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AuMEGA Metals to Commence Drilling at Cape Ray Project in Newfoundland and Labrador, Canada
ByAinvest
Sunday, Nov 16, 2025 7:04 pm ET1min read
AuMEGA Metals has begun a diamond drilling program at its Cape Ray Project in Newfoundland and Labrador, Canada, testing a major airborne electromagnetic target within its district-scale landholding. The company is exploring a 110-kilometre land package along the Cape Ray Shear Zone, which hosts Equinox Gold's multi-million-ounce Valentine Gold Project. AuMEGA has defined an Indicated Mineral Resource of 6.2 million tonnes at 2.25 g/t gold for 450,000 ounces and an Inferred Mineral Resource of 3.4 million tonnes at 1.44 g/t gold for 160,000 ounces.
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