Miata Targets Golden Hand’s Centre After Drilling Broad Mineralized Zones at Sela Creek Gold Project in Suriname

Rhea-AI Summary

Miata Metals has announced assay results from drill holes 10-12 at its Sela Creek Gold Project's Golden Hand target in Suriname. The drilling, part of a 10,000m program, revealed significant mineralized zones including intercepts of 13.1m at 0.46 g/t Au, 24.2m at 0.24 g/t Au, and 50.1m at 0.30 g/t Au. The Golden Hand target represents 2km of strike length within an 8km corridor of artisanal mining activity. The project covers 215km2, with Golden Hand being the first of seven high-priority targets. Currently, less than 10% of the artisanal mining area has been drill-tested at depth. The company is currently drilling hole 25DDH-SEL-017, targeting what they believe to be the center of the Golden Hand system. The technical team has gained valuable insights into structural controls, which will be applied to remaining targets to enhance drilling effectiveness.

Positive

• Multiple near-surface gold-bearing veins discovered in majority of holes
• Wide mineralized intercepts suggest potential for substantial open-pit target
• Large unexplored potential with only 10% of artisanal mining area drill-tested
• Project covers extensive 215km2 area with seven high-priority targets identified

Negative

• Relatively low-grade gold intercepts (mostly below 0.5 g/t Au)
• Only 20% of planned 10,000m drill program completed to date
• Early-stage exploration with no resource estimates yet

VANCOUVER, British Columbia, June 19, 2025 (GLOBE NEWSWIRE) -- Miata Metals Corp. (CSE: MMET) (FSE: 8NQ) (OTCQB: MMETF) (“Miata” or the “Company”) is pleased to announce assay results from drill holes 10 to 12, as it continues to vector towards the centre of the Golden Hand target. These three holes represent 564.2m of the ongoing 10,000m drill program. To date, assays for 2,011m of drilling have been released, with approximately 80% of the total planned program still to come. The project covers a total area of 215km².   

Golden Hand represents just 2km of strike length within a broader 8km 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 is being 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 considerable room for further discovery. The majority of holes drilled by Miata have intersected multiple near-surface gold-bearing veins.

As this marks the first-ever drilling campaign at Golden Hand, Miata’s technical team is gaining valuable insights into the bedrock mineralogy, significantly enhancing its understanding of the project’s structural controls. This knowledge will also be applied across the remaining targets to increase the precision and effectiveness of the ongoing 10,000m drill program.

Highlights

• Results of the three holes reported today indicate potentially significant zones of interest near what the Company believes to be the centre of the Golden Hand target.
• Wide intercepts indicate a potentially substantial mineralized zone at Golden Hand, including:
  • 25DDH-SEL-010: 13.1m at 0.46 g/t Au from 38.0m
  • 25DDH-SEL-010: 24.2m at 0.24 g/t Au from 55.0m
    • Including 2m at 1.32 g/t Au from 58.7m
  • 25DDH-SEL-010: 25.5m at 0.36 g/t Au from 180.5m
    • Including 2m at 2.35 g/t Au from 204m
  • 25DDH-SEL-011: 50.1m at 0.30 g/t Au from 52.9m^*        
    • Including 2.1m at 1.49 g/t Au from 52.9m
• Assays for a further five drill holes at Golden Hand are pending.
• Hole 25DDH-SEL-017, which targets the interpreted centre of Golden Hand, is currently being drilled.
• Golden Hand is the most active artisanal mining area of the Sela Creek concession.
• Drilling at Golden Hand has yielded a refined structural model, which is now being applied across the broader concession.
  

“These wider intercepts are very encouraging since they delineate a significant zone of interest with shallow-dipping vein arrays and greatly expand our understanding of this system. Shallow-dipping zones of mineralization often identify compelling open-pit targets,” stated Dr. Jacob Verbaas, CEO of Miata Metals. “We believe we are now drilling the centre of the Golden Hand system with 25DDH-SEL-017. By drill testing Golden Hand, we have identified the structural controls for the widespread gold mineralization at Sela Creek, which has also prepared us well for drilling other high-priority targets such as Puma.”

Figure 1. Golden Hand drilling outlining a large open fold that is superimposed on the folds hosting gold at the Jons trend. The interference of these two folds is a likely structural trap for secondary gold enrichment and is tested with drill hole 25DDH-SEL-017.

Golden Hand
                
Results of the three holes reported today indicate potentially significant zones of interest near what the Company believes to be the centre of the Golden Hand target. Exploration drilling at Golden Hand has yielded a refined structural model that is now being applied across the broader concession. Results are currently pending for a further five drill holes at Golden Hand.

Hole 25DDH-SEL-15 and 16 were drilled underneath an active pit and targeted both a mineralized shear and F2 folding in the eastern portion of Golden Hand. Hole 25DDH-SEL-17 was collared closer to the centre of the mineralized structural zone where shallowly dipping veins were intersected in holes 25DDH-SEL-10 to 12. This same zone was also intersected in hole 25DDH-SEL-14 and yielded sulphide bearing veining at 256m (Fig 1). Hole 25DDH-SEL-15 and 16 were targeted in an active pit on the eastern side of Golden Hand testing a similar structural zone.

For a table showing complete drill results to date, click here.

Figure 2. Drill collars to date in red and target areas in white, overlain on orthophotos flown in 2024 on the 215km² Sela Creek gold project.

QAQC

Samples were sent to a Filab, a certified laboratory in Paramaribo for analysis. Samples were analysed by fire assay in 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.

True width of drill intercepts is within 90% of disclosed width unless otherwise stated.

*True width 33m.

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.

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 with an option to acquire 100%. 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”, “believes”, “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/dc50c1aa-9297-4ec6-8125-c77afcc3780e

https://www.globenewswire.com/NewsRoom/AttachmentNg/3c602964-fb8c-4b09-a598-49a6b7b5671a

FAQ

What are the latest drill results from Miata Metals (MMETF) at Sela Creek?

The latest results include intercepts of 13.1m at 0.46 g/t Au, 24.2m at 0.24 g/t Au, and 50.1m at 0.30 g/t Au from drill holes 10-12 at the Golden Hand target.

How much of the Sela Creek Gold Project has been explored by Miata Metals?

Less than 10% of the artisanal mining area has been drill-tested at depth, with Golden Hand representing just 2km of strike length within an 8km corridor.

What is the total size of Miata Metals' Sela Creek Gold Project?

The Sela Creek Gold Project covers a total area of 215 square kilometers in Suriname.

How many priority targets has Miata Metals identified at Sela Creek?

Miata Metals has identified seven high-priority targets within the concession, with Golden Hand being the first target under exploration.

What is the status of Miata Metals' current drilling program at Sela Creek?

The company has completed about 20% of its planned 10,000m drill program, with assays for 2,011m of drilling released so far.