AuMEGA Announces Start of Phase Two Diamond Drilling
AuMEGA Metals (ASX: AAM, TSXV: AUM, OTCQB: AUMMF) has commenced phase two of diamond drilling on the Cape Ray Shear Zone in Newfoundland, Canada. The focus is on Greenfield targets at Malachite, with plans to drill 2,000-3,000 meters. Key highlights include:
1. Drilling targets at Malachite based on large, mineralized zones identified in the winter RC drill program.
2. Phase one diamond drilling completed in July 2024, with assays expected soon.
3. Till survey completed at the Intersection Project.
4. Airborne magnetic survey underway at Bunker Hill Project.
5. Airborne survey planned for Hermitage in autumn 2024.
The company is particularly excited about the O-2 West area, where RC drilling found 627 ppb gold and 1.99% copper in bedrock just seven meters below surface.
AuMEGA Metals (ASX: AAM, TSXV: AUM, OTCQB: AUMMF) ha avviato la fase due di perforazione a diamante nella Cape Ray Shear Zone in Newfoundland, Canada. L'obiettivo è sui target Greenfield a Malachite, con piani per perforare tra i 2.000 e i 3.000 metri. I punti salienti includono:
1. Target di perforazione a Malachite basati su ampie zone mineralizzate identificate nel programma di perforazione RC invernale.
2. La fase uno della perforazione a diamante è stata completata a luglio 2024, con risultati attesi a breve.
3. Indagine di till completata presso il Intersection Project.
4. Indagine magnetica aerea in corso presso il Bunker Hill Project.
5. Indagine aerea programmata per Hermitage nell'autunno del 2024.
L'azienda è particolarmente entusiasta dell'area O-2 West, dove la perforazione RC ha trovato 627 ppb di oro e 1,99% di rame nella roccia madre a soli sette metri di profondità.
AuMEGA Metals (ASX: AAM, TSXV: AUM, OTCQB: AUMMF) ha comenzado la fase dos de perforación con diamante en la Zona de Corte Cape Ray en Newfoundland, Canadá. El enfoque está en los objetivos Greenfield en Malachite, con planes para perforar entre 2,000 y 3,000 metros. Los puntos destacados incluyen:
1. Objetivos de perforación en Malachite basados en grandes zonas mineralizadas identificadas en el programa de perforación RC invernal.
2. La fase uno de la perforación diamante se completó en julio de 2024, con análisis esperados pronto.
3. Encuesta de till completada en el Intersection Project.
4. Encuesta magnética aérea en curso en el Bunker Hill Project.
5. Encuesta aérea planificada para Hermitage en otoño de 2024.
La empresa está especialmente emocionada por el área O-2 West, donde la perforación RC encontró 627 ppb de oro y 1.99% de cobre en la roca madre a solo siete metros de profundidad.
AuMEGA Metals (ASX: AAM, TSXV: AUM, OTCQB: AUMMF)가 캐나다 뉴펀들랜드의 Cape Ray Shear Zone에서 다이아몬드 시추 2단계를 시작했습니다. 목표는 Malachite의 Greenfield 타겟에 있으며, 2,000~3,000미터를 시추할 계획입니다. 주요 내용은 다음과 같습니다:
1. 겨울 RC 시추 프로그램에서 확인된 대규모 광물화 지대를 기반으로 Malachite의 시추 타겟.
2. 2024년 7월에 완료된 1단계 다이아몬드 시추, 곧 분석 결과가 예상됩니다.
3. Intersection 프로젝트에서 완료된 틸 조사.
4. Bunker Hill 프로젝트에서 진행 중인 항공 자기 조사.
5. 2024년 가을 Hermitage에 대한 항공 조사 계획.
회사는 특히 O-2 West 지역에 대해 기쁘게 생각하고 있으며, RC 시추에서 지표 아래 7미터에서 627 ppb의 금과 1.99%의 구리를 발견했습니다.
AuMEGA Metals (ASX: AAM, TSXV: AUM, OTCQB: AUMMF) a commencé la phase deux de forage au diamant dans la Cape Ray Shear Zone à Terre-Neuve, Canada. L'accent est mis sur les cibles Greenfield à Malachite, avec des plans de forage de 2 000 à 3 000 mètres. Les points clés incluent :
1. Cibles de forage à Malachite basées sur de grandes zones minéralisées identifiées lors du programme de forage RC hivernal.
2. Phase un du forage au diamant terminée en juillet 2024, avec des résultats attendus prochainement.
3. Enquête sur le till terminée au Intersection Project.
4. Enquête magnétique aérienne en cours au Bunker Hill Project.
5. Enquête aérienne prévue pour Hermitage à l'automne 2024.
L'entreprise est particulièrement enthousiasmée par la zone O-2 West, où le forage RC a trouvé 627 ppb d'or et 1,99 % de cuivre dans la roche mère, à seulement sept mètres de profondeur.
AuMEGA Metals (ASX: AAM, TSXV: AUM, OTCQB: AUMMF) hat mit Phase zwei der Diamantbohrungen in der Cape Ray Shear Zone in Neufundland, Kanada, begonnen. Der Fokus liegt auf Greenfield-Zielen in Malachite, mit dem Plan, 2.000 bis 3.000 Meter zu bohren. Die wichtigsten Highlights sind:
1. Bohrziele in Malachite basierend auf großen mineralisierten Zonen, die im Winter-RC-Bohrprogramm identifiziert wurden.
