BANYAN GOLD CORP. (“Banyan” or “The Company”) is pleased to announce the appointment of Ms. Tara Christie as President & Chief Executive Officer of the Company as well as the release of a new, updated National Instrument 43-101 Technical Report on the Hyland Gold Property authored by Rob Carne, P.Geo. and Allan Armitage, P.Geo.
Ms. Christie is an accomplished mining executive with more than 20 years of operational experience. She has managed a number of private and publicly listed mineral resource companies and served as a member of the Yukon Environmental and Socioeconomic Assessment Board. Ms. Christie completed her Bachelor’s and Master’s Degrees in Geotechnical Engineering and has spent most of her career working in the Yukon and on resource exploration and development projects in Northern Canada.
“Tara brings with her a unique blend of mining experience spanning from the pit face to the board room.” commented Mark Ayranto, Chairman. “As a Yukon resident and long-time director of Banyan, Tara is well suited to advance Banyan’s Hyland Gold Project and create real shareholder value.”
Ms. Christie stated, “ Banyan’s Hyland Gold Project represents an exciting opportunity for shareholders and the Company is poised to begin a 2016 field program following recommendations of the first phase of the newly released updated Technical Report”.
In his conclusion of the Hyland Technical Report Rob Carne noted, ‘The major zones of mineralization on the Hyland Gold Property are aligned along the Quartz Lake Lineament, a greater than 18 km long zone of faulting, folding and brecciation that has been the locus of a variety of styles of gold mineralization. The vertically and horizontally extensive areas of known gold mineralization, in conjunction with other less well explored areas of strongly anomalous gold and pathfinder element response, are testament to a strong causative hydrothermal system that gave rise to a district-scale area with high exploration potential for a variety of sediment-hosted gold exploration targets types such as the Marigold Mine in the Battle Mountain-Eureka Trend of north-central Nevada and the Rau Trend of central Yukon.’
The Technical Report will be filed on SEDAR as well as made available on the Company website.
The Company also has proposed to issue 700,000 shares for services completed subject to TSX Venture approval and customary hold periods and has issued 500,000 stock options at $0.065 per share to an officer of the Company. They are exercisable for a period of 5 years.
This News Release has been reviewed and approved by Paul D. Gray, B.Sc., P.Geo., Vice President Exploration for Banyan Gold, the Qualified Person as defined by NI 43-101.
About Banyan Gold
Banyan is a gold exploration and development company whose flagship property, the Hyland Gold Project,
is located 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.
Banyan 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"
Mark Ayranto Chairman
For more information, please contact:
Mark Ayranto Tara Christie
Tel: (604) 648-8450 Tel: (778) 928-0556
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.