Gold averaged $3,300 an ounce this month. At a 0.30 g/t cutoff, that turns marginal rock into ore. Banyan Gold just drilled 62.66 grams per tonne. That is not marginal rock.
Banyan Gold Intersects 62.66 g/t Gold in a New High-Grade Zone at the Powerline Deposit, Yukon
Banyan Gold Corp. (TSXV: BYN / OTCQB: BYAGF) announced on June 17 that it had intersected high-grade gold mineralization southwest of the main Powerline core at its AurMac Project in the Yukon. Hole AX-26-853 returned 13.00 g/t Au over 9.2 meters within a broader 5.58 g/t Au over 21.7 meters, including a bonanza-grade core of 62.66 g/t Au over 1.8 meters. A second hole, AX-26-826, returned a very high-grade interval of 17.30 g/t Au over 0.4 meters.
CEO Tara Christie called it a new potential high-grade zone, distinct from the skarn and sheeted vein mineralization already defined at Powerline. Visible gold was logged consistently across the holes — often a useful field indicator, though it does not replace laboratory assay.
AurMac is not a speculative target. The current resource, effective May 15, 2026, stands at 3.639 million ounces Indicated and 4.985 million ounces Inferred, calculated at a 0.30 g/t cutoff inside a US$3,500 per ounce pit shell. Banyan has drilled over 28,000 meters in 2026 alone and is targeting a preliminary economic assessment (PEA — an early-stage technical and financial study used to assess whether a mineral deposit is economically viable enough to advance toward more detailed engineering) in the second half of the year. New high-grade zones discovered while drilling toward a PEA typically get folded into the next resource update rather than triggering a standalone announcement. Filings on SEDAR+.
Formation Metals Extends Its A-Zone 200 Metres West Into Previously Undrilled Ground at N2 Gold
Formation Metals Inc. (CSE: FOMO / OTCQB: FOMTF) announced on June 18 its most significant expansion to date at the N2 Gold Project in Quebec. Step-out hole N2-26-021 returned 31.0 meters at 1.05 g/t Au beginning 243 meters downhole, roughly 200 meters west of the historic resource boundary. A higher-grade core inside that interval ran 12.0 meters at 1.89 g/t Au.
The geological read is straightforward. The same mineralization style and structural features seen in the core A-Zone showed up in previously untested ground. That suggests the system keeps going rather than petering out at the old boundary. The historic RJ Zone, five kilometers away, has returned grades up to 51 g/t Au in the past but has never been systematically tested along that strike. Connecting the two zones is the thesis Formation is now drilling toward.
The company is debt-free with roughly CAD $30.5 million in working capital, funding a 75,000-meter program through to a maiden resource estimate targeted for Q3 2026. The 4,400-hectare project already carries a historical resource of approximately 871,000 ounces. One item worth knowing: OTC Markets previously requested clarification from Formation regarding third-party promotional activity tied to its OTCQB shares. The company disclosed the engagement and the spend; readers can review the full disclosure on StockTitan and SEDAR+.
Mercado Minerals Hits 1,120 g/t Silver Equivalent at the El Agua Vein in Sinaloa
Mercado Minerals Ltd. (CSE: MERC / OTCQB: MRMNF) released further drill results on June 18 from its inaugural 3,000-meter program at the Copalito Project in Sinaloa, Mexico. 1.20 meters returned 1,120 g/t silver equivalent within a broader 3.50-meter interval averaging 686 g/t silver equivalent at the El Agua vein, an aggressive step-out that found the structure in a new, steeper-dipping interpretation than previously modeled.
The silver equivalent calculation uses metal price assumptions of US$24/oz silver, US$1,900/oz gold, US$0.90/lb lead, and US$1.10/lb zinc, with recoveries based on analogous epithermal deposits rather than site-specific metallurgical testing. No metallurgical work has been completed at Copalito yet. That is a standard early-stage caveat, not a red flag, but it is worth knowing before comparing these numbers directly to a producing mine.
Drilling at the company’s other target, the 5 Señores vein, is now complete, having extended the productive strike length to roughly 800 meters. The program is approximately 70% finished. Mexico carries real jurisdiction considerations that readers should weigh independently. Filings on SEDAR+.
Upcoming Catalysts: Banyan AurMac PEA, Formation Maiden Resource, Mercado Final Assays
Banyan Gold PEA: targeted for H2 2026. The new Powerline Southwest zone will likely feed into the next resource update before the PEA is finalized. Watch for that update timing.
Formation Metals maiden resource: targeted Q3 2026 at N2. Whether the A-Zone step-out connects to the RJ Corridor before the resource is calculated would materially change the resource size.
Mercado Minerals program completion: roughly 30% of the 3,000-meter Copalito program remains. The final assay batch and any initial metallurgical test work will be the next disclosures.
Sources
- Access Newswire: Banyan Gold Powerline Southwest high-grade intercepts, June 17, 2026
- StockTitan: Banyan Gold BYAGF news overview and AurMac resource details
- GoldInvest: Formation Metals significant step-out discovery at N2 Gold Project, June 18, 2026
- StockTitan: Formation Metals FOMTF news overview, working capital and OTC Markets disclosure
- Newsfile Corp: Mercado Minerals El Agua vein drill results, Copalito, June 18, 2026
- Junior Mining Network: drill results aggregation page, June 2026
Editorial Disclosure
This roundup is based entirely on publicly available information including press releases and regulatory filings. Securities discussed include Banyan Gold Corp. (TSXV: BYN) (OTCQB: BYAGF), Formation Metals Inc. (CSE: FOMO) (OTCQB: FOMTF), and Mercado Minerals Ltd. (CSE: MERC) (OTCQB: MRMNF). All three companies are DTC-eligible through their OTCQB listings. aktiego.com has not received any compensation from any company mentioned, their management, investor relations representatives, or any third party. No staff member or principal of aktiego.com holds a position in any security mentioned at the time of publication. All press release dates verified via Access Newswire (Banyan, June 17, 2026), GoldInvest and StockTitan (Formation Metals, June 18, 2026), and Newsfile Corp (Mercado Minerals, June 18, 2026). All drill results are preliminary, reported in core lengths or downhole intervals rather than confirmed true widths unless otherwise stated, and do not constitute a mineral resource estimate under NI 43-101 (Canada’s national standard for public disclosure of mineral exploration results). Formation Metals previously disclosed a third-party promotional engagement following an OTC Markets inquiry; details are available in the company’s public disclosures referenced above. Mercado Minerals’ silver equivalent figures are calculated using metal price and recovery assumptions based on analogous deposits; no site-specific metallurgical testing has been completed at Copalito. Mercado Minerals’ Copalito project is located in Sinaloa, Mexico, which carries jurisdiction-specific operating considerations that readers should evaluate independently. All companies are exploration-stage with no production revenue. These are speculative investments carrying significant risk including potential total loss of capital. Coverage on aktiego.com is provided for informational and educational purposes only. aktiego.com is not a registered investment advisor. Nothing in this article constitutes financial, investment, or professional advice. Readers are encouraged to conduct their own due diligence and consult a qualified financial advisor before making any investment decisions. For more information please see our full DISCLAIMER.
