AuMEGA Metals Ltd (ASX:AAM, TSX:AUM, OTCQB:AUMMF, FRA:FRA: MA30) has released its quarterly activities report for the period ended 31 December 2025, outlining exploration progress and target generation across its district-scale landholding in Newfoundland and Labrador, Canada. All amounts are in Canadian dollars unless otherwise stated.
AuMEGA's non-executive chair Justin Osborne spoke with Proactive last week about the company’s focused exploration strategy in Newfoundland, Canada, where it controls about 110 kilometres of tenure along the highly prospective Cape Ray–Valentine Shear Zone. The structural corridor also hosts Equinox Gold’s 5Moz Valentine Gold Project, which has recently entered commercial production.
Exploration
Isle aux Morts Granite flagged as priority
AuMEGA said the Isle aux Morts Granite (IMG) has advanced as a top-priority target. The felsic intrusion covers about 16km² and sits adjacent to the company’s existing resource corridor. Recent gold-in-till anomalies were reported as coincident with elevated copper (Cu), molybdenum (Mo) and bismuth (Bi), forming a zoned geochemical footprint consistent with a potentially fertile gold and/or copper system.
Bunker Hill portfolio upgraded after 2025 programs
Interpretation of 2025 till geochemistry and mapping materially upgraded the target portfolio at Bunker Hill, defining multiple new gold and base metals target corridors. AuMEGA highlighted a new multi-kilometre gold trend along the Branch Fault Corridor.
Nitty Gritty described as emerging polymetallic opportunity
The company said the broader Nitty Gritty area is emerging as a polymetallic opportunity, citing elevated copper, lead, zinc and silver responses. AuMEGA also referenced historical high-grade surface samples, including 57% Cu and 407.5g/t Ag.
Cape Ray: drilling completed on large EM conductor, assays pending
At Cape Ray, AuMEGA completed diamond drilling on a previously untested electromagnetic anomaly about 500msoutheast of the Central Zone. The conductor is estimated at about 1,000m by 500m, remains open along strike, and assays are pending.
Hermitage: surficial geochemistry completed, assays pending
AuMEGA also completed a surficial geochemical program over a large central area at Hermitage, with assays pending.