AuMEGA Begins Drilling and Aurum Advances Boundiali Gold Project
The S&P/ASX Small Ordinaries Index rose by 1.47% on Monday as small-cap resources stocks gained traction, driven by operational updates from several exploration companies across multiple regions. AuMEGA Metals has initiated its maiden drilling program in Newfoundland and Labrador to test mineralization potential around the Isle aux Morts Granite and Cape Ray West area. Aurum Resources advanced its Boundiali Gold Project with a pre-feasibility study outlining significant reserves, projected cash flows of $2 billion over the mine's life, and an internal rate of return of 119%. The project is on track for a final investment decision in Q4 2026. Atomic Eagle extended uranium mineralization at its Muntanga Uranium Project in Zambia. Carnavale Resources also progressed feasibility studies for its Kookynie Gold Project, highlighting ongoing development efforts across the sector.
Topics: AuMEGA Aurum gold exploration uranium projects