Banyan drills intersect high-grade gold at Yukon project
Banyan Gold Co. (BYN-TSXV) said Tuesday it has intersected high-grade gold at surface in the core of the Powerline Deposit at its AurMac Project in the Canadian Yukon.
The company said selected highlights demonstrate continuity of high-grade in core of the Central Powerline Deposit. They include hole AX-25-607, which returned 2.69 g/t gold over 11.8 metres within 0.65 g/t gold over 72.5 metres; including 29.3 g/t gold over 0.4 metres, 21.04 g/t gold over 0.4 metres and 2.26 g/t gold over 3.4 metres.
The AurMac Project is Banyan’s primary asset. The current mineral resource estimate for the AurMac Project has an effective date of June 28, 2025, and consists of an indicated resource of 2.27 million ounces of gold, including 1.66 million ounces in the Powerline Deposit and 611,000 ounces in the Airstrip Deposit.
On top of that is an inferred resource of 5.45 million ounces including 5.2 million ounces at Powerline and 245,000 ounces at Airstrip.
In its latest update, the company said high-grade gold in drill holes AX-25-697, 700, 706 and 709B highlight the potential for very high-grade gold intervals in Powerline and continue to reinforce continuity in the core of the deposit and confirm new 3D modelling of high-grade mineralized domains. These intersections also have the potential to convert inferred ounces from the current mineral resource estimate into indicated resources in the Powerline Deposit. To date, the company has drilled over 30,000 metres (130 holes) on AurMac this year, with the current drill program ongoing.
In a press release on October 16, 2025, Banyan Gold announced the closing of a $31.4 million private placement with strategic investor Alpayana S.A.C. Alpayana is a family-owned private mining group with more than 39 years of continuous operations in Peru and Mexico. It operates six mining units in the Peruvian Andes and Bolivar, Mexico.
“With our recent $31.4 million strategic investment by Alpayana we have upsized our drill program to 40,000 metres and have added a fourth drill rig,’’ said Banyan President and CEO Tara Christie. “Our modelling and drilling suggests that the deposit is open in all directions, confirming the +1 g/t zones and potentially extending the zones beyond the previously known mineralization,’’ she said.
The AurMac gold project is located in the Mayo Mining district, 356 kilometres north of Whitehorse. It lies adjacent to Hecla Mining’s [HL-NYSE] high grade Keno Hill Silver mine. Banyan recently said it had closed the 100% earn-in agreement on AurMac with PricewaterhouseCoopers Inc., the receiver and manager for Victoria Gold Corp. Banyan has now earned the remaining interests (additional 25%) in the McQuestern and Aurex properties (which together comprise the core of the AurMac project).
Banyan Gold shares eased 8.86% or $0.07 to 72 cents in early trading Tuesday and trade in a 52-week range of 84 cents and 17.5 cents.
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