Hook Lake Surface Sampling Yields Up to 16.75g/t Gold and 2,660g/t Silver

Exceptional Surface Sampling Highlights Untapped Potential

Manhattan Corporation Limited (ASX – MHC) has announced a significant breakthrough in its exploration efforts at the Hook Lake Project, located in the southeastern Nunavut region of Canada. Recent surface sampling at the Quantum and Lotus prospects, both previously untested by drilling, has returned outstanding precious metal assay results, with gold grades reaching as high as 16.75 grams per tonne and silver up to 2,660 grams per tonne.

These results are particularly compelling as they come from extensive surface exposures rather than isolated samples, indicating the presence of substantial mineralised zones. The mineralisation at Quantum and Lotus follows a northeast to southwest orientation consistent with the structural trend of the nearby Jaws Deposit, suggesting geological continuity across the project area.

Building on Historical Context and Regional Significance

The Hook Lake Project sits within the Rankin-Ennadai greenstone belt, a geological setting known for hosting significant gold deposits, including Agnico Eagle’s Meliadine Mine and B2Gold’s Back River Gold District. The Jaws Deposit, part of Manhattan’s tenure, carries a historical, non-JORC compliant resource estimate of approximately 3.4 million tonnes at 2.38 g/t gold, equating to around 285,000 ounces. While this estimate requires verification through modern drilling and reporting standards, it underscores the project’s potential.

Manhattan’s Technical Manager, Eric Sondergaard, emphasised the importance of the new findings, noting that the results represent the best outcomes to date and confirm the presence of a large, fertile mineralised system capable of hosting multiple deposits. The diversity of mineralisation styles, including shear zones, banded iron formations, and volcanogenic massive sulphide mineralisation, further enhances the exploration upside.

Next Steps – Drilling and Data Integration in 2026

Looking ahead, Manhattan plans to commence a maiden drilling program in 2026 targeting the Quantum and Lotus prospects to validate the surface sampling results and delineate the extent of mineralisation. This program will also aim to expand the understanding of the Jaws Deposit and other prospects within the project pipeline, such as Skyfall, Spectre, Silva, Moonraker, and Defender.

Complementary to drilling, the company is integrating historic exploration data with new geophysical surveys to refine target definitions. The integration of magnetic datasets and induced polarisation surveys is expected to provide further insights into the structural framework and mineralisation controls.

Balancing Opportunity with Caution

While the surface assay results are encouraging, Manhattan acknowledges that the historical resource estimates are not compliant with current JORC standards and require rigorous verification. The company is preparing to undertake modern exploration protocols, including quality control measures and systematic drilling, to upgrade the resource classification and better understand the deposit’s economic potential.

Permitting remains a key step before drilling can commence, with land use and water licenses pending approval from Canadian authorities. Manhattan has secured funding to support these activities, positioning the company to advance its exploration agenda confidently.