InvestSMART

AuMEGA Metals Ltd (ASX:AAM)

ALERT: Price-sensitive ASX Announcement for AAM
Current share price for AAM : $0.039 0.004 (11.43%)+
Announcement
Release
17 Nov 2025 8:24AM
Price at Release
$0.035
Full Release
download
Summary
AuMEGA Metals Ltd has announced the commencement of a diamond drilling program at its Cape Ray Project in Newfoundland and Labrador, Canada. This program targets a significant airborne electromagnetic conductor located near the Central Zone, a high-grade gold system. The target area has not been previously drill-tested, making this an exciting development aimed at uncovering new discoveries. The program is supported by extensive geochemical and geophysical data and is fully funded. The drill program will initially use one diamond rig with the potential expansion to a second rig, depending on results. Additionally, the company completed a till geochemical survey over the Isle aux Morts Granite to refine drill locations for future exploration at Cape Ray West.
Key Points
  • Diamond drilling program commenced at Cape Ray.
  • Focus on a newly defined airborne electromagnetic conductor.
  • Target area located near the high-grade Central Zone.
  • Potential for a new gold-bearing trend parallel to Central Zone.
  • Program is fully funded and may scale up with a second rig.
  • Additional till geochemical survey completed for Cape Ray West.
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.