Company
ASX:MZZ
AuMEGA Metals Ltd is utilising best-in-class exploration to explore on its district scale land package that spans 110 kilometers along the Cape Ray-Valentine Shear Zone, a significant under-explored geological feature recognised as Newfoundland, Canada’s largest identified gold structure. This zone currently hosts Equinox Gold’s Valentine Gold Project, a multi-million-ounce deposit which is the region’s largest gold project, along with AuMEGA’s expanding Mineral Resource.
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“Mick Wilkes' recent experience in international mine development will be critical as the company progresses the Cape Ray Project towards gold production," chairman Ian Murray.
The company will simultaneously begin a two-year greenfield exploration program aimed at systematically targeting and testing new areas to generate a pipeline of future drill targets and deposits.
Nero, for which Treasury Services Group acts as trustee for, holds 7,436,574 shares valued at more than $2.157 million.
The company is well-funded to fund a major exploration program, including drilling, at the Cape Ray Gold Project in Newfoundland, Canada.
Executive chairman Ian Murray has purchased 1 million shares and executive director Keith Bowes acquired 150,000 shares.
The company recently staked an additional five licences at the northern extension of its current holdings in a gold-rich area of Newfoundland.
As part of the board transition, Grant Davey has stepped down as a non-executive director of the company.
The company has staked an additional five licences at the northern extension of its current holdings in a gold-rich area of Newfoundland.
New chairman Ian Murray features in online company presentation about Cape Ray Gold Project in Newfoundland.
A newly released scoping study for the Cape Ray Gold Project provides a solid platform for future growth as a standalone mining and processing operation.
The study is underpinned by a new, recut resource of 837,000 ounces at 2 g/t gold at the Cape Ray Gold Project in Newfoundland, Canada.
This is the first appointment of what is anticipated to be a restructure of the company’s board.
A newly released scoping study for the Cape Ray project provides a solid platform for future growth as a standalone mining and processing operation.
The company’s long-term exploration strategy is being finalised with a focus on extending mine life and replacing low-grade stockpile material with higher-grade ore earlier in the project life.
Matador Mining technical director Keith Bowes chats to Samso about the company and its 1.02-million-ounce Cape Ray Gold Project in Newfoundland.
The company’s March quarterly activities report showed growth in the mineral resource and a total average grade at just over 2.2 g/t gold.
The company is contemplating Cape Ray Gold Project construction in 2022, ahead of first production in 2023.
The scoping study is expected to "show that we’ve got a very vanilla project that’s high grade, in a first-world jurisdiction and is going to a have a rapid payback," says director Adam Kiley.
The gold exploration company is progressing the scoping study and mine plan after increasing the mineral resource at its Cape Ray Gold Project in Newfoundland, Canada.
The company aims to test several highly prospective greenfield exploration targets in the upcoming exploration program.
