Founders Metals Hits 23.0 metres of 5.00 g/t Gold at Froyo & Extends Zone by 180 metres
Founders Metals Inc. (TSXV: FDR) reports significant drill results from its Antino Gold Project in Suriname, highlighting 23.0 metres of 5.00 g/t gold at the Froyo Gold Zone. The company has extended gold mineralization by 180 meters and completed over 40,000 meters of drilling this year.
Key drilling highlights include broad, high-grade gold mineralization continuing north in Froyo with 4.0m of 15.34 g/t Au and 10.0m of 4.23 g/t Au. The Froyo zone now has a drill-defined strike length of ~1.6 km and a ~300m wide mineralized footprint, with gold mineralization extending to 275m depth and remaining open in all directions.
The company also announced new exploration targets at Lawa North and South, extending 13 km, and the Da Vinci target situated 4 km southeast of Buese, with initial drilling results expected by year-end.
Founders Metals Inc. (TSXV: FDR) riporta risultati significativi dei fori di perforazione dal suo Antino Gold Project in Suriname, evidenziando 23,0 metri di 5,00 g/t di oro nella Froyo Gold Zone. L'azienda ha esteso la mineralizzazione aurifera di 180 metri e ha completato oltre 40.000 metri di perforazione quest'anno.
I principali punti salienti delle perforazioni includono una vasta mineralizzazione di oro ad alta qualità che continua a nord nella Froyo con 4,0 m di 15,34 g/t Au e 10,0 m di 4,23 g/t Au. La zona Froyo ha ora una lunghezza definita di perforazione di circa 1,6 km e una larghezza mineralizzata di circa 300 m, con mineralizzazione che si estende fino a una profondità di 275 m e rimane aperta in tutte le direzioni.
L'azienda ha anche annunciato nuovi obiettivi di esplorazione a Lawa Nord e Sud, per un’estensione di 13 km, e il target Da Vinci situato a 4 km a sud-est di Buese, con i risultati iniziali delle perforazioni attesi entro la fine dell’anno.
Founders Metals Inc. (TSXV: FDR) informa sobre resultados significativos de perforación de su Antino Gold Project en Surinam, destacando 23,0 metros de 5,00 g/t de oro en la Froyo Gold Zone. La empresa ha extendido la mineralización de oro por 180 metros y ha completado más de 40,000 metros de perforación este año.
Los aspectos destacados clave de la perforación incluyen una amplia mineralización de oro de alta calidad que continúa hacia el norte en Froyo con 4,0 m de 15,34 g/t Au y 10,0 m de 4,23 g/t Au. La zona Froyo ahora tiene una longitud de perforación definida de aproximadamente 1,6 km y una huella mineralizada de aproximadamente 300 m de ancho, con mineralización de oro que se extiende hasta 275 m de profundidad y permaneciendo abierta en todas las direcciones.
La empresa también anunció nuevos objetivos de exploración en Lawa Norte y Sur, que se extienden por 13 km, y el objetivo Da Vinci situado a 4 km al sureste de Buese, con los resultados de perforación iniciales esperados para fin de año.
Founders Metals Inc. (TSXV: FDR)는 수리남의 Antino Gold Project에서 중요한 시추 결과를 보고하며, 23.0미터의 5.00 g/t 금이 Froyo Gold Zone에서 발견되었다고 강조했습니다. 회사는 금 광체를 180미터 연장했으며 올해 40,000미터 이상의 시추를 완료했습니다.
주요 시추 하이라이트에는 Froyo에서 북쪽으로 이어지는 넓고 고품질의 금 광체가 포함되어 있으며, 4.0m에서 15.34 g/t Au와 10.0m에서 4.23 g/t Au의 결과가 나타났습니다. Froyo 구역은 현재 약 1.6km의 시추 정의 스트라이크 길이와 약 300m 너비의 광물화된 발자국을 가지고 있으며, 금 광체는 275미터 깊이까지 이어지며 모든 방향에서 계속 열려 있습니다.
회사 또한 Lawa 북쪽과 남쪽에서 새로운 탐사 목표를 발표했으며, 이는 13km에 걸쳐 있으며, Buese에서 남동쪽으로 4km 떨어진 Da Vinci 목표와 함께 초기 시추 결과가 연말까지 예상됩니다.
Founders Metals Inc. (TSXV: FDR) rapporte des résultats de forage significatifs de son projet aurifère Antino au Suriname, mettant en avant 23,0 mètres de 5,00 g/t d'or dans la Froyo Gold Zone. L'entreprise a prolongé la minéralisation aurifère de 180 mètres et a complété plus de 40 000 mètres de forage cette année.
