Latest news with #AuMEGA
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26-05-2025
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AuMEGA Metals Commences Diamond Drilling at Cape Ray and Announces Partial Diamond Drill Results from Bunker Hill
Key Highlights Diamond Drilling Recommences: Planned up to 10,000 metres of diamond drilling (success dependent) along with mapping, and sampling across high-priority targets at Cape Ray and Bunker Hill. Encouraging Early Drill Results at Bunker Hill West: Diamond drill hole CRD396 intersected 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-supporting the presence of a larger mineralised system along the Branch Fault. Multiple Catalysts Ahead: Assays pending from nine diamond holes and 147 RC base-of-till holes - results expected in coming weeks. New Targets Emerging at Cape Ray: Electromagnetic (EM) survey underway targeting structural complexity and graphite-rich rocks; results expected in June to guide Cape Ray West drilling. Strong Treasury of C$13.1 Million in Cash1: Fully funded to deliver one of the largest and most systematic exploration campaigns in AuMEGA's history. Edmonton, Canada--(Newsfile Corp. - May 26, 2025) - AuMEGA Metals Ltd (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) ("AuMEGA" or "the Company") is pleased to announce the launch of its spring field exploration program at the Cape Ray Project, alongside the receipt of partial assay results from its winter diamond drill campaign at Bunker Hill, both located along the Cape Ray Shear Zone (CRSZ) in Newfoundland and Labrador, Canada. With a strong cash position of C$13.1 million as at 31 March 2025, the Company is fully funded to execute one of its most ambitious exploration programs to date. This includes extensive follow-up drilling and fieldwork designed to build on recent discoveries and advance the Company's district-scale land package in what is emerging as Canada's next major gold district. AuMEGA Metal's Managing Director and CEO, Sam Pazuki, commented: "Our spring exploration program is now in full swing, and the results from these activities will further sharpen our understanding of this underexplored yet highly prospective gold district. Initial diamond drilling at Bunker Hill West, particularly hole CRD396, has delivered an encouraging intercept that underscores the potential scale and strength of the mineralised system along the Branch Fault. Combined with historical high-grade outcrops and structural data, these results point to a potentially large and generally untested gold system. "These early successes validate our strategic focus on major structural targets off the Cape Ray Shear Zone and demonstrate the value of integrating RC and diamond drilling to effectively vector into high-potential zones. These are areas never tested, and in many cases never explored. Most previous explorers focused exploration efforts on the main CRSZ and within the current mineral deposit zones at Cape Ray. "Drilling is now active testing for new discoveries along strike of those existing resources at Cape Ray, while also advancing new targets at Cape Ray West with support from airborne geophysics. We continue to plan for up to 10,000 metres of drilling however, the amount of metres drilled will be strictly based on success and weather. The Company may elect to drill more or less as the program evolves. "With a strong treasury of C$13.1 million, we are fully funded to execute one of the largest and most systematic exploration programs in our history. We have mobilised teams across multiple targets, are generating significant new data, and are positioning AuMEGA to make meaningful discoveries in what we believe is emerging as Canada's next major gold belt." Figure 1: AuMEGA Metals Bunker Hill Project To view an enhanced version of this graphic, please visit: Partial Diamond Drilling Results During the shortened winter diamond drill program, AuMEGA Metals completed 15 drill holes totaling 3,673 metres. Drilling focused on two key areas: six stratigraphic drill holes were drilled at the Nitty Gritty target, while the remaining holes tested the structural corridor extending between Nitty Gritty and Bunker Hill West (Figure 2). This includes follow-up diamond drill holes that tested encouraging Reverse Circulation (RC) drill anomalies-most notably hole CRC0284, which previously returned a significant insitu gold anomaly of six metres at 0.42 g/t on a major second order structure off the CRSZ2 (Figure 2). The Company has now received assay results from seven diamond drill holes with the remaining nine drill holes expected to be returned over the coming weeks. One of these drill holes confirmed anomalous gold mineralisation associated with the Branch Fault, a major geological structure first identified and reported by the Company in 20243 (Figure 2). A standout result came from diamond drill hole CRD396, which intersected 1.84 g/t gold over 1.0 metre, including a higher-grade interval of 5.58 g/t gold, 96 g/t silver, and 3.64% lead over 0.3 metres from 10 metres (Figure 3). This intercept lies approximately five kilometres east of the historic 18.7 g/t gold outcrop at the intersection of the Branch Fault and the CRSZ, within the Bunker Hill West target area4. This result reinforces the potential for a larger mineralized gold system along the Branch Fault and establishes a promising vector for future exploration (Figure 4). The Company plans to initiate inaugural drilling at Bunker Hill West in mid-2025, leveraging these results to refine its targeting along the Branch Fault. At the Nitty Gritty target, diamond drill hole CRD392 returned one metre at 0.33 g/t gold from 63 metres within a fault zone, confirming the presence of mineralising fluids within the system (Figure 2). Three other drill holes at Nitty Gritty did not return significant mineralisation, however, it has provided valuable structural and geological context that will inform upcoming drill plans within the broader Nitty Gritty target area. Figure 2: Bunker Hill Drill Program Overview To view an enhanced version of this graphic, please visit: Figure 3: Cross Section of reverse circulation (CRC0284) and diamond (CRD396) drill hole traces To view an enhanced version of this graphic, please visit: Figure 4: RC Results Overview and Bunker Hill West Target Area To view an enhanced version