Founders Metals drills 8.54 g/t gold over 9 metres of Antino, Suriname
Founders Metals Inc. [TSXV-FDR; OTCQX-FDMIF; FSE-9DL0] reported drill core assay results from the Antino gold project in southeastern Suriname. The company has released results for six separate gold intervals in drill hole 23FR045, demonstrating further evidence of a gold-bearing shear zone parallel to the main Froyo shear and potential for economically significant gold mineralization between the two structures.
Highlights: Drill hole 23FR045 intercepts mineralization from surface with six major zones totalling 56.5 metres of gold mineralization: 10.5 metres of 2.81 g/t gold from 14.1 metres down hole; five m of 4.18 g/t Au from 30 m; nine m of 8.54 g/t Au from 43 m; 13 m of 5.21 g/t Au from 62 m; 12 m of 2.74 g/t Au from 85 m; and seven m of 2.74 g/t Au from 136 m.
Intervals are core length and estimated to represent 85% or more of true width based on current drill data.
Colin Padget, CEO, commented: “We are thrilled to see so much gold mineralization through this zone as it really starts to fill the gap between the main Froyo structure and this emerging parallel trend. Additionally, these are all near-surface gold intervals further improving the potential economics of an open-pit mining scenario. Founders’ technical team has also added several new holes to further test the extent of this mineralization, both along strike and further to depth, so I am particularly excited to be on my way to Antino next week and to see the incoming core in person.”
Samuel Yik will assume the role of chief financial officer (CFO) and corporate secretary. Mr. Yik replaces Justin Bourassa, who resigned from the company as CFO and corporate secretary of the company effective January 5, 2024.
Founders Metals focuses on acquiring and advancing gold projects in the Guiana Shield. Its flagship asset is the 20,000-hectare Antino gold project in Suriname, where artisanal surface/alluvial mining has produced over 500,000 gold ounces to date. Using its diamond drilling equipment, the company drilled over 10,000 metres in 2023 and is fully financed for up to 30,000 metres in 2024.