Founders Metals discovers new gold zone at Antino project, Suriname
Founders Metals Inc. [TSXV- FDR; OTCQX-FDMIF; FSE-9DL0] reported drill core assay results from its fully-funded 2024 drill program at the Antino Gold Project in southeastern Suriname. The company reports 45.0 metres (m) of 2.16 g/t gold in drill hole 24DO06 and confirms over 250 metres of strike in a discovery at the Donut target. Donut is located ~800 metres east of the Froyo Gold Zone where drilling continues to deliver strong results, with hole 24FR51 returning 10.0 metres of 4.73 g/t gold and 24FR50 returning 8.0 metres of 8.43 g/t gold in a major 90 metre down-dip extension to ~250 metres vertical depth.
Highlights – New Discovery: Intrusion-hosted gold at the Donut Target: Hole 24DO06 intercepted 45.0 metres of 2.16 g/t gold. Current strike extent of over 250 metres and remains open. Over 800 metres east of the Froyo Gold Zone.
At Froyo: Hole 24FR50 intercepted 8.0 metres of 8.43 g/t gold in 90 metre down-dip extension to 250 metres vertical depth.
Historical gold in auger samples grading up to 25.30 g/t gold at Eclaire Target demonstrate potential to extend Froyo gold mineralization NW by over 500 metres.
Historical gold in auger samples up to 88.94 g/t gold at Cupcake Target between Froyo and Donut.
Colin Padget, Founders CEO commented, “We are extremely pleased with the first round of Donut results, and we’ve only scratched the surface of what could be there. The widths and grade distribution types suggest a compelling intrusion-hosted, bulk-tonnage target located only 800 metres from the high-grade shear-hosted gold mineralization at Froyo. We can already see over 250 metres of strike, and there is strong evidence from geophysical data of a km-scale intrusive body. The potential for two gold deposits less than a kilometre from each other truly underlines how robust the Antino gold system is.
“In addition to Donut, today’s results from Froyo demonstrate the continuity of Froyo mineralization with an over 90 metres down-dip extension to 250 metres vertical depth. As our drills continue to unlock Upper Antino’s major potential, our field teams are also busy in the distal parts of the property, advancing compelling new targets to drill-ready status.”
Gold mineralization at the Froyo Gold Zone occurs as high-grade, shear-hosted gold mineralization associated with pyrite and pyrrhotite in quartz and quartz-carbonate veins. These often metre-scale veins occur within ~5-30 metre wide mylonitic shears that comprise a broader shear zone.
Gold mineralization at Donut is hosted primarily within a tonalitic intrusive body. Gold is associated with broad (>20 m) intervals of intense silicification, quartz veining and sericite alteration. Visible gold was observed in two holes.
Founders Metals properties in North and South America. The company focuses on acquiring and advancing gold projects in the Guiana Shield. Its flagship asset is the 20,000 ha 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.