AuMEGA Provides Hermitage Gold and Antimony Project Update
AuMEGA Metals (ASX: AAM, TSXV: AUM, OTCQB: AUMMF) provides an update on its Hermitage Gold and Antimony Project in Newfoundland. Key highlights include:
1. Ongoing prospecting and mapping have identified large areas of hydrothermal alteration with quartz-dominated breccias.
2. The North Limb Fault comprises numerous subparallel fault splays, potentially forming a massive permeability network.
3. High-resolution airborne magnetic and VLF geophysical survey planned for Canadian autumn 2024.
4. New mineral licence staked adjacent to the south of existing claims.
5. Historic data shows Hermitage has the largest antimony anomaly in the province.
6. Phase one diamond drilling assays expected soon, with phase two drilling underway.
The project shows potential for gold and antimony discoveries, with multi-gram gold in outcrop over 7 kilometers of strike and high-grade antimony samples.
AuMEGA Metals (ASX: AAM, TSXV: AUM, OTCQB: AUMMF) fornisce un aggiornamento sul suo Progetto di Oro e Antimonio Hermitage in Newfoundland. I punti salienti includono:
1. La prospezione e la mappatura in corso hanno identificato ampie aree di alterazione idrotermale con brecce dominate da quarzo.
2. La Faglia del Limite Nord è composta da numerosi sproni di faglia subparalleli, che potrebbero formare una vasta rete di permeabilità.
3. È previsto un sondaggio geofisico aereo ad alta risoluzione e VLF per l'autunno canadese 2024.
4. Nuova licenza mineraria registrata adiacente a sud delle concessioni esistenti.
5. Dati storici mostrano che Hermitage ha l'anomalia di antimonio più grande della provincia.
6. I risultati dei test di perforazione a diamante della fase uno sono attesi a breve, mentre la perforazione della fase due è già in corso.
Il progetto mostra potenziale per scoperte di oro e antimonio, con oro a multi-grammi in affioramenti su oltre 7 chilometri di estensione e campioni di antimonio ad alta gradazione.
AuMEGA Metals (ASX: AAM, TSXV: AUM, OTCQB: AUMMF) proporciona una actualización sobre su Proyecto de Oro y Antimonio Hermitage en Newfoundland. Los aspectos destacados incluyen:
1. La prospección y mapeo en curso han identificado grandes áreas de alteración hidrotermal con brechas dominadas por cuarzo.
2. La Falla del Límite Norte comprende numerosos ramales de falla subparalelos, lo que potencialmente forma una vasta red de permeabilidad.
3. Se planea un estudio geofísico aéreo de alta resolución y VLF para el otoño canadiense de 2024.
4. Nueva licencia mineral registrada adyacente al sur de las concesiones existentes.
5. Datos históricos muestran que Hermitage tiene la anomalia de antimonio más grande de la provincia.
6. Se esperan pronto los resultados de las perforaciones con diamante de la fase uno, mientras que la perforación de la fase dos ya está en marcha.
El proyecto muestra potencial para descubrimientos de oro y antimonio, con oro de múltiples gramos en afloramientos a lo largo de más de 7 kilómetros de extensión y muestras de antimonio de alta ley.
AuMEGA Metals (ASX: AAM, TSXV: AUM, OTCQB: AUMMF)는 Newfoundland에 있는 Hermitage 금 및 안티모니 프로젝트에 대한 업데이트를 제공합니다. 주요 내용은 다음과 같습니다:
1. 진행 중인 탐사 및 지도가 석영이 우세한 브레치아를 포함한 광범위한 열수변화를 확인했습니다.
2. 북엽 단층은 수많은 평행 단층을 포함하여 잠재적으로 대규모 투과성 네트워크를 형성할 수 있습니다.
3. 2024년 캐나다 가을에 고해상도 항공 자기 및 VLF 지구 물리학 조사가 계획되어 있습니다.
4. 기존 채굴권 남쪽에 인접하여 새로운 광산 라이센스가 등록되었습니다.
5. 역사적인 데이터에 따르면 Hermitage는 이 주에서 가장 큰 안티모니 이상을 가지고 있습니다.
6. 1단계 다이아몬드 시추 분석이 곧 예상되며, 2단계 시추가 진행 중입니다.
이 프로젝트는 7킬로미터에 걸쳐 다중 그램의 금이 노출되고 고품질의 안티모니 샘플이 있는 등 금과 안티모니 발견의 잠재력을 보여줍니다.
