Manhattan Gold Contracts First Modern Drilling Campaign at Nunavut’s Hook Lake

Manhattan Corporation ( (AU:MHC) ) just unveiled an update.

Manhattan Gold Limited has awarded a 4,000m reverse circulation drilling contract at its Hook Lake Project in Nunavut to Canadian contractor Northspan Explorations, marking the company’s first modern drilling campaign there since historical work in 1988. The 2026 field season will begin in April with mobilization and camp setup, launching a program designed to rapidly assess multiple gold and polymetallic targets across the district.

Drilling will test strike extensions at the Jaws prospect, conduct maiden programs at Quantum and Lotus, evaluate shallow polymetallic potential at Spectre, and probe untested banded iron formation gold targets at Omega, supported by high-resolution aeromagnetic data. A glacial till sampling survey, aided by SLR Consulting, will refine targets for a follow-up diamond drilling campaign later in the year, positioning Hook Lake as a potentially district-scale contributor in a Nunavut gold sector already buoyed by major BIF-hosted operations.

The most recent analyst rating on (AU:MHC) stock is a Sell with a A$0.02 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 Limited is an Australia-listed exploration company focused on gold and polymetallic discoveries, with key assets including the Hook Lake Project in Nunavut, Canada. The company is targeting orogenic and banded iron formation–hosted high-grade gold, as well as copper-, zinc-, and silver-rich volcanogenic massive sulphide systems in an underexplored greenstone belt.

YTD Price Performance: -14.29%

Average Trading Volume: 1,164,666

Technical Sentiment Signal: Strong Sell

Current Market Cap: A$13.49M

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