Les points forts des forages incluent une large minéralisation d'or de haute teneur qui continue vers le nord dans Froyo, avec 4,0 m de 15,34 g/t Au et 10,0 m de 4,23 g/t Au. La zone Froyo a maintenant une longueur de forage définie d'environ 1,6 km et une empreinte minéralisée d'environ 300 m de large, avec une minéralisation d'or s'étendant jusqu'à 275 m de profondeur et restant ouverte dans toutes les directions.
L'entreprise a également annoncé de nouveaux objectifs d'exploration à Lawa Nord et Sud, s'étendant sur 13 km, et la cible Da Vinci située à 4 km au sud-est de Buese, avec des résultats de forage initiaux attendus d'ici la fin de l'année.
Founders Metals Inc. (TSXV: FDR) berichtet über signifikante Bohrergebnisse aus seinem Antino Gold Project in Surinam und hebt 23,0 Meter mit 5,00 g/t Gold in der Froyo Gold Zone hervor. Das Unternehmen hat die Goldmineralisierung um 180 Meter erweitert und in diesem Jahr über 40.000 Meter gebohrt.
Wichtige Bohrhighlights umfassen eine breite Hochgradgoldmineralisierung, die nach Norden in Froyo weitergeht, mit 4,0 m von 15,34 g/t Au und 10,0 m von 4,23 g/t Au. Die Froyo-Zone hat nun eine definierte Bohrstrike-Länge von ca. 1,6 km und eine ca. 300 m breite mineralisierte Fläche, wobei die Goldmineralisierung bis zu einer Tiefe von 275 m reicht und in alle Richtungen offen bleibt.
Das Unternehmen kündigte außerdem neue Explorationsziele in Lawa Nord und Süd an, die sich über 13 km erstrecken, sowie das Ziel Da Vinci, das sich 4 km südöstlich von Buese befindet, mit ersten Bohrergebnissen, die bis zum Jahresende erwartet werden.
- High-grade gold mineralization with 23.0m of 5.00 g/t Au
- Froyo zone extended by 180 meters
- 22 intervals exceeding 100 gram-metre per tonne at Upper Antino
- Successful completion of over 40,000m drilling in 2024
- Discovery of new gold-bearing zones at Lawa and Da Vinci targets
- None.
Vancouver, British Columbia--(Newsfile Corp. - December 5, 2024) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") announces drill core assay results from the Antino Gold Project ("Antino" or "Project") in southeastern Suriname. The Company reports high-grade gold mineralization including 23.0 metres (m) of 5.00 grams per tonne (g/t) gold (Au) at the Froyo Gold Zone ("Froyo" or "Zone"). Additional drilling extends gold mineralization at Froyo by 180 m. The Company has completed more than 40,000 m this year and expects to meet its 45,000 m goal by the end of the year.
Drilling Highlights
- Broad, high-grade gold mineralization continues north in Froyo with 23.0 m of 5.00 g/t Au (24FR090) and 4.0 m of 15.34 g/t Au (24FR092)
- 10.0 m of 4.23 g/t Au (24FR086)
- Froyo extended along strike by 180 m, intersecting 8.0 m of 2.08 g/t Au (24FR095) in previously untested area to the north of known gold mineralization
- Excellent continuity of mineralized structures along strike into the main Upper Antino area fold closure
- Compelling evidence for repeating high-grade shoots with depth
Exploration Highlights
- Gold mineralized strike length at the Lawa North and Lawa South targets extended to 13 km based on recent mapping and surface sampling program (Figure 1)
- Anomalous gold (>0.1 g/t Au) in
33% of 124 Lawa area grab samples including 11 samples with gold concentrations from 1.00 g/t Au to 14.42 g/t Au
- Anomalous gold (>0.1 g/t Au) in
- New Da Vinci target situated 4 km southeast of Buese (Figure 1)
- Target identified through recognition of several overlapping geologic features similar to Upper Antino's Froyo Zone mineralization
- True discovery potential - no modern systematic exploration work or historical drilling
- Drilling underway with initial three-hole plan expanded to twelve holes
- Results from initial drilling expected before the end of this year
- The Da Vinci target extends Antino gold trend by more than 4 km southeast (Figure 1)
Founders' President and CEO, Colin Padget commented, "Drill hole 24FR090 represents the 22nd interval at Upper Antino exceeding 100 gram-metre per tonne**, reaffirming the deposit's exceptional grade profile. The continuous growth at Upper Antino over the last 12 months has been a key de-risking step for the project, and when combined with the numerous new discoveries and impressive gold intercepts at Lower Antino and Buese, emphasizes Antino's potential to develop into a Tier 1 asset. Moving forward into 2025, we are continuing with our strategy of unlocking value through aggressive exploration, new discoveries, and the continued expansion of known gold mineralization at Antino. On this note, we are particularly excited about the new discovery potential that the Lawa and Da Vinci target areas represent."
