AuMEGA Completes Phase One of Diamond Drilling, Commences Greenfields Activities
AuMEGA Metals (ASX: AAM, TSXV: AUM, OTCQB: AUMMF) has completed the first phase of its 2024 diamond drilling program, with approximately 1,900 metres drilled in the Central Zone area. The company has also begun its first-ever field exploration work at the highly prospective Intersection Project. Key highlights include:
1. Completion of the deepest drill hole ever at Central Zone
2. Commencement of Greenfield till-surveying at Intersection Project
3. Upcoming airborne magnetic surveys over Bunker Hill
4. Phase two diamond drilling planned for Malachite Project
CEO Sam Pazuki expressed optimism about the program's progress and the potential of the Intersection Project, located at the convergence of two major gold structures in Newfoundland. The company expects assay results in the coming weeks and is finalizing plans for the second phase of diamond drilling.
AuMEGA Metals (ASX: AAM, TSXV: AUM, OTCQB: AUMMF) ha completato la prima fase del suo programma di perforazione con diamante del 2024, con circa 1.900 metri perforati nell'area della Central Zone. L'azienda ha anche avviato il suo primo lavoro di esplorazione sul campo presso il promettente Intersection Project. I punti salienti includono:
1. Completamento del foro di perforazione più profondo mai realizzato nella Central Zone
2. Inizio del survey di till di Greenfield presso il Intersection Project
3. Prossime indagini magnetiche aeree su Bunker Hill
4. Fase due della perforazione con diamante pianificata per il Malachite Project
Il CEO Sam Pazuki ha espresso ottimismo riguardo ai progressi del programma e al potenziale del Intersection Project, situato all'incrocio di due importanti strutture aurifere nel Newfoundland. L'azienda si aspetta risultati analitici nelle prossime settimane e sta finalizzando i piani per la seconda fase della perforazione con diamante.
AuMEGA Metals (ASX: AAM, TSXV: AUM, OTCQB: AUMMF) ha completado la primera fase de su programa de perforación de diamante 2024, con aproximadamente 1,900 metros perforados en el área de la Zona Central. La empresa también ha comenzado su primer trabajo de exploración de campo en el altamente prometedor Proyecto Intersection. Los aspectos más destacados incluyen:
1. Finalización del pozo de perforación más profundo jamás realizado en la Zona Central
2. Inicio del levantamiento de till en Greenfield en el Proyecto Intersection
3. Próximas encuestas magnéticas aéreas sobre Bunker Hill
4. Perforación de diamante de fase dos planificada para el Proyecto Malachite
El CEO Sam Pazuki expresó optimismo sobre el progreso del programa y el potencial del Proyecto Intersection, ubicado en la convergencia de dos importantes estructuras de oro en Terranova. La empresa espera resultados de análisis en las próximas semanas y está finalizando planes para la segunda fase de perforación de diamante.
AuMEGA Metals (ASX: AAM, TSXV: AUM, OTCQB: AUMMF)는 2024년 다이아몬드 드릴링 프로그램의 첫 번째 단계를 완료했으며, 중앙 지역에서 약 1,900 미터를 드릴링했습니다. 회사는 또한 매우 유망한 Intersection Project에서 처음으로 현장 탐사 작업을 시작했습니다. 주요 하이라이트는 다음과 같습니다:
1. 중앙 지역에서 가장 깊은 드릴 홀 완성
2. Intersection Project에서의 그린필드 틸 서베이 시작
3. Bunker Hill에 대한 항공 자기 조사 예정
4. Malachite Project에 대한 두 번째 단계 다이아몬드 드릴링 계획
CEO Sam Pazuki는 프로그램 진행 상황과 두 개의 주요 금 구조가 만나는 곳에 위치한 Intersection Project의 잠재력에 대해 낙관적인 견해를 밝혔습니다. 회사는 향후 몇 주 내에 분석 결과를 기대하고 있으며, 다이아몬드 드릴링의 두 번째 단계에 대한 계획을 마무리하고 있습니다.
AuMEGA Metals (ASX: AAM, TSXV: AUM, OTCQB: AUMMF) a achevé la première phase de son programme de forage diamant en 2024, avec environ 1 900 mètres forés dans la zone centrale. L'entreprise a également commencé son tout premier travail d'exploration sur le terrain au sein du prometteur Intersection Project. Les points clés incluent :
1. Achèvement du trou de forage le plus profond jamais réalisé dans la zone centrale
2. Début de l'enquête de till de Greenfield sur le projet Intersection
3. Prochaines études magnétiques aériennes sur Bunker Hill
4. Planification de la phase deux du forage diamant pour le projet Malachite
Le PDG Sam Pazuki a exprimé son optimisme quant aux progrès du programme et au potentiel du projet Intersection, situé à la jonction de deux grandes structures aurifères à Terre-Neuve. L'entreprise s'attend à des résultats d'analyse dans les prochaines semaines et finalise les plans pour la deuxième phase du forage diamant.
