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AuMEGA Metals Ltd (AUMMF) provides investors and industry observers with comprehensive updates on its exploration activities along Newfoundland’s Cape Ray Shear Zone. This dedicated news hub consolidates all official communications, including technical breakthroughs, drilling results, and strategic developments.
Our repository serves as a reliable source for tracking the company’s systematic exploration approach, which combines advanced geophysical surveys with diamond drilling programs. Users will find updates on key projects like Bunker Hill and Hermitage, alongside analyses of structural targets and mineralisation patterns.
The curated collection includes press releases detailing geochemical findings, partnership announcements, and operational milestones. All content undergoes strict verification to ensure accuracy and relevance for investment research purposes.
Bookmark this page for direct access to AUMMF’s latest developments in one of Canada’s most prospective gold exploration corridors. Regular updates provide critical insights into the company’s progress in delineating district-scale mineral resources.
AuMEGA Metals (OTCQB: AUMMF) has begun diamond drilling at its Cape Ray Project in Newfoundland and Labrador to test a newly defined airborne electromagnetic (EM) conductor located in the hangingwall of the Central Zone.
The conductor measures approximately 500 m by 1,000 m, lies 500 m southeast of the Company's high-grade Central Zone deposits, and has never been drill tested. A historic heavy mineral concentrate sample of 111.5 g/t Au was collected on the conductor's flank. The program is fully funded, will start with one diamond rig and can scale to a second rig, and aims to progress through the pre-Christmas field window. Additional till geochemistry results from the Isle aux Morts Granite are expected in the near term and could refine further drill locations.
AuMEGA Metals (OTCQB: AUMMF) announced the creation of a Technical Committee of the Board to strengthen strategic oversight of its exploration programs across its district-scale land position in Newfoundland and Labrador.
The Committee will include at least three directors with geological and mining expertise, will work with management and the technical team, and will liaise with strategic shareholders on exploration priorities and long-term value creation. The company also announced that Kerry Sparkes will retire from the Board effective 30 November 2025; Sparkes joined as technical advisor in June 2021 and was appointed to the Board in September 2022, most recently serving as Chair of the Remuneration and Nomination Committee.
AuMEGA Metals (OTCQB: AUMMF) reported new surficial geochemistry results at Cape Ray West, outlining a multi-kilometre gold corridor along the western contact of the Isle aux Morts Granite.
Key highlights: three coherent gold-in-till anomalies up to ~3 km in strike with peak values of 402 ppb, 118 ppb, and 113 ppb; anomalies coincide with magnetic breaks, structures and quartz veining; integration of geochemistry, EM and magnetics is underway to define drill targets; a fully funded initial drilling program is planned for Q4 2025. The Cape Ray Project hosts reported resources of 420,000 oz Indicated and 141,000 oz Inferred gold (US$1,750/oz basis).
AuMEGA Metals (OTCQB: AUMMF) has identified a significant new untested anomaly at its Cape Ray Project in Newfoundland and Labrador, Canada. The discovery, located 500 metres southeast of the Central Zone deposits, was revealed through an Airborne Time Domain Electromagnetic (EM) survey.
The newly identified anomaly extends 1,000 metres along strike and is 500 metres wide, with characteristics matching the Central Zone deposits that currently host 420,000 ounces of Indicated gold resources and 141,000 ounces of Inferred resources. Notably, a historical sample near the anomaly returned 111.5 g/t gold.
The company plans to commence a fully funded drilling program in Q4 2025 to test this new target, along with several other newly identified EM anomalies across the property.
AuMEGA Metals (OTCQB:AUMMF) reported significant progress in its 2025 exploration program at the Cape Ray Project in Newfoundland, Canada. The company's diamond drilling program intersected 1.85 g/t gold over 13.5 metres, including 4.79 g/t over 0.85 metres, extending mineralization at the Central Zone.
