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AuMEGA Metals Ltd (ASX:AAM)

ALERT: Price-sensitive ASX Announcement for AAM
Current share price for AAM : $0.033 -0.001 (-2.94%)+
Announcement
Release
2 Oct 2025 9:12AM
Price at Release
$0.034
Full Release
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Summary
AuMEGA Metals Ltd announced the identification of a major untested anomaly at its Cape Ray Project in Newfoundland and Labrador, Canada, following an airborne electromagnetic survey. This new anomaly is located 500 meters southeast of the Central Zone deposits and remains undrilled despite historical high-grade gold findings nearby. The Central Zone, the largest gold deposit in the project, showed strong conductivity values indicative of gold-bearing host rocks. The survey also expanded the pipeline of exploration opportunities by identifying other conductive anomalies pointing to potential new gold-bearing trends in underexplored areas. A fully funded drilling program is planned for the fourth quarter of 2025 to test these new targets.
Key Points
  • Major untested anomaly identified 500 meters southeast of the Central Zone deposits.
  • Central Zone exhibits strong conductivity values matching gold-bearing host rocks.
  • Pipeline of opportunities expanded with new conductive anomalies indicating potential new gold-bearing trends.
  • Fully funded drill program scheduled for the fourth quarter of 2025.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.