AuMEGA Metals – Structural Clarity at Bunker Hill Sharpens Gold and Polymetallic Targeting – A Gold Exploration Story.
- Noel Ong
- 5 minutes ago
- 8 min read
Announcement
AuMEGA Identifies Several Gold and Base Metals Targets – 8 January 2026 (view the announcement)
AuMEGA has been on our platform for many years and the first time we covered them was on the 30th April 2020 before they transformed into a Iain Murray (former Chair of Gold Road Resources Limited) led team and we had a Coffee with Samso in May 7th 2022 "Matador Mining Limited (ASX: MZZ) -The Birth of a Tier-1 Gold Miner".
Matador then transitioned into AuMEGA, and Sam Pazuki was introduced to the ASX and the incoming Chair and Managing Director of Matador Mining, "The transitioning of Leadership - Strengthening Management for Success - Matador Mining Limited -MZZ" (which later became AuMEGA Metals Limited).
When you look at the transition over that period, from 2020 to 2026, it is still in an exploration stage, but it has very big hitters in their shareholding. The B2Gold Corp investment has given AuMEGA a profile that is the envy of most mineral explorers. For this reason, the Samso platform fully understands that in the game of looking for that holy grail of a mineralised and economical gold deposit, one needs shareholders who understand the word patience and have the ability to sustain capital for mineral exploration drilling.
AuMEGA has those two key components, and for this reason, the Samso platform is continuing our coverage, especially in a market that has a surging gold price. Readers also need to understand that AuMEGA has over 800K ounces of gold resource as well.
AuMEGA Metals Ltd (ASX: AAM) has reported the results of its 2025 surficial till geochemistry and geological mapping program at the Bunker Hill Project, located within the Company’s 110-kilometre district-scale landholding along the Cape Ray Shear Zone (CRSZ) in southwestern Newfoundland, Canada (Figure 1).
Figure 1: AuMEGA Metals portfolio on the Cape Ray Shear Zone and Hermitage Flexure (Source: AAM)
The work provides a materially improved understanding of structural controls, system scale, and target prioritisation across Bunker Hill, reinforcing the project’s underexplored potential.
The Business of AuMEGA Metals Limited: Looking for Gold.
Advancing a district-scale exploration strategy across Newfoundland.
Core landholding spans 110 kilometres along the Cape Ray Shear Zone, a major underexplored gold structure.
Exploration approach integrates surficial geochemistry, structural interpretation, and geological mapping.
Strategy focused on refining high-conviction drill targets ahead of capital-efficient drilling programs.
Bunker Hill Project is a core asset within the portfolio.
Bunker Hill represents a large, structurally complex system with limited historical drilling relative to its scale.
Highlights – Structural Corridors Define High-Conviction Gold and Polymetallic Targets
A multi-kilometre gold trend has been defined along the Branch Fault Corridor, a major structure linked to the CRSZ, with minimal historical drilling despite proximity to a previous 1.84 g/t gold intercept.
Figure 2: 2025 surficial geochemical program results (gold-in-till over magnetics) (Source: AAM)
Gold-in-till responses demonstrate continuity and strength, particularly where Branch Fault splays intersect northwest-trending structural lineaments, a pattern now recognised across the project (Figure 3).
Figure 3: Gold-in-till results filtered to >20 ppb Au (source: AAM)
The Nitty Gritty area is emerging as a polymetallic target zone, supported by elevated copper, lead, zinc, and silver responses a nd historical high-grade surface samples.
Re-logging at Nitty Gritty has identified previously unrecognised intrusive textures, materially changing the geological model and reopening the area for follow-up.
A priority target zone at Bunker Hill West has been established, aligned with repeatable northwest–southeast structural orientations observed across multiple corridors.
Additional target areas to the north and southeast highlight broader system scale and reinforce the district-wide structural interpretation.
2026 work programs will prioritise high-conviction drill targets, focusing on scale, structural control, and geological confidence.
Leadership Commentary
AuMEGA Metal’s Managing Director and CEO, Sam Pazuki, commented:
“The winter drilling at Bunker Hill in the first quarter of 2025 gave us a starting point. The surficial geochemistry has filled in the missing context and provided more encouraging data. We are dealing with a much larger, more connected system than originally interpreted. We’re now seeing multiple and broad gold and base metals responses along major structural corridors that are significantly underexplored.
