Banyan Gold shares rally on high-grade drilling news
Banyan Gold Co. (BYN-TSXV) shares rallied Monday after the company said it has intersected very high-grade gold mineralization in the northern portion of its Powerline Deposit in the Canadian Yukon. It said the latest results, which include 13.03 g/t gold over 14.2 metres at Powerline North, highlight the potential to upgrade mineralized domains and expand the high-grade core of the Powerline Deposit.
The shares advanced on the news, rising 8.0% or 14 cents to $1.89 and trade in a 52-week range of $1.81 and 35 cents.
The company said drill hole AX-26-874 intersected 13.03 g/t gold over 14.2 metres, including 142.70 g/t over 1.0 metre, extending high-grade mineralization toward the largely undrilled gap between the Powerline and Airstrip Deposits. Much of this area is currently classified as unmineralized in the mineral resource model. The latest results are part of Banyan’s ongoing 2026 drill program at AurMac, focused on resource conversion, expansion, and delineation of higher-grade mineralized domains within and adjacent to the current resource envelope.
“The 13.03 g/t gold over 14.2 metres intersected in AX-26-874 is an exceptional result, while its location is equally important,’’ said Banyan Gold President and CEO Tara Christie. She said the high-grade interval is characterized by a high density of extensional quartz veins with bismuth sulphosalts, arsenopyrite, together with multiple occurrences of visible gold. The 142.70 g/t gold over 1.0 metre interval is associated with a locally brecciated extensional quartz vein containing coarse-grained to semi-massive arsenopyrite.
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.
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).
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.