of this graphic, please visit: Bunker Hill Next Steps Assay results remain pending for nine diamond drill holes and all 147 RC base-of-till (BOT) holes completed during the winter program. The Company is actively reviewing received assay data and integrating it with historical datasets to refine its targeting strategy for the upcoming summer drill program, scheduled to commence in mid-2025. When drilling resumes at Bunker Hill, the initial focus will be on Bunker Hill West, a high-priority target area that hosts multiple major geological structures - including the Branch Fault - and is the site of historic high-grade gold samples, including 18.7 g/t gold from outcrop5 (Figure 4). In addition to Bunker Hill West, the Company intends to drill several new targets generated from the winter bottom-of-hole (BOH) program, as well as conduct follow-up drilling at Nitty Gritty, where further structural and lithological targets are being refined. The summer field program will also include detailed mapping and systematic rock and soil sampling across underexplored areas of high prospectivity, including the full 20 kilometres of strike the Company holds along the Branch Fault. The recently staked ground south of the CRSZ at Bunker Hill will also be assessed. Both areas of interest have received limited historical exploration6. Cape Ray Field Exploration AuMEGA has officially launched its spring and summer exploration program at the Cape Ray Project, with a dual focus on expanding the existing resource base and identifying new mineralised bodies along strike several kilometres from current deposits. Diamond drilling along strike of the existing mineral resource has commenced. The total drill program planned for Cape Ray is up to 5,000 metres of drilling. Figure 5: Cape Ray Project Exploration Program Overview To view an enhanced version of this graphic, please visit: As part of this effort, the Company is conducting an EM geophysical survey aimed at delineating structural complexity and identifying graphitic schists-host rocks associated with current mineral resources7 (Figure 5). Results from this airborne EM survey are expected in June, and will be integrated with ongoing geological mapping and sampling efforts, particularly across the Cape Ray West area. This zone remains underexplored yet highly prospective, with the potential to host significant new mineral discoveries. In parallel, field teams have been deployed to map and sample regions where prior exploration returned promising results that were never followed up. These efforts are designed to uncover new targets and deepen the Company's understanding of the broader mineralized corridor. RC drilling is expected to commence shortly while heli-supported diamond drilling at Cape Ray West is scheduled for later in June. With a robust cash position of C$13.1 million as at 31 March 2025, AuMEGA is fully funded to execute its expansive 2025 exploration program, spanning multiple high-potential targets across its district-scale land package. This announcement has been authorised for release by the Company's Board of Directors. This release aligns with the requirements of the National Instrument 43-101. A JORC Table 1 is not required under National Instrument 43-101. The Company has included a JORC Table 1 in the ASX version of the news release which can be found on the ASX website at or AuMEGA Metal's website at To learn more about the Company, please visit or contact: Sam Pazuki, Managing Director & CEOCanada Phone: +1 780 665 4925Australia Phone: +61 8 6117 0478Email: info@ About the Company AuMEGA Metals Ltd (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) is utilising best-in-class exploration to explore on its district scale land package that spans 110 kilometers along the Cape Ray Shear Zone, a significant under-explored geological feature recognised as Newfoundland, Canada's largest identified gold structure. This zone currently hosts Calibre Mining's Valentine Gold Project, which is the region's largest gold deposit (+5 million ounces), along with AuMEGA's expanding Mineral Resource. The Company is supported by a diverse shareholder registry of prominent global institutional investors, and strategic investment from B2Gold Corp, a leading, multi-million-ounce a year gold producer. Additionally, AuMEGA holds a 27-kilometre stretch of the highly prospective Hermitage Flexure and has also secured an Option Agreement for the Blue Cove Copper Project in southeastern Newfoundland, which exhibits strong potential for copper and other base metals. AuMEGA's Cape Ray Shear Zone hosts several dozen high potential targets along with its existing defined gold Mineral Resource of 6.1 million tonnes of ore grading an average of 2.25 g/t, totaling 450,000 ounces of Indicated Resources, and 3.4 million tonnes of ore grading an average of 1.44 g/t, totaling 160,000 ounces in Inferred Resources8. AuMEGA acknowledges the financial support of the Junior Exploration Assistance Program, Department of Industry, Energy and Technology, Provincial Government of Newfoundland and Labrador, Canada. Reference to Previous ASX Announcements In relation to this news release, all data used to assess targets have been previously disclosed by the Company and referenced in previous JORC Table 1 releases. Please see announcements dated: Mineral Resource estimate announced on 30 May 2023, Bunker Hill announcements on 16 May 2025, 28 April 2025, 10 April 2025, 25 February 2025, 22 January 2025, 25 November 2024, 15 October 2024, 24 September 2024, 6 April 2023, 22 March 2023,14 April 2021 and 29 October 2020. Cape Ray announcements on 22 January 2025, 11 September 2024, 20 August 2024, 31 July 2024. General announcement dated 3 July 2024. In relation to the Mineral Resource estimate announced on 30 May 2023, the Company confirms that all material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement. Competent Person's Statements The information contained in this announcement that relates to exploration results is based upon information reviewed by Mr. Giles Dodds, Exploration Manager for AuMega Metals. Mr. Giles Dodds is a Member of the Australian Institute of Geoscientists (AIG) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code 2012. Mr. Dodds consents to the inclusion in the announcement of the matters based upon the information in the form and context in which it appears. to the inclusion in the announcement of the matters based upon the information in the form and context in which it appears. For the purposes of the TSXV, the information contained in this announcement that relates to exploration results is based upon information reviewed by Mr. Shamus Duff, P. Geo., Project Geologist, Exploration for AuMEGA Metals. Mr. Duff is a Member of the Professional Engineers and Geoscientists of Newfoundland and Labrador (PEGNL) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration. Mr. Duff consents to the inclusion in the announcement of the matters based upon the information in the form and context in which it appears. to the inclusion in the announcement of the matters based upon the information in the form and context in which it appears. 