Bayan Mining and Minerals Prioritises Bayan Springs South Project after Record Gold Grades

Bayan Mining and Minerals (ASX: BMM) has obtained record gold grades at Bayan Springs South from samples obtained in the second phase of exploration at the Nevada project.

The company has described the biggest gold hits to date from rock chip sampling at the East and South targets as a “step-change” in confirming the project’s potential.

Bayan Springs South is located approximately 10 kilometres north of Kinross Gold’s Bald Mountain mine, which contains approximately 1.2 million ounces in probable reserves, 2.7Moz in measured and indicated resources and 571,000oz in inferred resources.

Follow-Up Exploration

The company is now moving quickly to follow up the exploration success with plans to expand the soil sampling grid to confirm continuity of mineralisation beyond the current survey limits.

The next phase of work will include ground geophysical surveys to define the subsurface extent of favourable stratigraphy and structural corridors associated with identified geochemical anomalies.

Bayan also intends to introduce results from geophysics and geochemistry to help refine target geometry ahead of drill planning.

Exceptional Rock Chip Results

Executive director Fadi Diab said the exceptional rock chip results and a systematic soil program had delivered multiple samples of more than 0.10g/t.

“The discovery of high-grade gold, coupled with strong Carlin-style geochemical signatures across multiple targets, validates our exploration model and underscores the potential for a major gold system,” Mr Diab said.

“The consistency and scale of the anomalies particularly at the east and south targets have exceeded our expectations and firmly position the project as a standout Carlin-type opportunity”

Canadian Lithium Withdrawal

Meanwhile, following a strategic review of its portfolio, Bayan has elected to withdraw its exclusive option to acquire the Gorge project.

The company said the decision aligns with its commitment to prioritise projects that offer stronger returns for shareholders, including Bayan Springs South.

With the recent gold, silver and rare earth staking opportunities in the USA, Bayan plans to focus its resources on high-potential assets that enhance the company’s long-term value.