Banyan Gold (BYN.V) has released another resource calculation on its flagship AurMac gold project in Canada’s Yukon Territory. The global resource calculation now contains 7 million ounces of gold in the inferred resource category with almost 90% of the resource belonging to the Powerline deposit.
The resource update is important news for Eagle Royalties (ER.C) as Eagle owns a royalty of 1% on a portion of the Powerline deposit and a royalty of 1% and 2% on the Airstrip Deposit (see the image at the top of this page – note: it does not take the recently released resource update into account yet). Although it is not immediately clear what the exact resource growth is on the areas Eagle Royalties has a NSR on, the increased resource at AurMac makes the project more interesting from the perspective of potentially developing the project as the project may now have reached critical mass.
In other news, Eagle Royalties has confirmed Fathom Nickel (FNI.C) has kicked off a 2,000 meter diamond drill program on the Albert Lake property. The asset is currently being explored for nickel and platinum group elements. Eagle Royalties owns a 2% NSR on the asset of which half may be repurchased by Fathom Nickel for C$1M in cash.
Disclosure: The author has no position yet in Eagle Royalties. Eagle Royalties is a sponsor of the website. Please read the disclaimer.