Froyo Discussion
Drillholes 24FR090 and 24FR092 expand broad, high-grade gold mineralization northward at Froyo (Figure 2). These results continue to validate the exploration strategy of focusing on the sheared limbs of a regional-scale fold at Upper Antino, where a series parallel gold-bearing shear zones have been identified. Froyo now has a drill-defined strike length of ~1.6 km and an ~300 m wide mineralized footprint. To date drilling extends gold mineralization to a depth of 275 m and the system remains open in all directions. The deepest drilling at Froyo has delivered some of the broadest, highest-grade intercepts to date.
There is evidence of a repeating series of high-grade shoots within the broader mineralizing system. Analogous gold deposits in similar Guiana Shield stratigraphy host similar deep-rooted structures with gold mineralization extending to over 1000 m depth. Current drilling efforts at Upper Antino are focused on along-strike expansion of shallow, high-grade gold mineralization to the north and south. Future work will include systematic step-out drilling to target additional opportunity for further growth at depth. Figure 3 illustrates drilling progress and expanding gold mineralization along and across strike at Upper Antino over the last 18 months, including the identification of high-grade subparallel hanging wall shear zones. Additionally, a new high-grade shear zone-hosted discovery was made at Donut more than 900 m from Founders' earliest work on Froyo.
Lawa North and Lawa South Targets
The road-accessible Lawa exploration targets are ~12 km east of Upper Antino (Figure 1). Founders' geologists first visited the area to investigate recent artisanal mining activity and quickly identified two NNW-trending shear zones coincident with km-scale tonalitic intrusive bodies. Recent dry-season river bedrock mapping along the property's northeastern margin identified multiple gold-bearing shear zones up to 75 m wide that connect with the structure at Lawa North, giving the target an 8 km long mineralized strike length. The Lawa South shear zone extends over 5 km. Early work indicates property-scale, gold-bearing structures with similar tonalitic intrusive-hosted gold mineralization as the Donut, Lower Antino, and Buese targets. Ongoing surface exploration includes >1 km of trenching, 550+ auger samples, channel sampling, and geological mapping. An initial drill program for Lawa is anticipated for H1 2025.
Da Vinci Target
The Da Vinci target, identified by onsite technical staff and prioritized due to its geological similarities to the gold-rich Froyo area, underwent initial mapping before Founders redirected a drill from nearby Buese for exploratory drilling (Figure 1). The promising early visual results at Da Vinci have led to the decision to keep the drill there through the year's end. Meanwhile, Buese remains a focus-Founders will deploy its fourth diamond drill there in January to continue advancing the second phase of drilling. The Company anticipates releasing the pending Da Vinci drill results by the end of 2024.
Figure 1: Property Scale Plan Map
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Figure 2: Upper Antino Plan Map
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Figure 3: Upper Antino Timelapse from December 2023 to December 2024
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Table 1: High-grade Intervals at Upper Antino >100 gram-metre per tonne**
