01:23 PM EDT, 09/30/2025 (MT Newswires) -- Cerrado Gold ( CRDOF ) shares rose 10% on Tuesday after it revised its exploration plans in order to boost the drilling program at its Minera Don Nicolas gold mine (MDN) in Argentina.

The company said it is planning to add three additional drill rigs to its diamond drill fleet and expects the overall scope of the program to increase significantly to about 50,000 meters in 2026, up from 20,000 meters. It is taking steps to certify its on-site lab in order to expedite assay completion and turn around times.

Underground exploration is also expected to start in the coming months once sufficient development has been completed.

"We are seeing a significant shift in the operations at MDN as we have a solid base for consistent production and mine life, with numerous high quality opportunities to extend both," said Chief Executive Mark Brennan. "At a minimum, we hope to deliver a proof of concept of significant LOM extension and growth potential by year end."

Shares of the company were last seen up $0.13 at $1.4 on the TSX Venture Exchange.

Price: 1.38, Change: +0.11, Percent Change: +8.66