1 As at 31 March 20252 News release dated 6 May 20253 News release dated 4 July 20244 News releases dated 16 May 2025, 10 April 2025, 15 October 2024, 6 April 2023, 22 March 2023 and 14 April 20215 News releases dated 16 May 2025, 10 April 2025, 15 October 2024, 6 April 2023, 22 March 2023 and 14 April 20216 See ASX Announcement 10 April 20257 News release dated 30 May 20238 News release dated 30 May 2023 To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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06-05-2025
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AuMEGA Metals Identifies Major Structure at Bunker Hill from RC Drilling
Our standout result came from hole CRC284, drilled directly into the Branch Fault, a major structure off the Cape Ray-Valentine Lake Shear Zone. This shallow hole intersected several metres of finely disseminated galena, a key pathfinder for gold at both Cape Ray and Bunker Hill West. Notably, this structure is also the site of a historic 18.7 g/t gold outcrop, reinforcing its prospectivity. The assays confirm that gold is associated with the galena in CRC284, making it the strongest BOH result the Company has drilled to date. "We are highly encouraged by the results from our winter RC program. While bottom-of-hole and basal-till drilling are rarely applied in Canada, they are proven exploration methods in major mining jurisdictions like Australia and Finland, where they've led to significant gold discoveries beneath cover. A total of 147 RC holes were drilled across a key area between the Nitty Gritty and Bunker Hill West targets (refer Figure 1). Assays for BOT samples and diamond drilling from the winter campaign remain pending. Edmonton, Alberta--(Newsfile Corp. - May 6, 2025) - AuMEGA Metals Ltd (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) ("AuMEGA" or "the Company") is pleased to report assay results from the BOH phase of its winter RC and diamond drill program at the Bunker Hill Project, located along the CRSZ in Newfoundland and Labrador, Canada ("Newfoundland"). Diamond drilling resumes in June : Planning 5,000 metres of drilling at the Cape Ray Project beginning in June 2025 and an additional 5,000 metres planned for Bunker Hill beginning in mid-year. Proven BOH drilling methodology: Widely used in Australia and Scandinavia, this approach has been instrumental in the discovery of several major gold deposits, with early-stage results typically ranging from 10 ppb to 2,000 ppb gold (see Table 1). Bedrock gold discovered on a major structure: RC drill hole CRC0284 reported an average of 417 ppb gold over six metres with a peak gold value of 893 ppb gold, silver value of 3.7 g/t and lead of 0.92% on the Branch Fault, a major structure splaying off the Cape Ray Shear Zone ("CRSZ"), and five kilometres along strike from a historic 18 g/t gold outcropping sample. RC drill program completed 147 holes: Shallow drill holes drilled at Bunker Hill to collect base-of-till ("BOT") and bottom-of-hole ("BOH") samples to detect gold in basement. BOT results are pending. Story Continues Following visual inspection, we mobilised a diamond rig and completed two follow-up holes, including one that intersected the Branch Fault at depth. We are awaiting assay results on these two holes as well as the other diamond drill holes and base-of-till samples. Looking ahead, we plan to resume fieldwork in mid-May at Cape Ray, followed by a 5,000-metre diamond drill program starting in June. This campaign will include step-out drilling from existing resources and testing new targets several kilometres from known deposits. In mid-July, we'll return to Bunker Hill for Heli-supported diamond drilling at Bunker Hill West, along with follow-up work at Nitty Gritty and other high-priority targets." Figure 1: AuMEGA Metals Bunker Hill Project To view an enhanced version of this graphic, please visit: RC BOH and BOT Exploration Methodology Reconnaissance-style BOH and BOT RC drilling is a highly effective exploration technique for rapidly screening large, overburden-covered areas. Shallow, grid-pattern drilling targets till and top-of-bedrock samples to pinpoint gold and pathfinder anomalies. While rarely used in Canada, this method mirrors successful Australian rotary air blast ("RAB") and Aircore BOH programs, as well as Scandinavian BOT campaigns - techniques that have driven major discoveries globally (see Table 1). Table 1: Examples of discoveries made through BOH and BOT programs PROJECT OWNER TYPE OF BOH / BOT DRILLING INITIAL RESULTS DEPOSIT SIZE Ikkari Rupert Resources RC Drilling 0.2 ppm gold + 4 Moz gold Gruyere Gold Road / Gold Fields RAB & Aircore Drilling 10 to 100 ppb gold 8 - 10 Moz gold Hemi De Grey Mining Aircore Drilling 2000 ppb gold 10 Moz gold Tropicana Anglo Ashanti Aircore / RC Drilling 200 to 2000 ppb gold 8 - 10 Moz gold Invincible Gold Fields Aircore / RC Drilling 10 ppb gold >5 Moz gold Bunker Hill Winter Drill Program Overview During the 2025 winter program at Bunker Hill, AuMEGA completed 147 RC holes totaling 1,390 metres. The program focused on drilling through glacial cover to sample both the lowermost till and uppermost bedrock. Drillholes were spaced 50 metres apart along 1,200-metre-spaced lines, with an average hole depth of 10 metres and the deepest hole reaching 32 metres. The average till thickness is approximately three metres. Drilling targeted the central corridor of the Bunker Hill Project, between the Nitty Gritty and Bunker Hill West targets (refer Figure 2), an area underlain by several high-potential