Shares of Banyan Gold Corp. (OTCMKTS:BYAGF) (TSXV:BYN) have been moving in a narrow range over the past month.
2022 Aurmac Drill Program by Banyan Gold has Officially Commenced
Banyan Gold Corp. (OTCMKTS:BYAGF) (TSXV:BYN) has commenced its 2022 exploration program at the AurMac Property, situated in the Mayo Mining District, Yukon, Canada. The main objective of the drill program spanning 30,000 m is to continue expanding the Powerline Deposit and advance the Aurex Hill Zone.
Back in 2021, a near/on-surface zone of gold trend was detected after step-out drilling to the east and west of the Powerline resource. It is interpreted to have grade continuity over 1.2 km of strike length. A part of this zone has been drilled at 25 m centers in a 200 m x 200 m area to test the continuity along strike and down dip.
As of now results are pending for these holes. Gold mineralization at Powerline and Aurex Hill is interpreted to be hosted in a sub-horizontal quartz vein system that dips approximately 15 degrees to the NNW. The vein system is hosted in a siliceous package of rocks that can be traced for around 16 km within the AurMac property boundaries.
The 2022 drill program will mostly focus on testing the trend to the east and west of the Powerline resource. It is also set to refine structural controls on the vein hosted gold within this package of resistive rocks and use this to improve drill targets.
Key Quote
“Exploration at the AurMac Property has now resumed with three diamond drill rigs on the AurMac Property. The initial focus is the expansion of the Powerline Deposit and, late summer, on the Aurex Hill target”, Tara Christie, President & CEO of Banyan stated. “We continue to receive assay results from our 2021 drill program which concluded in late December and expect to receive those through April. We are excited with our planned 30,000 m drill program for 2022 all of which will target to add ounces at AurMac.”
Traders Review
BYAGF stock is trading above the 50-Day and 100-Day Moving averages of $0.2594 and $0.2457 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.2340.
