Canary Gold Corp. (CSE: BRAZ; OTC: CNYGF; Frankfurt: K5D) has provided an exploration update on its Madeira River Project in Rondonia, Brazil, as the company progresses with a large-scale systematic drilling programme. The update highlights that approximately 300 metres of drilling have been completed from a planned 20,000-metre programme, with results consistent with the company's geological model but insufficient to confirm economic mineralisation.
The company's exploration strategy focuses on identifying gold mineralisation concealed beneath transported cover, requiring a methodical, data-driven approach. Mark Tommasi, President of Canary Gold Corp., stated, "This phase of drilling is focused on testing our geological model and building the dataset required to guide future exploration. While the programme remains at an early stage, the information collected to date is consistent with our stated exploration approach and will be used to progressively refine and prioritize targets."
Canary cautioned that it is too early to determine whether economic mineralisation will be intersected. The initial drilling phase is designed to test the underlying geological model and collect data to refine targets. Encouragingly, results obtained to date support the geological framework of the Madeira River Project, providing confidence that the targeting approach is appropriate.
The Madeira River Project is located within a broader gold-bearing district that hosts historic and active artisanal workings, including at Zelia and Santo Antonio, situated adjacent to the company's licences. These workings demonstrate gold endowment within the same regional geological setting. However, the company noted that mineralisation on adjacent or nearby properties is not necessarily indicative of mineralisation on its project.
The primary objective of the current drilling campaign is to generate a robust geological dataset to refine targets and vector towards areas of potential mineralisation. Canary expects that the 2026 drilling programme, informed by results from the current phase, will be critical in focusing exploration on the most prospective parts of the tenement package.
The company acknowledges that exploration of this nature requires patience. With only a small fraction of the planned drilling completed, Canary believes it is still in the early stages of unlocking the potential of the Madeira River Project. In a supportive gold market environment, the company remains committed to disciplined execution of its exploration strategy and providing transparent updates.
Shareholders are encouraged to refer to previous company news releases for additional context regarding the exploration model, regional setting, and planned exploration activities. Figures illustrating the planned drilling layout and radiometric data are available in the original release.
The scientific and technical information in this news release has been reviewed and approved by Andrew Lee Smith, P.Geo., Executive Director of Canary Gold Corp., who is a "Qualified Person" as defined under National Instrument 43-101. Mr. Smith is not independent of the company, as he holds an executive and board position.
For further information, contact Mark Tommasi, President of Canary Gold Corp., at (604) 318-1448 or visit www.canarygold.ca.
