
AuMEGA Metals boosts exploration at Cape Ray & beyond
05/08/2025
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7:32
AuMEGA Metals Ltd managing director and CEO Sam Pazuki talked with Proactive's Stephen Gunnion about the company’s 2025 exploration activities at the Cape Ray gold project in Newfoundland.
Pazuki outlined that the first phase of the 2025 drill campaign has been completed, targeting extensions to the company’s existing mineral resource. “We stepped out as large as 600m, 800m away, to see if we can get extensions to the mineral resource,” he explained, noting the company is among the few in the province with a defined resource.
Pazuki highlighted a deliberate shift toward a more methodical and data-driven approach. With the appointment of Michael Skead as president, the company has intensified its focus on pre-drilling groundwork, including rock and till sampling and geological mapping. He said, “We're going through the most comprehensive sampling and mapping program in the history of this belt.”
Beyond Cape Ray, the company is advancing its Bunker Hill and Hermitage projects. Drilling at Bunker Hill has been deferred to late September, with field teams currently carrying out large-scale sampling. Meanwhile, Hermitage is being prepared for a mapping program focused on its gold and antimony potential.
The company maintains a strong treasury of C\$9.2 million and robust institutional backing, including a 10% stake held by B2Gold.
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