AuMEGA Metals Ltd (ASX:AAM, TSX:AUM, OTCQB:AUMMF, FRA:FRA: MA30) has launched diamond drilling at the Isle aux Morts Granite and Cape Ray West in Newfoundland and Labrador, marking the first tests of several priority exploration targets along the Cape Ray Shear Zone.
The campaign represents the opening phase of AuMEGA’s 2026 drilling program and will investigate areas that have never previously been drilled.
Targets were developed by combining geological mapping, surface geochemistry, geophysical surveys and structural interpretation across a comparatively underexplored section of the company’s extensive landholding.
Testing new targets along major gold structure
The Isle aux Morts Granite is a prominent geological feature in the western portion of AuMEGA’s property.
Previous exploration identified prospective structural corridors and geochemical gold anomalies along and adjacent to the granite contact, providing the company with an opportunity to test new geological concepts in a district containing several known gold deposits and mineralised trends.
Drilling will also investigate interpreted structures at Cape Ray West, several kilometres southwest of AuMEGA’s existing mineral resources.
The area is considered prospective because of its position within the broader Cape Ray Shear Zone and supporting geological, geochemical and geophysical indicators.
Initial holes are designed to establish the subsurface geology, test interpreted structures and determine whether alteration or mineralisation is present.
Pipeline of drill targets
AuMEGA managing director and chief executive officer Sam Pazuki said commencing drilling was an important milestone for the company’s 2026 exploration strategy.
“The Isle aux Morts Granite and Cape Ray West areas have emerged as priority targets following the integration of several seasons of geological, geochemical and geophysical work,” he said.
“This comes as we spent much of the past two years building a pipeline of drill targets.”
Pazuki said the early-stage targets were supported by a clear geological rationale and located within a highly prospective structural setting.
“The objective of this initial drilling is to test the underlying geological concepts, improve our understanding of the area and determine whether these target corridors warrant more extensive follow-up,” he said.
Bunker Hill drilling to follow
Once drilling at Isle aux Morts Granite and Cape Ray West is complete, AuMEGA expects to move the drill rig to Bunker Hill later in the northern summer while awaiting assay results from the initial program.
The broader campaign forms part of the company’s systematic approach to evaluating its large and underexplored landholding along the Cape Ray Shear Zone.
Pazuki said the work represented another step toward AuMEGA’s objective of making a major new discovery in Newfoundland.