AuMEGA Metals Ltd (ASX: AAM) Mineral Exploration Update – July 2025 Unlocking Discovery Potential Across Cape Ray, Bunker Hill and Hermitage.
- Noel Ong
- Aug 10
- 6 min read
Announcement
In its 29 July 2025 announcement, AuMEGA Metals Ltd (ASX: AAM | TSXV: AUM | OTCQB: AUMMF) delivered a substantial mineral exploration update covering three major Canadian projects—Cape Ray, Bunker Hill, and Hermitage. With a fully funded program and a strong C$9.2 million treasury, AuMEGA is aggressively expanding its data-driven strategy across Newfoundland’s Cape Ray Shear Zone, Canada’s largest known gold-bearing structure (Figure 1).
Figure 1: Historic surficial geochemical footprint and pit shell outlines. (source: AAM)
This update underscores the company’s technical shift under new leadership, focusing on systematic geochemical mapping, targeted diamond and RC drilling, and efficient resource extension strategies to maximise discovery opportunities.
1. Key Mineral Exploration Highlights & Summary – Cape Ray Project
Phase One Diamond Drilling Completed:
A total of 2,559.7 metres drilled across nine holes targeting extensions of Central Zone and Window Glass Hill. Initial assays are expected in mid-August 2025 (Figure 2).
Figure 2: Cape Ray 2025 Drill Program – Phase One (source: AAM)
Largest Till Geochemistry Program Ever at Cape Ray:
Approximately 1,500 till samples being collected across 16 km² at Cape Ray West to integrate with recent airborne EM and magnetics data, refining future drill targets (Figure 3).
Figure 3: Cape Ray West Till and Rock Sampling Program (source: AAM)
Resource Base:
Cape Ray currently hosts 420 koz of Indicated and 141 koz of Inferred gold resources at 2.25g/t and 1.44g/t Au, respectively.
Modern Approach:
EM survey completed in May 2025 with interpretation underway, designed to find geophysical signatures analogous to known deposits.
2. Key Mineral Exploration Highlights & Summary – Bunker Hill
⮞ Winter Drilling Program:
147 RC holes (1,397m) and 15 diamond drill holes (3,673.25m) completed. One intercept (CRD396) returned 1.84g/t Au over 1m, highlighting the Branch Fault as a key structural feature (Figure 4).
Figure 4: 2025 Winter Drill Program at Bunker Hill (source: AAM)
No Significant High-Grade Intersections Yet:
While assays yielded strong geological insights, no material intersections were recorded in this phase. Follow-up drilling deferred to late Q3 or early Q4 2025.
Geochemical Till Sampling to Direct Next Drill Phase (Figure 5):
Bunker Hill West: Over 600 till samples across 19 km².
Bunker Hill Central: 3,800 samples across 56 km², covering Branch Fault and Nitty Gritty targets.
Figure 5: 2025 Bunker Hill Sampling Program (source: AAM)
3. Key Mineral Exploration Highlights & Summary – Hermitage
Largest Program in Hermitage History:
Over 1,700 geochemical till samples to be collected in Q3 2025, targeting known high-grade anomalies identified through historical airborne magnetic surveys and prior surface work (Figure 6).
Figure 6: 2025 Hermitage till geochemical sampling and mapping program (source: AAM)
Systematic Coverage:
The program will prioritise the central region of Hermitage, where 2023–2024 sampling and magnetic results suggested strong gold prospectivity.
Managing Director and CEO, Sam Pazuki, Commented:
“We have further enhanced our exploration program—one that is now more focused, more data-driven, and designed to maximise return on investment and unlock shareholder value… We are now addressing resource growth potential beyond pit shells, which historically had limited step-out work. I’m genuinely excited about what lies ahead.”
Samso Concluding Comments
AuMEGA Metals’ latest exploration update is showing the focus of the company and maintaining its exploration standards. The transition from broad scout-style programs to methodical, data-led exploration is part of the mineral exploration process so there is nothing going waywards. The programs at Cape Ray, Bunker Hill, and Hermitage are coordinated, technically robust, and backed by a clear understanding of structural controls and glacial overburden challenges that have previously limited discovery in the region. This recalibration reflects a more disciplined and potentially more rewarding approach.
The decision to aggressively pursue till geochemistry across three high-priority projects signals a company that is using what it has learnt from its exploration programs which is a good sign that they are progressing well as they refine the cost-efficiency of geochemical vectors ahead of drilling.
With 1,500 samples at Cape Ray West, 4,400 across Bunker Hill West and Central, and another 1,700 at Hermitage, AuMEGA is laying down a data framework that should significantly de-risk its future drill targeting. This is how discoveries are normally and historically made—by narrowing the field with science before deploying the drill bit.
While assay results from recent drilling were mixed—especially at Bunker Hill—the context is important. These were largely exploratory holes designed to build structural understanding, not necessarily to deliver headline grades. I like the fact that AuMEGA is playing the long game, leveraging its strong treasury and strategic landholding to build a case for potential resource expansion and new discovery. This is a smart use of capital and time in an environment where cost control and exploration efficiency matter more than ever.
Figure 7: The AAM share price chart as of 5th August 2025. (source: commsec).
For ASX investors looking at the gold space, AuMEGA stands out as a junior with serious intent, a well-funded budget, and a pipeline of quality targets. The company’s 110 km of tenure along the Cape Ray Shear Zone—including areas adjacent to Equinox Gold’s multi-million-ounce Valentine Project—offers clear leverage to discovery success. With strong institutional backing, technical credibility, and a proactive exploration model, AuMEGA is one to watch closely in the second half of 2025.
The share price chart in Figure 7 looks like its on a holding pattern which is a good sign that the market is patient. This is a big company exploration play and for those investors who are patient and understand the time for a real exploration discovery will hang around. A market capitalisation of AUD $24.84M is a good number. I want to remind readers of the success of Gold Road Resources was all about exploration success with patience so take note.
For those who are interested in the Gold Road Resources story and the discovery of the Gruyere Gold Deposit, check it out here:
The Samso Way – Seek the Research
Understanding early-stage exploration stories like AuMEGA’s means going beyond headline intercepts. It’s about scale, targeting strategy, funding strength, and leadership. At Samso, we follow explorers who build data-rich, geologically sound roadmaps toward discovery, and AuMEGA is doing just that. Keep watching as the next assay sets come in and the drill rigs return later in the year.
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