Eagle Royalties (ER.C) has provided an update on the flagship royalty in its portfolio. Banyan Gold (BYN.V) has confirmed it will kick off a 30,000 meter drill program on its AurMac gold project in Canada’s Yukon Territory. Banyan intends to focus on the mineralized zones in the Powerline and Airstrip areas in an attempt to expand these zones and/or defining zones with higher grade rock.
As a reminder, Eagle Royalties has a NSR of 0.5-2% on numerous claims underlying the inferred resource calculation on the Airstrip and Powerline inferred resource. Banyan has no buyback rights on the royalties.
Disclosure: The author has a small long position in Eagle Royalties. Eagle Royalties is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