2. Die Phase eins der Diamantbohrungen wurde im Juli 2024 abgeschlossen, Ergebnisse werden bald erwartet.
3. Till-Untersuchung im Intersection Project abgeschlossen.
4. Luftgestützte Magnetuntersuchung im Gange beim Bunker Hill Project.
5. Luftgestützte Untersuchung für Hermitage im Herbst 2024 geplant.
Das Unternehmen ist besonders begeistert von dem Gebiet O-2 West, wo bei der RC-Bohrung 627 ppb Gold und 1,99 % Kupfer in der Grundgestein gefunden wurden, nur sieben Meter unter der Oberfläche.
- Commencement of phase two diamond drilling, targeting 2,000-3,000 meters
- Successful winter RC drill program identified three large mineralized zones at Malachite
- Promising results from O-2 West area with 627 ppb gold and 1.99% copper in bedrock
- Ongoing exploration activities across multiple projects (Intersection, Bunker Hill, Hermitage)
- None.
Key Highlights
Phase two of diamond drilling has commenced with primary focus on Greenfield targets at Malachite
Drill targets at Malachite focused on large, mineralised zones identified through the highly successful winter Reverse Circulation ("RC") drill program
Phase one of diamond drilling completed at the end of July 2024 with assays expected over the next couple of weeks
Till survey over highly prospective Intersection Project completed recently with assays expected over the course of the next several weeks
Airborne magnetic geophysical survey over highly prospective Bunker Hill Project currently underway along with prospecting and mapping
Airborne survey over the highly prospective, high-grade gold/antimony at Hermitage is expected to commence in the Canadian autumn of 2024
Edmonton, Alberta--(Newsfile Corp. - August 19, 2024) - AuMEGA Metals Ltd (formerly Matador Mining Ltd) (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) ("AuMEGA" or "the Company") is pleased to announce the start of the second phase of diamond drilling on the Cape Ray Shear Zone ("CRSZ") located in Newfoundland, Canada. The primary focus of this diamond drilling is on Greenfield targets at Malachite. The Company expects to drill between 2,000 and 3,000 metres and the total meterage will be based on results and weather conditions.
AuMEGA Metal's Managing Director and CEO, Sam Pazuki commented:
"We are very excited for this second phase of diamond drilling. Our highly successful RC winter drill program identified three, large, mineralised zones at Malachite and through our targeting workshop and detailed analysis, we have identified several drill targets within two of these zones. Our primary focus and initial drill targets are at the O-2 West area. Here, the RC program delivered the best bedrock sample and a series of additional holes on the same line and across multiple RC lines. One hole delivered 627 ppb gold along with
"In addition to O-2 West, we will be diamond drilling the O-2 East target, which was the site of the next best RC holes from the winter program and an area with significant geochemical anomalies as well as structural complexity. Additionally, we seek to drill O-2 North, which in2022, delivered one of the highest gold grain counts from a sample in Newfoundland. This drilling will target several structures splaying off the main O-2 target. As always, the number of drillholes and the amount of drilling we do will be based on results. Assay results from this drilling would be expected over a period of six to eight weeks.
"The Company completed the first phase of diamond drilling a few weeks ago at the end of July. Final assay results from this program are expected over the course of the next couple weeks. The till survey work at Intersection was completed recently and results from this work is expected in four to six weeks. Meanwhile, after some unexpected delays with equipment arrival, the airborne magnetic survey is currently underway over Bunker Hill, a sizeable area that contains some of the highest grade historic samples on the belt."
FIGURE 1: MALACHITE HIGH-PRIORITY TARGETS1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10713/220529_51d7d3e784cbab93_002full.jpg
FIGURE 2: DIAMOND DRILLING AT O-2 WEST TARGET
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https://images.newsfilecorp.com/files/10713/220529_51d7d3e784cbab93_003full.jpg
- ENDS -
This announcement has been authorised for release by the Company's Board of Directors.
To learn more about the Company, please visit www.aumegametals.com, or contact:
Sam Pazuki, Managing Director & CEO
Canada Phone: +1 780 665 4925
Australia Phone: +61 8 6117 0478
Email: info@aumegametals.com
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-kilometer 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.
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, Company exploration announcements on 16 January 2024 and 23 May 2024, Malachite announcements dated 20 April 2022, 8 June 2022, 12 September 2022, 14 September 2022, 6 October 2022, 12 December 2022, 25 January 2023 and 11 October 2023, Bunker Hill announcements on 14 April 2021, 22 March 2023 and 6 April 2023, Intersection related announcements 16 January 2024 and 29 October 2020, Winter RC drill results reported on 23 April 2024 and 28 May 2024 and the Resource Corridor announcement on 5 June 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. Spencer Vatcher, P. Geo. who is an independent consultant employed with Silvertip Exploration Consultants Inc. Mr. Vatcher 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 and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code 2012. Mr. Vatcher consents to the inclusion in the announcement of the matters based upon the information in the form and context in which it appears.
1 Refer ASX Announcement dated 12 June 2024 & 5 June 2024
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FAQ
What is the focus of AuMEGA Metals' phase two diamond drilling program?
What were the key findings from AuMEGA's winter RC drill program at Malachite?
When does AuMEGA (AUMMF) expect to receive assay results from its phase one diamond drilling?
What other exploration activities is AuMEGA currently conducting?
