Projects

Blue Cove

In May 2024, AuMEGA announced that it has entered into a low cost Option Agreement to acquire the Blue Cove Copper Project (“Blue Cove”) located in southeastern Newfoundland, Canada. Blue Cove is an early-stage, copper ± lead, zinc and silver exploration project with samples that graded up to 10.6% copper and up to 106 g/t silver in historic sampling.

Figure 1: Historical sampling returned 2.15% Cu, 1.5% Cu, 0.9% Cu and 0.7% Cu in chalcopyrite, chalcocite, bornite, malachite and azurite

The Blue Cove Copper Project is in southeastern Newfoundland, approximately 175 kilometres to the east of the Company’s Hermitage Project and approximately 260 kilometres by road west of St. John’s. The Blue Cove option agreement covers 78 non-contiguous claims covering 19.5 km2. In addition to the option agreement, the Company has staked 113 mineral claims covering an additional 28.25 km2 adjacent to the Blue Cove mineral claims, completing approximately 25 kilometres of combined contiguous strike.

Based on the exploration undertaken by West Mining Corp. (“West Mining”)11 and assessed by the Company, the primary targets areas at the Blue Cove Copper Project, include:

  • Blue Cove – Significant outcrop with high-grade copper samples grading up to 5.1% copper and 33.2 g/t silver. Copper sulphide occurs as chalcocite, bornite and chalcopyrite. Notable silver and zinc assays are also present.
  • Ryles Barisway – Known copper mineralisation in outcrop with surface samples grading up to 10.6% copper and up to 91.6 g/t silver.
  • Terrenceville – Copper mineralisation sampling up to 1.8 % copper.
  • Hilltop Grid – Multi-element soil geochemical anomaly with a coincident magnetic low.
  • Harbour Mille – Several high-grade historic copper samples from multiple locations grading up to 4.2% copper and up to 106 g/t silver.
Figure 2: General overview of AuMEGA’s projects

Project Geology and Prospectivity

The Blue Cove Copper Project has confirmed potential for both felsic hosted VMS (volcanogenic massive sulphide) and red bed sedimentary hosted copper deposits. West Mining commenced exploration at Blue Cove in April 2022, collecting 40 rock chip samples across various locations2.

The bulk of the rock sampling was performed at the Blue Cove target area (Figure 3) where 23 representative samples were collected from talus and outcrop3. Of the 23 samples, 13 returned assays greater that 1.0% copper with eight of these samples returning greater than 2.0% copper and the highest-grade sample returned 5.1% copper and 33.2 g/t silver. The results from the other target areas including Ryles Barisway returned values up to 10.6% copper and 91.6 g/t silver4.

In addition to the prospecting program, a reconnaissance soil geochemical and magnetometer geophysical survey was performed by West Mining over selected areas of the property. Approximately 230 soil samples were collected near Hilltop Grid, Ryles Barisway and Blue Cove target areas.

The results of the exploration work5 defined geochemical targets in all areas. A defining multi-element copper, zinc and silver anomaly correlating directly with a geological contact based on magnetic data was defined across the length of the survey area.

Figure 3: Map of the soil survey locations at the Blue Cove Copper Project
  1. West Mining News Release 27 October 2022 “West Mining Provides Update on the Blue Cove Copper Project” ↩︎
  2. West Mining News Release – 2 August 2022 “West Mining Reports Initial Exploration Results for the Blue Cove Copper Project” ↩︎
  3. West Mining News Release – 2 August 2022 “West Mining Reports Initial Exploration Results for the Blue Cove Copper Project” ↩︎
  4. West Mining News Release – 2 August 2022 “West Mining Reports Initial Exploration Results for the Blue Cove Copper Project” ↩︎
  5. West Mining News Release – 28 September 2022 “West Mining Reports Results from Soil Geochemical Sampling and Ground Geophysical Surveying for the Blue Cove Copper Project” ↩︎