BANYAN GOLD CORP. (“Banyan Gold”) is pleased to announce that it has commenced an exploration program on its Hyland Gold Property, Yukon, Canada.
The program is focused on the southern extension of the Hyland Gold Project to test promising historic results from 2011. The program is designed to identify additional drill targets south of the Main Zone which hosts a maiden NI 43- 101 Inferred Resource of 396,000 gold equivalent ounces and remains open along strike and at depth. The 2013 exploration program includes detailed soil sampling, geological mapping and rock sampling over five identified high- priority targets.
Banyan is further pleased to announce the 2013 Hyland exploration program has been approved for funding under the Yukon Mining Incentives Program ("YMIP"). Through YMIP, the Yukon Government will fund up to 50% of the planned $70,000 exploration program. “Following the acquisition of Hyland earlier this year we are very pleased to receive YMIP funding to support our 2013 exploration program” stated Richmond Graham, President and CEO. “We have planned for and are optimistic these results will identify new high quality drill targets to compliment step-out resource drilling planned for the Main Zone next year”.
This News Release has been reviewed and approved by Paul D. Gray, B.Sc., P.Geo., the Hyland Gold Qualified Person as defined by NI 43-101.
About Banyan Gold
Banyan Gold is a gold exploration and development company whose flagship property, the Hyland Gold Project (“Hyland”), is approximately 70 km NE of Watson Lake, Yukon, along the southeast end of the Tintina Gold Belt. The Main Zone gold Inferred Resource, at a 0.6 g/t gold equivalent ("AuEq") cutoff, hosts a NI 43-101 compliant Resource of 12,503,994 tonnes containing 361,692 ounces gold at 0.9 g/t and 2,248,948 ounces silver at 5.59 g/t for a combined gold and silver 396,468 ounces gold equivalent. Based on the success of previous exploration and numerous untested drill ready targets Banyan Gold management foresees potential for a significant regional exploration at Hyland.
Banyan Gold trades on the TSX-Venture Exchange under the symbol “BYN”. For more information please visit the corporate website at www.banyangold.com or contact Banyan Gold.
ON BEHALF OF THE BANYAN GOLD BOARD OF DIRECTORS
(signed) "Richmond Graham"
President and Chief Executive Officer
For more information, please contact:
Tel: (604) 648-8450
Email: [email protected]
The TSX Venture Exchange (the “Exchange) has neither approved nor disapproved the contents of this press release. Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Statements in this news release regarding Banyan Gold which are not historical facts are “forward-looking statements” that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations.