Canary Gold Exploration Update
Canary Gold Corp. Exploration Update
Vancouver, British Columbia, Date 30th January 2025 – Canary Gold Corp. (CSE: BRAZ,
Frankfurt: K5D) (the “Company” or “ Canary Gold”) Canary Gold Corp . is pleased to provide a n
exploration update following the recent commencement of field activities over its Flagship
Madeira River Gold Project, Rondônia, Brazil.
The Madeira River Project encompasses some 68,445 hectares of contiguous exploration ground,
selected and consolidated by the Company based on its prospectivity for the discovery of gold
mineralization, associated with preserved paleochannels, located, immediately to the east of the
active Madeira River and south of the city of Porto Velho in the Bra zilian state of Rondônia (see
Figure 1 below).
Figure 1 - Map showing the Canary Gold´s Madeira River Project Area Tenement Position
The targeted gold mineralization of the Madeira River region is hosted in paleochannel deposits,
generally composed of gravel and coarse-grained sand. The gold-bearing horizons are of fluvial
origin, deposited on bars within active channels incised into and forming depressions within
crystalline basement.
In addition to gravel, gold is also found in quartz-pebble conglomerates and in a widespread flat
to shallow-dipping, iron-rich (limonite – siderite) duricrust, locally known as “Mocururu”.
Figure 2 - “Mocururu” a gold bearing, iron rich (limonite – siderite - manganese) rich lateritic
duricrust which likely formed in response of the onset of a dry climate period with subaerial
exposure (Mörner et al., 2001). This prospective, gold bearing horizon is a primary exploration
target for Canary . Source; Morner et al 2001 in PDAC 2007 Presentation Amazon Mining Rio Madeira
Project, ´´Finding paleochannels and gold in the Amazon area´´, Dr Joao Batista G. Teixeira, Dr Alvaro P
Crosta, and Mr Cleyton C. Carneiro, Geosciences Institute, University of Campinas, Sao Paulo, Brasil.
Figure 3. An exposure along the banks of the active Madeira River showing the relative location
of the gold bearing “Mocururu” overlain by younger cover comprising a blanket of kaolinite rich
clay associated with gravel deposits related to the present-day river channels. Canary is exploring
this sequence away from the current active Madeira River where preliminary tomography
geophysical profiles (see figure 4 below) has demonstrated the eastwards extension of these gold
bearing horizons within its extensive tenement package . Source; Morner et al 2001 in PDAC 2007
Presentation Amazon Mining Rio Madeira Project, ´´Finding paleochannels and gold in the Amazon area´´,
Dr Joao Batista G. Teixeira, Dr Alvaro P Crosta, and Mr Cleyton C. Carneiro, Geosciences Institute,
University of Campinas, Sao Paulo, Brasil.
Canary´s current exploration focus is aimed at refining targets for initial drill testing where
Canary´s recent geophysical (tomography) surveys have identified both ´´ Paleochannel´´ and
``Mocururu`` targets within the shallow gold bearing sedimentary sequences , as described
above. Figure 4 below shows the results from two preliminary , reconnaissance tomography
profiles completed by Canary in 2023 across their tenements. These profiles were completed to
complement earlier ground penetrating radar profiles collected nearby. Both surveys produced
results which are consistent with the expected response characteristics from both the
´´Paleochannel´´ and ``Mocururu`` target types.
Figure 4. Figure showing preliminary tomography profiles across Canary’s Exploration Areas
showing two distinct target types, Profile 1 interpretation showing the widespread extent of the
“Mocururu Target” layer across the area while Profile 2 interpretation shows an extensive
Paleochannel Target across this particular area.
Mark Tommasi, President of Canary Gold, stated, "The Canary Gold technical team is excited to
begin exploration at the Madeira River Gold Project. Located in a highly prospective geological
region, we believe the ancient mineralization within the lithified Mocururu conglomerate,
extensively exposed in the Madeira River floodplain, presents exciting potential for new gold
discoveries. By integrating modern exploration techniques with the expertise and local
knowledge of our technical team, Canary Gold is wel l-positioned to capitalize on these
opportunities and create lasting value for our shareholders." Update on Q1 2025 work program
in Brazil
As stated above, Canary Gold has mobilized its in -country exploration team to Rondônia to
establish local exploration support infrastructure and advance work aimed at defining initial drill
targets within a 3-to-4-month timeframe. High resolution drone magnetic surveys will firstly be
flown over, and to better define, the geometrical characteristics and orientation of the known
paleochannel targets already delineated by tomography and ground penetration radar. These
initial targets are already considered to be large scale sedimentary features attaining potential
channel widths of some 500m to 1000m and a downstream (paleo direction) distance of more
than 2-3km.
Once drilling targets have been defined, Sonic Drilling will be completed to importantly capture
complete samples across the full targeted sedimentary profile which is expected to comprise
potentially mineralized, unconsolidated, semi-consolidated and consolidated formations. The full
sample interval will be logged geologically prior to submission to the laboratory for full analysis
including complete heavy mineral analysis. This work will allow the companies geologists to
identify specific sedimentological controls on gold and related heavy mineral content and
potentially point to higher grade areas for follow up drill evaluation.
QP Disclaimer
Andrew Lee Smith, P.Geo ., a Qualified Person as defined by National Instrument 43 -101 –
Standards of Disclosure for Mineral Projects , has reviewed and approved the technical
information related to the Madeira River Project in Rondônia, Brazil, disclosed herein. The
information presented is based on Mr. Smith’s professional judgment and understanding of the
project at the time of review . However, readers are cautioned that the conclusions and
interpretations are subject to the inherent uncertainties and limitations associated with
exploration activities.
The production estimates provided herein are considered historic al in nature and are not
supported by the detailed data or documentation required under current standards as set forth
in NI 43-101. These estimates have been obtained from sources believed to be reliable; however,
they have not been independently verified by a Qualified Person as defined under NI 43-101.
About Canary Gold Corp.
Canary Gold Corp. is a mineral exploration company whose principal business is the acquisition
and exploration of gold mineral exploration properties, with a focus in Rondônia, Brazil. The
Company has the option to acquire up to a 70% undivided right, title and interest in the Rio
Madeira Project, a property that covers an area of 68,445 hectares of prospective geology in
Rondônia, Brazil.
More information about Canary can be found at www.canarygold.ca.
For further information, please contact:
Canary Gold Corp.
Mark Tommasi, President
Phone: 604-318-1448
www.canarygold.ca
Disclaimer Regarding Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws that are not
historical facts. Forward -looking statements are often identified by terms such as “will”, “may”, “should”,
“anticipates”, “expects”, “believes”, and similar expressions or the negative of these words or other comparable
terminology. All statements, other than statements of historical fact, included in this release, including, without
limitation, statements regarding the Company’s planned exploration programs and drill programs and potential
significance of results, are forward-looking statements that involve risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause actual results to differ materially from the
Company’s expectations include but are not limited to the risks detailed in the Company’s Prospectus and in the
continuous disclosure filings made by the Company with securities regulations from time to time. The reader is
cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect.
Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous
known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company.
The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although
considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may
differ materially from thos e anticipated. Forward-looking statements contained in this news release are expressly
qualified by this cautionary statement. The forward-looking statements contained in this news release are made as
of the date of this news release and the Company will update or revise publicly any of the included forward-looking
statements only as expressly required by applicable law.
No securities exchange or commission has reviewed or accepts responsibility for the adequacy or accuracy of this
release.