structures identified in geophysics and near historic base metal anomalies in overburden samples1. Figure 2: Bunker Hill Drill Program Overview To view an enhanced version of this graphic, please visit: RC Drilling Returns Strong Gold and Base Metal Anomalies at Bunker Hill The RC BOH program at Bunker Hill returned multiple anomalous gold intervals, considered significant for this early-stage style of exploration. All BOH assay results have been received, with results from the BOT samples pending. A standout result came from hole CRC0284, which returned a weighted average of 417 ppb gold over six metres from two metres downhole, with mineralisation starting at the overburden-bedrock interface (refer Figure 3). The drill hole was consistently mineralised with fine disseminated galena, considered a key pathfinder for gold on the CRSZ. Notable intervals from CRC0284 include: 2 to 3 metres: 789 ppb Au, 0.72 g/t Ag, 0.27% Pb, 0.23% Zn 3 to 4 metres: 246 ppb Au, 1.23 g/t Ag, 0.18% Pb 4 to 5 metres: 374 ppb Au, 2.43 g/t Ag, 0.51% Pb, 0.49% Zn 5 to 6 metres: 49 ppb Au, 1.21 g/t Ag, 0.46% Pb, 0.41% Zn 6 to7 metres: 191 ppb Au, 0.84 g/t Ag, 0.30% Pb, 0.28% Zn 7 to 8 metres: 853 ppb Au, 3.71 g/t Ag, 0.93% Pb, 0.31% Zn Comparing these results to the initial results illustrated in Table 1, demonstrates the significance of the BOH results from the Company's winter BOH RC drill program. Figure 3: CRC0284 RC Chip Samples To view an enhanced version of this graphic, please visit: CRC0284 was drilled into the Branch Fault and is located just five kilometres from a historic outcrop sample grading 18.7 g/t gold, also associated with galena. Visual inspection of RC chips confirmed quartz veining and base metal sulphides hosted in felsic granite2, consistent with previous discoveries at Bunker Hill West (see Figure 4). Following these results, the Company mobilized a diamond drill rig to test the structure at depth, completing two follow-up diamond holes below CRC284 (see Figure 4). Assay results from these diamond holes are pending. Figure 4: Cross Section of CRC284 and Diamond Drill traces (Assays Pending) To view an enhanced version of this graphic, please visit: Other Anomalous Samples In addition to CRC0284, three other RC holes returned significant gold anomalism. Notably, CRC0215, CRC0216, and CRC0273 intersected 219ppb, 129ppb, and 160ppb gold respectively in bedrock along a splay structure off the CRSZ, located between a gabbroic unit to the north and the Billard's sedimentary formation to the south (refer Figure 5). This setting is a strong rheological structure that is conducive for hosting mineralised systems. An example of this is on the CRSZ at the Company's high-grade Isle aux Morts deposit where it is hosted in similar sediments on the contact with a gabbro3. Figure 5: RC Results Overview and Bunker Hill West Target Area To view an enhanced version of this graphic, please visit: Diamond Drilling Update AuMEGA completed 14 diamond drill holes totalling 3,670 metres as part of its winter program (refer Figure 2). Five drill holes targeted the Nitty Gritty area, while other holes were drilled along the corridor between Nitty Gritty and Bunker Hill West, including follow-ups to encouraging RC rock chip visuals - most notably, CRC0284, which returned a significant BOH gold anomaly. To date, samples for five diamond drill holes have been received by the laboratory for assay, including CRD397, which tested the Branch Fault directly beneath CRC0284. Remaining diamond drill holes are being logged and processed and samples submittal to the laboratory is ongoing. Assay results for all submitted diamond drill holes are pending. Next Steps While AuMEGA is finalising delivery of remaining core samples and awaiting final results, exploration field work is set to resume at the Cape Ray Project in mid-May 2025. The Company will also be completing an airborne electromagnetic survey over the Cape Ray Project from the Isle Aux Morts zone to Cape Ray West. In June, the Company expects to begin a 5,000-metre diamond drill program at Cape Ray. The Company will continue to evaluate results from the winter drill program to refine targets for the next phase of exploration at Bunker Hill, which is expected to resume in mid-July. Initial drilling focus will be on Bunker Hill West, with additional drilling and ground-based exploration planned across the broader project area. With C$13.1 million in cash reported at the end of the first quarter of 20254, the Company is fully funded to complete its planned, major 2025 exploration program. This announcement has been authorised for release by the Company's Board of Directors. This release aligns with the requirements of the National Instrument 43-101. A JORC Table 1 is not required under National Instrument 43-101. The Company has included a JORC Table 1 in the ASX version of the news release which can be found on the ASX website at or AuMEGA Metal's website at To learn more about the Company, please visit or contact: Sam Pazuki, Managing Director & CEO Canada Phone: +1 780 665 4925 Australia Phone: +61 8 6117 0478 Email: info@ About the Company AuMEGA Metals Ltd (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) is utilising best-in-class exploration to explore on its district scale land package that spans 110 kilometers along the Cape Ray Shear Zone, a significant under-explored geological feature recognised as Newfoundland, Canada's largest identified gold structure. This zone currently hosts Calibre Mining's Valentine Gold Project, which is the region's largest gold deposit (+5 million ounces), along with AuMEGA's expanding Mineral Resource. The Company is supported by a diverse shareholder registry of prominent global institutional investors, and strategic investment from B2Gold Corp, a leading, multi-million-ounce a year gold producer. Additionally, AuMEGA holds a 27-kilometre stretch of the highly prospective Hermitage Flexure and has also secured an Option Agreement for the Blue Cove Copper Project in southeastern Newfoundland, which exhibits strong potential for copper and other base metals. AuMEGA's Cape Ray Shear Zone hosts several dozen high potential targets along with its existing defined gold Mineral Resource of 6.1 million tonnes of ore grading an average of 2.25 g/t, totaling 450,000 ounces of Indicated Resources, and 3.4 million