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Key Highlights
- Main, Untested Anomaly Recognized: New anomaly situated 500 metres southeast of the Central Zone deposits; by no means drill examined regardless of a historic pattern of 111.5 g/t gold collected close by1.
- Central Zone “lights-up”: Largest gold deposit on the Cape Ray Challenge (“Cape Ray”) reveals extraordinarily robust conductivity values that match gold-bearing host rocks.
- Pipeline of Alternatives Expands: Different conductive anomalies level to potential new gold-bearing traits in underexplored areas of Cape Ray.
- Close to-term Drilling: Totally funded drill program to check the brand new anomaly scheduled for the fourth quarter 2025.
AuMEGA Metals Ltd (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) (“AuMEGA” or “the Firm”) is happy to report outcomes from its not too long ago accomplished Airborne Time Area Electromagnetic (“EM”) survey on the Cape Ray, situated alongside the Cape Ray-Valentine Shear Zone (“CRSZ”) in Newfoundland and Labrador, Canada.
The survey efficiently delineated recognized mineralisation on the Central Zone deposits and, importantly, recognized a number of new extremely conductive zones with the potential to characterize beforehand unrecognised mineralised traits.
AuMEGA Steel’s Managing Director and CEO, Sam Pazuki, commented:
“The EM survey delivered precisely what we needed — clear affirmation that our strategy successfully maps recognized gold mineralisation at Central Zone, whereas additionally uncovering a number of new high-quality anomalies. Most fun is a significant goal situated simply 500 metres southeast of our high-grade Central Zone deposits that has by no means been drilled but mirrors its geophysical signature. It is a compelling alternative that we imagine may characterize a very new pattern of gold mineralisation at Cape Ray.
“With drilling scheduled for later this 12 months, a totally funded 2025 program, and ongoing work at Bunker Hill and Cape Ray West, we proceed to have a powerful pipeline of alternatives to drive the following part of discovery on what I’ve lengthy believed to be the following main mining district in Canada.”
Determine 1: AuMEGA Metals Portfolio on the CRSZ and Hermitage Flexure
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Overview
The Cape Ray Challenge at present hosts 420,000 ounces of gold in Indicated Assets and 141,000 ounces in Inferred Assets, primarily based on a gold worth of US$1,750 per ounce2.
In July 2025, the Firm accomplished an airborne EM survey throughout its mineral useful resource hall at Cape Ray. The 930 line-kilometre survey efficiently detected conductive zones beneath cowl, together with graphite and sulphide wealthy zones which can be intently linked with gold mineralisation within the district.
At Cape Ray, the Central Zone deposits are hosted inside a graphitic schist horizon within the Windsor Level Group sediments. The EM survey efficiently delineated the recognized Central Zone deposit whereas figuring out a number of new conductive zones which have potential to broaden the mineralised footprint.
Many anomalies stay open alongside strike and at depth, indicating the mineralised system may prolong properly past present useful resource boundaries.
Main Anomaly Recognized
The survey recognized a significant new EM anomaly with conductivity power, scale and orientation that’s akin to the Central Zone deposits (Determine 2).
- Situated solely 500 metres southeast of Central Zone;
- At present extends not less than 1,000 metres alongside strike and roughly 500 metres extensive;
- Stays open alongside strike, because the EM response continues past the sting of the survey limits; and,
- EM anomaly coincides with a major north to east trending folded construction truncated by a second order splay construction from the CRSZ.
The anomaly is interpreted as a portion of Windsor Level Group sediments, together with graphitic schist, thrust into the hangingwall stratigraphy. A lot of the recognized Cape Ray Mineral Useful resource is hosted within the Windsor Level Group sediments and its graphitic schist horizon is a powerful EM conductor. In consequence, this goal is now labeled as a excessive precedence drill goal.
