Horizon Copper Celebrates Positive Arbitration Ruling for Entrée Resources
Horizon Copper Corp. announces a favorable arbitration ruling for Entrée Resources, enhancing the future of the Oyu Tolgoi copper project in Mongolia.
Banyan Gold Corp. Celebrates Federal Funding for Yukon Grid Connectivity
Banyan Gold Corp. has expressed its enthusiasm following the recent announcement of federal funding aimed at enhancing electrical grid connectivity between Yukon and British Columbia. This initiative is expected to bolster green energy capacity and support the mining sector in the region.
Key Takeaways
- Funding Amount: $40 million allocated for pre-feasibility studies.
- Project Scope: High-voltage transmission line to connect Yukon to the North American grid.
- Company Impact: Potential benefits for Banyan's AurMac Project.
- Stock Options: Issuance of 400,000 stock options to company personnel.
Yukon Grid Connectivity Funding
On September 20, 2024, Natural Resources Canada announced conditional approval for a significant investment of $40 million. This funding is designated for pre-feasibility activities to develop a high-voltage transmission line network that will connect the Yukon electrical grid to the North American grid in British Columbia. The announcement was made by key government officials, including the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, and the Honourable Josie Osborne, British Columbia's Minister of Energy, Mines and Low Carbon Innovation.
The funding is part of the Critical Minerals Infrastructure Fund, which aims to enhance Yukon’s green energy capacity, thereby supporting future developments in exploration and mining sectors. A three-phased 138 Kilovolt-amps (KVa) powerline currently runs through the AurMac project, positioning Banyan to directly benefit from this potential grid connection.
Tara Christie, President & CEO of Banyan, emphasized the importance of this funding, stating, "The allocation of funding to plan for a potential connection between the Yukon and British Columbia electrical grids is important as it could bring additional green energy to benefit all Yukoners and potentially support Banyan's AurMac Project."
Stock Options Grant
In conjunction with the funding announcement, Banyan's Board of Directors has granted 400,000 stock options to purchase shares at an exercise price of $0.22 per share. These options come with a vesting period of up to 18 months and a five-year term. The options are intended for directors, officers, consultants, advisors, and exploration staff, aligning with the company's stock option plan.
Upcoming Events
Banyan Gold Corp. has several upcoming events that stakeholders may find interesting:
- Yukon Geoscience Forum: November 17 to 20
- New Orleans Investment Conference: November 20 to 23
- Corporate Update and Breakfast: November 21, 7:15 AM CST
About Banyan Gold Corp.
Banyan Gold Corp. is primarily focused on its AurMac Project, located in Canada’s Yukon Territory. The current inferred Mineral Resource Estimate (MRE) for the AurMac Project stands at 7.0 million ounces, effective as of February 6, 2024. The project spans 173 square kilometers and is strategically located 40 km from Mayo, Yukon, benefiting from existing infrastructure such as a three-phase powerline and cell phone coverage.
The AurMac Project includes two near-surface deposits: the Airstrip and Powerline Deposits, which are accessible and road-connected. The inferred MRE is detailed as follows:
| Deposit | Gold Cut-Off (g/t) | Tonnage (Tonnes) | Average Gold Grade (g/t) | Gold Content (oz) |
|---|---|---|---|---|
| Airstrip | 0.30 | 35,243,000 | 0.75 | 845,000 |
| Powerline | 0.30 | 312,243,000 | 0.61 | 6,158,000 |
| Combined | 0.30 | 347,486,000 | 0.63 | 7,003,000 |
Banyan also holds the Hyland Gold Project, located 70 km northeast of Watson Lake, Yukon, further diversifying its portfolio in the mineral exploration sector.
Sources
Share
Related Articles
Snowline Gold Discovers Promising Gold Intersections at Valley Deposit in Yukon
Snowline Gold Corp announces significant gold intersections at its Valley deposit in Yukon, revealing extensive mineralization and promising future prospects.
Canada's TSX Hits 4-Week Low Amid Lower Oil Prices
Canada's TSX composite index hits a four-week low due to lower oil prices and political unrest, reflecting broader economic challenges.
Disclaimer
Welcome To Walk The Street
We're just a bunch of guys mixing up market news with our own brand of banter, giving you the lowdown on stocks with a twist at Walk The Street Capital.
Oops! Something went wrong while submitting the form.
