AuMEGA Metals Launches Fully Funded, Discovery-Focused 2026 Drilling Campaign at Cape Ray

Matador Mining Ltd ( (AU:AAM) ) has issued an announcement.

AuMEGA Metals has outlined a fully funded, discovery-focused exploration program for 2026, leveraging a strong treasury following a recent $30 million financing. The company plans its largest diamond drill campaign since 2021, targeting approximately 10,000 metres with flexibility to adjust based on results.

Three core initiatives will guide the program: Cape Ray resource growth, pursuit of new major discoveries, and continual generation of drill-ready targets across its Cape Ray Shear Zone holdings. Priority work includes up to 5,000 metres of initial drilling at Cape Ray West and the Isle aux Morts Granite, up to 5,000 metres at Bunker Hill later in the season, and systematic relogging of historical core in the Cape Ray Resource Corridor to refine future drilling.

The update also highlights evolving antimony potential at the Hermitage area, where high‑resolution till sampling has defined a strong, coherent anomaly with peak values well above regional benchmarks and open along strike. Management positions this integrated campaign as a key step toward both resource expansion and new discovery, underpinning AuMEGA’s bid to strengthen its footprint and competitiveness along the Cape Ray Shear Zone.

More about Matador Mining Ltd

AuMEGA Metals Ltd is a gold-focused exploration company listed on the ASX, TSXV and OTCQB, with a district-scale land package along the Cape Ray Shear Zone in Newfoundland, Canada. The company is primarily engaged in advancing gold and related mineral resources through targeted drilling and exploration, with a strategy centred on growing its Cape Ray resource base and identifying new high-impact discoveries in the region.

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