BANYAN GOLD CORP. (“Banyan” or the “Company”) is pleased to announce Oxide recovery results from detailed metallurgical test work completed as part of the 2017 Hyland Gold Project Main Zone exploration program.
Banyan engaged Kappes Cassidy & Associates of Reno, NV ('KCA') to conduct detailed metallurgical test work on samples collected from dedicated metallurgical drill holes; HY17-073 and HY17-074. Initial test work included 96-hour bottle roll tests on 3 composite oxide and 3 composite sulphide samples. Gold recoveries averaged 83.3% on the three oxide samples at a P80 0.15mm crush size.
“Recoveries exceeded our expectations”, said Tara Christie, President and CEO. “Recovery test work will continue with additional work that includes column leach tests”.
Banyan will be giving a technical presentation on the “Hyland Gold Project” at the GAC Cordilleran Section “Exploration Series” at 8:20 am on Tuesday January 9th, 2018 at the Discovery Center, Geological Survey of Canada 1500-605 Robson Street. Project Geologist Leif Bjornson, M.Sc., P.Geo. will be presenting.
Banyan will also have a booth at the Vancouver Resource Investment Conference on January 21-22, 2018 (Booth 312) and at the Core Shack at the AMEBC Roundup on January 23-24, 2018 (Booth 720).
The technical information in this news release has been reviewed and approved by Paul D. Gray, P. Geo., a Qualified Person as defined by NI 43-101.
Chain of custody
Three oxide samples from diamond drill holes HY17-073 and HY17-074 from the 2017 Hyland Gold Project exploration program were sent for metallurgical testing by Kappes Cassidy & Associates of Reno, NV ('KCA'). Drill core samples were collected and sealed in poly bags at Banyan’s core processing facilities at the Hyland Gold Project. All these samples were delivered by Banyan personnel or a dedicated expediter and shipped directly to KCA in Reno, NV.
About Banyan Gold
Banyan is a growth stage gold exploration company whose flagship property, the Hyland Gold Project, is approximately 70km NE of Watson Lake, Yukon, along the southeast end of the Tintina Gold Belt.
The Hyland Main Zone Inferred Gold Resource Estimate, prepared in accordance with NI 43-101, at a 0.6g/t gold equivalent cutoff, contains 12,503,994 tonnes with 361,692 ounces gold at 0.9g/t and 2,248,948 ounces silver at 5.59g/t for a combined gold and silver 396,468 ounces gold equivalent at 0.99 g/t.
The 9,230 ha Aurex-McQuesten Property, in close proximity to Victoria Gold's Eagle Project and Alexco Resource's Keno Hill Silver District, is highly perspective for structurally controlled, intrusion related gold-silver mineralization in relation to quartz monzonite dykes of the Tombstone intrusive suite.
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 the Company.
ON BEHALF OF BANYAN GOLD CORPORATION
(signed) "Tara Christie"
President & CEO
For more information, please contact:
Tara Christie David Rutt
Tel: (888) 629-0444 Tel: (888) 629-0444
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CAUTIONARY STATEMENT: The TSX Venture Exchange does not accept 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. This news release contains forward-looking information, which is not comprised of historical facts. 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, Banyan’s objectives, goals or future plans, statements regarding exploration expectations, exploration or development plans and the timing of negotiating the definitive agreements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, uncertainties inherent to preparing a resource estimate within expected timeline, 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, delays in the development of projects 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. Paul D. Gray of Banyan Gold Corp. is a “qualified person” within the meaning of such term as set forth in National Instrument 43-101 of the Canadian Securities Administrators, and has verified and supervised the preparation of all of the scientific and technical information contained in this news release.
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.