AuMEGA Metals managing director and CEO Sam Pazuki talked with Proactive about the company's major 2026 exploration campaign in southwestern Newfoundland and Labrador, where field crews have now mobilised ahead of planned diamond drilling at priority gold and critical minerals targets along the Cape Ray Shear Zone.
Pazuki provided an update on exploration activities, noting that while drilling has not yet begun due to a delayed start caused by lingering winter conditions, field teams are now undertaking preparatory work ahead of a drilling campaign expected to begin in the coming weeks.
The company's initial focus is the Isle aux Morts Granite target at Cape Ray West, a large intrusive system located just a few kilometres from AuMEGA's existing gold resource. According to Pazuki, the target has historically been overlooked because previous operators considered the granite unmineralised. Recent work by AuMEGA has challenged that assumption and identified the area as a significant exploration opportunity.
AuMEGA currently holds a gold resource of approximately 610,000 ounces, including around 450,000 ounces in measured and indicated categories, with an average grade of about 2 g/t gold. Pazuki said the company is also reviewing historical and recent drilling data as part of a potential resource update later this year.
The company recently completed a $30 million capital raise, attracting strong support from institutional investors, including strategic shareholder B2Gold and new major investor Condire Investors, which now owns approximately 20% of the company.
For more interviews and market insights, visit the Proactive YouTube channel, give this video a like, subscribe to the channel and enable notifications so you never miss future content.
#AuMEGAMetals #AAM #AUM #GoldExploration #NewfoundlandMining #CapeRay #CapeRayShearZone #GoldStocks #JuniorMining #MiningStocks #GoldDiscovery #ExplorationNews #CriticalMinerals #TSX #ASX #ResourceStocks #B2Gold #CanadianMining #InvestorNews #ProactiveInvestors