.75 | 845,000 |
| Powerline1 | 0.30 | 312,243,000 | 0.61 | 6,158,000 |
| Combined Inferred | 0.30 | 347,486,000 | 0.63 | 7,003,000 |
Notes to Table 1:
- The effective date for the MRE is February 6, 2024 and was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., an independent Qualified Person in accordance with the requirements of NI 43-101. The technical report supporting the Resource Estimate entitled “AurMac Property, Mayo Mining District, Yukon Territory, Canada” (the “Technical Report”) has been filed on SEDAR at www.sedarplus.ca on March 18, 2024.
- Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, changes in global gold markets or other relevant issues.
- The CIM Definition Standards were followed for classification of Mineral Resources. The quantity and grade of reported Inferred Mineral Resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred Mineral Resources as an Indicated Mineral Resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured Mineral Resource category.
- Mineral Resources are reported at a cut-off grade of 0.30 g/t gold for all deposits, using a US$/CAN$ exchange rate of 0.75 and constrained within an open pit shell optimized with the Lerchs-Grossman algorithm to constrain the Mineral Resources with the following estimated parameters: gold price of US$1,800/ounce, US$2.50/t mining cost, US$5.50/t processing cost, US$2.00/t G+A, 80% gold recoveries, and 45° pit slopes.
- The number of tonnes and ounces was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations as per NI 43-101.
Detailed images of the Mineral Resource model, including an interactive 3D model and additional information can be found at: https://www.banyangold.com/projects/aurmac/
In addition to the AurMac Project, the Company holds the Hyland Gold Project, located 70 km Northeast of Watson Lake, Yukon, along the Southeast end of the Tintina Gold Belt (the “Hyland Project”). The Hyland Project represents a sediment hosted, structurally controlled, intrusion related gold deposit, within a large land package (over 125 sq km), accessible by a network of existing gravel access roads.
Banyan trades on the TSX-Venture Exchange under the symbol “BYN” and is quoted on the OTCQB Venture Market under the symbol “BYAGF”. For more information, please visit the corporate website at www.BanyanGold.com or contact the Company.
About Virtual Investor Conferences®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
BANYAN CONTACTS:
Tara Christie • President & CEO • 778 928 0556 • tchristie@banyangold.com
Jasmine Sangria • VP Corporate Communication • 604 312 5610 • jsangria@banyangold.com
Virtual Investor Conferences
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com
