VANCOUVER, British Columbia, Sept. 24, 2024 (GLOBE NEWSWIRE) — Miata Metals Corp. (CSE: MMET) (FSE: 8NQ) (“Miata” or the “Company”) is pleased to announce a corporate and exploration update on the Sela Creek Gold Project, located in Sipaliwini District, Suriname, South America.

Highlights

• The Company is working with contractors to establish the logistical plan to start drilling at Sela Creek in the coming months
• A LiDAR survey is expected to be completed over Sela Creek by the end of September
• The Company is currently refining a geological model for both the Sela Creek Gold Project and Nassau Project incorporating all historical and recent data
• The geological model will form the basis of 2,000m of trenching, which is expected to commence shortly

“Miata Metals is well on the way to begin drilling Sela Creek,” stated Dr. Jacob Verbaas, CEO of Miata. “With the data collected in July providing valuable context to the historical data, we are working on a renewed interpretation of mineralization on the Project. We are looking forward to using this data for a comprehensive trenching and drilling campaign. To that end, contractors are currently on site to assess the best logistical route to use. We are grateful to have strong local Surinamese partnerships that have enabled us to quickly and efficiently advance multiple work streams to put us in a position to drill Sela Creek by the end of the year.”

Figure 1. Historical magnetic survey that was flown at 100m spacing. This magnetic survey is one of the cornerstone databases that allows for a comprehensive interpretation of the geology and structure on Sela Creek. The LiDAR survey will feed into this data and the interpretation and allow for detailed drill and trench targeting.

Drilling Logistics
Company contractors are currently on Sela Creek to determine the best path of access to mobilize drill equipment. Miata is assessing the ideal type of drill equipment for its initial drill targets, which are either exposed or mined at surface and may be drilled to a depth of 250m initially. There are several options for mobilizing equipment, such as roads and trails, or using the Tapanahony river.

LiDAR
A LiDAR survey is scheduled to be flown over the entire Sela Creek Project before the end of September. LiDAR data will allow the Company to use very high-resolution topographical data to identify structures and potentially areas of mineralization. It will also be of use for planning access roads and other infrastructure that will be required to scale up the exploration activities on Sela Creek.

Geological model
The Company is working on a geological model incorporating all past trenching, sampling, and drilling data, to highlight potential gold bearing veins, as well as trenching and drill targets. Using a combination of the historical database, as well as current and historical satellite imagery and the recent sampling, relative confidence levels are attributed to interpreted gold bearing veins, that are expected to guide Miata towards the high-confidence targets. The Company expects this work to be completed within the next two weeks after which it will plan a trenching and drilling program.

An initial 2,000m of trenching targets will be planned on both the Sela Creek and Nassau gold projects. Trenching at Sela Creek is planned to start as soon as possible once the targets are identified. The Company expects to start drilling shortly thereafter. Using Filab Suriname N.V. the turnaround time for fire assay results on samples is less than two weeks. This allows the Company to use the results rapidly for follow-up programs.

Figure 2. Example of historical drill core. This drill core yielded 1.22 g/t over 42.0m from 102 m (SKD001), with an estimated true width of 21.2m. All historical drill data are taken into account during the current data compilation. This interval, in particular box 38 (top core box) contains highly deformed schist with ample quartz veining.

QAQC and Data Verification
Drill data was verified by the Company through the resampling of certain core sections. Samples were analyzed by Filab Suriname NV. The lab inserts standards and blanks at regular intervals. Re-assayed data as well as standards and blanks yielded acceptable values. All other data is deemed historical and was not verified by the Company.

Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Dr. Dennis LaPoint, P.Geo., who is a 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. The Company is focused on the acquisition, exploration, and development of mineral properties. Currently, the Company holds earn-in options to acquire 100% interest in the Sela Creek Gold Project in Suriname and 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
[email protected]
+1 778 488 9754

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

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 closing of the acquisition of 79North and its interest in Sela Creek and Nassau and the anticipated exploration activities of the Company and the timing thereof. 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.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/12f15d6a-79e6-4b33-846e-fda33f91e9bc
https://www.globenewswire.com/NewsRoom/AttachmentNg/13acd946-cceb-4baf-941c-7c6f40aeae16

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