Determine 2: Main EM Anomaly Southeast of the Central Zone deposits
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This space, which is nearly fully undercover, has seen restricted historic exploration as a result of its hid geology, regardless of the Central Zone entry street slicing immediately by it. Previous work was restricted to sparse soil and until sampling and a broad-spaced Heavy Mineral Focus (“HMC”) survey, which returned a standout pattern grading 111.5 g/t gold3. The very high-grade pattern was collected close to the EM supply, adjoining to a significant second-order hangingwall construction off the CRSZ. Importantly, no drilling has ever been accomplished on this goal space (Determine 2).
With the EM survey now delineating a powerful, large-scale conductor on this setting, the anomaly has turn into a top-priority exploration goal. It has the potential to characterize a completely new mineralised pattern, akin to or bigger than the present Central Zone deposits.
Crews are at present on the bottom conducting a until geochemical survey, sampling and geological mapping program, with drilling deliberate earlier than year-end to check this high-impact goal. This work is totally funded and markets a key step towards advancing a possible new discovery at Cape Ray.
Determine 3: Electromagnetic anomalies adjoining to the Central Zone useful resource areas.
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A number of Further EM Anomalies
Along with the newly outlined large-scale anomaly, the EM survey additionally delineated a number of extra conductive zones throughout Cape Ray and alongside the japanese boundary of the Lengthy Vary Challenge. These anomalies exhibit EM responses akin to the Central Zone deposits and regularly align with main second- and third-order constructions branching off the CRSZ. In a number of instances, the anomalies are additional supported by coincident geochemical signatures, reinforcing their exploration significance and discovery potential.
Key anomalies embrace:
- Main EM Anomaly (Determine 3 & 4): Situated south of Window Glass Hill Granite inside Windsor Level Group sediments, the identical host sequence that incorporates a lot of the Firm’s sources. This anomaly sits 300 to 1,500 metres alongside strike from historic drilling in a structural setting analogous to Central Zone.
- Anomaly B (Determine 4): Located at Cape Ray West ready akin to Central Zone, alongside the interpreted southeastern boundary of the Windsor Level Group. The mix of robust EM conductivity (graphitic schist) and a beneficial construction place mirror the Central Zone setting. First-pass mapping and geochemical sampling have been accomplished in July 2025, with assay outcomes pending.
- Anomaly C (Determine 3 & 4): Lies east of Central Zone, the place earlier drilling doubtless examined the fallacious horizon. Historic gold-in-soil anomalism coincides immediately with this EM response, making it a powerful follow-up goal.
- Anomaly D (Determine 4): Outlined alongside the southwestern fringe of the EM survey with roughly 800 metres of strike, representing a newly recognised pattern with minimal historic exploration. The realm is supported by a 550-metre-long historic gold-in-till anomaly and a 2023 float pattern (MR001585) that graded 4.38 g/t gold, 49 g/t silver, and 1.38% copper4.
These anomalies underscore a rising pipeline of untested targets throughout Cape Ray that share the identical geophysical, geological and structural traits as current deposits, offering a number of pathways for future useful resource development.
Determine 4: A number of EM Anomalies Recognized at Cape Ray
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AuMEGA is creating detailed work plans to advance these targets in 2025, together with:
- Precedence surficial geochemical sampling applications on high-priority EM anomalies, highlighting gaps in historic surveys;
- Detailed mapping and rock sampling to refine structural and lithological controls; and,
- Reverse circulation or diamond drilling.
Different
In August 2025, AuMEGA accomplished an intensive until geochemical survey throughout the Cape Ray West space, gathering 1,082 until samples and 91 rock samples over 16 km². Historic information confirms a powerful correlation between until anomalies and recognized gold deposits at Cape Ray (Determine 5), underscoring the importance of this dataset.
Pending assay outcomes, anticipated within the close to time period, can be built-in with EM and magnetic information to construct a multi-layered concentrating on mannequin supporting the following spherical of drilling at Cape Ray.
Determine 5: Cape Ray West Until and Rock Sampling Program
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This announcement has been authorised for launch by the Firm’s Board of Administrators.
