Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from AuMEGA Metals Ltd.
AuMEGA has reported positive results from a high-resolution airborne magnetic geophysical survey conducted over the Hermitage Gold-Antimony Project in south-central Newfoundland and Labrador, Canada.
The survey covered around 234 square kilometres and revealed significant geological complexity along a 27-kilometre strike length. It identified several second-order and third-order faults, with major geological structures aligning with previously collected high-grade prospecting samples, including 7.31 g/t gold, 193 g/t silver and 2,044 ppm antimony.
The company considers Hermitage a highly prospective opportunity along the second-largest known gold structure in Newfoundland.
The project is geologically comparable to major gold deposits such as Bendigo and Fosterville in Victoria, Golden Mile in Kalgoorlie and Windfall in Quebec.
Although exploration at Hermitage has been limited, early results are encouraging, with multi-gram outcropping gold samples collected.
The survey data will be used for …