Miata Metals Samples up to 194.2 g/t Gold at the Sela Creek Project in Suriname

VANCOUVER, British Columbia, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Miata Metals Corp. (CSE: MMET) (FSE: 8NQ) (“Miata” or the “Company”) is pleased to report the first exploration results of 2025 at the Sela Creek Gold Project in Suriname (“Sela Creek”). The Company further announces that the drill rig is now at Sela Creek, and is on track to commence its maiden diamond drill program this month with a goal of 10,000 m in 2025.

Highlights:

• A grab sample^* with free gold has yielded results of up to 194.2 g/t Au in a newly opened extension of the Puma target.
• Grab samples^* from the >2km long Golden Hand target include 14.53 g/t Au, 4.32 g/t Au, and 1.86 g/t Au
• Grab samples^* from the Stranger target include 34.66 g/t Au and 7.32 g/t Au
• All drill equipment of Major Drilling is now at Sela Creek and drilling is expected to commence this month

“The first results of 2025 from our ongoing ground exploration program are another milestone for the Company, as we begin operating from our year-round camp at Sela Creek,” stated Dr. Jaap Verbaas, CEO of Miata. “Our geologists on site have been doing great work further derisking the drill targets through a combination of geological mapping, structural measurements, and grab sampling^*. The artisanal mining^* allows our geologists to get a 3D look at mineralized zones. Because these zones occur in saprolite, we know that mineralization has remained in place (not transported by rivers). In other words, what the geologists are sampling in the saprolite pits can be inferred to continue directly below the pits in bedrock. These sampling results showcase once again the endowment and discovery potential at Sela Creek. The drill rig is now on site and we are looking forward to drill testing these targets.”

Sampling and Reconaissance Mapping at the Puma, Golden Hand, and Stranger Targets

Figure 1. Predictive vein model over Golden Hand, Stranger, and Puma showing key samples discussed in the text. Note that only certain well-mineralized samples are depicted in this image.

Figure 2. Aerial shot of the Stranger target (left) and hand sample from the Puma target (right).

Puma Target

The Puma target in the southeast part of Sela Creek is characterized by intense hydrothermal alteration and repeating vein sets in a host of both metasedimentary and metavolcanic rocks. The Puma target has never been drilled but has been actively mined in the past decade by artisanal miners^*. An in situ grab sample^*, collected from one of the cross-cutting tension veins at Puma returned 194.2 g/t Au (with repeat analysis of 184.7 g/t Au), only 30 meters from a subparallel tension vein that returned 39.2 g/t Au in 2024. Both grab samples^* are along a 500 meter-long northwest trend with historic channel samples^* that returned 3.12 g/t Au over 8 meters and 4.07 g/t Au over 5 meters and are considered part of a single trend. This sample was highlighted in the Company news release of February 5, 2025. Further sampling at the Puma target is currently being conducted in the lead up to drilling.

The host lithologies at Puma are dominantly quartz-biotite ± chlorite schist to quartz-biotite-sericite schist. Two mineralized vein sets occur at the Puma: 1) a foliation-parallel vein set, and 2) a foliation-oblique tension vein set (i.e., fault-filling veins). Both generations of veining contain sulphides in variable abundance of pyrite, pyrrhotite, arsenopyrite, and lesser chalcopyrite. The Puma zone is proximal to the regional scale Central Guyana Shear Zone, with ENE to WSW-trending magnetic lows that transect the Puma zone and branch from the regional trend. The tension fault filling vein sets trend NNW-SSE and contain multi-metre scale veins with crack-seal textures and strong alteration and sulphide mineralization.

Golden Hand Target

The Golden Hand zone contains multiple targets with over >2 km strike length that have been heavily mined in the past and consist of several different pits, including Jon’s pit, the focus of historical drilling. The 2025 reconnaissance sampling program, to date, has yielded in situ grab samples^* of up to 14.53 g/t Au. Historical channel samples^* from the Golden Hand target have yielded 2.74 g/t Au over 5 m and 3.14 g/t Au over 4 m. Similar to the Puma target, the Golden hard target contains both foliation parallel veins and foliation-oblique fault-fill veins, identified during Miata’s mapping program. Historical drilling in the Jons pit area is thought to have intersected foliation parallel vein-sets.  

Host lithologies in the Golden Hand zone are dominantly strongly foliated quartz-muscovite (±garnet) schist with abundant foliation-parallel quartz-carbonate vein arrays. This zone exhibits strong to intense chlorite and magnetite alteration with tourmaline associated with mineralized veins. Locally, the Golden Hand target exhibits strong folding and crenulation cleavage within a mylonitized shear-zone, indicating a strong structural control and superimposed deformation events.

Figure 3. At the Golden Hand target, artisanal miners^* have followed fold hinges. A fold hinge control on gold mineralization was inferred from historical data compilation, remote sensing and LiDAR analysis by Miata’s technical team and is becoming increasingly clear through geological mapping. The fold axis above shows concentrated veining and alteration, most apparent in the centre bottom of the image, that appears to have been the focus of artisanal mining^* efforts in this pit.

Stranger Target

The first results from Miata’s 2025 sampling at the Stranger Pit include in situ grab samples^* from newly discovered gold-bearing fault-fill veins grading from 34.66 g/t Au to 7.32 g/t Au. The Stranger target has never been drilled and was initially identified during the Company’s 2024 asset evaluation program. This target is high-priority for the upcoming drill program.

The host rock in this zone comprises strongly foliated biotite-muscovite-schist with vein arrays parallel to foliation and vein sets that occur at an angle of ~60º to the primary foliation. Locally, there are granodioritic rocks in this zone that occur with chloritized biotite and kaolinized feldspar.

Deformation in the Stranger zone of prospects includes a strong NW-SE foliation (D1). Foliation in the zone locally displays tight isoclinal folding with axial planes parallel to dominant fabric. Faults and shear zones occur oblique to the D1 foliation at a NNW-SSE strike (D2) with a steep dip. These faults typically contain well-mineralized fault-fill veins.

A total of 52 samples between the three different targets were sent to the FiLab in Paramaribo, yielding a high of 194.2 g/t Au, an average of 5.3 g/t Au and a median of 0.056 g/t Au^*. Investors are cautioned that grab samples are inherently selective.

Operations Update

All drill gear from Major Drilling is now on site and drilling is expected to commence this month. The Company is mobilizing additional pieces of equipment to allow for continuous early stage exploration work alongside the drill program to keep adding to the pipeline of drill-ready targets. Permanent camp construction continues, with the most recent addition being the core logging and cutting facility.

QA/QC

Samples were analyzed at the FiLab in Paramaribo, an ISO certified laboratory that inserts blanks and standards at regular intervals. All QA/QC samples yielded acceptable values.

Qualified Person

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.

^*The Company does not generate revenues or royalties from surface mining activities.

^*Investors are cautioned that grab samples are inherently selective and serve to prove the presence of mineralization only.

^*All channel samples, as well as grab samples depicted in grey in the sampling map, noted in this news release are historical in nature and were not verified by the Company.

About Miata Metals Corp.

Miata Metals Corp. (CSE: MMET) is a Canadian mineral exploration company listed on the Canadian Securities Exchange. 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 and a 70% earned interest in the Nassau Gold Project in Suriname. Miata also holds an additional an option to acquire a full 100% interest in the Sela Creek Gold Project, and an option to earn 100% interest in the Cabin Lake Property in the Omineca Mining Division, British Columbia. The Company continuously evaluates opportunities to acquire interest in additional prospective exploration stage mineral properties.

On Behalf of the Board

Dr. Jacob (Jaap) Verbaas, P.Geo | CEO and Director

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.

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