Miata Metal Company (MMETF), Suriname gold mine drilling achieves great success... with high-grade ore reaching 31.37 g/t and listed on the OTCQX Market

Miata Metals (MMETF) is advancing its capital market strategy alongside large-scale drilling results for the Suriname Selakreek gold project, strengthening the momentum for “gold exploration.” With continuous high-grade gold mineralization intersections, an expanding drilling range, and milestones such as OTCQX listing being achieved, accessibility for North American investors is also improving.

On March 24, 2026, the company announced the confirmation of a 96-meter section with an average grade of 1.41 grams per ton of gold (Au) in the Berg Mountain target area. This section suggests the presence of a broadly developed mineralization zone near the surface, crucially confirmed continuity about 1 kilometer away from the Jones trend. Currently, this area remains open in both strike and depth, with significant potential for further expansion, as a drill rig is conducting additional exploratory drilling.

The Jones trend continues to yield results. 2026’s additional drilling results indicate that the mineralization range has expanded by about 20%, extending horizontally to a scale of 300 meters, and confirms multiple high-grade sections, such as a 11.3-meter section at 3.58 grams per ton and a 32.0-meter section at 1.20 grams per ton. Some sections repeatedly show grades as high as 31.37 grams per ton of gold. The company explained that all results are true thicknesses, and there is still room for expansion in the mineralization zone. A second drill rig has been deployed to conduct concurrent exploratory drilling and regional exploration.

Significant results were already accumulated during drilling in 2025. Out of a total of 10,041 meters drilled, the Jones trend formed a continuous mineralization zone measuring 750 meters by 250 meters, with analysis indicating it extends to a maximum depth of 200 meters. High-grade and wide mineral sections were confirmed, such as a 4.3-meter section at 12.49 grams per ton (with 1.3 meters at 29.24 grams per ton) and a 22.7-meter section at 2.23 grams per ton. Berg Mountain also reported results from an 8.1-meter section at 2.21 grams per ton. Geophysical inversion results suggest that the main structure may extend to a maximum depth of 1.5 kilometers.

Based on this trend, the company is utilizing fully allocated funds to advance a large diamond drilling program totaling 25,000 meters in 2026. About half is allocated to the Jones trend, with the remainder distributed among promising target areas such as Cougar, Berg Mountain, Stranger, and Golden Hand. Initial drilling has confirmed “visible gold” at 134.20 meters and 181.70 meters, raising expectations. By applying a structural model integrated with over ten thousand directional core data, drilling efficiency has also improved; this program will continue until December 2026.

Improvements are also being made in equipment and operations. A new Sandvik 710 tracked drill has been added, and the sample preparation laboratory, access roads, and fuel storage facilities have been expanded to reduce drilling costs per meter. Insiders exercised 1.3 million stock options at $0.23 per share, increasing their holdings.

Capital market initiatives are also noteworthy. Miata Metals upgraded from OTCQB to the OTCQX Best Market on January 21, 2026, enhancing accessibility and visibility for U.S. investors. It continues to trade on the Canadian Securities Exchange (CSE) under the original code MMET. The company is also enhancing digital marketing efforts (up to CAD 100,000 per month) and has signed a market-making agreement (CAD 6,000 per month) to seek increased liquidity.

In terms of governance structure, the company appointed Derk Hartman as an external director, who has over 25 years of experience in mining, finance, and project development. The company anticipates that Hartman’s expertise in the Suriname region will make a substantial contribution to the Selakreek project and has granted him 300,000 stock options (exercise price CAD 0.54).

Additionally, 450,000 stock options have been granted to employees and consultants. The options vest 50% after six months and the remaining portion after twelve months, with an exercise price of $0.50 per share, valid for three years. A four-month lock-up period applies as per Canadian securities regulations.

The industry has noted that the “mineralization continuity” and “expandability” centered around the Jones trend and Berg Mountain are being confirmed simultaneously. A representative from Kament Mining Development Consulting commented, “The coexistence of wide medium-grade and high-grade mineral sections may play a favorable role in future resource estimates and economic evaluations,” adding, “The parallel verification of multiple target areas reduces exploration risk.”

Miata Metals’ strategy is to focus on phased resource expansion based on the drilling data and structural models currently obtained. The combination of continuous drilling results and improved market accessibility has led to market attention regarding whether its future valuation will be reevaluated.