According to Mining.com, Banyan Gold Corp.'s updated resource estimate for the Hyland project in southeastern Yukon, Canada, helps the company maintain its position as the third-largest project in the region by gold content.
The company's announcement on Monday showed that the updated indicated ore resource is 11.3 million mt grading 0.93 g/mt gold and 7.27 g/mt silver, equivalent to 337,000 ounces of gold and 2.63 million ounces of silver. The inferred ore resource is 3.9 million mt grading 0.95 g/mt gold and 6.94 g/mt silver, equivalent to 118,000 ounces of gold and 860,000 ounces of silver. The Hyland project is located 450 km southeast of Whitehorse.
"The updated resource, which is limited to open-pit mining potential, demonstrates the promise of the Hyland gold-silver project," said Tara Christie, President and CEO of Banyan, in a news release. "With additional work, it is possible to delineate more resources in the main mineralized zone and discover new resources elsewhere on the property."
Third Largest in Yukon
Although Hyland is smaller than Banyan's flagship AurMac project, this update increases the company's total gold resources to 8.1 million ounces. This makes Banyan the third-largest in terms of total resources in Yukon, behind Western Copper & Gold's Casino project and Snowline Gold's Valley project.
The Hyland resource is hosted in a near-surface deposit, including sections such as Main, Camp, Cuz, and Montrose Ridge, with the entire gold-bearing zone extending over 11 km along strike.
Banyan stated that its gold mineralization occurs in interbedded phyllite and quartzite of the Precambrian Selwyn Basin, which has already yielded several gold discoveries.
18,505 Meters Drilled
This resource update is based on 18,505 meters of drilling from 86 holes, as well as 7,598 meters of trenching from 39 trenches.
Hyland is accessible by floatplane or via the winter road approximately 74 km northeast of Watson Lake.