AuMEGA Metals (ASX: AAM, TSXV: AUM, OTCQB: AUMMF) hat die erste Phase seines Diamantbohrprogramms 2024 abgeschlossen, mit etwa 1.900 Metern, die im Zentralgebiet gebohrt wurden. Das Unternehmen hat auch mit seiner ersten Feldexploration im vielversprechenden Intersection Project begonnen. Zu den wichtigsten Highlights gehören:
1. Abschluss des tiefsten Bohrlochs aller Zeiten in der Zentralzone
2. Beginn der Greenfield-Till-Befragung im Intersection Project
3. Bevorstehende luftgestützte magnetische Untersuchungen über Bunker Hill
4. Geplante zweite Phase der Diamantbohrungen im Malachite Project
CEO Sam Pazuki äußerte Optimismus über den Fortschritt des Programms und das Potenzial des Intersection Project, das an der Kreuzung zweier wichtiger Goldstrukturen in Neufundland liegt. Das Unternehmen erwartet in den kommenden Wochen Analyseergebnisse und finalisiert die Pläne für die zweite Phase der Diamantbohrungen.
- Completion of 1,900 metres of diamond drilling in the Central Zone area
- First-ever field exploration work commenced at the highly prospective Intersection Project
- Upcoming high-resolution airborne magnetic survey over Bunker Hill Project
- Previous RC drill program at Malachite revealed promising results, including 627 ppb gold and 1.99% copper
- None.
Key Highlights
- First phase of 2024 diamond drilling completed in the resource corridor
- Approximately 1,900 metres of diamond drilling completed with assays pending
- Final diamond drill hole completed was deepest ever drill hole at Central Zone
- First-ever Company activities on the Intersection Project currently underway
- Airborne magnetic surveys commencing in the near-term over Bunker Hill
- Phase two diamond drilling expected to commence in the coming weeks concentrated on the Malachite Project
Edmonton, Alberta--(Newsfile Corp. - July 30, 2024) - AuMEGA Metals Ltd (formerly Matador Mining Ltd) (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) ("AuMEGA" or "the Company") is pleased to announce the completion of the first phase of the 2024 diamond drilling program with approximately 1,900 metres completed. The drilling focused mainly on new targets in the Central Zone area including at-depth extensions, and new footwall and along strike targets.
The Company is also pleased to announce the commencement of Greenfield till-surveying at the Intersection Project representing the first-ever field exploration work carried out by the Company at this highly prospective area situated on the convergence of the two largest known gold structures in Newfoundland.
AuMEGA Metal's Managing Director and CEO, Sam Pazuki commented:
"Our fully funded exploration program is progressing to plan. For the first time in two years, the Company returned to major field work within the resource corridor with diamond drilling. This first phase of drilling within the Central Zone footprint targeted potential extensions to known mineralisation identified through recent internal analysis which have had no prior drilling. These areas included the Central Zone footwall, new targets along strike and at depth targets. We look forward to receiving the assay results which are expected over in the coming weeks. The results of this drilling will inform us of our next activities in the area.
"We currently have our first ever boots on the ground at the Intersection Project located at the eastern end of the Cape Ray Shear Zone tenement holding. This is an exciting moment for the business as we have long believed in the prospectivity of the Intersection Project given it is literally located on the intersection of the Cape Ray Shear and the Hermitage Flexure, which are two of the largest known gold structures in Newfoundland. As importantly, the location of the Intersection Project represents the type of major complex geological feature known in other jurisdictions to host world-class deposits.
"Within the next couple of weeks, we also expect to be flying the first-ever high-resolution airborne magnetic survey over our Bunker Hill Project. Bunker Hill is a vast, highly prospective area which, despite only limited historic exploration work by the Company and predecessors, has delivered some of the highest grade gold, silver and copper samples collected within our portfolio1 as noted in Figure 2.
"Finally, we are currently finalising our plans for the second phase of diamond drilling, which will be concentrated on new Greenfields targets at Malachite. Our highly successful winter RC drill program revealed three large, mineralised zones including O-2 West where bottom-of-hole results delivered the RC program's best results including 627 ppb gold and
FIGURE 1: CENTRAL ZONE AT DEPTH DRILLING LOCATIONS4
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/10713/218335_b4c39c76349b19f8_002full.jpg
FIGURE 2: BUNKER HILL AND INTERSECTION
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/10713/218335_b4c39c76349b19f8_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 2024 exploration announcements on 28 August 2019, 31 October 2019, 29 October 2020, 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 See ASX Announcements dated 4 July 2024, 16 January 2024, 6 April 2023, 22 March 2023 & 14 April 2021
2 See ASX Announcements dated 4 July 2024, 5 June 2024, 28 May 2024 & 23 April 2024
3 See ASX Announcement dated 25 January 2023
4 See ASX Announcement dated 12 June 2024 & 5 June 2024
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218335
FAQ
What is the status of AuMEGA Metals' 2024 diamond drilling program?
What new exploration activities has AuMEGA Metals (AUMMF) started?
What were the key results from AuMEGA Metals' previous RC drill program at Malachite?
Where is AuMEGA Metals' Intersection Project located and why is it significant?