“What stands out is how the new data ties together with previous data from the limited drilling and historic exploration work with entirely new, previously unrecognised trends emerging. This has expanded our opportunities and tightened our focus whereby we’re not just adding targets, we’re upgrading the quality of the targets.
“The broader Nitty Gritty area is the best example of that shift. While earlier drilling didn’t return economic hits, the re-logging has revealed intrusive textures that were missed the first time around. Combine that with elevated copper, lead, zinc and silver responses and historical high-grade surface till and grab samples, and it’s emerging as a legitimate polymetallic opportunity. That changes the conversation for this part of the project.
“We are integrating the entire 2025 dataset, ranking our growing list of targets, and positioning ourselves for focused drill programs in 2026. The work completed last year has materially increased our confidence in where capital should be deployed, and we’re now in a stronger position to pursue a more meaningful outcome at Bunker Hill.”
About the Project
The Bunker Hill Project lies within the Cape Ray Shear Zone, Newfoundland’s largest identified gold structure. The 2025 program comprised 2,812 till samples across 3,301 stations, collected on systematic grids and integrated with geological mapping and previous airborne magnetics:
Multi-element anomalies are supported by historical high-grade surface samples, expanding the exploration focus beyond gold.
Surficial geochemistry highlights elevated copper, lead, zinc, and silver responses.
🔹Copper-in-till results at Bunker Hill highlight coherent copper anomalies aligned with key structural corridors (Figure 4), including the Nitty Gritty and additional copper target areas, reinforcing the project’s emerging polymetallic potential.
Figure 4: Copper-in-till results (source: AAM)
🔹Lead-in-till results at Bunker Hill show elevated lead responses coincident with key structural trends and the Nitty Gritty target area (Figure 5), supporting the emerging polymetallic signature identified across the project.
Figure 5: Lead-in-till results (source: AAM)
🔹Zinc-in-till results at Bunker Hill show coherent zinc anomalies aligned with key structural corridors (Figure 6), particularly around the Nitty Gritty target area, further reinforcing the project’s emerging polymetallic signature.
Figure 6: Zinc-in-till results (source: AAM)
🔹Silver-in-till results at Bunker Hill outline elevated silver responses that coincide with key structural corridors and the Nitty Gritty target area (Figure 7), strengthening the interpretation of a coherent polymetallic system across the project.
Figure 7: Silver-in-till results (source: AAM)
This dataset has improved source attribution for gold and base metals, supporting more disciplined and targeted drill planning across structurally favourable corridors.
Near-term Milestones to Watch
Extension of till sampling and mapping north of the Branch Fault Corridor
Regional surficial geochemistry towards the Intersection Prospect
Detailed 1:5,000 geological mapping and channel sampling over priority anomalies
Focused diamond drilling program planned for summer 2026 targeting high-conviction areas
Pending assays from Isle aux Morts Granite, Hermitage geochemical surveys, and Cape Ray drilling, expected in Q1 2026
Samso Concluding Comments
The announcements are outlining an emerging structure-driven mineralisation. The Branch Fault Corridor and its splays are no longer conceptual features as there is now coherent data and geochemical responses.
The polymetallic potential at Nitty Gritty adds to the Bunker Hill story. While still early-stage, the combination of base metals, silver, and intrusive textures broadens the exploration optionality.
The consistency of northwest–southeast structural trends across multiple corridors suggests a district-scale control rather than isolated anomalies. That observation materially elevates the exploration thesis. Scale is always your friend in mineral exploration.
For investors, this is a reminder that patient, methodical exploration can unlock value not through headlines, but through understanding the system. Bunker Hill is now being advanced with that mindset.
Market Implications
AAM has a market capitalisation of AUD $31.56M as of the 9th January 2025, which is not really high for a company that has over 800K ounces of gold resource and a major shareholder like B2Gold. There is support from high net worths to keep the exploration programs going, and this is very important. As far as the market sentiment, it is plainly obvious that the gold explorers have the attention. By the looks of things, 2026 is also going to be a good year for gold explorers.
Figure 8: AAM share price chart as of 9th January 2025. (source: CommSec)
The share price chart you see in Figure 8 shows a fairly decent zone of buy and sell, and I am sure that the market is going to respond to good results when they come to the market, or not.
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