Banks Island Gold Ltd. reported an update on mining and processing at the Yellow Giant Gold Project. The company has recently been mining and processing mineralization from the Tel Central Zone. During mining of the T30 Central level, company geologists noted unusual amounts of micro-crystalline quartz breccia within the mineralized vein.

This rock type, which has been provisionally named "Jasperoid" makes up the eastern third of the Central Zone between T20 and T30 levels. Jasperoid encountered is commonly stained red from hematite but can also be stained dark grey to black color from galena and argentite. Jasperoid has a modest Specific Gravity (2.75 t/m3), which makes the pre-concentration of this material by Dense Media Separation difficult.

Assays from this material ranged from 29gpt gold to 214gpt gold. Jasperoid with black staining shows high silver values, which assayed up to 1,490gpt Ag. Company engineers are studying the best method to mine and process this material from T30 Central.

This material will likely be processed directly through the grinding and flotation sections of the mill with gold recovered by the Falcon Concentrator and by flotation.