Canary Gold Corp. announced that its field team has identified new outcrops of "Mocururu," an iron-cemented gravel historically associated with gold mineralization, at its Madeira River Project in Rondônia, Brazil. Preliminary panning of samples from these occurrences revealed visible gold particles in concentrates, though the company emphasized this is a qualitative observation that does not confirm economic significance.
The newly discovered outcrops are located within what the company's geological team interprets as the most favorable geological zone observed to date adjacent to the Madeira River's right bank. These findings support Canary Gold's hypothesis that gold-prospective sediments from Andean erosion have accumulated in the Madeira River basin over time. The company is preparing duplicate and replicate samples for analysis at SGS Laboratory in Brazil and for physical examination at Overburden Drilling Management Ltd., a Canadian laboratory specializing in heavy-mineral concentrate assessments.
These discoveries will be evaluated during a major drilling program scheduled to begin in early 2026 across the company's extensive tenement holdings. The company referenced its December 2, 2025 press release regarding these planned activities. Mark Tommasi, President of Canary Gold, stated that the discoveries fit directly into the company's broader exploration strategy and provide further justification for the significant drill campaign planned for early 2026.
The scientific and technical information was reviewed and approved by Andrew Lee Smith, P.Geo., Executive Director of Canary Gold Corp., who is a Qualified Person under National Instrument 43-101. The company emphasized that the information relates to early-stage exploration results and that heavy-mineral analyses and field observations do not provide quantitative gold grades or allow for mineral resource estimation. Visible gold observations are qualitative only and do not confirm grade, continuity, or economic mineralization.
Canary Gold holds an option to earn up to a 70% undivided interest in the Rio Madeira Project through staged exploration expenditures and milestone payments. In August 2025, the company entered into a definitive agreement to acquire a 100% interest in ten additional mineral tenements totaling approximately 94,700 hectares from Talisman Venture Partners Ltd. for CAD $1.7 million, payable through staged cash and share payments.
