Canary Gold Corp. has reported encouraging early results from its ongoing drill program at the Madeira River Project in Brazil, supporting the identification of a potentially significant paleochannel gold system. Recent shallow drilling targeting interpreted paleochannel environments has intersected continuous sand and gravel horizons ranging from approximately 1 to 3 metres in thickness at depths of 10 to 20 metres, consistent with the company's geological model for preserved auriferous fluvial systems.
Gold has been recovered from seven consecutive drill holes completed along a single drill fence extending 200 meters, demonstrating lateral continuity within the target horizon. Two of these holes returned gold grain counts over approximately 3 metre vertical intervals, with individual samples yielding in excess of 105 fine gold grains. These represent the highest gold grain counts recorded to date across the company's project area and compare favorably with internal benchmark samples. The company emphasizes that gold grain counts are not equivalent to gold grade and should not be interpreted as a measure of gold concentration or economic viability.
Based on these early-stage results, the company's preliminary interpretation indicates a preserved paleochannel system width exceeding 200 metres has been intersected. While still at an early stage of exploration, these results indicate potential for a laterally extensive gold-bearing system, subject to additional drilling, sampling, and analysis. The identification of lithologies associated with the Mocururu Formation in multiple drill holes provides further support for the company's exploration model and targeting approach.
Canary Gold is advancing systematic follow-up drilling, including step-out holes along parallel fences, to better define the geometry, continuity, and controls on gold distribution within the system. The company is also implementing enhanced sampling and analytical protocols to support more robust quantitative evaluation. Operational capacity continues to improve, with additional equipment deployed to optimize drilling efficiency and sample recovery. A combined air-core/reverse circulation rig is expected to be mobilized in the near term, which is anticipated to accelerate drilling and expand coverage across the broader target area.
"We consider these results a breakthrough in our exploration efforts at Madeira," said Mark Tommasi, President of Canary Gold Corp. "The consistency of the geology, combined with gold recovered across multiple consecutive holes, gives us increasing confidence that we are vectoring into a meaningful gold-bearing system. While still early, we are highly encouraged by what we are seeing and are moving systematically to define the scale and continuity of this target."
The scientific and technical information 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. Verification included assessment of sampling methods, chain-of-custody protocols, and analytical methods used by Overburden Drilling Management Ltd., an independent Canadian laboratory specializing in heavy-mineral evaluation. Sample splits were subsequently submitted to Overburden Drilling Management Ltd. at https://www.overburden.com and SGS - Geosol Laboratories Ltd at https://www.sgs.com, both independent analytical laboratories, for further analysis.
This news is significant because it represents early-stage validation of exploration theories in Brazil's Madeira River region, an area described as one of Brazil's most prospective yet underexplored gold provinces. The results could indicate the presence of a substantial gold system, which if confirmed through further exploration, could have implications for regional mining development, investment in Brazilian mineral exploration, and global gold supply. For investors and the mining industry, these results demonstrate the potential of systematic exploration in underexplored regions and highlight the importance of geological modeling in mineral discovery.
