Canary Gold Corp. has provided an update on its ongoing exploration activities at the Madeira River Project in Rondonia, Brazil, noting that approximately 300 meters of drilling have been completed from a planned 20,000-meter program. The company emphasized that this early-stage work is focused on testing geological models and building datasets to guide future exploration, with results to date being consistent with its exploration thesis.
Mark Tommasi, President of Canary Gold Corp., stated that the current drilling phase is designed to test the company's geological model and collect data required to refine and prioritize targets. "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," Tommasi said.
The Madeira River Project is located within a broader gold-bearing district that hosts historic and active artisanal workings, including those at Zelia and Santo Antonio, situated immediately contiguous to the north and south of the company's licences. These adjacent workings demonstrate gold endowment within the same regional geological setting being targeted by Canary, though the company cautions that mineralization on nearby properties is not necessarily indicative of mineralization on its own project.
The primary objective of the current drilling campaign is to generate a robust geological dataset that will allow the company to refine targets and vector toward areas of potential mineralization. Canary expects that the 2026 drilling program, informed by results and data collected during the current phase, will be critical in focusing exploration on the most prospective parts of the tenement package.
This exploration update is important because it represents early progress in a high-risk, high-reward exploration strategy targeting concealed gold mineralization beneath transported cover in Brazil's Rondonia State. The Madeira River region is considered one of Brazil's most prospective yet underexplored gold provinces, and successful exploration could potentially unlock significant mineral resources in an area with demonstrated regional gold endowment.
The implications for investors and the mining industry center on the methodical, data-driven approach being employed by Canary Gold. With only a small fraction of the planned drilling completed, the company acknowledges that exploration of this nature requires patience. In a supportive gold market environment, disciplined execution of exploration strategy could yield significant discoveries, though the company cautions that it is too early to determine whether economic mineralization will be intersected.
The scientific and technical information in the update 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 independent laboratory Overburden Drilling Management Ltd.
For additional context regarding the exploration model, regional setting and planned exploration activities, shareholders are encouraged to refer to previous company news releases available through the company's website at https://www.canarygold.ca.
