Canary Gold Corp. (CSE: BRAZ; OTC: CNYGF; Frankfurt: K5D) has provided an exploration update for its Madeira River Project in Rondonia, Brazil, as the company continues a large-scale, systematic drilling program. To date, approximately 300 metres of drilling have been completed from a planned 20,000-metre program, with results consistent with the company's exploration thesis.
The current phase of drilling is designed to test the underlying geological model and collect data to refine and prioritize targets. The company acknowledges that exploration of this nature is high-risk, high-reward and requires patience. 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 at Zelia and Santo Antonio, adjacent to the company's licences. These workings demonstrate gold endowment in the same regional geological setting, supporting the prospectivity of the project area. However, the company notes that mineralization on adjacent properties is not necessarily indicative of mineralization on its project.
The company plans to use the data from this drilling campaign to refine targets and focus exploration on the most prospective parts of the tenement package. With a supportive gold market environment, Canary remains committed to disciplined execution of its exploration strategy. Shareholders are encouraged to refer to previous company news releases for additional context regarding the exploration model and regional setting.
The scientific and technical information in this release has been reviewed and approved by Andrew Lee Smith, P.Geo., Executive Director of Canary Gold Corp., who is a Qualified Person under NI 43-101. Data verification included assessment of sampling methods and analytical methods used by Overburden Drilling Management Ltd.
For further information, contact Canary Gold Corp. at (604) 318-1448 or visit www.canarygold.ca.
