Banyan Gold Expands High-Grade Domains at Powerline, AurMac Project, Yukon, Canada
Banyan reports expanded high-grade domains at the Powerline deposit, though intercepts remain incremental for the large-scale bulk-tonnage system.
Banyan Gold Corp. (BYN) released gold assay results from 2026 drilling at the Powerline deposit within the AurMac Project. The program was designed to expand high-grade domains near the conceptual pit boundary established in the May 2026 mineral resource estimate (MRE).
Headline intercepts include: * 1.94 g/t Au over 7.6m (AX-26-833) * 1.12 g/t Au over 13.1m (AX-26-854)
The company also reported narrow higher-grade zones, including 6.29 g/t Au over 1.0m in AX-26-861 and 17.53 g/t Au over 0.6m in AX-26-834. Banyan stated that visible gold was observed and that the new domains indicate potential for up-dip and along-strike expansion.
Banyan Gold Corp. (BYN) is a junior explorer with a large, low-grade resource of 8.6 million ounces of combined gold and a preliminary economic assessment due in the second half of 2026. The stock has re-rated from approximately $0.26 to $1.59 over the past year, driven by resource expansion, a royalty deal with Franco-Nevada, and high-grade skarn discoveries. The market is currently pricing in significant growth and the potential for an economic project.
Recent drilling intercepts are modest and typical of the deposit, likely adding only a few ounces at the margins of the next resource update without significantly altering the overall scale or grade. These results represent a return to ordinary sheeted-vein findings, contrasting with the earlier discovery of a new high-grade skarn zone on June 17.
The stock closed at $1.59 prior to the release, near its 52-week highs.
Banyan Gold Corp. (BYN) holds the AurMac Project in the Yukon, a 720 km² contiguous land package that hosts the Airstrip and Powerline deposits, along with additional high-grade silver veins. As of May 2026, the project’s indicated resource stands at 3.64 moz Au (167 Mt @ 0.68 g/t), with an inferred resource of 4.99 moz Au (267 Mt @ 0.58 g/t).
The company’s portfolio also includes the Hyland Gold project, which holds an indicated resource of 337 koz Au @ 0.93 g/t and an inferred resource of 118 koz Au @ 0.95 g/t. Other assets include the Nitra grassroots RIRG target, where drilling commenced in 2026, and newly acquired Trail-Minto claims.
Management is led by CEO Tara Christie and VP Exploration Duncan Mackay, with Patrick Langlois joining as VP Strategy in 2026 following his tenure at Probe Gold. The board includes members with mining and finance expertise.
As of March 31, 2026, Banyan Gold reported C$26.5M in cash and C$24.6M in working capital, with no debt. A subsequent financing in May 2026 raised C$46.5M through a flow-through and hard dollar offering, fully funding 2026–2027 exploration and the Preliminary Economic Assessment (PEA). The company generates no revenue and has an annual burn rate of approximately C$4–5M.