Canary Gold Corp. has provided an update on exploration activities at its Madeira River Project in Rondonia, Brazil, reporting that approximately 300 metres of drilling have been completed from a planned 20,000-metre programme. The company emphasizes that this early-stage work is focused on testing geological models and building datasets, not on confirming economic mineralization at this time.
President Mark Tommasi stated that the current phase aims to test the company's geological model and collect data to guide future exploration. While only a small fraction of drilling is complete, initial results are consistent with the exploration thesis previously disclosed, providing confidence in the targeting approach. The project is located within a gold-bearing district that hosts historic and active artisanal workings at sites like Zelia and Santo Antonio, immediately adjacent to Canary's licences, though mineralization on nearby properties does not guarantee similar results on the company's project.
The Madeira River Project exploration targets gold mineralization concealed beneath transported cover, requiring a methodical, data-driven approach that the company describes as high-risk but high-reward. The primary objective of the current campaign is to generate a robust geological dataset to refine targets and vector toward potential mineralization areas. Canary expects the 2026 drilling programme, informed by current results, will be critical in focusing exploration on the most prospective parts of the tenement package.
Scientific and technical information in the update was reviewed and approved by Qualified Person Andrew Lee Smith, P.Geo., Executive Director of Canary Gold Corp., who verified available geological logs, field notes, sampling documentation, and analytical certificates. The company used independent Canadian laboratory Overburden Drilling Management Ltd. for heavy-mineral evaluation, with verification including assessment of sampling methods and chain-of-custody protocols. Additional information about the company's exploration activities can be found at https://www.canarygold.ca.
This exploration update matters because systematic drilling in underexplored regions like Brazil's Madeira River area could identify new gold resources, potentially impacting global gold supply and regional economic development. For investors and the mining industry, early-stage results that support geological models indicate whether exploration capital is being deployed effectively, though significant additional work is required before any economic assessment can be made. The project's location in a historically productive gold district adds geological context but doesn't guarantee success, highlighting the inherent uncertainties of mineral exploration.
