Resource World Magazine

d e c e m b e r / j a n u a r y 2 0 1 6 www.resourceworld.com 35 to process. Reynolds said with such a huge land position the company is open to a possible joint venture. Northern Freegold has no debts or liabilities. In 2012, Banyan Gold Corp. [BYN – TSXV] became the Yukon's newest explo- ration company when it acquired the Hyland Gold Project in southeast Yukon. Banyan purchased the advanced gold Project which came with a NI 43-103 com- pliant 400,000-ounce gold resource, for approximately $1.00 per ounce gold. Mark Ayranto, Chairman of Banyan Gold and past President of the Yukon Chamber of Mines, says the project has the three "P's" going for it: People, Project and Position and the company is positioning itself to fully benefit as market conditions improve. Mr. Ayranto explained that the 100%-owned property has regional gold mineralization potential and is strikingly similar to ATAC Resources Ltd.'s Rackla Project. Hyland Gold is on the same geo- logical trend, has equivalent pathfinder minerals, and is hosted within identical lithological packages (age and rock types), moreover the identified gold resource is mineralized to surface and comprised of approximately 60% oxidized material. As such, Banyan applies a Carlin-Type exploration deposit model to the Property, akin to ATAC's aggressive gold exploration campaigns. To date, Banyan has explored about 6 km of a >16 km long mineralized trend. Ayranto says that he expects further exploration to identify additional tar- gets as this type of deposit occurs, "like a Also in reCent yukon explorAtion news Kaminak Gold Corp. [KAM-TSXV] reported on September 23, an updated indi- cated resource estimate, for their Coffee Project, of over 52 million tonnes grading at 1.68 g/t gold, over three times the 2014 estimate of >14 million tonnes at 1.56 g/t gold. The new estimate represents an 8% increase in the resource grade for indi- cated resources and a 12% increase in resource grade for inferred resources. On October 30, Kaminak reported that it had closed its previously announced non-brokered private placement of 27,439,024 shares at price of $0.82 per unit for gross proceeds of CDN $22,500,000. Eira Thomas, Kaminak President and CEO, commented, "Kaminak is very pleased to be welcoming Electrum as a significant new shareholder in conjunction with a financing that renews and builds upon the support of our existing strong shareholder base. These funds ensure that our Coffee Gold Project stays on the fast track right through to construction, targeted for 2018, in support of Kaminak's larger goal of becoming a Yukon gold producer by 2019." The company reported that the feasibility study is on schedule and budget and expected to be complete Q1, 2016. Goldstrike resources Ltd. [GSR-TSXV] continues to explore its flagship Plateau Project in southern Yukon. On September 13, 2011, Goldstrike reported positive results from geochemical sampling on the Plateau Project. Assays returned up to 1.544 g/t gold in soils and up to 1.292 g/t gold in rocks. Since the 2011 discovery, Goldstrike has confirmed a new district scale gold system (the Yellow Giant Trend) with multiple high-grade gold showings (rock grab samples up to 18.66 oz/ton) exposed along the Hess River valley over a strike length of more than 25 km and a vertical extent of more than 1,000 metres, and sig- nificant drill results in multiple holes (best intersection to date 13.25 g/t gold over 17.5 metres in the Goldstack Zone). Goldstrike's Chief Geologist and Director Trevor Bremner said, "We have inter- sected visible gold in 50% of the holes drilled this year. The presence of coarse high-grade gold in all three zones, and in multiple stacked layers that remain open, shows that the entire property is part of a new district scale gold system that is underexplored and presents a unique opportunity." There is no evidence of previous work on the property, and the company has advanced the project from a conceptual target to mineable widths in under 15 weeks of cumulative exploration on the ground. This is an original discovery, and is 100%-owned by Goldstrike. n

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