Rich Deposits Have Banyan Share Prices Singing

With Memorial Day taking the spotlight off stocks in the U.S., Canadian issues took advantage of all the attention, particularly those in the gold sector.

Vancouver-based Banyan Gold Corp. (TSX-Venture:BYN) enthused to investors about an impressive Initial Mineral Resource Estimate for the Aurex ‎and McQuesten properties (together, the "AurMac Property")‎ ‎ in Yukon’s Mayo Mining ‎district, about 360 ‎kilometres north of Whitehorse.

The Initial Mineral Resource Estimate comprises a total Inferred Mineral Resource of 903,945 ‎ounces of gold on the near surface, road accessible AurMac Property.

One mine displayed a capacity of 45,997,911 tonnes, with average grade of 0.524 grams gold per ton g/t), and gold content topping 774,000. Another contained 6.5 million tonnes, with 0.61 g/t, and gold content of 129,000.

BYN shares climbed 2.5 cents, or 31.3%, to 10.5 cents by noon EDT on Monday, on volume surpassing two million shares.