AuMega Metals (ASX:AAM) has returned ‘high-grade’ gold results from surface sampling at its Intersection Gold Project in Newfoundland, Canada.
A float sample collected during geological mapping and prospecting returned 100.5 grams per tonne gold (Au). Two additional samples returned 23.8g/t Au and 23.1g/t Au, confirming multiple ‘high-grade’ occurrences within the project area.
The 169km2 Intersection Project sits at the convergence of the Cape Ray Shear Zone and Hermitage Flexure — two of Newfoundland’s largest known gold-bearing structural corridors.
The project contains Windsor Point Group sedimentary rocks and felsic intrusions in a setting comparable to the Valentine Gold District.
CEO Sam Pazuki says the results reflect the company’s ‘systematic exploration approach’.
“By progressively integrating geochemistry, geological mapping, prospecting, geophysics, and structural interpretation, we have identified areas containing high-grade gold mineralisation while generating and expanding the targets that led to our 2026 drilling programs,” Pazuki says.
AuMega’s inaugural exploration program at Intersection in 2024 comprised 914 till samples collected across a 15km by 7km area. The program identified four gold target areas and returned values up to 173 parts per billion gold with associated silver-copper-bismuth anomalies.
The 2026 program included systematic till sampling on a nominal 320m by 80m grid with infill on a 160m by 80m grid. The company collected 56 grab samples during reconnaissance mapping, with assays pending for most.
Additional assay results will be integrated with geological, structural, and geochemical data to design a follow-up exploration program.
The company expects the next phase will include tighter-spaced surficial geochemistry, detailed prospecting, ground geophysics, and advancement of priority targets toward scout drilling.
AuMega Metals is a Canadian explorer advancing gold and critical minerals projects across Newfoundland and Labrador.
Write to JC Villarba at Mining.com.au
Images: AuMEGA Metals
