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AuMEGA announces start of second phase of diamond drilling Page 1

Posted on by Vaseline
AuMEGA announces start of second phase of diamond drilling Page 1

Key highlights

  • Drill targets at Malachite focused on large, mineralized zones identified through the highly successful Reverse Circulation (“RC”) drill program over the winter

  • Phase one of the diamond drilling will be completed by the end of July 2024 and analyses are expected in the coming weeks

  • Research into the highly promising Intersection Project recently concluded, with analyses expected to take place in the coming weeks

  • Airborne magnetic geophysical surveys over the highly promising Bunker Hill project are currently underway, along with prospecting and mapping

  • An aerial survey of the promising, high-grade gold/antimony at Hermitage is expected to commence in the Canadian fall 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 commencement of the second phase of diamond drilling in the Cape Ray Shear Zone (“CRSZ”) 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 total measurement will be based on results and weather conditions.

    Sam Pazuki, Managing Director and CEO of AuMEGA Metal, commented:

    “We are very excited about this second phase of diamond drilling. Our very successful RC winter drill program identified three large mineralized 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 in the O-2 West area. Here the RC program delivered the best rock sample and a series of additional holes on the same line and across multiple RC lines. One hole delivered 627 ppb gold along with 1.99% copper in rock just seven meters below surface, directly in a structure extending from the main O-2 breakout structure. This was clearly a striking result. Overall the RC program delivered significant gold anomalies with several gold values, including the O-2 West result which was 25 to 200 times greater than the average crustal abundance.

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