Manhattan Gold raises A$4.5 million to extend Hook Lake drilling

Manhattan Gold Corporation Limited has secured firm commitments for a placement of up to A$4.5 million to fund continued exploration at its Hook Lake gold and polymetallic project in Nunavut, Canada. The ASX-listed company will issue up to 225 million shares at A$0.02 each, before costs, with the capital directed primarily toward its 2026 drilling program.

The raise follows a series of encouraging results from the Jaws target, where recent reverse-circulation drilling has expanded the known mineralised footprint and delivered higher-grade intervals than much of the historical drilling. For Manhattan, the financing provides additional runway to test whether Jaws can develop into a larger and more coherent gold system, while also advancing several less-developed targets across Hook Lake.

Manhattan plans to apply the proceeds to more than 4,000 metres of further RC drilling, including additional holes at Jaws and first-pass testing at the Omega banded-iron formation prospect. The company also expects to receive 14 drillhole assays from across Hook Lake, covering Jaws, the Spectre volcanogenic massive sulphide system and the Quantum, Lotus and Omega targets.

The broader work program includes project-scale till sampling, channel sampling, geophysical surveys and consulting support after drilling is completed. That combination is designed to improve target generation beyond the currently most advanced Jaws prospect, particularly in areas where glacial cover may obscure surface mineralisation.