| Hole ID | From (m) | To (m) | Core Length* (m) | Au (g/t) | Gram-Metre per Tonne (gm/t)** |
| 24FR090 | 254.00 | 277.00 | 23.00 | 5.00 | 114.70 |
| 24FR074 | 62.00 | 108.00 | 46.00 | 5.31 | 244.34 |
| 24FR067 | 280.00 | 304.00 | 24.00 | 5.06 | 121.55 |
| 24FR054 | 150.00 | 163.00 | 13.00 | 11.02 | 143.30 |
| 24FR049 | 44.00 | 70.00 | 26.00 | 5.52 | 143.52 |
| 24FR048 | 63.00 | 78.00 | 15.00 | 8.18 | 122.70 |
| 23FR044 | 56.00 | 82.00 | 26.00 | 4.86 | 126.36 |
| 23FR041 | 52.70 | 67.20 | 14.50 | 16.26 | 235.77 |
| 23FR038 | 77.00 | 90.00 | 13.00 | 14.03 | 182.39 |
| 23FR036 | 134.00 | 144.00 | 10.00 | 24.46 | 244.60 |
| 23FR030 | 182.00 | 208.00 | 26.00 | 6.35 | 165.10 |
| 23FR026 | 29.00 | 32.00 | 3.00 | 99.51 | 298.53 |
| 23FR025 | 222.00 | 267.79 | 45.79 | 4.06 | 185.91 |
| 23FR014 | 63.50 | 79.00 | 15.50 | 30.72 | 476.16 |
| 23FR011 | 76.00 | 89.00 | 13.00 | 8.75 | 113.75 |
| 23FR009 | 83.00 | 92.00 | 9.00 | 11.10 | 99.90 |
| 23FR007 | 47.50 | 54.95 | 7.45 | 15.22 | 113.39 |
| 23FR003 | 55.00 | 67.00 | 12.00 | 19.22 | 230.64 |
| 24GG004 | 149.00 | 187.00 | 38.00 | 10.90 | 414.02 |
| 23GG001 | 125.00 | 134.00 | 9.00 | 22.84 | 205.56 |
| 23GG001 | 152.00 | 158.00 | 6.00 | 94.69 | 568.14 |
| 24DO007 | 196.00 | 215.00 | 19.00 | 14.23 | 270.37 |
*Intervals are estimated to represent
**Gram-metre per tonne calculated as core length in metres multiplied by g/t Au value
Table 2: Assay Results
| Hole ID | From (m) | To (m) | Core Length* (m) | Au (g/t) |
| 24FR095 | 117.00 | 125.00 | 8.00 | 2.08 |
| 24FR093 | 33.60 | 50.10 | 16.50 | 2.83 |
| 24FR092 | 0.00 | 14.10 | 14.10 | 0.31 |
| and | 301.00 | 305.00 | 4.00 | 15.34 |
| 24FR091 | 71.00 | 74.00 | 3.00 | 1.27 |
| 24FR090 | 101.00 | 105.00 | 4.00 | 3.43 |
| and | 254.00 | 277.00 | 23.00 | 5.00 |
| 24FR089 | 303.00 | 308.00 | 5.00 | 2.21 |
| 24FR088 | 258.00 | 269.00 | 11.00 | 2.85 |
| and | 304.00 | 306.00 | 2.00 | 3.81 |
| and | 354.00 | 357.00 | 3.00 | 2.67 |
| and | 378.00 | 380.00 | 2.00 | 23.15 |
| 24FR087 | 248.00 | 256.00 | 8.00 | 1.04 |
| and | 363.00 | 375.00 | 12.00 | 2.34 |
| 24FR086 | 0.00 | 8.10 | 8.10 | 0.45 |
| and | 183.00 | 193.00 | 10.00 | 4.23 |
| and | 382.00 | 386.00 | 4.00 | 1.31 |
| 24EC003 | 48.60 | 56.10 | 7.50 | 4.87 |
| 24EC002 | 183.00 | 186.00 | 3.00 | 1.09 |
| 24EC001 | 166.00 | 174.00 | 8.00 | 0.39 |
*Intervals are estimated to represent
Table 3: Drill Hole Locations
| Hole ID | Easting* (m) | Northing* (m) | Elevation (m) | Azimuth (°) | Dip (°) | Depth (m) |
| 24FR095 | 817065.1 | 401904.2 | 206.3 | 260 | -50 | 401.1 |
| 24FR093 | 817018.0 | 401620.0 | 156.8 | 260.3 | -45 | 263.1 |
| 24FR092 | 816906.0 | 401550.0 | 177.8 | 79.6 | -55.4 | 329.0 |
| 24FR091 | 817076.3 | 401516.0 | 161.4 | 250 | -45 | 221.1 |
| 24FR090 | 817076.3 | 401516.0 | 164.4 | 250 | -69.7 | 293.0 |
| 24FR089 | 817237.5 | 401231.5 | 149.3 | 255 | -45 | 377.0 |
| 24FR088 | 817306.6 | 401259.2 | 150.0 | 255 | -45 | 419.1 |
| 24FR087 | 817268.5 | 401354.5 | 187.7 | 250 | -50 | 452.1 |
| 24FR086 | 817199.5 | 401321.5 | 181.5 | 250 | -50 | 401.2 |
| 24EC003 | 816810.0 | 401338.9 | 241.6 | 308.6 | -50.3 | 289.9 |
| 24EC002 | 816811.7 | 401337.4 | 241.4 | 259.0 | -58.2 | 337.8 |
| 24EC001 | 816904.5 | 401374.5 | 231.8 | 260.9 | -57.1 | 301.1 |
*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 latest gold drilling results for Founders Metals (FDMIF) at Froyo?
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What new exploration targets has Founders Metals (FDMIF) identified in December 2024?