tonnes of ore grading an average of 1.44 g/t, totaling 160,000 ounces in Inferred Resources5. AuMEGA acknowledges the financial support of the Junior Exploration Assistance Program, Department of Industry, Energy and Technology, Provincial Government of Newfoundland and Labrador, Canada. Reference to Previous Announcements In relation to this news release, all data used to assess targets have been previously disclosed by the Company and referenced in previous JORC Table 1 releases. Please see announcements dated: Mineral Resource estimate announced on 30 May 2023, Bunker Hill announcements on 28 April 2025, 10 April 2025, 25 February 2025, 22 January 2025, 25 November 2024, 15 October 2024, 24 September 2024, 6 April 2023, 22 March 2023,14 April 2021 and 29 October 2020. In relation to the Mineral Resource estimate announced on 30 May 2023, the Company confirms that all material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement. Competent Person's Statements The information contained in this announcement that relates to exploration results is based upon information reviewed by Mr. Rick Greenwood, P. Geo., Vice President of Exploration for AuMEGA Metals. Mr. Greenwood is a Member of the Professional Geoscientists of Ontario (PGO) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code 2012. Mr. Greenwood consents to the inclusion in the announcement of the matters based upon the information in the form and context in which it appears. to the inclusion in the announcement of the matters based upon the information in the form and context in which it appears. 1 Refer to news release dated 22 January 2025 2 Refer to news release dated 22 March 2023 3 Refer to ASX release 30 May 2023 4 News release dated 28 April 2025 5 ASX Announcement 30 May 2023 To view the source version of this press release, please visit
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23-04-2025
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AuMEGA Metals Strengthens Leadership Team with Appointment of Mike Skead as President
Edmonton, Alberta--(Newsfile Corp. - April 23, 2025) - AuMEGA Metals Ltd (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) ("AuMEGA" or "the Company") is pleased to announce the appointment of Mike Skead as President, effective 1 May 2025. As President, Mr. Skead will serve as a senior executive reporting directly to the Managing Director and CEO. He will drive the Company's exploration strategy, lead the exploration team and be fully accountable for delivery all exploration activities designed to unlock further shareholder value. AuMEGA Metal's Managing Director and CEO, Sam Pazuki commented: "I am thrilled to welcome Mike as President of AuMEGA. Mike is a globally recognized geologist with an outstanding track record of discoveries and value creation. He recently played a pivotal role at GT Gold Corp., which Newmont Corp. acquired for nearly C$400 million in 2021. His extensive senior management experience at industry leaders such as Newmont, Goldcorp, Dundee Resources, and Ashanti Goldfields will significantly enhance our operational capabilities. Mike's expertise in leading large-scale exploration programs in remote locations positions AuMEGA perfectly for breakthrough discoveries in Newfoundland." Incoming President, Mike Skead stated: "I'm extremely excited to join AuMEGA, a company I've admired for its disciplined and strategic exploration approach. AuMEGA holds a strong mineral resource base and controls highly prospective, district-scale projects that I believe represent Canada's next major mining district. Supported by strategic investors like B2Gold and top-tier institutional shareholders, AuMEGA is uniquely positioned to capitalize on the increasing M&A activity in the prolific Cape Ray/Valentine Lake Shear Zone. I look forward to collaborating with Sam and the exceptional geology team to accelerate exploration success and deliver significant value to our shareholders." About Mike Skead Mike Skead brings over 30 years of international exploration and mining development expertise, holding key leadership positions at top global mining companies. Mr. Skead holds a BSc (Honours) in Geology from the University of Cape Town and an MSc in Exploration Geology from Rhodes University. He specializes in various deposit types, including orogenic lode gold, copper-gold porphyry, epithermal gold-silver, and sediment-hosted gold systems. Prior to joining AuMEGA, Mr. Skead served as Vice President of Project Development at GT Gold Corp., Director of Geoscience at Newmont Corp., and held senior roles at Goldcorp, Dundee Resources, Banro Corporation, Ashanti Goldfields, SAMAX Resources Ltd. and Genmin. This announcement has been authorised for release by the Company's Board of Directors. To learn more about the Company, please visit or contact: Sam Pazuki, Managing Director & CEO Canada Phone: +1 780 665 4925 Australia Phone: +61 8 6117 0478 Email: info@ About the Company AuMEGA Metals Ltd (ASX: AAM | TSXV: AUM | OTCQB: AUMMF) is utilising best-in-class exploration to explore on its district scale land package that spans 110 kilometers along the Cape Ray Shear Zone, a significant under-explored geological feature recognised as Newfoundland, Canada's largest identified gold structure. This zone currently hosts Calibre Mining's Valentine Gold Project, which is the region's largest gold deposit (+5 million ounces), along with AuMEGA's expanding Mineral Resource. The Company is supported by a diverse shareholder registry of prominent global institutional investors, and strategic investment from B2Gold Corp, a leading, multi-million-ounce a year gold producer. Additionally, AuMEGA holds a 27-kilometre stretch of the highly prospective Hermitage Flexure and has also secured an Option Agreement for the Blue Cove Copper Project in southeastern Newfoundland, which exhibits strong potential for copper and other base metals. AuMEGA's Cape Ray Shear Zone hosts several dozen high potential targets along with its existing defined gold Mineral Resource of 6.1 million tonnes of ore grading an average of 2.25 g/t, totaling 450,000 ounces of Indicated Resources, and 3.4 million tonnes of ore grading an average of 1.44 g/t, totaling 160,000 ounces in Inferred Resources1. AuMEGA acknowledges the financial support of the Junior Exploration Assistance Program, Department of Industry, Energy and Technology, Provincial Government of Newfoundland and Labrador, Canada. _________________________ [1] ASX Announcement 30 May 2023 To view the source version of this press release, please visit Sign in to access your portfolio
