AuMEGA Metals Ltd (ASX: AAM) has announced a strategic expansion of its Bunker Hill Project through the staking of new mineral claims south of the project boundary. These claims secure the full strike extent of the primary Cape Ray/Valentine Lake Shear, identified as highly prospective after a technical workshop in July 2024. The winter drilling program at Bunker Hill is nearing completion, with approximately 3,600 meters drilled to date, focused on the Nitty Gritty target and areas between Nitty Gritty and Bunker Hill West. Twelve diamond drill holes and 147 RC holes have been completed, although early seasonal changes impacted the program’s full scope. Diamond drilling is scheduled to resume in July 2025, targeting up to 10,000 meters. Assay results from the winter drilling are expected shortly, with a steady stream of results anticipated in the coming weeks. The company also reported the highest-ever gold assay (2.57 g/t Au) from first-pass prospecting at its Blue Cove Project. This underscores the potential of the Company’s growing Newfoundland portfolio. Exploration at Cape Ray is set to ramp up in May, targeting undrilled zones and extensions. AuMEGA remains optimistic about its land package’s prospectivity, citing increased interest from major gold companies, evidenced by B2Gold’s investment, Eldorado Gold’s joint venture, and Calibre Mining’s acquisition of Marathon Gold. The company has staked 173 claims incorporating 43 sqkm on the southern margin of the Bunker Hill project area. These claims adds a larger area of influence around its claims and encapsulates a number of north-south trending, cross cutting brittle structures identified in the high-resolution geophysics completed by the Company in 2024. Next steps include completing the winter drilling program, analyzing data, and finalizing plans for spring and summer exploration programs. Fieldwork at the Cape Ray Project is expected to begin in May 2025, potentially including RC drilling, with diamond drilling targeted to commence in June.
