Canary Gold Corp. (CSE: BRAZ; OTC: CNYGF; Frankfurt: K5D) has provided an exploration update on its Madeira River Project in Rondonia, Brazil, detailing the early-stage results of a planned 20,000-metre drilling programme. To date, approximately 300 metres of drilling have been completed, with the company emphasizing that it remains too early to determine whether economic mineralisation will be intersected.
The drilling programme is designed to test the underlying geological model and gather data to refine and prioritize targets. According to the company, results obtained so far are consistent with the exploration thesis previously disclosed, supporting the geological framework of the project. 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.”
The Madeira River Project is located within a broader gold-bearing district that includes historic and active artisanal workings, such as those at Zelia and Santo Antonio, located adjacent to the company’s licences. These workings demonstrate gold endowment in the same regional geological setting, although mineralisation on adjacent properties is not necessarily indicative of mineralisation on the company's project.
Canary expects that the 2026 drilling programme, informed by current results, will be critical in focusing exploration on the most prospective areas. The company acknowledges that exploration of this nature requires patience and remains committed to disciplined execution. Shareholders are encouraged to review previous news releases for additional context on the exploration model and regional setting.
Additional figures showing planned drilling layouts and radiometric data are available on the company’s website. The scientific and technical information in this release has been reviewed by Andrew Lee Smith, P.Geo., Executive Director and Qualified Person under NI 43-101. Data verification included assessment of sampling methods and analytical procedures used by Overburden Drilling Management Ltd., an independent Canadian laboratory.
Canary Gold Corp. is a Canadian exploration company focused on gold projects in Brazil. It holds an option to earn up to a 70% interest in the Rio Madeira Project and has expanded its land position to approximately 94,700 hectares through an acquisition from Talisman Venture Partners Ltd. Talisman retains a 1.0% net smelter return royalty, half of which can be repurchased for CAD $1.0 million.
