Founders Metals drills 6.64 g/t gold over 8.0 metres and finds new shear zone at Antino, 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. This release reports the remaining eight drill holes from phase one of drilling at the Donut Zone.
West Donut Shear Discovery: New shear zone intercepted in four holes over >150 metres of strike including 4.5 metres of 3.27 g/t gold from 15.6 metres downhole (24DO04); 12.0 m of 0.84 g/t Au from 12.6 m (24DO13); 27.0 m of 0.73 g/t Au from 26.1 m (24DO14); and 16.5 m of 2.35 g/t Au from 26.1 m (Hole 24DO02, previously reported).
Main Donut Shear: Along-strike continuity of previously reported high-grade gold at Donut with intervals including 8.0 metres of 6.64 g/t gold from 247.0 metres (Hole 24DO13); 19.0 m of 1.02 g/t Au from 99.0 m (Hole 24DO09); and 6.0 m of 3.10 g/t Au from 181.0 m (Hole 24DO15).
The Donut Zone is located in the northwest section of the Antino Property, approximately 800 metres northeast of the Froyo Zone. Mineralization at Donut is characterized by broader, intrusion-hosted gold mineralization and structurally controlled high-grade gold mineralization.
Colin Padget, CEO, commented, “We are pleased to see the gold mineralization at Donut continue along strike with 8.0 metres of 6.64 g/t gold in hole 24DO13 and some broader, lower-grade intervals as expected. Additionally, we’ve hit a second gold-bearing shear hosted in the mixed volcanic rocks to the west of Donut with near surface gold mineralization over substantial widths. Combined, these results represent an excellent first phase of drilling at Donut and our team is busy with planning follow up work.”
The newly identified West Donut Shear is a steeply dipping zone of shear-hosted gold mineralization intercepted in four drill holes. The zone is intercepted near surface in all four holes. Drill holes 24DO04 (4.5 m of 3.27 g/t Au), 24DO13 (12.0 m of 0.84 g/t Au), 24DO14 (27.0 m of 0.73 g/t Au) and previously reported 24DO02 (16.5 m of 2.35 g/t Au) outline a north-south oriented shear zone with a minimum strike length of 150 metres. The zone remains open along strike and has not been drill tested below a vertical depth of 40 metres.
Gold mineralization at Donut occurs within a main shear near the tonalite intrusive body’s margin. Broader, up to 40 metres, zones of lower-grade gold mineralization (0.1 – 1.5 g/t Au) also occur within the intrusive. The latest results including, 8.0 metres of 6.64 g/t gold (24DO013), 6.0 metres of 3.10 g/t gold (24D015) and 19.0 metres of 1.02 g/t gold (24DO09) confirm the continuation of high-grade gold along the western and northwestern extents of the intrusive contact where shearing is most concentrated. Mineralization in this part of the Donut system remains open and currently extends over a strike length of at least 190 metres along the western contact and >130 metres along the northwestern margin. The eastern and southern intrusive margins also potentially host gold and will be further tested as part of the company’s future drilling plans.
Founders Metals 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 drilling in 2024.