AuMEGA Metals (ASX: AAM, TSXV: AUM, OTCQB: AUMMF) fournit une mise à jour sur son Projet d'Or et d'Antimoine Hermitage à Terre-Neuve. Les points clés incluent :
1. La prospection et la cartographie en cours ont identifié de grandes zones d'altération hydrothermale avec des brèches dominées par le quartz.
2. La faille du Léger Nord comprend de nombreux éclatements de faille subparallèles, pouvant former un vaste réseau de perméabilité.
3. Une enquête géophysique aérienne à haute résolution et VLF est prévue pour l'automne canadien 2024.
4. Une nouvelle licence minière a été enregistrée adjacente au sud des concessions existantes.
5. Les données historiques montrent que Hermitage possède la plus grande anomalie d'antimoine de la province.
6. Les essais de forage au diamant de la phase un sont attendus sous peu, tandis que le forage de la phase deux est en cours.
Le projet présente un potentiel pour des découvertes d'or et d'antimoine, avec un or multi-grammes en affleurement sur plus de 7 kilomètres de longueur et des échantillons d'antimoine de haute qualité.
AuMEGA Metals (ASX: AAM, TSXV: AUM, OTCQB: AUMMF) gibt ein Update zu seinem Hermitage Gold- und Antimonprojekt in Newfoundland. Zu den wichtigsten Punkten gehören:
1. Laufende Prospektion und Kartierung haben große Bereiche hydrothermaler Alteration mit quarzdominierten Brekzien identifiziert.
2. Die Nordlimbfault umfasst zahlreiche parallel verlaufende Verwerfungsspleiß, die möglicherweise ein enormes Durchlässigkeitsnetz bilden.
3. Eine hochauflösende Luftmagnetfeld- und VLF-geophysikalische Untersuchung ist für den kanadischen Herbst 2024 geplant.
4. Eine neue Mineralgenehmigung wurde südlich der bestehenden Ansprüche beantragt.
5. Historische Daten zeigen, dass Hermitage die größte Antimonanomalie in der Provinz hat.
6. Die Untersuchungsergebnisse der Diamantbohrungen der ersten Phase werden bald erwartet, während die Bohrungen der zweiten Phase bereits im Gange sind.
Das Projekt zeigt Potenzial für Gold- und Antimonentdeckungen, mit mehrfachen Gramm Gold in Aufschlüssen über eine Strecke von mehr als 7 Kilometern und hochgradigen Antimonproben.
- Identification of large areas of hydrothermal alteration with quartz-dominated breccias, indicating potential mineralization
- Staking of new mineral licence adjacent to existing claims, expanding the project's footprint
- Historic data showing the largest antimony anomaly in the province, enhancing the project's prospectivity
- Multi-gram gold in outcrop over 7 kilometers of strike and high-grade antimony samples from previous prospecting work
- Ongoing phase two drilling and expected near-term assay results from phase one drilling
- Delay in planned high-resolution airborne magnetic and VLF geophysical survey, now expected in Canadian autumn 2024
- Project remains in early exploration stages with no defined resource or economic viability yet established
Key Highlights
- Prospecting and mapping currently underway at the Hermitage Gold and Antimony Project.
- This recent prospecting work has identified several large areas of hydrothermal alteration that host quartz-dominated hydrothermal breccias with relatively chaotic hydrothermal breccias transitioning to breccia veins containing angular wall-rock clasts away from the fault strands1.
- Recent mapping and data analysis interprets the regional-scale North Limb Fault, previously identified by the Company, comprises of numerous subparallel fault splays and links that have potential to form a permeability network on a massive scale.
- High-resolution airborne magnetic and very low frequency ("VLF") geophysical survey expected is now expected in the Canadian autumn of 2024.
- Staked mineral licence2 adjacent to the south of the Company's Hermitage claims extend AuMEGA tenement holding along an interpreted major structural splay.
- Historic Government Lake sediment geochemical studies identified the Hermitage Project area as having the largest and highest tenor antimony anomaly in the province.
- Hermitage Project is in the same geological domain as the recently closed high-grade Beaver Brook Antimony mine that operated for approximately six years.
- Currently evaluating the potential of historically identified uranium showings in the Hermitage Project area.
- Phase one diamond drilling assays are expected in the near-term with phase two drilling currently underway.
Edmonton, Alberta--(Newsfile Corp. - September 4, 2024) - AuMEGA Metals Ltd (formerly Matador Mining Ltd) (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) ("AuMEGA" or "the Company") is pleased to provide an update on its high-grade Hermitage gold and antimony project. The Hermitage project is located on the Hermitage Flexure, the second largest known gold structure in Newfoundland and the site of the largest antimony lake sediment anomaly in the province.
