Hyland Gold Project


Mr Paul Dgray

The Hyland Gold Project, owned by Banyan Gold Corp., is located in the southeast Yukon 74 kilometres northeast of the town of Watson Lake, Yukon. The Hyland Main Zone Inferred Gold Resource, prepared in accordance with NI 43-101, at a 0.6g/t gold equivalent ("AuEq") 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 AuEq at 0.99g/t. The Project is in the southeastern Selwyn Basin, a Late Precambrian to Middle Devonian tectonic element characterized by deposition of deep water marine sediments. The area is underlain by metasedimentary lithologies of the Yusezyu, Narchilla, and Vampire Formations of the Precambrian Hyland Group as well as Lower to Middle Cambrian Sekwi Formation, Cambrian to Ordovician Otter Creek and Rabbitkettle Formations, Ordovician Sunblood Formation, Silurian to Devonian Road River Group and undivided, time-equivalent Nonda-Muncho-McConnell-Stone-Dunedin Formation. The older sedimentary rocks were intruded by Cretaceous granite, quartz monzonite and granodiorite plugs assigned to the Selwyn Plutonic Suite. Collectively, they record a quiescent, subsiding continental margin punctuated by transgressive and regressive cycles, rifting, collision of allochthonous terranes, mountain building and magmatism. The deposit is interpreted as a sediment hosted, structurally controlled gold mineralization target, folded about a north-south trending antiform overlain by massive limestone to the east and west. Mineralization coincides with the antiformal axis and appears to be the major control of mineralization. The main zones of mineralization on the project are aligned along a major north-south trending structural lineament referred to as the Quartz Lake Corridor, an 18 km long zone of faulting, folding and brecciation that controls a variety of styles of gold+/-silver mineralization. Exploration on the project to date has tested approximately 11km of the 18 km trend, and includes the Camp, Main, Cuz and the Montrose Ridge Zones.