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10-04-2025
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AuMEGA Announces Strategic Expansion of Bunker Hill, Winter Program Update and Multigram Gold from Blue Cove
Key Highlights Bunker Hill Winter Drilling Nearing Completion: ~3,600 metres drill to-date; program wraps up 22 April 2025. Bunker Hill Summer to Resume in July: Diamond drilling to restart with the goal of completing up to 10,000 metres. Bunker Hill Winter Assays Pending: Results from winter RC and diamond drilling expected shortly, with consistent news flow to follow. Strategic Bunker Hill Project Expansion: New claims staked south of Bunker Hill provide full strike extent of primary shear zone. Cape Ray Spring and Summer Exploration: Exploration to target undrilled zones at Central Zone SW and Cape Ray West. Blue Cove Gold Sample: Highest-ever gold assay (2.57 g/t Au) recorded during first-pass prospecting. District-Scale Upside: Multiple underexplored targets across a highly prospective land package. Edmonton, Calgary--(Newsfile Corp. - April 10, 2025) - AuMEGA Metals Ltd. (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) ("AuMEGA" or "the Company") is pleased to provide a project update as its 2025 winter drill program at the Bunker Hill Project approaches completion. The Company also reports a significant gold sample from early-stage work at its Blue Cove Project, underscoring the untapped potential across its growing Newfoundland portfolio. AuMEGA Metal's Managing Director and CEO, Sam Pazuki, commented: "Bunker Hill is a top-tier priority project for the Company. For the winter program to-date, we drilled approximately 3,600 metres of combined diamond and RC drilling at Nitty Gritty and a broad area located between Nitty Grity and Bunker Hill West. To-date, we have drilled 12 diamond drill holes while continuing the drilling. Five of these holes were located in Nitty Gritty and just under 150 RC holes have been completed. While we didn't complete the full winter drill program due to early seasonal changes and early inclement weather conditions, what we have achieved merely scratches the surface of the potential we continue to see at Bunker Hill. During the program, I was pleased to see that we demonstrated proof of concept as one diamond drill remained dynamic by moving to areas of interest identified by the RC drilling. This included an area approximately four kilometres away from the high-priority Bunker Hill West. "Once the winter program at Bunker Hill is complete, we will be ready to return there in July 2025 to complete as much of the remaining program as possible and depending on results and weather conditions, potentially more. Bunker Hill is a vast area with a significant amount of ground still left to explore. Assay results from the initial winter drilling are expected shortly, with a steady stream of results to follow. "We are also pleased to announce the strategic expansion of the Bunker Hill project area by staking the mineral claims south of the project boundary. The Company identified these claims as high priority following the technical workshop we completed with Brett Davis, B2Gold and our team in July of 2024. These claims provide the business with the full strike extent of the primary Cape Ray / Valentine Lake Shear at Bunker Hill and specifically in an area that we regard as highly prospective given key geological formations that may be conducive to support large deposit formations. "Beyond Bunker Hill, we're excited to ramp up exploration at Cape Ray later this May. Our program includes prospecting, geophysics, and drilling across previously undrilled zones, including the southwest extension of the Central Zone and Cape Ray West. These are underexplored areas within the highly prospective Windsor Point Group, the same geology that hosts our existing high-grade mineral resource. "Finally, our first pass prospecting at Blue Cove has already delivered a milestone by returning the highest gold grade ever recorded on the property. It's a strong early signal, and we're planning follow-up work later this year, including focused exploration around the site of the project's highest-grade copper samples. "We remain confident in the exceptional prospectivity of our land package - confidence that is echoed by growing interest from major gold companies across the belt. This momentum began with B2Gold's landmark investment in 2022 - their first in Canada - and their continued participation in subsequent financings. It has since expanded to include a joint venture by Eldorado Gold adjacent to our property1, and most recently, Calibre Mining's acquisition of Marathon Gold and announced merger with Equinox Gold2. Together, we see these moves as strong signals of increasing recognition of the region as an emerging gold district." FIGURE 1: AUMEGA METALS BUNKER HILL view an enhanced version of this graphic, please visit: Bunker Hill Project Update The 2025 winter drill program at Bunker Hill will conclude on 22 April 2025, with equipment demobilisation already underway due to earlier-than-anticipated mild weather conditions. At its peak, operations included two diamond drill rigs and one RC rig. Currently, one diamond drill rig remains active at the Bunker Hill site. Despite weather-related challenges shortening the planned drilling program, the Company successfully completed 12 diamond drill holes, primarily focused on the Nitty Gritty target, and 147 RC holes in the areas between Nitty Gritty and Bunker Hill West. In total, nearly 3,600 metres of drilling have been achieved. Diamond drilling activities are scheduled to resume at Bunker Hill in July 2025, with the objective of completing the originally targeted drilling metres. The Company was unable to drill the high priority Bunker Hill West target and plans to do so when drilling activities resume. The Company will also capitalize on the existing winter camp infrastructure to advance additional exploration initiatives during the summer months. Samples from numerous RC holes and initial diamond drill holes have already been submitted to the