Canary Gold Corp. (CSE: BRAZ; OTCQB: CNYGF; Frankfurt: K5D) has provided an update on exploration at its Madeira River Gold Project in Rondonia State, Brazil. The company reports that recent deeper drilling has intersected significant vertical intervals, up to 20 metres thick, of targeted mature coarse sediments, including gravels and sands. These findings support the interpretation of a large-scale paleochannel system associated with the Madeira River, extending across an area measuring approximately 7 kilometres by 5 kilometres eastward from the present-day river system.
To support and strengthen the technical team, the company has engaged Clara Maria Lamus Molina, an internationally recognized geologist-engineer and specialist in the evaluation and sampling of alluvial gold deposits. Ms. Molina brings over 20 years of specialized technical expertise in sampling, geological evaluation, and resource estimation of alluvial gold systems in compliance with NI 43-101 standards. She has wide experience associated with large-scale producing placer and alluvial operations in South America, including projects operated by Mineros S.A. in Colombia.
Ms. Molina will work with Canary’s technical team to review current drilling, sampling, and concentrate preparation methodologies; assist in designing representative sampling protocols for coarse gold and alluvial depositional environments; evaluate sedimentological and depositional controls on gold concentration; support refinement of QA/QC and chain-of-custody procedures; assist with geological modeling and future resource evaluation workflows; and support positioning the project for a potential future NI 43-101 compliant mineral resource estimate.
Mark Tommasi, President of Canary Gold, commented: “The engagement of a specialist alluvial gold consultant is a direct response to the technical progress we are seeing at Madeira. As our drilling continues to define what we interpret to be a large-scale paleochannel system, it is important that we build the sampling, QA/QC and geological evaluation framework correctly from the outset.”
To date, the company has completed approximately 21 reverse circulation drill holes on an approximate 1-kilometre spaced grid, together with a further 14 PQ-diameter drill holes on approximately 250 metre spaced infill sections within selected target areas. Deeper drilling has penetrated to vertical depths of up to 75 metres and intersected sedimentary units interpreted to form part of the paleochannel system. The paleochannel system includes mature sedimentary horizons up to 20 metres in thickness consisting of rounded quartz pebble gravels and sands hosted within a ferruginous matrix containing ilmenite and organic material, as well as harder indurated ferruginous horizons interpreted to represent possible remnant Mocururu.
The Madeira River Project covers approximately 80 kilometres of prospective tenure east of the Madeira River. Current exploration activities have tested only a limited portion of the broader land package. The company continues to advance drilling programs focused on defining the geometry and extent of interpreted paleochannel systems and identifying sedimentary environments considered favorable for potential gold concentration.
The company cautions investors that exploration at Madeira remains at an early stage. No mineral resource has yet been defined, and there can be no assurance that continued exploration will result in the delineation of an economic mineral deposit.
Analytical results from the current drilling program remain pending and will be reported once received, compiled and reviewed.
