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Eagle Royalties Ltd. (CSE:ER.CN) or ("Eagle Royalties") has recently learned of encouraging drill hole intercepts in the Airstrip inferred resource area of Banyan Gold Corp.'s AurMac project in central Yukon (see Jan 29th BYN news release here). Eagle Royalties holds royalty interests of 2% or 1% (with no buy-down provision) on the entirety of the claims overlying the Airstrip resource area. See additional AurMac royalty information here
According to the recent announcement, Banyan has reported results for 9 of 25 holes which appear to be drilled within the Airstrip resource area, with 7 of the holes falling within the 2% NSR area, and 2 within the 1% NSR area. Highlighted reported results for the recently announced holes are as follows*:
Highlighted Airstrip Assay Results Relating to Eagle Royalties**:
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AX-24-597: 36.2 metres ("m") of 1.14 g/t Au from 20.8 m
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AX-24-598: 21.7 m of 1.35 g/t Au from 51.3 m
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AX-24-600: 23.4 m of 1.35 g/t Au from 36.7 m
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AX-24-602: 65.5 m of 0.53 g/t Au from surface (3.2 m)
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AX-24-604: 46.4 m of 1.31 g/t Au from 55.8 m
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AX-24-609: 68.1 m of 0.37 g/t Au from 38.9 m
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AX-24-612: 64.5 m of 0.36 g/t Au from 149.5 m
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AX-24-615: 62.5 m of 0.44 g/t Au from 133.4 m
*Complete analytical results can be found within the original Banyan news release here
**true widths are estimated to be approximately 90% of drilled intervals
See drill-hole locations here
The above technical information relating to drill collar location and analytical results have been taken directly from the Banyan Gold news release dated January 29th, 2025. More detailed drilling information, analytical procedures and results are available in the full news release issued by Banyan. Eagle Royalties management believes that although the reported true thickness estimates and drill collar location coordinates are accurate, it cautions that ER does not have detailed geological data or final surveyed locations of the drill hole traces in relation to the claims that are underlain by the ER royalty interests.
As reported by Banyan, the company initiated its 2024 exploration program on June 1 2024, and has completed 118 drill-holes and over 21,000 m of drilling within the Powerline and Airstrip deposit areas. Drilling was reportedly completed in mid-October and to date, Banyan has released results for 85 of the drill holes. Results are pending for an additional 16 drillholes within the boundaries of the ER 2% NSR at the Airstrip resource area.
On September 16th 2024 Banyan reported test recoveries of 93% in samples at Powerline and 90% at Airstrip using multiple conventional mill processing options including gravity recovery in combination with Carbon in Leach ("CIL")/Carbon in Pulp ("CIP") processes, and that work is ongoing for flotation-leach (see complete BYN news release here).