laboratory for fire assay analysis. Initial assay results are anticipated shortly, with a steady flow of additional results expected over the subsequent weeks. FIGURE 2: BUNKER HILL DRILL PROGRAM3. To view an enhanced version of this graphic, please visit: Bunker Hill Mineral Claims Acquired The Company expanded the Bunker Hill Project area footprint by strategically staking claims that recently became available for staking. These claims were identified by the Company and its external experts as highly prospective. These claims provide the Company with the full strike extent of the primary structure, adds a larger area of influence around its claims and also encapsulates a number of north-south trending, cross cutting brittle structures identified in the high-resolution geophysics completed by the Company in 20244. In total, the Company staked 173 claims on 8 April 2025, incorporating 43 km2 on the southern margin of the Bunker Hill project area. FIGURE 3: RECENTLY STAKED CLAIMS AT BUNKER HILL. IMAGE IS REDUCED TO POLE AIRBORNE view an enhanced version of this graphic, please visit: Blue Cove Prospecting At the end of 2024, the Company completed a limited yet broad reconnaissance prospecting program on the optioned Blue Cove Project, located on the Burin Peninsula, Newfoundland. Blue Cove is another large project area with a strike length of approximately 25 kilometres. A total of 22 rock samples were collected, with assay results that range from trace up to a peak gold value of 2.57 g/t (MR001961). This specific sample was collected from a previously unsampled and unexplored area of the property, marking the highest gold assay ever recorded at Blue Cove. In addition to this highlight, Sample MR001953 returned 302 ppb gold from the northeastern tip of the claims. Both samples were taken from quartz veins measuring 1 to 1.5 metres in width, hosted within mafic volcanic rocks. The widespread veining observed in these central outcrops is highly encouraging and underscores the potential for broader mineralisation across the project area. Due to access limitations, the Company was unable to sample the historic Blue Cove copper-silver showing during this program - an area where past samples returned grades of up to 10.6% copper and 106 g/t silver5. Follow-up fieldwork is planned to further evaluate this high-priority target. FIGURE 4: BLUE COVE PROSPECTING SAMPLE LOCATION6. To view an enhanced version of this graphic, please visit: Next Steps Drilling at Bunker Hill will continue until demobilization ahead of the 22 April 2025 project completion. With assays pending, the Company is steadily delivering additional core samples to the lab, with results expected in the coming weeks. Once received, results will be analyzed to inform the next phase of exploration, with drilling set to resume at Bunker Hill in July 2025. Through the remainder of April, the Company will focus on analyzing data and finalizing detailed plans for its spring and summer exploration programs. Fieldwork at the Cape Ray Project is expected to begin in May 2025, potentially including RC drilling, with diamond drilling targeted to commence in June. This announcement has been authorised for release by the Company's Board of Directors. This release aligns with the requirements of the National Instrument 43-101. A JORC Table 1 is not required under National Instrument 43-101. The Company has included a JORC Table 1 in the ASX version of the news release which can be found on the ASX website at or AuMEGA Metal's website at To learn more about the Company, please visit or contact: Sam Pazuki, Managing Director & CEOCanada Phone: +1 780 665 4925Australia Phone: +61 8 6117 0478Email: info@ About the Company AuMEGA Metals Ltd. (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) is utilising best-in-class exploration to explore on its district scale land package that spans 110 kilometers along the Cape Ray Shear Zone, a significant under-explored geological feature recognised as Newfoundland, Canada's largest identified gold structure. This zone currently hosts Calibre Mining's Valentine Gold Project, which is the region's largest gold deposit (+5 million ounces), along with AuMEGA's expanding Mineral Resource. The Company is supported by a diverse shareholder registry of prominent global institutional investors, and strategic investment from B2Gold Corp, a leading, multi-million-ounce a year gold producer. Additionally, AuMEGA holds a 27-kilometre stretch of the highly prospective Hermitage Flexure and has also secured an Option Agreement for the Blue Cove Copper Project in southeastern Newfoundland, which exhibits strong potential for copper and other base metals. AuMEGA's Cape Ray Shear Zone hosts several dozen high potential targets along with its existing defined gold Mineral Resource of 6.1 million tonnes of ore grading an average of 2.25 g/t, totaling 450,000 ounces of Indicated Resources, and 3.4 million tonnes of ore grading an average of 1.44 g/t, totaling 160,000 ounces in Inferred Resources7. AuMEGA acknowledges the financial support of the Junior Exploration Assistance Program, Department of Industry, Energy and Technology, Provincial Government of Newfoundland and Labrador, Canada. Reference to Previous ASX Announcements In relation to this news release, all data used to assess targets have been previously disclosed by the Company and referenced in previous JORC Table 1 releases. Please see announcements dated: Mineral Resource estimate announced on 30 May 2023, Bunker Hill announcements on 22 January 2025, 25 November 2024, 15 October 2024, 24 September 2024, 6 April 2023, 22 March 2023,14 April 2021 and 29 October 2020. In relation to the Mineral Resource estimate announced on 30 May 2023, the Company confirms that all material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement. Competent Person's Statements The information contained in this announcement that relates to exploration results is based upon information reviewed by Mr. Rick Greenwood, P. Geo., Vice President of Exploration for AuMEGA Metals. Mr. Greenwood is a Member of the Professional Geoscientists of Ontario (PGO) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code 2012. Mr. Greenwood consents to the inclusion in the announcement of the matters based upon the information in the form and context in which it appears. to the inclusion in the announcement of the matters based upon the information in the form and context in which it appears. 1 Tru Precious Metals News Release dated 30 July 2024 2 Calibre Mining News Releases dated 13 November 2023 and 23 February 20253 Refer news releases dated 15 October 2024, 6 April 2023, 22 March 2023 and 14 April 20214 Refer news release dated 24 October 20245 Refer News release dated 1 May 20246 Refer news release dated 1 May 20247 ASX Announcement 30 May 2023 To view the source version of this press release, please visit
