Founders Metals Inc. [FDR-TSXV] reported drill core assay results from its maiden drill program at the Antino gold project in southeastern Suriname. The company reports further high-grade gold intercepts as it continues to step out from and expand gold mineralization in the Froyo gold zone. Rapid assay turnaround times allow Founders to continuously share results and demonstrate the incremental growth of this high-grade gold zone to depth and along strike.
Highlights: Drill hole 23FR009 intersected nine metres (core length) of 11.10 g/t gold, including six metres of 15.92 g/t gold and 4.25 metres of 19.29 g/t gold. Drill hole 23FR010 returned 12.20 metres (core length) of 8.75 g/t gold. The highest-grade assay to date from drill hole 23FR007 was 0.95 metres of 115 g/t gold.
The new gold intercepts demonstrate continuity of high-grade gold to depth and along strike. Over 3,200 metres of drilling to date, with now-consistent drill core recovery in saprolite zones above 90%.
Colin Padget, president and CEO, commented: “These latest results are excellent and demonstrate continuity of the high-grade gold mineralization at Antino. We are continuing to build on these results in the near term, but with our recent IP [induced polarization] survey in hand and ground magnetics under way, we are excited to soon start testing the high-priority drill targets coming out of the new data. We will be releasing details of this upcoming work soon.”
Founders Metals’ continuing 2023 exploration program consists of up to 10,000 metres of diamond drilling, ground-based geophysical surveys, bedrock and structural mapping, surface geochemical surveying, and prospecting. The program aims to expand several high-grade historical gold zones to depth and along strike within the more-than-eight-kilometre-long Main Antino shear corridor as well as a series of proximal high-priority targets, including previously overlooked, intrusion-hosted, bulk-tonnage targets.
Founders Metals is focused on acquiring and advancing gold projects in the South American Guiana Shield. Its flagship project is the 20,000-hectare Antino gold project in Suriname. Exploration work on the project includes over 30,000 m of historical drilling, 35,000 gold-in-soil auger samples, property-wide aeromagnetic survey data and a 2022 lidar (light detection and ranging) survey. Antino is the most-advanced gold exploration project in Suriname, within an area where historical surface/alluvial gold mining has produced over 500,000 gold ounces to date.