AUS
NZ
UK
CA
USA
IND
Key Highlights:
- Banyan Gold initiates a helicopter-supported ZTEM survey over the AurMac Project, enhancing exploration efforts.
- Eagle Royalties holds royalty interests ranging from 0.5% to 2.0% on claims covering a significant portion of the inferred resource.
- Strong treasury of over CAD $3.5 million positions Eagle Royalties for future growth in the critical and precious metals sector.
Eagle Royalties Ltd. (CSE: ER) is pleased to report on recent developments regarding the AurMac Project in the Yukon Territory, following Banyan Gold's announcement of a helicopter-supported Z-axis Tipper Electromagnetic (ZTEM) geophysical survey. This survey is set to cover an area of 234 square kilometers, which includes key deposits known as Powerline and Airstrip. Eagle Royalties holds valuable royalty interests ranging from 0.5% to 2.0% on specific claims that underlie a significant portion of the inferred resource at the AurMac Project.
Banyan Gold has made notable strides in advancing the AurMac Project. Earlier this year, the company reported the completion of 15,000 meters of a planned 20,000-meter drill program, aimed at delineating and enhancing the project's resource profile. In conjunction with drilling, Banyan has also initiated enhanced metallurgical studies to support a Preliminary Economic Assessment (PEA) anticipated for completion by December 2025.
Recent metallurgical test results have shown promising recoveries: 93% at the Powerline deposit and 90% at the Airstrip deposit. These recoveries were achieved through various conventional milling processes, including gravity recovery combined with Carbon in Leach (CIL) and Carbon in Pulp (CIP) methods. Ongoing work is focusing on flotation-leach processes, further refining the extraction potential of these deposits.
The ZTEM survey, contracted to Geotech Ltd., is expected to provide critical data that will enhance Banyan's understanding of the geophysical characteristics of the AurMac Project. This advanced survey technique is designed to detect subsurface conductive structures, which are often associated with mineralization. By identifying these structures, Banyan aims to optimize future drill targeting and resource delineation efforts, ultimately bolstering the economic viability of the project.
Eagle Royalties benefits from a robust treasury of over CAD $3.5 million, enabling the company to capitalize on opportunities within its diverse portfolio of 38 royalty interests across western Canada. These royalties encompass a wide range of commodities, including critical metals, precious metals, industrial minerals, and diamonds. The flagship royalty associated with the AurMac Project represents a significant asset for the company, as it holds a direct interest in the ongoing exploration and development efforts of Banyan Gold.
Having been spun out from Eagle Plains Resources Ltd. (TSX-V: EPL) in May 2023, Eagle Royalties is strategically positioned to manage and grow its royalty portfolio effectively. The company’s strong financial standing and its focus on critical and precious metals align with the growing demand for these resources, particularly as global initiatives shift toward sustainable and responsible mining practices.
