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Matador Mining Ltd ( (AU:AAM) ) has shared an announcement.
AuMEGA Metals has elevated the Isle aux Morts Granite at Cape Ray West to a top-priority exploration target after multi-element surficial geochemistry revealed large, coherent gold-in-till anomalies coincident with elevated copper, molybdenum and bismuth. The work indicates intrusive-centred metal zonation and structurally controlled mineralisation over several kilometres, overturning the historical view of the intrusion as non-mineralised and opening a new exploration search space within the district. By integrating geochemistry, structural interpretation, and airborne geophysical datasets, the company has established a new targeting framework that refines priority targets within and along the margins of the granite, with a follow-up program of infill sampling, mapping, channel sampling and drilling planned for the 2026 field season. This advancement strengthens AuMEGA’s pipeline of high-impact targets adjacent to its existing resource corridor and could materially enhance its growth prospects at Cape Ray if future drilling confirms a significant gold and/or copper system.
The most recent analyst rating on (AU:AAM) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Matador Mining Ltd stock, see the AU:AAM Stock Forecast page.
More about Matador Mining Ltd
AuMEGA Metals Ltd is a gold-focused exploration company listed on the ASX, TSXV and OTCQB, with a 110-kilometre landholding along the Cape Ray Shear Zone in southwestern Newfoundland, Canada. Its existing resource corridor currently hosts a defined gold mineral resource comprising 450,000 ounces of Indicated Resources and 160,000 ounces of Inferred Resources, positioning the company as an active player in the exploration and development of structurally controlled gold systems in the Cape Ray district.
Average Trading Volume: 1,260,441
Technical Sentiment Signal: Sell
Current Market Cap: A$31.58M
See more insights into AAM stock on TipRanks’ Stock Analysis page.