Manhattan Gold Cleared to Begin Drilling at Nunavut’s Hook Lake Project

Manhattan Corporation ( (AU:MHC) ) has shared an announcement.

Manhattan Gold Corporation has secured a positive screening decision from the Nunavut Impact Review Board for its Hook Lake Project in Canada, covering both high-grade orogenic gold and nearby VMS polymetallic targets. Land and water use permits for up to seven years are being finalised for its subsidiary, enabling reverse circulation and diamond drilling to start in April 2026.

Local backing has emerged as a key feature of the approval, with the Hamlet of Arviat and the Kivalliq Inuit Association endorsing the exploration program for its potential employment, skills and business benefits. With regulatory hurdles cleared and community support in place, Manhattan is moving to complete permitting, mobilise a camp and commence drilling, marking a major step forward in the project’s development trajectory.

The most recent analyst rating on (AU:MHC) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Manhattan Corporation stock, see the AU:MHC Stock Forecast page.

More about Manhattan Corporation

Manhattan Gold Corporation Limited is an ASX-listed mineral exploration company focused on high-grade orogenic gold and volcanogenic massive sulfide polymetallic deposits containing copper, zinc, gold and silver. The company is advancing its Hook Lake Project in Nunavut, Canada, reflecting a strategic focus on exploration-stage assets in a supportive regulatory and community environment.

Average Trading Volume: 960,831

Technical Sentiment Signal: Sell

Current Market Cap: A$15.73M

Learn more about MHC stock on TipRanks’ Stock Analysis page.