Founders Metals Inc. announces drill core assay results from the Antino Gold Project in southeastern Suriname. The Company reports intercepting numerous high-grade gold intervals in a new zone parallel to the main Antino Shear Zone, more than doubling the width of the gold mineralized footprint to over 200 m. The intervals include, from separate holes, 14.5 metres* (m) of 16.26 grams per tonne (g/t) gold (Au), 26.0 m of 4.86 g/t Au, and 14.0 m of 3.65 g/t Au.
Highlights
New gold zone discovery in step-out drilling parallel to the main Froyo Gold Zone
Drill hole 23FR041 intercepts 14.5 m of 16.26 g/t Au from 52.7 m down hole
Drill hole 23FR044 intercepts mineralization from surface with four major zones and one interval containing visible gold (Figure 1):
11.6 m of 2.59 g/t Au down hole from surface
13.0 m of 6.29 g/t Au from 42 m down hole
26.0 m of 4.86 g/t Au from 56 m down hole and,
6.0 m of 8.52 g/t Au from 117 m down hole
Drill-defined gold mineralization at Froyo covers more than 500 x 200 m and extends to vertical depths of >150 m (Figure 2)
“We continue to expand the exceptional gold mineralization at Upper Antino, and these new results represent a major addition to the overall footprint of this robust gold system. We can now point to a sizeable Froyo volume extending more than 500 metres along strike, 200 metres wide, and over 150 metres vertical depth, and that remains open along strike and at depth. Even more exciting is that this year’s drilling has tested only a fraction of the historical auger gold anomalies at Upper Antino, with similar surficial gold signatures yet to be tested at Lower Antino, Parbo, and Buese areas.”
Colin Padget, Founders’ CEO
Figure 1. Photo of visible gold (VG) from hole 23FR044.
*Intervals are core length and estimated to represent 85% or more of true width based on current drill dataFigure 2. Upper Antino area plan map. Interval highlights from this release are labelled.
Figure 3. Representative hole 23FR041 drill core showing excellent grade distribution in sheared volcanic rocks. Strong silicification is observed throughout the interval and sulphide content (pyrite & pyrrhotite) ranges from 3 to 20%.
Figure 4. Map of the Antino Gold Project concession area showing gold concentrations from historical auger sampling. Most of the property remains unexplored.
Figure 5. Map of main prospect areas showing contour gold values from historical auger sampling. Anomalous gold mineralization extends over 8 kilometres from Upper Antino to Buese, with a similar scale signature identified at Lower Antino. The outline of Froyo Zone gold mineralization in the Upper Antino area demonstrates the scale of potential future gold discoveries on the property. The map shows only ~40% of the Project’s 20,000-hectare land package.
Table 1. Drilling results and highlights.
Drill hole From (m) To (m) Interval** (m) Au (g/t)23FRDD030 22.5 31.5 9.0 0.63and 143 149 6.0 1.6523FRDD033 12.5 28.5 16.0 0.7023FRDD034 9 26 17.0 1.04and 35 41 6.0 0.4323FRDD035 9 19.5 10.5 0.83and 113 119 6.0 0.9323FRDD036 12 27 15.0 1.01and 60 65 5.0 1.93and 95 100 5.0 1.1923FRDD041 9 20 11.0 2.39and 52.7 67.2 14.5 16.2623FRDD042 0 6 6.0 0.90and 10 24 14.0 3.65and 70 75 5.0 3.2723FRDD043 2.7 15.6 12.9 1.6123FRDD044 0 11.6 11.6 2.59and 34 35 1.0 11.12 (VG)and 42 55 13.0 6.29and 56 82 26.0 4.86and 117 123 6.0 8.52**Intervals are reported using a cut-off grade of 0.3 g/t Au, a 5-metre minimum length and a 5-metre maximum for internal dilution.
About Founders Metals Inc.
Founders Metals is a Canadian exploration company with 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 date1. Using its diamond drilling equipment, the Company drilled over 10,000 m in 2023 and is fully financed for up to 30,000 m in 2024.
1 2022 Technical Report – Antino Project; Suriname, South America. K. Raffle, BSc, P. Geo & Rock Lefrançois, BSc, P.Geo.
Quality Assurance and Control
Results from samples were analyzed at FILAB Suriname, a Bureau Veritas Certified Laboratory in Paramaribo, Suriname (a commercial certified laboratory under ISO 9001:2015). Samples are crushed to 75% passing 2.35 mm screen, riffle split (700 g) and pulverized to 85% passing 88 µm. Samples were analyzed using a 50 g fire assay (50 g aliquot) with an Atomic Absorption (AA) finish. For samples that return assay values over 10.0 grams per tonne (g/t), another cut was taken from the original pulp and fire assayed with a gravimetric finish. Founders Metals inserts blanks and certified reference standards in the sample sequence for quality control. External QA-QC checks are performed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). A secure chain of custody is maintained in transporting and storing of all samples. Drill intervals with visible gold are assayed using metallic screening. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.
Qualified Persons
The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc., P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS,
Per: “Colin Padget”
Colin PadgetPresident, Chief Executive Officer, and Director
Founders Metals Contact Information
Dave Burwell, VP, Corporate DevelopmentTel: 403 410 7907 | daveb@fdrmetals.com
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