Small Cap Watch: It's quarterly season as AuMEGA starts drilling and Aurum advances Boundiali gold project

The S&P/ASX Small Ordinaries Index gained strong ground on Monday as investors returned to emerging resources stocks, with several companies advancing drilling programs, feasibility studies and development plans across gold, copper and uranium projects. The XSO climbed 48.10 points, or 1.47%, to close at 3,326.60. The index has also moved 12.50 points higher over the past five trading days, representing a gain of 0.38%. Small-cap explorers and developers have delivered a series of operational updates spanning Newfoundland and Labrador, Zambia, Côte d’Ivoire and Western Australia. You can read about the following and more throughout the day. AuMEGA begins maiden drilling at new targets AuMEGA Metals Ltd (ASX:AAM, TSX:AUM, OTCQB:AUMMF, FRA:FRA: MA30) has started diamond drilling at the Isle aux Morts Granite and adjoining Cape Ray West area in Newfoundland and Labrador, Canada. The work forms part of the company’s 2026 exploration program along the Cape Ray Shear Zone and marks the first time either target area has been drill-tested. Initial drilling will investigate structural, geochemical and geophysical targets identified through AuMEGA’s regional exploration campaign and updated geological interpretation. The program is designed to test the potential for mineralisation around the Isle aux Morts Granite and across the neighbouring Cape Ray West area. Atomic Eagle extends uranium mineralisation Atomic Eagle Ltd (ASX:AEU, FRA:6QZ0) continued drilling at the Muntanga Uranium...