Banyan Gold - High-Grade/Bonanza Gold Results, Resource Expansion, and 2026 Exploration Progress

The KE Report Aug 18, 2026

Summary

Hole AX-26-874 returned 13 g/t gold over 14.2m at Powerline North, including a bonanza 142.7 g/t over 1m near surface.

Banyan's updated lithological model is identifying high-grade zones between Airstrip and Powerline, with potential to reshape future strip ratios.

Banyan has completed 40,000m of its 70,000m 2026 drill program and reports visible gold in early drill holes at the regional Nitra target.

The 2026 program targets resource conversion for a post-PEA study, with deeper drilling expected to add inferred ounces below existing pits.

Drilling will continue to support a future PFS rather than trigger an immediate shift to development.

Hole 874 in the previously undrilled gap between Airstrip and Powerline returned 13 g/t gold over 14.2m (true width ~12.8m), including a bonanza 142.7 g/t over 1m — described as among the largest high-grade intercepts on the property to date
Closing the gap between Airstrip and Powerline would take roughly 15,000m of drilling and could convert material currently classified as unmineralized waste into ore, lowering the strip ratio in the next study
About 40,000m of the planned 70,000m 2026 program has been drilled across Ormac and Nitra (~5,000m at Nitra, ~12 holes), with one rig currently turning at Ormac and visible gold reported in the first two Nitra holes
The 2026 program is being sequenced toward a future resource update and PFS rather than the current PEA — deep holes are now being drilled below the existing pits because the prior $1,500/oz gold-price assumption had artificially constrained the pit shells

Top takeaway Pressed Christie on whether Banyan already has enough ounces and pushed for an update on the silver-component story that emerged earlier in 2026

Top takeaway Argues the new geological model is lithologically constrained and is successfully predicting higher-grade zones, with hole 874 as evidence that the Airstrip–Powerline gap hosts a continuous high-grade domain
Frames 2026 as the first year the company has enough cash and momentum to plan around 2027–2028 study catalysts (PFS / next resource update), not just drill results
Says drilling will continue rather than pivot to development, because PFS-required indicated resources and a real strip-ratio understanding are needed first
Sees Nitra (regional targets 25 km away and a further ~15 km west) as a separate early-stage exploration leg, with visible gold in the first two holes supporting 11 drill targets this year