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 results for a further two holes from the Froyo Gold Zone with highlight down hole intervals of 15.0 metres of 8.18 g/t gold and 26.0 metres of 5.52 g/t gold. Drill holes 048 and 049 intercept gold mineralization over multiple zones starting from surface with 297.2 and 190.2 total gram-metres per tonne (gm/t), respectively.
Highlights: Drill hole 23FR048 intercepts gold over five zones starting from surface: 6.6 m of 2.07 g/t Au from 0.0 m down hole; 12.0 m of 3.92 g/t Au from 12.6 m; 18.0 m of 2.68 g/t Au from 33.0 m; 15.0 m of 8.18 g/t Au from 63.0 m; 6.0 m of 10.94 g/t Au from 145.0 m.
Drill hole 23FR049 intercepted gold over four zones starting from surface including 26.0 m of 5.52 g/t Au from 44 m down hole. Intervals are core length and estimated to represent 85% or more of true width based on current drill data
Colin Padget, commented, “We continue to define and expand the impressive gold mineralization at Froyo, and these two holes are further evidence of a much broader gold system than previously recognized by earlier explorers on the property. We are adding ounces with every drill hole and as we continue drilling at Froyo, our focus is expansion and efficient resource definition work. We are also set to begin drill testing some new Upper Antino targets as part of our larger 2024 exploration plans.”
Drill hole 048 and 049 intercepted multiple zones of intense silicification and local sericitization. Tourmaline and Fe-carbonate are commonly associated with elevated gold grades. Pyrrhotite and pyrite content ranges from 5-20% within the gold zones. The apparent orientation and overall character of these intervals is similar to the main Froyo Gold Zone.
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. The company has drilled over 10,000 metres in 2023 and is fully financed for up to 30,000 metres in 2024.