Greenheart Gold Provides an Update on Its Majorodam Project in Suriname, Including Results from Hole D-014 Which Intersected 15.3 m @ 3.72 g/t Au and a Planned 10,000 m Drill Program to Expand Mineralized Footprint
High-Pedigree Exploration Team Aggressively Drilling Suriname as Treasury Offsets High Burn Rate
The February 17, 2026, news release provides drill results from the Majorodam Project in Suriname and announces a significant expansion of exploration activity. Key highlights include: - Hole MAJD25-014 intersected 15.3 meters at 3.72 g/t Au, suggesting high-grade potential within the system. - Other notable results include 6 meters at 3.04 g/t Au and 22 meters at 0.69 g/t Au. - A new "Gowtu Target" has been defined by an 800m x 1,500m gold-in-soil anomaly. - The company has initiated a 10,000-meter Reverse Circulation (RC) drill program to follow up on the Heuvel West, Heuvel East, and Gowtu targets. - To date, only 1,055 meters of the planned program have been completed (10 holes).
The news is Material - Positive in an operational sense but Routine - Positive for the stock price. - Technical Validation: The 15.3m @ 3.72 g/t Au interval is a strong result that confirms the presence of higher-grade "shoots" within the Majorodam system. - Scale of Commitment: The 10,000-meter program is a significant step up from previous 1,500-2,500 meter phases, indicating management's confidence in the project's scale. - Market Reaction: Despite these results, the stock price has drifted from its September 2025 peak of $1.70 down to $0.73. This suggests that while mineralization is confirmed, the market is waiting for evidence of a Tier-1 scale discovery (multi-million ounce potential) to re-rate the company to previous highs. - Comparison: These results are consistent with, but do not yet exceed, the early "Oko West" discovery holes made by the same management team at their previous company (Reunion Gold).
Greenheart Gold is a spin-out from the Reunion Gold/G-Mining Ventures merger (July 2024). It is led by the team that discovered the 6 Moz Oko West deposit. - Flagship Project: Majorodam Project (Suriname), located 12km south of the operating Saramacca mine. - Secondary Projects: Igab and Tosso Creek (Suriname); Tamakay and Abuya (Guyana). - Development Stage: Early to mid-stage exploration. The company uses a "rapid assessment" strategy, terminating projects that do not meet high grade/scale criteria (e.g., terminating 10 Tamakay permits in April 2025).