Manhattan Gold Extends High-Grade Gold Zones at Nunavut’s Jaws Target

Broad High-Grade Gold Zones Confirmed at Jaws

Manhattan Gold Corporation Limited (ASX:MHC) has reported a strong follow-up to its initial drilling success at the Jaws gold target, part of the Hook Lake Project in Nunavut, Canada. The second round of assay results reveals multiple broad gold intercepts with grades and thicknesses surpassing historic 1988 drilling, extending confirmed mineralisation over 150 metres to the southwest.

Standout intercepts include 25.90 metres at 1.59 grams per tonne (g/t) gold from 89.92 metres, featuring a higher-grade core of 6.10 metres at 3.62g/t Au, and a 35.05-metre interval at 1.23g/t Au from 124.97 metres, including 9.14 metres at 2.52g/t Au and a remarkable 1.52 metres grading 26.8g/t Au. These results underscore a broad mineralised system with stacked quartz veins and confirm the continuity of high-grade zones nearer surface and at depth.

Significant Upside Compared to Historic Drilling

Key drillholes such as JWS26003b and JWS26006 have returned thicker and higher-grade intervals than the nearest historic holes from 1988, indicating material upside on the historic dataset. For example, JWS26003b intercepted 12.2 metres at 1.54g/t Au, including 3.04 metres at 4.98g/t Au, while JWS26006 confirmed near-surface continuity with 22.86 metres at 2.37g/t Au, including a very high-grade 1.52 metres at 26.8g/t Au.

These thicker intervals may reflect improved drill orientation, with Manhattan’s program drilling perpendicular to the strike of mineralisation rather than down-dip as in historic campaigns, providing a clearer picture of true thickness and expanding the potential size of the deposit.

Expanding the Known Mineralised Footprint

Drillhole JWS26005 extended the strike length of confirmed mineralisation by 154 metres to the southwest, returning 25.90 metres at 1.59g/t Au, including 6.10 metres at 3.62g/t Au. This expansion beyond the initial drill area confirms that the mineralised system remains open along strike and at depth, a positive signal for resource growth potential.

Pending assay results from drillholes targeting deeper zones and underexplored areas, such as JWS26008 which tested below all historic drilling at Jaws, will be critical to understanding the full extent of the system. Additionally, three holes have been completed at the Spectre volcanogenic massive sulphide (VMS) target and the first-ever drillhole into the Lotus precious metals target, both promising new fronts within the Hook Lake Project.

Broader Exploration Activities and Project Potential

Complementing the drilling program, Manhattan has initiated a regional till sampling campaign designed to evaluate along-strike extensions and high-priority targets within the Omega banded iron formation (BIF). This geochemical survey will integrate with recent magnetic and LiDAR data to refine structural interpretations and guide future drill targeting.

The Hook Lake Project covers 665 square kilometres within the Rankin-Ennadai greenstone belt, a prolific Canadian gold province hosting significant deposits such as Agnico Eagle’s Meliadine mine. Jaws remains the flagship target with a historic “foreign” resource estimate of 3.4 million tonnes at 2.38g/t Au (~285,000 ounces), though this estimate is not JORC-compliant and is being revisited with modern exploration techniques.

Technical Advisor Eric Sondergaard highlighted the significance of the results, noting that Manhattan’s drilling is revealing a larger and higher-grade system than previously understood, with immediate upside from the polymetallic Spectre VMS target and the untested Lotus gold-silver prospect. The company has now drilled over 3,000 metres at Hook Lake in 2026, underscoring its commitment to unlocking the project’s full potential.