Bunker Hill RC Hole CRC0284 Returns 417 ppb Gold Over Six Metres on Branch Fault

Winter Drilling Program Delivers Early Success

AuMEGA Metals Ltd has announced encouraging results from its recently completed winter drilling campaign at the Bunker Hill Project, situated along the prolific Cape Ray Shear Zone in Newfoundland and Labrador, Canada. The program comprised 147 reverse circulation (RC) holes totaling 1,390 metres, complemented by 14 diamond drill holes spanning 3,670 metres. This extensive effort focused on sampling beneath glacial cover to detect gold mineralization in bedrock, a challenging but critical step in exploring this under-explored region.

Discovery of Gold on a Major Structural Target

The standout highlight from the RC drilling was hole CRC0284, which intersected an average of 417 parts per billion (ppb) gold over six metres starting just two metres below surface. This hole targeted the Branch Fault, a significant splay off the Cape Ray Shear Zone, located five kilometres from a historic high-grade gold outcrop of 18.7 grams per tonne. Alongside gold, the hole also returned notable silver and lead values, with visual evidence of finely disseminated galena, a key pathfinder mineral for gold in the district.

Additional RC holes also returned anomalous gold values, including 219 ppb, 160 ppb, and 129 ppb gold in bedrock samples, reinforcing the prospectivity of the structural corridor between the Nitty Gritty and Bunker Hill West targets. These results validate the use of bottom-of-hole (BOH) and base-of-till (BOT) sampling techniques, which, although rarely applied in Canada, have proven successful in major gold provinces like Australia and Scandinavia.

Diamond Drilling and Next Steps

Following the promising RC results, AuMEGA mobilized diamond drilling to test the Branch Fault at depth, completing two holes beneath CRC0284. Assay results from these diamond holes are pending, but their completion marks a critical step toward understanding the vertical extent of mineralization. The company plans to resume fieldwork at the nearby Cape Ray Project in mid-May, including an airborne electromagnetic survey, followed by a 5,000-metre diamond drill program starting in June. A further 5,000 metres of diamond drilling is scheduled at Bunker Hill from mid-July, focusing on Bunker Hill West and other high-priority targets.

Strategic Position and Funding

AuMEGA’s projects lie within Newfoundland’s largest identified gold structure, the Cape Ray Shear Zone, which hosts Calibre Mining’s Valentine Gold Project, one of the region’s largest gold deposits. AuMEGA’s existing Mineral Resource totals over 600,000 ounces of gold, underscoring the district-scale potential. With a strong cash position of C$13.1 million at the end of Q1 2025, the company is well-funded to execute its aggressive exploration plans throughout the year.

Managing Director Sam Pazuki highlighted the significance of the results, noting the confirmation of gold associated with galena on a major structure and the potential for further discoveries using these innovative sampling methods in Canada. The pending assay results from diamond drilling and base-of-till samples will be pivotal in refining targets and advancing the project toward resource expansion.