Banyan Announces Closing of Accelerated 100% Earn-In at the AurMac Project, Yukon, Canada
Rhea-AI Summary
Banyan Gold Corp. (OTCQB:BYAGF) has successfully completed the accelerated 100% earn-in agreement for the AurMac Project in Yukon, Canada. The company acquired the remaining 25% interest in the McQuesten and Aurex properties, ahead of the original 2025-2026 timeline. The project hosts a significant gold resource of 2.274 million ounces (Indicated) at 0.63 g/t and 5.453 million ounces (Inferred) at 0.60 g/t.
Following this transaction, Banyan plans to expand its 2025 drill program to over 40,000 metres and will incorporate the results into a PEA for 2026. The 291.8 sq km AurMac Project is strategically located 40 km from Mayo, Yukon, with existing infrastructure including highway access, 3-phase powerline, and cell coverage.
Positive
- Accelerated acquisition of remaining 25% interest in AurMac Project ahead of schedule
- Substantial gold resource with 2.274M oz Indicated and 5.453M oz Inferred
- Expansion of 2025 drill program to over 40,000 metres
- Strategic location with existing infrastructure including highway and power access
- Removal of strict PEA timeline constraints allowing for more comprehensive planning
Negative
- Additional capital requirements for expanded drilling program
- Preliminary nature of metallurgical test results
- Political and jurisdictional risks in Yukon Territory
News Market Reaction
On the day this news was published, BYAGF gained 1.40%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, BC / ACCESS Newswire / September 18, 2025 / Banyan Gold Corp. (the "Company" or "Banyan") (TSX-V:BYN)(OTCQB:BYAGF) is pleased to announce it has closed the
"With this closing, the strict timeline to complete the PEA is removed. Banyan will now be able to incorporate the results of our strategically targeted 2025 drilling into a PEA for 2026," stated Tara Christie, President and CEO." Banyan will now also upsize our 2025 drill program to over 40,000 metres."
AurMac hosts a gold Resource of 2.274 million ounces of gold ("Au") (112.5 M tonnes at 0.63 g/t) and an Inferred Mineral Resource of 5.453 M oz of Au (280.6 M tonnes at 0.60 g/t )(see Table 1 below).
Upon closing of the Transaction, Banyan now owns
Qualified Persons
Duncan Mackay, M.Sc., P.Geo., is a "Qualified Person" as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101"), and has reviewed and approved the content of this news release in respect of all disclosure other than the MRE. Mr. Mackay is Vice President Exploration for Banyan and has verified the data disclosed in this news release, including the sampling, analytical and test data underlying the information.
Upcoming Events
GCFF Annual Wealth Conference, Vancouver, September 20, 2025
Corporate Presentation: September 20 at 9:40 AM PDT
Shareholder Virtual Update - Rule Symposium Attendees Exclusive - October 1, 2025 at 11:00 AM PDT
121 Mining Investment Hong Kong, September 24-25, 2025
121 Mining Investment Global Online, October 14-15, 2025
About Banyan
Banyan's primary asset, the AurMac Project is located in the Traditional Territory of First Nation of Na-Cho Nyäk Dun, in Canada's Yukon Territory. The current Mineral Resource Estimate ("MRE") for the AurMac Project has an effective date of June 28, 2025 and comprises an Indicated Mineral Resource of 2.274 million ounces of gold ("Au") (112.5 M tonnes at 0.63 g/t) and an Inferred Mineral Resource of 5.453 M oz of Au (280.6 M tonnes at 0.60 g/t ) (as defined in the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards for Mineral Resources & Mineral Reserves incorporated by reference into NI 43‑101). The 291.8 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.
Table 1: Pit-Constrained Indicated and Inferred Mineral Resources - AurMac Project
Indicated MRE | Inferred MRE | ||||||
Deposit | Au Cut-Off Grade (g/t) | Tonnage (M Tonnes) | Gold Grade (g/t) | Gold Content (M Oz) | Tonnage (M Tonnes) | Gold Grade (g/t) | Gold Content (M oz) |
Airstrip | 0.30 | 27.7 | 0.69 | 0.611 | 10.1 | 0.75 | 0.245 |
Powerline | 0.30 | 84.8 | 0.61 | 1.663 | 270.4 | 0.60 | 5.208 |
Total Combined | 0.30 | 112.5 | 0.63 | 2.274 | 280.6 | 0.60 | 5.453 |
Notes to Table 1:
The effective date for the MRE is June 28, 2025 and was prepared by Marc Jutras, P.Eng., M.A.Sc., Principal, Ginto Consulting Inc., an independent "Qualified Person" within the meaning of NI 43-101.
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.
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 0.73 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
$2,050 /ounce, US$2.50 /t mining cost, US$10.00 /t processing cost, US$2.00 /t G+A,90% gold recoveries, and 45° pit slopes.1The number of tonnes and ounces was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects.
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 or contact the Company.
ON BEHALF OF BANYAN GOLD CORPORATION
(signed) "Tara Christie"
Tara Christie
President & CEO
For more information, please contact:
Tara Christie • 778 928 0556 • tchristie@banyangold.com
Jasmine Sangria • 604 312 5610 • jsangria@banyangold.com
CAUTIONARY STATEMENT: Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) nor OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
FORWARD LOOKING INFORMATION: This news release contains forward-looking information, which is not comprised of historical facts and is based upon the Company's current internal expectations, estimates, projections, assumptions and beliefs. Such information can generally be identified by the use of forwarding-looking wording such as "may", "will", "expect", "estimate", "anticipate", "intend(s)", "believe", "potential" and "continue" or the negative thereof or similar variations. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, mineral resource estimates; mineral recoveries and anticipated mining costs. Factors that could cause actual results to differ materially from such forward-looking information include uncertainties inherent in resource estimates, continuity and extent of mineralization, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, and the other risks involved in the mineral exploration and development industry, enhanced risks inherent to conducting business in any jurisdiction, and those risks set out in Banyan's public documents filed on SEDAR. Although Banyan believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Banyan disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
1 The gold price and cost assumptions are consistent with current pricing assumptions and costs and, in particular, with those employed for recent technical reports for similar pit-constrained Yukon gold projects.
SOURCE: Banyan Gold Corp.
View the original press release on ACCESS Newswire
FAQ
What is the total gold resource at Banyan Gold's (BYAGF) AurMac Project?
How much of the AurMac Project does Banyan Gold now own after the recent transaction?
What are Banyan Gold's (BYAGF) exploration plans for 2025-2026?
Where is the AurMac Project located and what infrastructure is available?
What is the current gold cut-off grade used for the AurMac resource estimate?
