Founders Metals (TSXV:FDR) (OTCQX:FDMIF) has launched its 2024 drill program at the Antino Gold Project in southeastern Suriname. The company plans to drill up to 7,000 meters at the Buese area, starting with an initial 3,000-meter phase 1 program using its recently acquired third diamond drill.

Colin Padget, Founders’ President & CEO, commented in a press release: “We are very encouraged by the results of the preliminary work completed at Buese and are excited for the ongoing drilling. Historical work primarily targeted the high-grade shears and other mineralization separate from the Filuca intrusive. Given our recent work and updated geological interpretation, phase 1 of our drilling focuses on the bulk-tonnage potential of the Filuca intrusive and the high-grade shears zones along its edge.”

The Buese area covers over 600 hectares, located approximately six kilometers southeast of Upper Antino and the Froyo Gold Zone. Gold mineralization at Buese has been mapped over two kilometers along the southeastern extent of the Antino Gold Trend. The mineralization occurs within and along the margins of the Filuca tonalite intrusion. Recent artisanal mining exposed heavily altered outcrops, showing multiple generations of quartz and quartz-carbonate veins throughout the exposed body.

Founders’ recent exploration results, combined with historical auger sampling and limited past drilling of the Filuca intrusive, indicate significant potential for bulk-tonnage gold mineralization. This setting and style of mineralization are similar to the multi-million ounce Omai and Yaou gold deposits in Guyana and French Guiana, respectively.

Founders’ exploration work includes new ground magnetic and IP geophysical surveys, auger and rock sampling, detailed mapping, and analysis of historical drilling. The company has defined several high-priority drill targets. Geological mapping has successfully defined over 35,000 square meters of the tonalitic Filuca intrusive, with surface sampling confirming substantial gold mineralization associated with an extensive quartz and quartz-carbonate stockwork vein system. Channel sample results from Buese include 9.34 g/t Au over 8.0 meters and 11.87 g/t Au over 12.0 meters, with up to 113.0 g/t Au.​

Highlights from the results are as follows:

• Founders-owned third diamond drill rig now operating
• Start of 3,000 m phase 1 drilling program at Buese
• New induced polarization (IP) and ground magnetic surveys support previously unidentified mineralized structures confirmed with high-grade gold samples at surface
• Channel sample grading 9.34 grams per tonne (g/t) gold (Au) over 8.0 m including 1.0 m of 42.56 g/t Au as well as previously released results of up to 113.0 g/t Au
• Over 35,000 m² of mapped Filuca intrusive with potentially a much larger subsurface body supported by recent geophysics

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

Founders Metals (TSXV:FDR) has released drill core assay results from its ongoing 2024 drill program at the Antino Gold Project located in southeastern Suriname. The company’s latest drillhole, 24GG04, situated in the northwestern-most part of the Froyo target area, has yielded a significant gold intercept.

Colin Padget, Founders Metals CEO commented in a press release: “Today’s results are some of the best we’ve seen at Antino, and are yet another example of the exceedingly high-grade, near surface gold mineralization at Froyo. Additionally, we have submitted samples for metallic screening to determine gold concentrations using a much larger sample volume. This method can capture coarser gold than fire assay. We expect the result soon. We are also pleased to report that our primary assay lab in Paramaribo has renewed its commitment of two-to-three-week turnaround times on assays. Though assays have often come back much faster, we recognize that with additional drilling, more surface sampling, targeted multi-element geochemistry, and metallic screening of select drill core, we can more reasonably expect two-to-three-week timelines.”

According to the assay results, drillhole 24GG04 intersected 38.0 metres grading 10.90 grams per tonne (g/t) gold (Au). This interval, which contains previously released gold vein photos from the company’s March 4th release, is considered one of the best gold intercepts at the Antino project, with a grade-thickness product of over 410 gram-metres per tonne (gm/t).

The presence of coarse gold in the samples has prompted the company to resubmit them for metallic screening, a process designed to more accurately determine the gold content in samples containing coarse or nuggety gold.

Founders Metals is currently conducting a fully-funded drill program at the Antino Gold Project, which aims to further delineate the extent and grade of the gold mineralization within the project area. The company’s exploration efforts are focused on the Froyo target area, where previous drilling has identified significant gold mineralization.

The Antino Gold Project is located in southeastern Suriname, a region known for its gold mining potential. Suriname, a small country on the northern coast of South America, has seen increased interest from mining companies in recent years due to its favorable geology and relatively underexplored nature.

As the 2024 drill program at the Antino Gold Project continues, the company is expected to release further assay results and updates on its exploration activities. The high-grade gold intercept from drillhole 24GG04 underscores the potential for significant gold mineralization within the project area and may encourage additional exploration and investment in the region.

Highlights from the results are as follows:

• Hole 24GG04 intercepts 38.0 m of 10.90 g/t Au from 149.0 m down hole, with metallic screening results pending (Table 1, Figures 1&2)
• Results are from Founders’ furthest northwest drilling at the Froyo Gold Zone
• Gold mineralization remains open toward high-grade historical auger sampling results

Table 1: Drilling Results and Highlights. Results shown for ADH071 are historical.

*Intervals are core length and estimated to represent 85% or more of true width based on current drill data

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.