Banyan Gold Corp Stock Price, News & Analysis

Banyan Gold Corp has completed a Royalty Purchase Agreement from the Estate of Jim McFaull, acquiring 100% royalty interest on 97 claims in the Aurex Claim Block of the AurMac Property. This agreement removes a royalty burden, facilitating advancement of the AurMac project, which hosts significant mineral resources totaling 3,990,000 ounces of gold. Additionally, a scholarship dedicated to the late Jim McFaull will be established, providing $5,000 annually for students in geology and mining.

Banyan Gold Corp has announced a successful $17 million private placement, increasing from a previously announced $16.5 million. The funding, which is pending TSX-V approval, will support ongoing development at the AurMac Property, including drilling and exploration. The financing comprises 16,210,500 Charity Flow Through Shares at $0.63, 5,334,000 Flow Through Shares at $0.55, and 8,662,321 Shares at $0.45. The funds will primarily be used for mineral exploration, which includes over 60,000 metres of diamond drilling planned for 2022-23.

Banyan Gold Corp has announced a fully subscribed non-brokered private placement, aiming to raise up to $16.5 million in gross proceeds. The placement includes 16,210,500 Charity Flow Through Shares priced at $0.63 each, 4,974,000 Flow Through Shares at $0.55, and 7,887,744 Shares at $0.45. Funds will support the company’s exploration and development at the AurMac Property, targeting over 60,000 metres of drilling. The transaction requires TSX Venture Exchange approval and is expected to close within 30 days.

Banyan Gold Corp. announced an updated mineral resource estimate for its AurMac Property, revealing a total inferred resource of 3,990,000 ounces of gold. The estimate highlights three deposits: Airstrip, Powerline, and Aurex Hill, all accessible by road. The company increased the inferred resources by over 3 million ounces through 40,000 metres of drilling. Future drilling plans include 30,000 metres in 2022 to further enhance the resource estimate. The effective date for this resource estimate is May 13, 2022.

Banyan Gold Corp. announced positive assay results from its 2022 drilling program at the Powerline deposit on the AurMac Property. Highlights include:

• 32.1 metres of 0.78 g/t Au in DDH AX-22-205
• 34.8 metres of 1.07 g/t Au in DDH AX-22-206
• 33.9 metres of 0.74 g/t Au in DDH AX-22-207
• 22.5 metres of 1.07 g/t Au in DDH AX-22-208

Over 17,000 metres of drilling have been completed, expanding mineralization at Powerline. The company expects ongoing results throughout 2022.

Banyan Gold Corp. announced the final analytical results from its 2021 exploration program at the Powerline Deposit, AurMac Property. The results show significant gold mineralization, with highlights including:

• 15.5 m of 1.31 g/t Au in DDH AX-21-181
• 34.5 m of 1.29 g/t Au in DDH AX-21-186
• 21.2 m of 3.02 g/t Au from surface in DDH AX-21-198

The results have prompted a large step-out drill program for 2022, enhancing the project's economic potential. Additionally, an option agreement amendment with Victoria Gold allows for increased flexibility in project timelines.

Banyan Gold Corp (TSXV:BYN)(OTCQB:BYAGF) announced the successful outcome of its 2022 annual general meeting held on March 31, 2022. All proposed resolutions, including the re-election of directors and the reappointment of auditors, were approved. A total of 56,152,197 shares were represented, showcasing significant shareholder involvement. Mark Ayranto did not seek re-election and is no longer the Chairman. Additionally, the company provided an update on its ongoing exploration program and safety measures against COVID-19. Banyan continues to focus on advancing its AurMac and Hyland projects in Yukon.

Banyan Gold Corp. has released promising assay results from 21 diamond drill holes in its 2021 exploration program at the Powerline Deposit on the AurMac Property. Key findings include:

• 48.6 m of 0.51 g/t Au from 36.7 m in DDH AX-21-166
• 69.4 m of 0.63 g/t Au from 125.9 m in DDH AX-21-170
• 96.7 m of 0.86 g/t Au from 73.4 m in DDH AX-21-197

The results suggest extensive gold mineralization, contributing to updates in the AurMac Gold Resource estimations planned for Q2 2022.

Banyan Gold Corp has appointed Marc Blythe as a director. With over 29 years in the mining sector, Blythe previously held senior roles at Nevsun Resources and Tarsis Resources. His expertise in project development and corporate strategy is expected to enhance Banyan's board as the company progresses with its Resource update and Preliminary Economic Assessment (PEA) for the AurMac and Hyland Projects. The company has also issued 400,000 stock options at $0.395 per share.