Manhattan Corporation Limited has announced that it is set to commence fieldwork at its Hook Lake Project in eastern Nunavut, Canada, following approvals from the Nunavut Land Planning Commission and the Kivalliq Inuit Association. The planned on-site activities include detailed geological mapping, prospecting, and rock chip sampling aimed at both known orogenic gold and polymetallic volcanogenic massive sulphide (VMS) prospects. Additionally, an airborne magnetics survey will be carried out to refine the structural framework and target under-explored banded iron formation (BIF) hosted gold potential. The project’s flagship target, the Turquetil Lake High Grade Gold deposit, carries a historical “foreign” estimate of approximately 3.4 million tonnes grading 2.38 g/t gold (about 285,000 ounces), with rock chip sampling in 2017 showing gold grades as high as 19.7 g/t. The work package will also focus on the Heninga Lake VMS prospect, where previous drilling returned significant intersections such as 10.51 meters at 2.91% copper, 6.70% zinc, 95.67 g/t silver, 1.04 g/t gold and 0.48% lead, as well as other multi-metal occurrences. The field programme is designed to locate historic drillholes for potential re-assay and further delineation in the lead-up to a maiden drilling campaign aimed at fast-tracking Turquetil to a JORC compliant resource. Manhattan Corporation’s CEO, Mr Kell Nielsen, highlighted the rapid securing of formal agreements with local Inuit landowners and the region’s proven track record with major gold mines as key attractions. He emphasized the company’s intention to expand the resource at Turquetil, which spans a 1.6 km strike length, while also exploring surrounding prospects, including those with promising BIF hosted gold and additional VMS systems. The comprehensive exploration plan includes compiling digital data and integrating historical drillhole information, mapping, geophysical surveys, and further target refinement to support future drilling and resource upgrade efforts. The news brings both potential upsides and challenges. On the bullish side, Manhattan Corporation Limited is advancing exploration in an underexplored, high-grade greenstone belt with significant historical intercepts and locally secured land access, which could elevate the asset to a Tier One project if drilling confirms the historical data. Strong regional infrastructure, government and indigenous support, and the prospect of upgrading an existing “foreign” estimate into a JORC compliant mineral resource add further appeal. Conversely, the announcement also acknowledges that historical estimates are not compliant with current industry codes and require extensive validation. The reliance on historical data, along with the inherent risks of exploration in remote and complex geology, presents potential headwinds that investor cautiousness is warranted until further verification work is completed.