Founders Metals Inc. [FDR-TSXV] reported initial early results and has provided an update on its 2023 drill program at the Antino gold project in southeastern Suriname. The company’s exceptional early results confirm high-grade gold mineralization in the Upper Antino Area’s Froyo Zone. Ongoing drilling focuses on further extending this zone to depth and along strike. Founders also reports excellent production using its own drilling equipment, with recovery and penetration rates that significantly outpace previous operators on the property.
Highlights: Drill hole 23FRDD003 intersected 12 metres core length of 19.22 g/t gold, including 3 metres of 29.90 g/t gold and 2.65 metres of 22.37 g/t gold.
Drill hole 23FRDD001 returned 4.5 metres core length of 9.92 g/t gold.
The new gold intercepts are potential down-dip and along strike extensions of previously reported high-grade surface grab samples with gold assays of up to 57.84 g/t gold.
Efficient and cost-effective use of Founders’ own drill rig with over 2,000 metres of drilling to date with a second drill still to come on-line.
Founders Metals president and CEO Colin Padget commented: “The 2023 Antino drill program is off to a great start with smooth drilling, proven fast turnaround on assays, and these terrific early results. A 12-metre interval of 19.22 g/t gold near surface and in rock below the saprolite, demonstrates the tenor of high-grade gold mineralization at Antino and the potential for open-pit mining. With gold mineralization occurring over more than 8 km of strike along the main Antino Shear and artisanal mining workings extending another several kilometres to the property’s edge, we see real potential for growth toward becoming a world-class Guiana Shield gold asset.”
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 8-km-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 metres of historical drilling, 35,000 gold-in-soil auger samples, property-wide aeromagnetic survey data, and a 2022 LiDAR 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.