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Banyan increases indicated gold resource tonnage at Hyland's Main Zone by 100%

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Banyan increases indicated gold resource tonnage at Hyland's Main Zone by 100%

Banyan Gold Corp. on March 22 announced an updated resource estimate for the Main Zone of its Hyland gold project in Canada's Yukon Territory showing a 100% increase in tonnage in the indicated category as well as a 15% rise in inferred resources.

Exploration activities on the property, particularly drilling, allowed the company to increase and improve the estimate on the zone, which now hosts indicated resources of 8.6 million tonnes at 0.85 g/t of gold equivalent for 236,000 ounces of gold equivalent.

Inferred resources, meanwhile, total 10.8 million tonnes at 0.83 g/t of gold equivalent for 288,000 ounces gold equivalent. Both categories were estimated at a 0.3 g/t of gold equivalent cutoff.

In addition, Banyan said that recently released leaching kinetics demonstrated that the zone is potentially amenable to an open pit, heap leach style processing method.

The company secured a 10-year land use permit for Hyland in May 2017.