BANYAN GOLD CORP. (“Banyan Gold”) is pleased to announce the 2015 Hyland Gold Project exploration program has been successfully completed. Importantly, Banyan has validated the theory a deep-seated, replacement style mineralization model exists on the growing Hyland Gold Project. The 2015 Hyland diamond drilling targeted the “Camp Zone” an under-explored area approximately 500 metres north of the Main Zone, which hosts Hyland’s maiden resource of approximately 400,000 AuEq ounces. This lower elevation target has been interpreted to host replacement style, precious and base-metal mineralization, which would reaffirm the Hyland Gold Project represents a District-Scale mineralized system, akin to Atac’s Rackla Belt both of which are hosted within the prolific Selwyn Basin. Analytical results remain pending, but highlights of the 2015 drilling include massive sulphide, pervasive aresenopytie and native copper with galena mineralization intersections from the Camp Zone.
The 2015 exploration program was designed to drill test a deep-seated, limestone-replacement style and listric fault related gold mineralization model theorized to exist on the Hyland Gold Project. Drill testing of this mineralization concept was designed to 1) intercept the lower limestone unit of the Hyland Group Formation metasedimentary package and 2) to drill through a postulated fault splay within the north-south oriented Quartz Lake Corridor which is interpreted to represent a large-scale, structural control to gold- silver mineralization. By testing these targets, Banyan anticipates highlighting the under-tested regional mineralization potential of the Hyland Gold Project and highlights the fact that substantive mineral potential exists beyond the Main Zone. The Hyland Gold Project 2015 Mineral exploration program was completed during August 2015 and consisted of 739.85 metres of HQ and ND diamond drilling over three (3) drillholes in the rapidly developing Camp Zone.
Co-incident with the diamond drilling program, Banyan’s 2013/2014 Montrose Ridge discovery, 6.5 km south of the Main Zone, was the focus of a systematic surface sampling and trenching program designed to define drill targets to continue to test the District-Scale mineral potential of the Hyland Gold Project. Over 3.5 km of access trail construction was completed during the 2015 Montrose Ridge Zone program culminating in approximately 1 km of surface trench construction and sampling. This trenching operation is the first time heavy machinery and vehicular access to Montrose Ridge has been possible, and afforded an exceptional opportunity to expose bedrock and sub-crop within the broad Au-As-in-soils-anomaly previously defined at Montrose Ridge. Trenching of the Montrose Ridge Zone was highly encouraging, with heavily alteration and sulphide (arsenopyrite, bismuithinite and pyrite) mineralization identified from a fault-hosted structural zone within a previously un-mapped member of the hosting Hyland Group, the Yusezyu Conglomerate, on the Hyland Gold Property.
“The speed, efficiency and low cost in which the Banyan team was able to conduct the 2015 exploration program was very impressive”, commented Mark Ayranto, Chairman. “Since acquiring the Hyland Project, Banyan has postulated a replacement style mineralization model which we have now confirmed. More recently, through 2014, Banyan realized the potential for regional-scale mineralization along the Quartz Lake Corridor and the 2015 exploration program lends significant credibility to this model. ”
The work conducted at the Montrose Ridge Zone is supported in part by the Yukon Mineral Exploration Program ("YMEP), whereby the Yukon Government will fund up to approximately $40,000 of the exploration program on the Hyland Gold South Project.
In total, 327 diamond drill samples and 193 trench samples were collected during the 2015 program and sent for chemical analyzes at Bureau Veritas Commodities Canada Ltd. (formerly ACME Analytical Laboratories), results will be released as soon as they have been made available.
This News Release has been reviewed and approved by Paul D. Gray, B.Sc., P.Geo., Vice President Exploration for Banyan Gold, is the 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 70km 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) "Mark Ayranto"
President and Chief Executive Officer
For more information, please contact:
Tel: (604) 648-8450
Email: [email protected]
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