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Manhattan Corporation ( (AU:MHC) ) has issued an announcement.
Manhattan Gold Corporation has secured approval from the Kivalliq Inuit Association to expand its mineral exploration agreement with Nunavut Tunngavik Incorporated, increasing its Inuit-owned land tenure at the Hook Lake Project to 338 square kilometres. This expansion consolidates its total exploration footprint in the region to about 665 square kilometres, capturing key Banded Iron Formation that hosts important shear zones and folding associated with gold mineralisation.
The updated agreement grants Manhattan 100% mineral interest over the expanded Inuit land parcels for 20 years and underscores strong support from Inuit communities and regulators, including approvals from local Arviat authorities and the Nunavut Impact Review Board. With camp mobilisation underway, the company is set to begin reverse circulation drilling and resume high-resolution airborne magnetic surveys, positioning it to systematically test the scale of the gold and polymetallic system at Hook Lake and potentially enhance its strategic standing in a major underexplored greenstone belt.
More about Manhattan Corporation
Manhattan Gold Corporation Limited is an Australian-listed mineral exploration company focused on gold and polymetallic projects, notably within Canada’s highly prospective Rankin-Ennadai Greenstone Belt in Nunavut. Through its wholly owned Canadian subsidiary 6106 Resources, the company is building a substantial landholding at the Hook Lake Project to explore orogenic gold and associated mineral systems.
Average Trading Volume: 1,354,340
Technical Sentiment Signal: Sell
Current Market Cap: A$13.84M
See more insights into MHC stock on TipRanks’ Stock Analysis page.