AuMEGA Metal's Managing Director and CEO, Sam Pazuki commented:
"Hermitage is one of several projects we have in our portfolio and among our top ranked exploration projects due to its structural and geological architecture. We believe this is highly prospective gold belt and prospecting work has already produced encouraging gold and antimony results over the last two years. This includes multi-gram gold in outcrop over 7 kilometres of strike and high-grade antimony from samples, supporting our belief in the discovery potential of the project. We continue to validate the highly prospective nature of the Hermitage property through our systematic and results driven reconnaissance approach to exploration.
"The Hermitage geology displays the key characteristics required to host a major gold-bearing mineral system. It has the largest and highest tenor antimony and arsenic lake sediment anomaly in Newfoundland, and our prospecting results have confirmed a close association of gold to these key pathfinder elements while also heightening the potential for discovery of a domestic supply of other critical metals including Antimony. This prominent chemical signature, as well as the fundamental geology of Hermitage, is geologically akin to tier one gold mines in the Bendigo Terrane in Victoria, Australia.
"Hermitage remains underexplored. With early stage prospecting activities validating the significant gold and antimony potential, we will continue to explore Hermitage in a systematic way based on high quality, informed geological interpretation and efficient field work. Comprehensive geological mapping and sampling in prospective areas already identified commenced earlier this summer. Following a delay due to contractor availability, we are also planning a high-resolution airborne magnetic and VLF survey to improve definition of the four major target areas we identified as part of our targeting workshop conducted in June 2024 led by world-renowned structural geologist Brett Davis and involvement from experienced B2Gold geologists. The ongoing work is designed to define specific areas for drill testing in 2025.
"Finally, we have staked a new mineral licence adjacent to our property to the south and specifically the Nose block of the Hermitage Project (Figure 3). In staking this ground, we have acquired additional ground on the major North Limb splay that we had previously identified. We interpret this splay as a major second order structure splaying off the Hermitage Flexure and a potential dilation zone critical in localising and trapping hydrothermal fluids into resulting gold deposits."
FIGURE 1: NEWFOUNDLAND REGIONAL LAKE SEDIMENT ANOMALIES SIZED ON ANTIMONY (SB PPM)
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FIGURE 2: HERMITAGE PROSPECTING RESULTS (2022-2023) & NEW LICENSE
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Regional Newfoundland Lake Sediment Geochemistry
The Hermitage Project is defined by a significant anomalous antimony geochemical signature derived from a lake sediment sampling program completed by the Government of Newfoundland and Labrador in the late 1980's. This anomalous antimony geochemical trend is relatively high in amplitude, with Hermitage hosting seven of the top ten lake sediment antimony values recorded on the island of Newfoundland. Accompanying this is the single highest anomaly assay in the dataset at 22.1 ppm Sb (Figure 1). At Hermitage, the antimony lake sediment geochemical signature is higher than the equivalent anomaly surrounding the inactive Beaver Brook Antimony Mine located 160 kilometres north in the same geological domain (Figure 1).
The antimony-arsenic-gold association of Hermitage is analogous to other notable turbidite hosted gold deposits, such as Fosterville in Victoria (Australia) and Newfound Gold's Queensway project on the same geological structure northeast of Hermitage.
Hermitage Overview
The Company's Hermitage property consists of 27 kilometres of continuous strike along the large crustal scale suture zone between the Dunnage and Gander zones, known as the Hermitage Flexure. Regionally, the Dunnage zone contains volcanic packages hosting turbidite sequences, which are considered regionally prospective for hosting gold deposits throughout Newfoundland, and globally in places such as the Bendigo Terrane in Victoria, Australia, including Agnico Eagle's prolific Fosterville gold mine, also in Victoria.
The main structural trend on the island of Newfoundland strikes approximately northeast - southwest, approximately perpendicular to the inferred direction of continental collision and terrane accretion. The only regional scale portion of rocks on the island that strike oblique to this structural orientation are in the Hermitage Flexure. The oblique orientation of the Hermitage Flexure would have sponsored accommodation of strike-slip movement along the structure creating both contractional and extensional sites, the latter of which allowed formation of sedimentary basins in which the Hermitage host rocks were deposited in. These structurally anomalous rocks have been subsequently deformed, faulted and folded, with local progressive dilation needed to form large scale orogenic gold deposits.
The Company's exploration activities have been spread over three distinct areas within the Hermitage property. These three distinct blocks are defined by unique geological characteristics along with specific pathfinder geochemistry and mineralisation styles. Each block hosts multigram bedrock gold showings that span much of the strike extent of the Hermitage property (Figure 3).
