Banyan Gold Corp. announced the analytical results from thirteen (13) diamond drill holes from the Powerline deposit located on the Company's AurMac Project, Yukon Territory. These holes were drilled in an area of the southern portion of the Powerline Deposit which had only been tested to approximately 100 metres ("m") depth during previous exploration efforts. The 2023 drill holes averaged 235 m and were able to demonstrate additive gold
mineralization within these previously untested areas. The Powerline gold deposit is contained within a metasedimentary package consisting of predominately schists, quartzites and limestones of the Late Proterozoic to Cambrian Hyland Group. Gold mineralization here is chiefly associated with low angle quartz-sulfosalt-arsenopyrite veins seen crosscutting all lithologies and is interpreted to be associated with a large intrusion related gold system typical of the Tombstone Gold Belt and Selwyn Basin gold deposits. Banyan initiated its 2023 exploration program on March 1, 2023. One-hundred-seven (107) drill holes and 24,722 m of drilling has been completed to date which together closed the gap between the Powerline and Aurex Hill deposits and will extend and demonstrate the extent of the Aurex Hill Zone to the east. Assay results from 69 drill holes are pending. Drill core processing will wrap up on site this week with all drill core samples shipped to the lab. Processing and logging of core on site was delayed by various factors, including nearby forest fires and closed highway access. All drill core splits reported in this news release were analysed by MSA Canada of Langley, BC utilizing the aqua regia digestion ICP-MS 39-element IMS-116 analytical package with FAS-121 50-gram Fire Assay with AAS finish for gold on all samples. All core samples were split on-site at
Banyan's core processing facilities. Once split, half samples were placed back in the core boxes with the other half of split samples sealed in poly bags with one part of a three-part sample tag inserted within. Samples were prepped by MSA personnel on site and then shipped to MSA Analytical laboratory in Langley, BC for pulverization and final chemical analysis. A robust system of standards, ¼ core duplicates and blanks was implemented in the 2023 exploration drilling program and was monitored as chemical assay data became available.