Christmas in the Jungle: Founders Metals Hits 36.0 m of 2.21 g/t Gold & 67.0 m of 1.26 g/t Gold from Surface in New Da Vinci Discovery
Founders Metals Inc. (TSXV: FDR) announces significant drill results from its new Da Vinci prospect at the Antino Gold Project in Suriname. The first five drill holes revealed substantial gold mineralization from surface, including notable intersections of 36.0 metres of 2.21 g/t gold and 67.0 metres of 1.26 g/t gold. The discovery shows two northwest-striking, sub-parallel shears with characteristics similar to the Upper Antino Froyo Zone.
The drilling program, initially planned for three holes, has been expanded to twelve holes, with additional results expected in early Q1 2025. The company has confirmed mineralization over 100m of strike and 180m vertical depth, with visual confirmation suggesting extension to over 250m strike and ~200m vertical depth. Founders Metals has secured funding for 60,000 metres of drilling in 2025.
Founders Metals Inc. (TSXV: FDR) annuncia risultati significativi di perforazione dal suo nuovo progetto Da Vinci presso l'Antino Gold Project in Suriname. I primi cinque fori di perforazione hanno rivelato una sostanziale mineralizzazione aurifera dalla superficie, compresi notevoli intersezioni di 36,0 metri di 2,21 g/t di oro e 67,0 metri di 1,26 g/t di oro. La scoperta mostra due faglie sub-parallele che si estendono verso nord-ovest con caratteristiche simili alla Upper Antino Froyo Zone.
Il programma di perforazione, inizialmente previsto per tre fori, è stato ampliato a dodici fori, con ulteriori risultati attesi all'inizio del Q1 2025. La società ha confermato la mineralizzazione su una lunghezza di oltre 100m e una profondità verticale di 180m, con conferme visive che suggeriscono un'estensione di oltre 250m in lunghezza e ~200m di profondità verticale. Founders Metals ha assicurato finanziamenti per 60.000 metri di perforazione nel 2025.
Founders Metals Inc. (TSXV: FDR) anuncia resultados significativos de perforación de su nuevo prospecto Da Vinci en el Antino Gold Project en Surinam. Los primeros cinco agujeros de perforación revelaron una sustancial mineralización de oro desde la superficie, incluyendo intersecciones notables de 36,0 metros de 2,21 g/t de oro y 67,0 metros de 1,26 g/t de oro. El descubrimiento muestra dos fallas sub-paralelas que se extienden en dirección noroeste con características similares a la Upper Antino Froyo Zone.
El programa de perforación, inicialmente planeado para tres agujeros, se ha ampliado a doce agujeros, con resultados adicionales esperados a principios del primer trimestre de 2025. La compañía ha confirmado mineralización en más de 100m de longitud y 180m de profundidad vertical, con confirmaciones visuales que sugieren una extensión de más de 250m de longitud y ~200m de profundidad vertical. Founders Metals ha asegurado financiamiento para 60,000 metros de perforación en 2025.
Founders Metals Inc. (TSXV: FDR)는 수리남의 Antino Gold Project에 있는 새로운 Da Vinci 탐사에서 중요한 시추 결과를 발표했습니다. 첫 다섯 개의 시추 홀에서는 표면에서 상당한 금 광물이 발견되어 36.0 미터의 2.21 g/t 금과 67.0 미터의 1.26 g/t 금의 주목할 만한 교차점이 포함되었습니다. 이 발견은 북서쪽 방향에 비슷한 특성을 가진 두 개의 평행한 파쇄대가 있음을 보여줍니다. Upper Antino Froyo Zone과 유사합니다.
시추 프로그램은 처음에 세 개의 홀로 계획되었으나, 열 개의 홀로 확대되었으며, 추가 결과는 2025년 1분기 초에 예상됩니다. 이 회사는 100m의 스트라이크와 180m의 수직 깊이에 걸쳐 광물화를 확인했으며, 시각적 확인에 따르면 250m 이상의 스트라이크와 약 200m의 수직 깊이로의 확장이 예상됩니다. Founders Metals는 2025년에 60,000미터의 시추를 위한 자금을 확보했습니다.
Founders Metals Inc. (TSXV: FDR) annonce des résultats de forage significatifs de son nouveau prospect Da Vinci au projet Antino Gold au Suriname. Les cinq premiers forages ont révélé une mineralisation aurifère substantielle en surface, y compris des intersections notables de 36,0 mètres à 2,21 g/t d'or et 67,0 mètres à 1,26 g/t d'or. La découverte montre deux failles sub-parallèles s’étendant vers le nord-ouest avec des caractéristiques similaires à la Upper Antino Froyo Zone.