FIGURE 3: OVERVIEW OF THE HERMITAGE PROJECT DISPLAYING THE PROJECT'S TARGET BLOCKS AND KEY GOLD SHOWINGS
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Previous Prospecting Results
In the Canadian autumn of 2022, the Company launched its inaugural prospecting work at Hermitage. Due to the extensive glaciated cover at Hermitage, Company personnel traversed approximately 45 kilometres along a series of rivers cutting across the eastern side of the Hermitage property. The primary goal of these activities was the identification of outcropping evidence of hydrothermal gold-bearing systems within the incised rivers. Secondary to this, the Company sought to improve the understanding of the Hermitage terrane to allow for the adequate planning of future exploration programs.
Samples collected from this program were analysed for gold mineralisation, pathfinder elements and whole-rock geochemistry classification. Key highlights included the discovery of multiple sulphide-bearing quartz veins containing greater than 1 g/t gold over 400 metres of strike (Figure 2) with peak assays that included 7.31 g/t gold in sample MR0012523. This series of multigram gold showings was five kilometres along strike from a historic rock sample collected by INCO grading 1.03 g/t gold4.
During the 2023 prospecting campaign at Hermitage, the Company discovered a second significant gold occurrence in outcrop, seven kilometres northwest from the 2022's high-grade discovery. Peak gold in bedrock at this new showing was 2.15 g/t gold, with additional bedrock samples grading 1.39 g/t gold, 0.72 g/t gold and 0.43 g/t gold over 30 metres of strike5. Additionally, highly anomalous arsenic samples were identified proximal to this gold showing, with a peak value of
Detailed follow-up work was conducted along bedrock exposures proximal to the 7.31 g/t gold sample in outcrop identified from the 2022 reconnaissance campaign. This 400 metre across-strike zone of multigram gold in bedrock returned six samples greater than 100 ppb gold, with a peak gold value of 0.98 g/t gold (MR001430 - outcrop)5.
New Claim Staked
The Company has recently staked additional ground adjacent to the Nose Block of the Hermitage Project.6 This area expands the Company's ground over the North Limb Fault, an interpreted major structure splaying off the Hermitage Flexure.
The North Limb Fault appears to have structurally removed the northern expression of the Hermitage syncline, resulting in a sharp juxtaposition between the Bay du Nord turbidite sequences and higher-grade metamorphosed sediments of unknown origin. Crustal scale structures such as the Hermitage Flexure are considered instrumental in the migration of gold bearing hydrothermal fluids, while its subordinate splays, such as the North Limb Fault and other subsidiary structures, are generally critical in localising and trapping these fluids into resulting gold deposits.
In support of this, recent geological mapping traverses across the strike of the belt and along the North Limb Fault have identified abundant silica-dominated hydrothermal breccias and vein networks proximal to, and defining, the structure. The North Limb Fault is interpreted as a braided fault system, comprising numerous subparallel fault strands that have sponsored formation of a permeability network on a massive scale. This permeability network manifests as quartz-dominated breccia vein populations, vein stockworks and sheeted vein arrays defining the damaged rock within, and adjacent to, the fault strands. Importantly, sulphides and hydrothermal alteration in the form of sericite and chlorite, have been recently identified within these damage zones.
Tremendous gold prospectivity being enhanced on the Hermitage property with gold mineralisation in bedrock identified in two separate showings, proximal to the North Limb Fault seven kilometres apart along strike. This bedrock gold mineralisation is also hosted in two distinct geological units opening up prospectivity on both the hangingwall and footwall of this major structure.
FIGURE 4: HERMITAGE NORTH LIMB FAULT OVERLAYED WITH PROSPECTING RESULTS
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Uranium Potential
The Company has recently reviewed historic studies of the potential for uranium on and near the Hermitage Project area. The Province of Newfoundland and Labrador currently hosts major uranium projects. Over the course of the next several months, the Company will continue to evaluate and better understand the potential of uranium within the Hermitage property.
- 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 and Hermitage specific announcements dated 18 May 2023, 13 September 2023, 13 November 2023, and18 March 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 The Company is cross-referencing location of these veins relative to previous/historic sampling to determine gold potential
2 The Company has staked this ground and awaits formal issuance of the license
3 ASX Announcement dated 18 May 2023
4 ASX Announcement dated 13 November 2023
5 ASX Announcement 13 September 2023
6 The license has been staked and the Company is awaiting formal issuance of the license
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FAQ
What are the key findings from recent prospecting at AuMEGA's Hermitage Gold and Antimony Project?
When is the high-resolution airborne magnetic and VLF geophysical survey planned for the Hermitage Project?
What significant geochemical features does the Hermitage Project area possess?
What were the peak gold assay results from AuMEGA's 2022 prospecting at the Hermitage Project?
