Banyan Gold starts drill program at AurMac
Banyan transitions from resource definition to aggressive expansion with a fully-funded 40,000-meter campaign targeting high-grade Yukon domains.
The most recent news (February 19, 2026) announces the commencement of a 40,000-meter diamond drill program at the company’s flagship AurMac project and the regional Nitra project in Yukon. The program is described as "fully funded," utilizing four drill rigs. Primary objectives include expanding the mineralized envelopes at the Airstrip and Powerline deposits, following up on identified high-grade zones, and testing ten previously undrilled regional targets. The announcement also outlines an extensive Q1-Q2 2026 marketing schedule across North America and Europe.
This news is materially positive as it marks the transition into a massive execution phase backed by significant capital. - Operational Scale: A 40,000-meter program is substantial for a company of this size, following a 42,700-meter program in 2025. It suggests high management confidence in the potential to upgrade the current 7.7 million ounce (Moz) resource. - Funding Status: Being "fully funded" removes immediate dilution risk. The company successfully raised $31.4 million in late 2025, providing the necessary runway to complete this program without returning to the market during the drill season. - Strategic Focus: Moving beyond the known deposits to test ten new regional targets at Nitra and AurMac indicates the potential for a "hub-and-spoke" district-scale development model, rather than just two isolated pits. - Resource Potential: The current resource (2.27 Moz Indicated and 5.45 Moz Inferred) already establishes AurMac as a Tier 1 scale asset; the 2026 program is specifically designed to target the higher-grade domains (>1.0 g/t Au) which are critical for the economic viability of a Preliminary Economic Assessment (PEA).
Banyan Gold is focused on the AurMac Project in the Mayo Mining District, Yukon. - Flagship Project: AurMac consists of the Airstrip and Powerline deposits. It is road-accessible and transected by a high-voltage power line. - Resource Base: 2.27 Moz Indicated (0.63 g/t) and 5.45 Moz Inferred (0.60 g/t). - Ownership: 100% interest in the key properties was consolidated in late 2025. - Infrastructure: The project is adjacent to Victoria Gold’s Eagle Mine and Hecla’s Keno Hill Silver Mine, making it one of the best-positioned juniors in terms of infrastructure access.