Miata Makes Significant New Discovery at Puma with 17.19 m at 3.14 g/t Au, and 21.64 m at 1.70 g/t Au
Miata’s new Puma East discovery opens a second mineralized corridor, confirming district-scale potential at its Sela Creek project.
Miata Metals Corp. (MMET) has released assay results for the first four drill holes completed in 2026 at the Puma East target, located approximately 3 km southeast of the main Jons Trend–Big Berg corridor. The company noted that two rigs are currently active and further assays are pending from the Jons Trend–Big Berg area.
The drilling results included the following intercepts:
- Hole PME-002: 17.19 m at 3.14 g/t Au from 67.31 m (true width 14.9 m), including 7.09 m at 5.64 g/t and 0.90 m at 22.80 g/t.
- Hole PME-004: 21.64 m at 1.70 g/t Au from 89.86 m (true width 18.7 m), including 7.50 m at 2.04 g/t and 6.30 m at 2.81 g/t.
- Hole PME-003: 4.56 m at 3.39 g/t Au from 43.78 m (true width 3.9 m), including 1.49 m at 6.19 g/t.
- Hole PME-001: 1.15 m at 0.60 g/t Au (true width 1.1 m).
Geological observations indicate silica-biotite-chlorite alteration with quartz-pyrite-pyrrhotite shear veining, a style that matches the known Jons Trend mineralization.
Miata Metals Corp. (MMET) has materially broadened the geological story at its Sela Creek project, establishing a second mineralized center known as Puma East. Located 3 km from the previously focused Jons Trend–Big Berg corridor, this new discovery represents the first successful step-out in the area, exhibiting a broadly similar style and grade to the existing trend.
The company released assay data from these new holes for the first time, providing results that were previously unavailable to the market. The stock had declined from $0.56 to $0.39 prior to this announcement, reflecting investor pessimism. This release serves as a positive catalyst for the early-stage explorer, which currently holds no resource or reserve. The discovery significantly de-risks the district and expands exploration upside, justifying continued systematic drilling.
Miata Metals Corp. (TSX-V: MMET) is a Canadian junior explorer whose flagship asset is the 215 km² Sela Creek Gold Project in Suriname’s Guyana Shield, a greenstone-hosted orogenic gold district. The company holds a 70% interest in Sela Creek, with an option to earn 100%. Drilling began in mid-2025 and has focused on the Jons Trend, Big Berg, and now Puma East targets.
The 2026 program calls for 25,000 m fully funded, with two rigs. To date, approximately 12,000 m has been completed. The company has also optioned the Nassau project, but work is stalled pending concession renewal. Working capital was $8.5M as of March 31, 2026, with no debt, which is sufficient for the planned program through the end of 2026. Additional financing may be needed thereafter, and a going-concern note exists.