CRANBROOK, BC / ACCESS Newswire / April 3, 2025 / Eagle Royalties Ltd. ("ER.CN":CSE, or "Eagle Royalties") has recently learned of the commencement of a 30,000m diamond drill program at Banyan Gold Corp.'s AurMac project in central Yukon (see March 27 th BYN news release here). Eagle Royalties holds royalty interests ranging from 0.5% to 2% (with no buy-down provision) on numerous claims underlying the Airstrip and Powerline inferred resource areas (wholly or partially) as defined by Banyan. See additional AurMac royalty information here
According to the recent announcement, Banyan intends to focus on further expansion and definition of mineralized zones in the Airstrip and Powerline areas; defining areas of higher grade, particularly near surface (<100m); and testing proximal and distal targets identified through soil geochemical sampling and geophysical surveys.
As reported by Banyan, the company completed 118 drill-holes and over 21,000 m of drilling within the Powerline and Airstrip deposit areas, reporting significant drill results in the Airstrip area in drill hole AX-24-590 where 15.9 m graded 9.32 g/t gold, including 3.7 m of 33.43 g/t gold and 13.8 m of 3.81 g/t gold from 77.9m depth. Drilling from 2024 at the Powerline deposit resulted in 16 drill holes with intersection greater than 50 gram-metres, including AX-24-540 which intersected 23.1 m of 5.68 g/t gold from 159.3 m, including 0.2 m of 539.3 g/t gold (see March 3rd, 2025 news release here).
See 2024 AurMac drill-hole locations here
The above technical information relating to drill collar location and analytical results have been taken directly from Banyan Gold news releases. More detailed drilling information, analytical procedures and results are available in the full news releases 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.
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).
As a royalty holder, Eagle Royalties has limited, if any, access to the properties subject to its interests. The company generally relies on publicly available information regarding these properties and related operations and often has no ability to independently verify such information. In addition, such publicly available information may relate to a larger property area than that covered by the company's interests.
Qualified Persons
Technical information in this News Release has been reviewed and approved by C.C. Downie, P.Geo., a director and officer of Eagle Royalties, hereby identified as the "Qualified Person" under N.I. 43-101.
About Eagle Royalties Ltd.
Eagle Royalties benefits from maintaining a strong treasury and holds a diverse portfolio of over 35 royalty interests in western Canada. Target commodities subject to royalties include a broad spectrum including critical metals, precious metals, industrial minerals and diamonds. Its flagship royalty is associated with the AurMac Project located in Yukon, operated by Banyan Gold Corp. Eagle Royalties holds royalty interests ranging from 0.5% to 2% on claims that contain a significant portion of AurMac's inferred gold resource located at the Powerline and Airstrip deposit areas. Eagle Royalties also holds royalty interests on a number of historical base metal deposits located in Western Canada.
On behalf of the Board of Directors
"Tim J. Termuende"
President and CEO
For further information regarding ER, please contact Mike Labach, Business Development Officer, at
1 866 HUNT ORE (486 8673)
Email: info@eagleroyalties.com or visit our website at https://www.eagleroyalties.com/
Cautionary Note Regarding Forward-Looking Statements
Neither the CSE nor any other regulatory body has reviewed or approved the contents of this news release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Eagle Royalties Ltd.
View the original press release on ACCESS Newswire