Le programme de forage, initialement prévu pour trois forages, a été élargi à douze forages, avec des résultats supplémentaires attendus au début du premier trimestre 2025. La société a confirmé la minéralisation sur plus de 100m de longueur et 180m de profondeur verticale, avec des confirmations visuelles suggérant une extension à plus de 250m de longueur et ~200m de profondeur verticale. Founders Metals a sécurisé un financement pour 60 000 mètres de forage en 2025.
Founders Metals Inc. (TSXV: FDR) gibt bedeutende Bohrergebnisse aus seinem neuen Da Vinci-Projekt im Antino Gold Project in Surinam bekannt. Die ersten fünf Bohrlöcher zeigten eine substanzielle Goldmineralisierung an der Oberfläche, einschließlich bemerkenswerter Schnittstellen von 36,0 Metern mit 2,21 g/t Gold und 67,0 Metern mit 1,26 g/t Gold. Die Entdeckung zeigt zwei nordwestlich verlaufende, parallel verlaufende Scherung, die ähnliche Eigenschaften wie die Upper Antino Froyo Zone aufweisen.
Das Bohrprogramm, das ursprünglich für drei Löcher geplant war, wurde auf zwölf Löcher ausgeweitet, wobei weitere Ergebnisse Anfang des ersten Quartals 2025 erwartet werden. Das Unternehmen hat eine Mineralisierung über 100m Strecke und 180m vertikale Tiefe bestätigt, wobei visuelle Bestätigungen auf eine Erweiterung von über 250m Strecke und ~200m vertikale Tiefe hindeuten. Founders Metals hat eine Finanzierung für 60.000 Meter Bohrungen im Jahr 2025 gesichert.
- All five initial drill holes intersected significant gold mineralization from surface
- Best intersections include 67.0m @ 1.26 g/t Au and 36.0m @ 2.21 g/t Au
- Drilling program expanded from 3 to 12 holes due to positive results
- Secured funding for 60,000 metres of drilling in 2025
- Mineralization confirmed over 100m strike length with potential extension to 250m
- True widths of mineralization currently unknown
- Additional assay results pending, creating uncertainty about overall deposit size
Vancouver, British Columbia--(Newsfile Corp. - December 11, 2024) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") announces drill core assay results from the newly discovered Da Vinci prospect ("Da Vinci") at the Antino Gold Project ("Antino" or "Project") in southeastern Suriname (Figure 1). The Company reports results from the first five holes at Da Vinci where gold mineralization occurs from surface over two broad shear zones including, 21 metres (m) of 3.24 grams per tonne (g/t) gold (Au) within a broader 67.0 m of 1.26 g/t Au and 36.0 m of 2.21 g/t Au.
Highlights
- New Discovery - drilling confirms from surface gold mineralization in two parallel shears over 100 m of strike and 180 m vertical depth in the first five holes at Da Vinci (Figure 3)
- DV001 - 28.5 m of 1.30 g/t Au including 10.5 m of 2.39 g/t Au
- DV002 - 67.0 m of 1.26 g/t Au including 21.0 m of 3.24 g/t Au
- DV003 - 36.0 m of 2.21 g/t Au
- DV004 - 15.6 m of 1.18 g/t Au from surface
- DV005 - 47.0 m of 1.07 g/t Au including 10.5 m of 3.40 g/t Au from surface
- Two northwest-striking, sub-parallel shears with similar structural characteristics as the Upper Antino Froyo Zone (Figure 4)
- Visual confirmation in additional drill holes pending assays of similar quartz and sulphide-rich zones that extend strike to over 250 m and ~200 m vertical depth
- Initial three-hole drilling plan expanded to twelve holes, with additional results expected in early Q1 2025
Founders' President and CEO, Colin Padget, commented, "The results from Da Vinci are spectacular. They not only affirm our confidence in Antino's Tier 1 potential but also validate our unwavering commitment to focus on exploration in 2025. The first five drill holes all intersected substantial intervals of gold mineralization, and our team is more eager than ever to continue drilling in the new year and continue uncovering what has all the hallmarks of another major gold system. 2024 has been transformational for Founders with continuous growth at Upper Antino, successful initial drilling programs at Buese and Lower Antino, and now this new discovery at Da Vinci. With 60,000 metres of fully funded drilling in 2025, we're set for an exciting year ahead."
