Banyan Gold Intersects High-Grade Mineralization at Newly Identified Roaring Fork Zone, Visible Gold at Seattle Creek Zone, Nitra Project, Yukon
Banyan’s first hole at the Nitra target returned five metres grading 1.62 grams per tonne of gold with true width unknown.
Banyan Gold Corp. (BYN) has released its first drill results from the Nitra Gold Project, located 25 km west of its flagship AurMac property. The company is targeting Reduced Intrusion-Related Gold Systems (RIRGs) across 11 regional targets.
At the Roaring Fork zone, hole NT-26-001 returned 1.62 g/t Au over 5.0 m from 84.9 m, including 17.80 g/t Au over 0.4 m and 5.36 g/t Au over 1.4 m. The hole also intersected additional long, low-grade intervals: * 0.10 g/t Au over 20.0 m * 0.15 g/t Au over 9.3 m * 0.13 g/t Au over 11.2 m * 0.11 g/t Au over 9.1 m
These intervals are well below the 0.30 g/t cut-off used at AurMac. Assays were received only for the top 285 m of the hole, with the lower half and adjacent holes pending.
Drilling is ongoing at the Seattle Creek zone (NT-26-006). While no assays are available yet, visual observations noted visible gold in quartz veins with bismuth sulphosalts. Banyan’s CEO and VP described the results as a new discovery, citing similarities to the vein systems at AurMac.
Banyan Gold Corp. (BYN) is a developer and explorer with a market capitalization of C$578 million and a large AurMac resource of 8.62 million ounces of gold. The Nitra project is in the early stages of greenfields exploration, marking the first hole of a 7,500-meter program.
The reported intercept does not materially change the resource inventory, de-risk the main AurMac deposit, or prove a satellite deposit. It represents a single, weak intercept at a new target.
The stock has recently traded in a C$1.30–1.60 range. For a company of this size, a grassroots discovery hit of this caliber is routine news flow—encouraging but not yet material.
Banyan Gold Corp. (BYN) holds a large, consolidated land package of 830 km² with district-scale potential, more than 95% of which remains untested. The company’s flagship asset is the AurMac Project in the Yukon, where an updated Mineral Resource Estimate (MRE) released in May 2026 defined Indicated resources of 3.64 moz Au at 0.68 g/t and Inferred resources of 4.98 moz Au at 0.58 g/t, based on a 0.30 g/t cut-off. These resources are open-pit constrained, with a Preliminary Economic Assessment (PEA) expected in the second half of 2026.
The Hyland Gold Project, with an updated MRE from September 2025, contains Indicated resources of 337 koz Au and 2.63 moz Ag, alongside Inferred resources of 118 koz Au and 0.86 moz Ag. Additionally, the Nitra Gold Project is a 100%-owned grassroots exploration property spanning approximately 314 km², located west of AurMac. A 2026 drill program is scheduled to test 11 RIRG targets.
Financially, Banyan Gold maintains a strong treasury with C$26.5M in cash as of March 31, 2026, supplemented by C$46.5M in financing closed in May 2026. This capital position fully funds the company’s drill programs through 2027. The company also holds a key royalty agreement with Franco-Nevada, which acquired a 6% net smelter return (NSR) on core claims for US$52.2M. Banyan retains the option to reduce this royalty to 1% for US$10M.