The company completed its largest surface program ever, collecting 91 rock and 1,082 till samples at Cape Ray West. Preliminary electromagnetic survey results identified several discrete anomalies consistent with Central Zone deposits. The Cape Ray Project currently hosts 420 koz of gold in indicated resources and 141 koz in inferred resources.
AuMEGA maintains a strong financial position with C$9.2 million in cash, supporting its comprehensive exploration campaign. The company plans to expand its resource base through ongoing drilling and systematic exploration programs across multiple projects.
AuMEGA Metals (OTCQB:AUMMF) has provided a comprehensive exploration update across its key projects. The company has completed a 2,559.7-metre diamond drill program at Cape Ray, with initial assay results expected in mid-August 2025. The company's treasury stands strong at C$9.2 million.
Key developments include an extensive till sampling program at Cape Ray targeting 1,500 samples, identification of gold mineralization at Bunker Hill's Branch Fault, and plans for Hermitage's largest exploration program to date with 1,725 geochemical till samples. The Cape Ray Project currently hosts 420 koz of gold in indicated resources and 141 koz in inferred resources, based on a gold price of $1,750 per ounce.
AuMEGA Metals (OTCQB: AUMMF) has appointed James Withall as Non-Executive Director, effective August 1, 2025. Withall, former CEO of Rupert Resources, brings extensive mining sector experience from his roles as a geologist, portfolio manager at BakerSteel, and most recently as CEO of Rupert Resources, where he led the company to achieve a market valuation of nearly CAD $1 billion.
Under Withall's leadership, Rupert Resources transformed from a small-cap explorer into a significant multi-million-ounce discovery. His expertise in exploring regions with considerable overburden will be valuable as AuMEGA's fourth Non-Executive Director. The company benefits from strategic backing from B2Gold and several major global funds.
AuMEGA Metals (AUMMF) has launched its spring exploration program at the Cape Ray Project while receiving partial assay results from its Bunker Hill winter drilling campaign in Newfoundland and Labrador, Canada. The company's diamond drill hole CRD396 at Bunker Hill West yielded notable results of 1.84 g/t gold over 1.0 metres, including 5.58 g/t gold, 96 g/t silver, and 3.64% lead over 0.3 metres.
With a strong treasury of C$13.1 million, AuMEGA plans to execute up to 10,000 metres of diamond drilling across high-priority targets. The company awaits assays from nine diamond holes and 147 RC base-of-till holes, with results expected in the coming weeks. An electromagnetic survey is underway at Cape Ray, with results anticipated in June to guide future drilling efforts.
AuMEGA Metals (AUMMF) has completed its winter drilling program at the Bunker Hill Project in Newfoundland, Canada, with significant discoveries. The program included 5,067 metres of combined diamond and reverse circulation (RC) drilling, with 147 RC holes completed. A notable discovery was made in RC drill hole CRC0284, which reported 417 ppb gold over six metres with peak values of 893 ppb gold, 3.7 g/t silver, and 0.92% lead on the Branch Fault structure.
The company identified multiple bedrock samples with gold anomalism, including three RC holes returning 219 ppb, 160 ppb, and 129 ppb gold. AuMEGA plans to resume operations with a 5,000-metre drilling program at Cape Ray in June 2025, followed by an additional 5,000 metres at Bunker Hill mid-year. With C$13.1 million in cash, the company is fully funded for its 2025 exploration program.
AuMEGA Metals (OTCQB: AUMMF) has appointed Mike Skead as President, effective May 1, 2025. Skead, a globally recognized geologist, will report to Managing Director and CEO Sam Pazuki while leading the company's exploration strategy and team activities.
Skead's notable experience includes his recent role at GT Gold Corp., which was acquired by Newmont Corp. for C$400 million in 2021. His career spans leadership positions at major mining companies including Newmont, Goldcorp, Dundee Resources, and Ashanti Goldfields.
The appointment aims to strengthen AuMEGA's position in Newfoundland's mining district, particularly in the Cape Ray/Valentine Lake Shear Zone. The company currently benefits from strategic backing by B2Gold and institutional shareholders, controlling district-scale projects with significant mineral resources.
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