Figure 1: Upper Antino plan map centred on the Froyo Gold Zone. Cross-section line A-A’ corresponds to Figure 2. C

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.

Figure 2: A-A’ Cross-section through latest Froyo Gold Zone drill results. Source: Founders Metals

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.

Hole ID From (m) To(m) Core Length* (m) Au (g/t)
24GG03 128.00 137.00 9.00 1.58
24GG04 134.00 139.00 5.00 1.8
and 149.00 187.00 38.00 10.9
ADH071 53.50 55.00 1.50 25.01
and 63.50 75.50 12.00 4.99

*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.

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