AuMEGA Discovers Major Untested Anomaly at Cape Ray

AuMEGA Metals Ltd (ASX: AAM) has announced a significant breakthrough at its Cape Ray Project in Newfoundland and Labrador, following the completion of an Airborne Time Domain Electromagnetic survey. The results confirmed strong conductivity at the Central Zone, the project’s largest gold deposit, and unveiled a major new anomaly just 500 metres southeast of this zone.

Remarkably, this area has never been drilled tested, despite historical sampling returning exceptionally high grades of 111.5 g/t gold nearby. The newly defined anomaly mirrors the geophysical characteristics of known mineralisation at Central Zone, suggesting strong potential for new gold-bearing trends. In addition, the survey highlighted several other conductive anomalies across underexplored areas, expanding AuMEGA’s exploration pipeline. With a fully funded drill program scheduled for Q4 2025, the company is well positioned to test these promising targets and advance Cape Ray as a potential new mining district in Canada.

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