On August 19, 2024, AuMEGA Metals Ltd. announced the initiation of phase two of diamond drilling on the Cape Ray Shear Zone in Newfoundland, Canada. This phase of drilling will primarily target Greenfield areas at Malachite, following the successful Reverse Circulation (RC) drill program conducted during the winter months. The exploration efforts aim to identify large mineralized zones within the target areas.
The Company’s Managing Director and CEO, Sam Pazuki, expressed enthusiasm for the second phase of diamond drilling. He highlighted the identification of mineralized zones at Malachite through the RC program and the subsequent detailed analysis that led to the selection of drill targets. Specifically, drilling will focus on areas like O-2 West, O-2 East, and O-2 North, based on the results of the RC program and previous geochemical anomalies.
The first phase of diamond drilling was completed in July 2024, with assay results expected in the coming weeks. Additionally, a till survey at the Intersection Project and an airborne magnetic geophysical survey at the Bunker Hill Project have been conducted, with assay results anticipated in the near future. Looking ahead, an airborne survey is planned for the high-grade gold/antimony area at Hermitage in the fall of 2024.
AuMEGA Metals Ltd. is a mining exploration company with a focus on the Cape Ray Shear Zone in Newfoundland, Canada. The company’s exploration efforts cover a vast land package along the shear zone, where significant gold deposits have been identified. Supported by institutional investors and strategic partnerships, AuMEGA Metals Ltd. aims to unlock the full potential of its mineral resources in the region.
This press release contains important updates from AuMEGA Metals Ltd. and has been approved for release by the Company’s Board of Directors. The Company’s exploration activities are part of a comprehensive strategy to maximize the value of its mineral resources and contribute to the growth of the mining sector in Newfoundland, Canada.
