Northwire Canada EditionThursday, August 6, 2026
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ARTG 37.67 +7.3% SAGE 0.120 +4.3% NTR 93.88 −0.3% ERO 42.71 +4.6% EDR 12.55 +7.1% IFOS 2.23 −0.5% URE 1.80 −2.2% AAUC 27.50 +4.3% IMR 0.145 +3.6% EQX 14.50 +7.4% OGC 37.67 +6.8% TFPM 43.89 +4.4% SGD 15.42 +5.4% BKM 2.55 +3.2% OR 45.20 +4.4% CDE 24.46 +7.2% ARTG 37.67 +7.3% SAGE 0.120 +4.3% NTR 93.88 −0.3% ERO 42.71 +4.6% EDR 12.55 +7.1% IFOS 2.23 −0.5% URE 1.80 −2.2% AAUC 27.50 +4.3% IMR 0.145 +3.6% EQX 14.50 +7.4% OGC 37.67 +6.8% TFPM 43.89 +4.4% SGD 15.42 +5.4% BKM 2.55 +3.2% OR 45.20 +4.4% CDE 24.46 +7.2%
Drill Results

Miata Adds Additional Drill Rig and Increases Discovery Potential with Fully Funded 25,000 m Drill Program at the Sela Creek Gold Project

By The Northwire Desk — AI Analysis Dec 18, 2025 · 08:38 MMET · 0.425 Miata Metals Corp.
MMET · Price

Executive Summary

  • Miata Metals announces the arrival of a third drill rig (Sandvik 710) at Sela Creek, enabling two rigs to operate continuously in 2026 and supporting a fully funded 25,000 m drilling program.
  • The 2025 campaign completed 10,061 m across 59 holes with a 100 % hit rate at the Jons Trend zone; pending assay results for twelve holes.
  • The company also reports the exercise of 1,300,000 incentive stock options at $0.23 per share, with insiders purchasing 400,000 shares to cover costs.

Key Details

  • 2025 Drilling Performance
  • Total depth drilled: 10,061 m (59 holes).
  • Hit rate at Jons Trend: 100 %.
  • Recent activity: 3,000 m completed in the final two months of the campaign.

  • Assay results pending for six holes at Jons Trend and six holes at Golden Hand.

  • 2026 Drill Program

  • Target depth: 25,000 m (≈50 % on Jons Trend, 50 % on six discovery targets).
  • Key target intercepts highlighted from 2025 data:
    • Puma East – 5.3 m @ 8.25 g/t Au (from 37.7 m).
    • Big Berg – 14 m @ 1.72 g/t Au (from 164 m).
    • Puma West – 18 m @ 2.70 g/t Au (from 5.60 m).

  • New equipment: Sandvik 710 tracked diamond rig, depth capacity >1,000 m; allows two rigs to run continuously with a third for optionality.

  • Operational Enhancements

  • Construction of on‑site preparation laboratory.

  • Improved wet‑season access and expanded fuel storage to lower cost per metre drilled.

  • Discovery Targets for Early 2026

  • Puma East, Puma West, Big Berg, Howler, Stranger, Golden Hand – all advanced to drill‑ready status.

  • Stock Option Exercise

  • Incentive stock options exercised: 1,300,000 at an exercise price of $0.23 per share.
  • Insiders (directors & senior management) purchased 400,000 shares via a pre‑arranged trade on the Canadian Securities Exchange to partially fund the exercise.

  • No further dispositions planned; insiders retain net shares acquired.

  • Quality Assurance / QAQC

  • Samples processed at FILAB Suriname (ISO 9001:2015 certified).
  • Fire assay methodology: 50 g aliquot with Atomic Absorption finish; gravimetric finish for >5 g/t Au assays.

  • Inclusion of certified reference standards, blanks, and core duplicates in each batch.

  • Qualified Person Statement

  • Technical information reviewed and approved by Dr. Jacob Verbaas, P.Geo., Director and Qualified Person under NI 43‑101.

Notable Quotes

“Our 2025 exploration program proved a major turning point for Miata’s discovery strength and operational efficiency… With a second track‑mounted diamond drill rig on site and a fully funded 25,000 m program planned for 2026, we are positioned for our most active year of discovery and value creation to date.” – Dr. Jacob Verbaas, CEO

All drill results are available through the link provided in the original release.

Read the original news release →

More from Miata Metals Corp.

Jul 29, 2026 · 20:39

Miata upsizes its strategic stake to 19.9% in a $23.3m financing to fund the Sela Creek drill program.

Financings Jul 28, 2026 · 17:45

Miata’s 19.9% stake at C$0.41 validates Sela Creek gold potential, fully funding the 2026 drill campaign.

Financings Jul 13, 2026 · 07:00

Miata reports a 122 g/t gold intercept at Jons Trend, strengthening continuity without transformational impact.

Drill Results Jul 07, 2026 · 07:00

Miata’s new Puma East discovery opens a second mineralized corridor, confirming district-scale potential at its Sela Creek project.

Drill Results Jun 23, 2026 · 07:00

Miata Metals extends Sela Creek to 250m depth, though cash burn and dilution continue to weigh on its TSX-V listing.

Drill Results Jun 10, 2026 · 16:29

Miata Metals advances its 25,000m Suriname drill program following its TSX-V listing, despite ongoing concerns regarding cash burn.

Production / Operations