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Banyan Gold - Two New Gold Discoveries At The Nitra Project

The KE Report Aug 4, 2026

Summary

Visible gold in Banyan Gold's first-ever Nitra drill holes gives the junior two new discoveries, which CEO Tara Christie reads as district-scale potential.

Roaring Fork's first hole returned 1.62 grams per tonne gold over 5 meters, including nearly 18 grams per tonne over almost half a meter.

The new zones sit 25 kilometers from the AurMac deposit, where about 40,000 of 70,000 planned meters are drilled and assays keep flowing.

Assay lab backlogs led Banyan to release visuals early; a third drill rig could push the Nitra program from 7,500 toward 10,000 meters.

Banyan expects its PEA (Preliminary Economic Assessment — a first look at project economics) in Q4, built on a new 5.2-million-ounce resource.

Key points on Banyan Gold Corp

  • First-pass drilling at the Nitra project hit visible gold at both of the first two targets tested, Roaring Fork and Seattle Creek, which host and CEO describe in the August 4, 2026 interview as two new gold discoveries.
  • The first reported Roaring Fork hole returned 1.62 g/t gold over 5 meters, including nearly 18 g/t gold over almost half a meter, and hole six about 5 kilometers to the north also showed visible gold.
  • As of the interview, about 3,500 meters of the 7,500-meter Nitra program were drilled, with a third rig being added and a possible push to 10,000 meters, while the Ormac program had reached nearly 40,000 meters across 130 holes of a roughly 70,000-meter plan.
  • The CEO says the new 5.2-million-ounce resource (at a 0.55 g/t cut-off) will feed a PEA targeted for launch in the fourth quarter, which management expects to deliver the company's first economics.
  • The 830-square-kilometer land package holds roughly 100 regional targets (11 selected as top priorities), the two discoveries sit about 25 kilometers from Ormac, and the newly acquired Seattle and Goodman Creek properties are awaiting permits.

Cory Fleck's takeaways

  • Top takeaway Frames the July 28 news as two new gold discoveries from first-ever drilling at the Nitra project, citing high-grade gold at Roaring Fork and visible gold at Seattle Creek.
  • Presses on whether Roaring Fork and Seattle Creek, about 5 kilometers apart, could be one connected system and on how much of the roughly 70,000-meter overall program remains.

Tara Christie's takeaways

  • Top takeaway Argues the visible-gold hits at the first two Nitra targets support her view that Banyan controls a district (an 830-square-kilometer land package with roughly 100 regional targets), not just the Ormac deposit.
  • Suggests Roaring Fork and Seattle Creek, about 5 kilometers apart and roughly 25 kilometers from Ormac, could form one connected intrusion-related system, while stressing this still has to be tested.
  • Defends releasing core visuals ahead of assays, citing an expected four-week lab turnaround from Nitra and the value of sharing structural observations with visiting geologists and shareholders.
  • Places the company on the discovery side of the Lassonde curve while also moving toward developer status, calling the fourth-quarter PEA on the 5.2-million-ounce resource potentially transformative for the company.
  • Notes visible gold is not always associated with the highest grades, treating it as an indicator of gold until assays confirm values, and is following up 400 meters from a deep Ormac hole that ended in 15 g/t material.