Exploration company provides project portfolio update | 2024-04-25 | Investing News
The following is a transcription of the above video, and The Market Online has edited it for clarity.
Banyan Gold Corp. (TSXV:BYN) is focused on exploration and advancing and de-risking its 7-million-ounce AurMac Gold Project in the Yukon, Canada’s newest and rapidly growing mining district.
We sat down with Banyan Gold President and CEO Tara Christie, who shared more information about the company and its recent activity.
TMO: Tara, last time you spoke with us, you discussed your recent 7-million-ounce gold resource update. Can you tell us a little bit more about the size and scale of that project?
Christie: We are really impressed with the scale of this deposit. It’s an intrusion related deposit – we are actually in the meta sediment around the intrusion and we have 7 million ounces, that’s five kilometers of strike length.
It’s quite a remarkable deposit, the grade is 0.63 for that 7 million ounces and we can see the potential for this to grow to 8 (million) to 10 million ounces; so lots of room for it to grow.
What’s also exciting is when you look at the cutoff grade at a 0.9, you can see that within it there are 2.4 million ounces at almost 1.5 grams per ton. There’s lots more to come and it’s pretty exciting.
TMO: What sets you apart from other gold exploration projects in the Tombstone Gold belt district?
Christie: Tombstone Gold Belt is really exciting because of how many new discoveries that are being made and our project has this major advantage of having infrastructure. We have roads, hydropower on the property, even cell phone service. We have two permitted mines right beside us, which is a huge, huge advantage.
As these districts and belts are formed and we see them developed around the world, Canada, Red Lake, Golden Triangle, you make a discovery where there is infrastructure and when the first mines are built, that’s where the development really begins and that sets us apart from all the other discoveries in the belt.
TMO: This question probably comes up a lot in exploration, but have you seen any visible gold in your core?
Christie: One of the hallmarks of these intrusion related deposits is we see tons of visible gold. If you look, we did a map and we thought, oh, we’ll show everybody a map with all the visible gold and there were so many stars on it.
Your loggers actually get bored of seeing visible gold, it’s like, “Oh yeah, more vg.” That’s such problems to have, but that’s one of the hallmarks and I find it exciting.
TMO: I see your metallurgical testing yielded high gold recoveries with potential for multiple flow sheets. Would you like to elaborate on what this means for the layman person?
Christie: Well, with the layman and shareholders, you have optionality, which is always good. It means that we have process options to recover this gold, which means we have a broader potential number of suitors out there, or JV partners or options for us to build it depending on what the capital markets have.
These different process options have different recoveries, but also different capital costs and I think in this gold market where there are so many companies that have different expertise looking for new resources – that puts us in a pretty good position with high recoveries, 91 per cent, 53 per cent from gravity. Those are really exceptional numbers for your first pass metallurgy.
TMO: what does the rest of the year look like for Banyan Gold?
Christie: Well, we’re continuing to do some technical work. Lots more metallurgy. You keep doing metallurgy until the day you produce gold at a mining project.
Really understanding, doing the engineering and some internal scoping work to understand how we can focus our work and then geology, continuing to figure out what causes the deposit, where the sources of the mineralization might be. It’s actually pretty exciting and we’re getting some new ideas both structurally and geologically. Lots more to come this year. We’ll have lots of news flow.
You can find Banyan Gold Corp. on the Venture Exchange under the symbol BYN or head to its website at banyangold.com for more information.
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