Geology Discussion
The Da Vinci discovery displays several key geological features that are similar in nature to those associated with other gold zones on the property including Upper Antino's Froyo Zone, Lower Antino, and areas within Buese. These features at Da Vinci include:
- Multiple subparallel northwest-striking shear zones, with at least two so far at Da Vinci
- Stronger, more frequent shearing at lithological contacts
- Dip-slip shearing (latest movement)
- Main folding event occurs before both shearing and mineralizing event
- Local late refolding with northeast axial traces
- Higher gold grades associated with brittle overprinting (e.g., brecciation, extensional veins, and fractures with sulphide infill)
- Hydrothermal ankerite and sericite alteration
At Antino there are numerous other untested areas of interest with these same characteristics, and many include additional gold-in-auger anomalies or geophysical anomalies underscoring the potential for many more new discoveries over the 200 km2 property. The recognition of these common features will help guide the Company's future exploration efforts.
Figure 1: Property Scale Plan Map with Auger Samples
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Figure 2: Da Vinci Prospect
Aerial view of the Da Vinci prospect showing scale of historical artisanal workings. There has been no organized mining here since 2017, leaving the abandoned camp infrastructure available for Founders to refurbish and most of the free-digging saprolite gold mineralization preserved.
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Figure 3: Da Vinci Plan Map
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Figure 4: Da Vinci Section Looking Northwest
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Figure 5: Core Photos for DV002 Interval 197.0 m - 218.0 m with Gold Assays Labelled
Interval demonstrates the excellent widespread grade distribution
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Table 1: Assay Results
| Hole ID | From (m) | To (m) | Core Length* (m) | Au (g/t) |
| DV001 | 71.10 | 99.60 | 28.50 | 1.30 |
| including | 72.60 | 83.10 | 10.50 | 2.39 |
| DV002 | 151.00 | 218.00 | 67.00 | 1.26 |
| including | 197.00 | 218.00 | 21.00 | 3.24 |
| DV003 | 72.60 | 108.60 | 36.00 | 2.21 |
| DV004 | 0.00 | 15.60 | 15.60 | 1.18 |
| DV005 | 0.00 | 47.10 | 47.10 | 1.07 |
| including | 18.60 | 29.10 | 10.50 | 3.40 |
| and | 122.10 | 125.00 | 2.90 | 0.74 |
| and | 137.00 | 144.00 | 7.00 | 0.37 |
*Intervals represent down-hole depths with true widths of mineralization currently unknown
Table 2: Drill Hole Locations
| Hole ID | Easting* (m) | Northing* (m) | Elevation (m) | Azimuth (°) | Dip (°) | Depth (m) |
| DV001 | 824705.9 | 394339.0 | 189.3 | 26.5 | -50.3 | 221.0 |
| DV002 | 824705.9 | 394339.0 | 189.3 | 31.5 | -70.3 | 305.0 |
| DV003 | 824706.5 | 394340.9 | 189.5 | 30.0 | -55 | 206.1 |
| DV004 | 824704.1 | 394342.1 | 189.4 | 210.9 | -50.5 | 200.0 |
| DV005 | 824605.8 | 394350.5 | 186.9 | 32.7 | -49.8 | 271.8 |
*The coordinate reference system is WGS 84, UTM zone 21N (EPSG 32621)
About Founders Metals Inc.
Founders Metals is a Canadian-based exploration company focused on advancing the Antino Gold Project located in Suriname, South America, in the heart of the Guiana Shield. Antino is 20,000 hectares and has produced over 500,000 ounces of gold from surface and alluvial mining to date1. The Company will complete 45,000 metres of drilling in 2024 and is fully financed for up to 60,000 metres in 2025.
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
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 Padget
President, Chief Executive Officer, and Director
Contact Information
Katie MacKenzie, Vice President, Corporate Development
Tel: 306 537 8903 | katiem@fdrmetals.com
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings and the future or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect ", "is expected ", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management discussion and analysis. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
All material information on Founders Metals can be found at www.sedarplus.ca.
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FAQ
What are the main gold intersections reported in Founders Metals' (FDMIF) Da Vinci discovery?
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What is the current strike length of the Da Vinci discovery by FDMIF?
When will Founders Metals (FDMIF) release additional Da Vinci drilling results?
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