Yahoo
25-02-2025
- Business
- Yahoo
AuMEGA Announces Commencement of its Winter Drill Program at Bunker Hill
Key Highlights Commenced with diamond drilling at Nitty Gritty targets with two diamond drill rigs. Drilling commences following a short delay related to inclement winter weather in Newfoundland and Labrador. Reverse Circulation ("RC") drill rig currently on site and expected to commence drilling the first bottom-of-hole / basal till sample in the near term. Edmonton, Alberta--(Newsfile Corp. - February 25, 2025) - AuMEGA Metals Ltd (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) ("AuMEGA" or "the Company") is pleased to announce the start of its 2025 winter drill program at Bunker Hill located along the Cape Ray / Valentine Shear in south central Newfoundland and Labrador, Canada. AuMEGA Metal's Managing Director and CEO, Sam Pazuki commented: "We are excited to kick-off our winter drill program at Bunker Hill. This comes following a short delay due to inclement weather that prevented the safe start-up of drilling activities. Despite the brief weather-related delay, we've adapted by launching with diamond drilling and mobilising a second rig to stay on track with our high-priority targets. RC drilling will follow soon, focusing on basal till / bottom-of-hole in key areas. "At this stage, our winter program remains on course for approximately 10,000 metres of drilling, with final totals depending on results and weather. We are initially drilling targets at Nitty Gritty, the site of our high-grade copper and silver outcropping samples that we previously reported. Drilling will then move to Bunker Hill West, the site of historic high-grade gold samples in outcrop and where the Company's recent geophysical survey highlighted significant structural complexity. We anticipate assay results from drill core and RC rock chips to start arriving by mid-to-late March and regularly well into the second quarter of 2025 as our program progresses." FIGURE 1: AUMEGA METALS PROJECTS OVERVIEW To view an enhanced version of this graphic, please visit: FIGURE 2: BUNKER HILL PROPOSED DRILL PROGRAM DESIGN[1] To view an enhanced version of this graphic, please visit: FIGURE 3: BUNKER HILL WINTER ACCESS To view an enhanced version of this graphic, please visit: FIGURE 4: BUNKER HILL WINTER PROGRAM FIRST COLLAR To view an enhanced version of this graphic, please visit: FIGURE 5: BUNKER HILL WINTER PROGRAM LOGISTICS To view an enhanced version of this graphic, please visit: This announcement has been authorised for release by the Company's Board of Directors. To learn more about the Company, please visit or contact: Sam Pazuki, Managing Director & CEOCanada Phone: +1 780 665 4925Australia Phone: +61 8 6117 0478Email: info@ About the Company AuMEGA Metals Ltd (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) is utilising best-in-class exploration to explore on its district scale land package that spans 110 kilometers along the Cape Ray Shear Zone, a significant under-explored geological feature recognised as Newfoundland, Canada's largest identified gold structure. This zone currently hosts Calibre Mining's Valentine Gold Project, which is the region's largest gold deposit (+5 million ounces), along with AuMEGA's expanding Mineral Resource. The Company is supported by a diverse shareholder registry of prominent global institutional investors, and strategic investment from B2Gold Corp, a leading, multi-million-ounce a year gold producer. Additionally, AuMEGA holds a 27-kilometre stretch of the highly prospective Hermitage Flexure and has also secured an Option Agreement for the Blue Cove Copper Project in southeastern Newfoundland, which exhibits strong potential for copper and other base metals. AuMEGA's Cape Ray Shear Zone hosts several dozen high potential targets along with its existing defined gold Mineral Resource of 6.1 million tonnes of ore grading an average of 2.25 g/t, totaling 450,000 ounces of Indicated Resources, and 3.4 million tonnes of ore grading an average of 1.44 g/t, totaling 160,000 ounces in Inferred Resources[2]. AuMEGA acknowledges the financial support of the Junior Exploration Assistance Program, Department of Industry, Energy and Technology, Provincial Government of Newfoundland and Labrador, Canada. Reference to Previous ASX Announcements In relation to this news release, all data used to assess targets have been previously disclosed by the Company and referenced in previous JORC Table 1 releases. Please see announcements dated: Mineral Resource estimate announced on 30 May 2023, Bunker Hill announcements on 22 January 2025, 25 November 2024, 15 October 2024, 24 September 2024, 6 April 2023, 22 March 2023,14 April 2021 and 29 October 2020. In relation to the Mineral Resource estimate announced on 30 May 2023, the Company confirms that all material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement. Competent Person's Statements The information contained in this announcement that relates to exploration results is based upon information reviewed by Mr. Rick Greenwood, P. Geo., Vice President of Exploration for AuMEGA Metals. Mr. Greenwood is a Member of the Professional Geoscientists of Ontario (PGO) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code 2012. Mr. Greenwood consents to the inclusion in the announcement of the matters based upon the information in the form and context in which it appears. to the inclusion in the announcement of the matters based upon the information in the form and context in which it appears. [1] See news releases dated 22 January 2025, 24 November 2024, 15 October 2024, 24 September 2024, 6 April 2023, 22 March 2023,14 April 2021& 29 October 2020 [2] ASX Announcement 30 May 2023 To view the source version of this press release, please visit Sign in to access your portfolio
