Skip to main content

Banyan Gold - Expanding High-Grade Mineralization at AurMac & Drilling At Nitra

The KE Report Jun 29, 2026

Summary

High-grade intercepts — over 5.5 g/t gold (grams per tonne) across nearly 22 meters — sit inside AurMac's conceptual pit but outside the current mineral resource.

CEO Tara Christie says 2026 drill holes cannot enter the upcoming PEA (Preliminary Economic Assessment), which uses only drilling completed through end-2025.

Infill drilling to roughly 100-meter spacing aims to move the pit's unclassified high-grade zones into Inferred (lowest-confidence) resources, adding ounces and grade.

A 7,500-meter program now drilling ten regional targets at Nitra could add satellite deposits that extend future mill life at AurMac.

Management sees Banyan undervalued at about US$50 per resource ounce versus peers, with the filed technical report and second-half PEA as catalysts.

Key points on Banyan Gold Corp

  • Reported a new high-grade Powerline intercept (over 5.5 g/t gold across almost 22 meters, including 13 g/t over 9.2 meters) that sits inside the conceptual pit but was classified as waste in the current mineral resource; the CEO says it may add ounces, raise grade, and possibly form a whole new zone.
  • The high-grade core holds over 4.5 million ounces at 1.4 g/t at roughly a 0.9 g/t cutoff, a scale the CEO compares to the 2.8 million ounces at 1.4 g/t underpinning Talamore's mine plan.
  • The technical report filed June 26, 2026 shows 3.7 million ounces in the indicated category, and the CEO argues the refined lithology-based geological model predicts high-grade zones, adding credibility to the resource.
  • The PEA expected in H2 2026 will use only drilling through end-2025, so the 2026 high-grade holes feed the next mineral resource update instead; the CEO frames the PEA as the main near-term catalyst and argues the stock is undervalued at about $50 per ounce (US) versus peers.
  • The 2026 program had passed 30,000 meters by late June against a 70,000-meter season target, including a minimum 7,500-meter, two-rig program testing 10 regional targets at Nitra that the CEO says could yield satellite starter pits of roughly 0.5 million ounces at 1+ g/t.

Key points on Sitka Gold Corp

  • Banyan has picked up ground adjacent to Sitka's very high-grade zone, the CEO notes in describing new claims added near the Nitra property.
  • The CEO argues Banyan, Sitka, and Victoria Gold properties likely host related intrusions in the same deposit belt, so Sitka's multiple discoveries suggest similar potential on Banyan's ground.

Cory Fleck's takeaways

  • Top takeaway Structures the update around the June 17 Powerline high-grade results, the just-started Nitra drill program, and the newly filed AurMac technical report ahead of the PEA.
  • Presses on whether the 5.5 g/t over roughly 22 meters and 13 g/t over 9.2 meters intercepts are Banyan's longest high-grade widths yet, and asks about visible gold correlation, Nitra hole depths, and assay turnaround.

Tara Christie's takeaways

  • Top takeaway Argues the new Powerline high-grade zone (found in what was classified as waste inside the conceptual pit) shows Banyan has not yet found the edges of Powerline or Airstrip and that AurMac still has substantial growth and discovery potential.
  • Her core thesis is that the refined lithology-based geological model successfully predicts high-grade zones, which she says gives the resource credibility and is now guiding exploration targeting.
  • Concedes the 2026 holes will not make it into the H2 2026 PEA because of the resource cut-off, but expects the new zone to be significant in the next mineral resource update and study.
  • Sees potential satellite starter pits of roughly half a million ounces at 1+ g/t from the Nitra regional targets or the southern zone, which she argues would materially improve project economics.
  • Calls the PEA the major second-half 2026 catalyst, argues Banyan remains undervalued at about $50 per ounce (US) versus peers, and points to 30,000 meters drilled by late June toward a 70,000-meter season target.