VANCOUVER, British Columbia, May 28, 2025 (GLOBE NEWSWIRE) -- Miata Metals Corp. (CSE: MMET) (FSE: 8NQ) (OTCQB:MMETF) ("Miata" or the "Company") is pleased to announce the results for the first nine holes that have been drilled on its planned 10,000m core drilling program at the Sela Creek Gold Project in Suriname ("Sela Creek"). The total project area covers 215 km2.
The Phase 1 inaugural drill program targeted the Golden Hand zone and resulted in an orogenic gold discovery, consisting of multiple veins with near-surface gold. These early drill results account for 15% of the planned drill program with approximately 8,500m remaining to be drilled. Golden Hand represents only 2 km of strike within a broader 8 km corridor of active and historic artisanal mining. It is the first of seven high-priority targets identified to-date within the concession. As drilling progresses, Golden Hand will be assessed both as an open pit and underground mineralized system. Less than 10% of the artisanal mining area of Sela Creek has been drill-tested at depth, leaving ample room for further discovery.
Given that Golden Hand has never been drilled, Miata's technical team is gaining valuable insights into the bedrock mineralogy, significantly improving their understanding of the structural controls. This knowledge will also be applied across the remaining six targets to enhance the precision and effectiveness of the ongoing 10,000m drill program.
Highlights:
- Several diamond drill holes have yielded more than one gold intercept, in particular 25DDH-SEL-008 that yielded three individual gold mineralized intercepts, all within 100m from surface.
- Assay results from the Golden Hand target confirm a widespread gold system in bedrock and include multiple intercepts above 1 g/t Au within a single drill hole:
- 25DDH-SEL-004: 7.5m of 1.05 g/t Au from 13.5m
- including: 3m of 1.93 g/t Au
- 25DDH-SEL-006: 5.42m of 0.73 g/t Au from 88.58m
- 25DDH-SEL-006: 3.85m of 2.71 g/t Au from 101.15m
- 25DDH-SEL-008: 1.5m of 5.46 g/t Au from 19.3m
- including: 0.5m of 11.71 g/t Au
- 25DDH-SEL-008: 1.6m of 1.93 g/t Au from 45.36m
- 25DDH-SEL-008: 5.75m of 1.2 g/t Au from 61m
- 25DDH-SEL-009: 2m of 4.72 g/t Au from 19.3m
- 25DDH-SEL-009: 6.2m of 0.52 g/t Au from 44.5m
- 25DDH-SEL-004: 7.5m of 1.05 g/t Au from 13.5m
- Reported assays account for the first 1,447m of drilling with assays for a further 5 drillholes (861m) pending.
- The Company is currently drill-testing a secondary structure in the eastern extent of the Golden Hand target
- To see a video providing context to these results by director Danae Voormeij and CEO Jacob Verbaas, click here
"We are pleased to announce assays for our first nine drill holes, accounting for the first 1,447m of our 10,000m drill program," stated Dr. Jacob Verbaas, CEO of Miata. "Our results include several shallow intercepts of gold-bearing structures in bedrock such as 7.5m at 1.05 g/t Au from 13.5m and 2m at 4.72 g/t Au from 19.3m. This area now represents a compelling open-pit target. We continue to use this valuable data to vector towards the core of the Golden Hand target, where four holes have already been drilled with assays pending. We look forward to results of the continued drilling and expanding the drill targeting to the six other high-priority targets on Sela Creek."
Figure 1. Section showing Golden Hand drill collars with assays as well as holes 25DDH-SEL-009 to 013, for which assays are pending. These holes were drilled at the potential intersection of the Golden Hand fold and Jon's Trend veins.
Results
The results of these first 9 holes indicate that the predictive vein model accurately identified locally significant vein arrays, as indicated by the 2.71 g/t Au over 3.85m in hole 6 and the 5.46 g/t Au over 1.5m in hole 8. Several holes have yielded more than one gold intercept, in particular hole 8 that yielded three individual gold mineralized intercepts, all within 100m from surface. Lower grade gold mineralization exist between some of the higher grade numbers.
For a table showing complete drill results for the current release, click here.
Figure 2. Section of Golden Hand drilling to date.
Figure 3. Section of Stranger Drilling to Date.
Quality Assurance and Quality Control
Samples were sent to a certified laboratory in Paramaribo for analysis. Samples of hole 1 - 4 were analysed by fire assay in 30g aliquots. The remainder of the samples were analysed by fire assay of 50g aliquots. Any samples yielding over 10 g/t Au were also analysed through gravimetry and select samples with visible (coarse) gold were analysed using metallic screen. The Company and the lab insert standards, duplicates and blanks at regular intervals. All QAQC samples fall within acceptable values.
QP Statement
The scientific and technical information in this news release has been reviewed and approved by Dr. Jacob Verbaas, P.Geo., a director of the Company and Qualified Person as defined under the definitions of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
*Miata Metals does not generate revenues from small-scale mining activities.
About Miata Metals Corp.
Miata Metals Corp. (CSE: MMET) is a Canadian mineral exploration company listed on the Canadian Securities Exchange, as well as the OTCQB (OTCQB:MMETF) and Frankfurt (FSE:8NQ) Exchanges. The Company is focused on the acquisition, exploration, and development of mineral properties. The Company holds a 70% interest in the ~215km2 Sela Creek Gold Project in Suriname with an option to acquire a full 100% interest in the project, and a 70% beneficial interest in the Nassau Gold Project in Suriname. Both assets are located in the greenstone belt of Suriname.
On Behalf of the Board
Dr. Jacob (Jaap) Verbaas, P.Geo | CEO and Director
info@miatametals.com
+1 778 488 9754
Forward-Looking Statements
This press release contains certain forward-looking statements as well as historical information. Readers should not rely on information in this summary for any purpose other than for gaining general knowledge of the Company. Forward-looking statements include, but are not limited to the scope and timing of the Company's drilling programs. The words "expected", "will" and similar expressions are intended to be among the statements that identify forward looking statements. Although the Company believes that its expectations as reflected in any forward-looking statements, are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward- looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates, opinions or other factors should change.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/67f76170-f06a-4cfe-9d13-5365c37d674b
https://www.globenewswire.com/NewsRoom/AttachmentNg/18e6038b-e254-4479-8178-e94e4afab1dc
https://www.globenewswire.com/NewsRoom/AttachmentNg/1bd67c9a-0181-4144-a324-973b41752c51
