Hook Lake Expansion Adds 81km² with Historic Gold Assays up to 16.6g/t

Expanding the Footprint

Manhattan Gold Corporation Limited (ASX:MHC) has announced a strategic expansion of its Hook Lake Project in Nunavut, Canada, by acquiring six new mineral claims covering an additional 81 square kilometres. This expansion extends the company's exploration footprint westward into a highly prospective greenstone belt known for its gold endowment, situated just 30 kilometres from the existing project area.

The newly secured claims encompass some of the largest gold and arsenic anomalies recorded in the Kaminak Greenstone Belt, according to historical Geological Survey of Canada data. Notably, these anomalies have never been subjected to modern drill testing, presenting a compelling opportunity for discovery.

Historic Sampling Highlights

Surface channel sampling conducted in 1990 revealed a 7.7-metre zone of gold anomalism, with assays reaching 5.75 grams per tonne (g/t) over 1.5 metres and peak values hitting 17.14 g/t over 0.3 metres. Follow-up rock chip sampling in 2000 confirmed these findings, returning assays up to 16.6 g/t gold from locations over 650 metres away from the original discovery zone. These results underscore the broader scale potential of the mineralised system.

Geological features such as extensive quartz veining and sulphide mineralisation associated with mafic volcanic and gabbro units suggest an orogenic gold style deposit, similar to other significant gold occurrences in the region. The project lies near the Turquetil Shear Zone, which hosts the Jaws gold deposit, a non-JORC compliant resource estimated historically at 285,000 ounces at 2.38 g/t gold.

Advancing Exploration with Modern Techniques

Manhattan is poised to resume a high-resolution airborne magnetic survey over the expanded claim area. This geophysical work is expected to refine structural interpretations and help identify drill targets beneath glacial till cover. The magnetic survey, flown on a 100-metre line spacing, will integrate with surface geological mapping and sampling to generate a robust pipeline of drill-ready targets.

The company plans to commence its maiden reverse circulation drilling program at Hook Lake in April 2026, aiming to test priority targets including the newly acquired claims. This drilling campaign represents a critical step in validating the historic anomalies and advancing the project toward resource definition.

Strategic Positioning in a Tier-1 Jurisdiction

Manhattan’s expansion and exploration strategy reflects its ambition to become a significant regional player within this underexplored greenstone belt. The acquisition of mineral claims through staking is a cost-effective approach that offers substantial upside potential. The company’s commitment to responsible exploration includes partnerships with Inuit and First Nations communities, aligning with best practice in northern Canada.

While the historic resource estimates and sampling data provide encouraging signs, they are not compliant with current JORC reporting standards and require verification through modern exploration methods. The upcoming drilling and geophysical programs will be pivotal in confirming the project's true potential.