Tickers: BRAZ.CN | CNYGF | K5D
Recorded on: October 3, 2025
Canary Gold Corp (CSE: BRAZ | OTC: CNYGF | FSE: K5D) believes the millions of ounces dredged from Brazil’s Madeira River may have originated from a nearby hard-rock “Mocururu” conglomerate—a shallow, iron-rich horizon lying just beneath surface soils in the Rondônia region of northern Brazil.
In this conversation, President Mark Tommasi joins Steve Yang of NaturalResourceStocks.net to walk through the company’s vision, its first-phase 220-hole air-core drill program, and how a low-cost, high-density approach could confirm a district-scale source for the river’s historic 7 million+ ounces of placer gold.
Key topics covered
- Geologic thesis & scale: Evidence that the conglomerate sheet underlying the Madeira River could host multi-million-ounce potential if continuity and grade hold together across a wide area.
- Program details: ~220 holes, ≈ 20 000 metres of air-core and reverse-circulation drilling to begin in November 2025 — designed to define structure, thickness and grade distribution within 12–18 months.
- Sampling strategy: Due to a pronounced nugget effect, Canary plans bulk sampling similar to diamond projects rather than traditional assay splits.
- ESG approach: Mobile mining concept that restores topsoil and actively re-forests behind operations to minimize footprint in the Amazon basin.
- Team credentials: Advisors and founders include veteran Brazil discoverers Andrew Lee Smith, John Carter and John Hill — each with multiple mine discoveries and financings in the region.
- Capital structure & runway: ≈ 66 M shares outstanding (~91 M fully diluted) and ~C$3.5 M in treasury to initiate drilling and list on the OTCQB and German markets.
- Timeline: Results expected through 2026 as data from systematic fence drilling maps continuity of the Mocururu horizon.
Why it matters
The Madeira River basin has yielded over seven million ounces of alluvial gold through artisanal mining. If Canary Gold’s shallow conglomerate layer proves to be the source, it could represent one of the largest untested districts for sediment-hosted gold in South America. Fast, low-cost drilling and the ability to bulk-sample near surface material give the company a unique path to resource-scale definition within its first two seasons of work. #Millettian