In regards to the Firm
AuMEGA Metals Ltd (ASX: AAM) (TSXV: AUM) (OTCQB: AUMMF) is utilising best-in-class exploration to discover on its district scale land package deal that spans 110 kilometers alongside the Cape Ray Shear Zone, a major under-explored geological function recognised as Newfoundland, Canada’s largest recognized gold construction. This zone at present hosts Equinox Gold’s Valentine Gold Challenge, a multi-million-ounce deposit which is the area’s largest gold mission, together with AuMEGA’s increasing Mineral Useful resource.
The Firm is supported by a various shareholder registry of distinguished international institutional traders, and strategic funding from B2Gold Corp, a major, intermediate gold producer.
Moreover, AuMEGA holds a 27-kilometre stretch of the extremely potential Hermitage Flexure and has additionally secured an Choice Settlement for the Blue Cove Copper Challenge in southeastern Newfoundland, which reveals robust potential for copper and different base metals.
AuMEGA’s Cape Ray Shear Zone hosts a number of dozen excessive potential targets together with its current outlined gold Mineral Useful resource of 6.1 million tonnes grading a mean of two.25 g/t, totaling 450,000 ounces of Indicated Assets, and three.4 million tonnes grading a mean of 1.44 g/t, totaling 160,000 ounces in Inferred Assets5.
AuMEGA acknowledges the monetary assist of the Junior Exploration Help Program, Division of Trade, Vitality and Expertise, Provincial Authorities of Newfoundland and Labrador, Canada.
Reference to Earlier Bulletins
In relation to this information launch, all information used to evaluate targets have been beforehand disclosed by the Firm and referenced in earlier JORC Desk 1 releases. Please see bulletins dated: 30 Could 2023, 24 August 2023 in addition to Newfoundland and Labrador Mineral Evaluation Report #011O/0326 submitted by Dolphin Exploration LTD in 1988.
In relation to the Mineral Useful resource estimate introduced on 30 Could 2023, the Firm confirms that each one materials assumptions and technical parameters underpinning the estimates in that announcement proceed to use and haven’t materially modified. The Firm confirms that the shape and context during which the Competent Particular person’s findings are introduced haven’t been materially modified from the unique market announcement.
Competent Particular person’s Statements
Geophysics
AuMEGA contracted Axiom Exploration Group Ltd. along side RPM Aerial Companies and Breton Air to fly a TDEM survey utilizing Axiom’s proprietary 30Hz XciteTM TDEM system which collected each time area electromagnetic and magnetic information concurrently. Flight strains have been spaced 100 metres aside at an orientation of 152-332° with tie strains spaced at 1000 metres at an orientation of 62-242°. The survey coated a complete space of 59.5 kilometres2.
Historic Outcomes
Some information disclosed on this information launch is said to historic sampling. The corporate has not independently analyzed the outcomes as a way to confirm the outcomes; nevertheless, the Firm considers these historic outcomes related because the Firm is utilizing this information as a information to plan exploration applications. The total outcomes of the historic work referenced on this launch could be accessed on-line.
Certified Particular person
The scientific and technical data on this press launch was reviewed and authorised by Shamus Duff, P. Geo., Challenge Geologist. Mr. Duff is a Certified Particular person as outlined beneath Nationwide Instrument 43-101 and a Skilled Geologist registered with Skilled Engineers and Geoscientists of Newfoundland and Labrador (PEGNL). Mr. Duff consents to the publication of this press launch and certifies that the data is offered pretty and precisely represents the scientific and technical data disclosed inside it.
1 Newfoundland and Labrador Mineral Evaluation Report #011O/0326 submitted by Dolphin Exploration LTD in 1988
2 Information launch dated 30 Could 2023
3 Newfoundland and Labrador Mineral Evaluation Report #011O/0326 submitted by Dolphin Exploration LTD in 1988
4 Information launch 24 August 2023
5 Information launch dated 30 Could 2023
To view the supply model of this press launch, please go to https://www.newsfilecorp.com/launch/268850
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