Founders Metals Hits New Discovery in Third Lower Antino Drill Hole
Founders Metals (TSXV: FDR) (OTCQX: FDMIF) announces significant drill results from its Lower Antino maiden drill program in Suriname. The company reports 81.9 metres of 1.01 g/t gold, including 26.0 metres of 2.36 g/t gold within a broader >200m wide zone of anomalous gold. The discovery was made in unweathered rock approximately 100m down-dip of a historical auger gold anomaly.
Based on these preliminary results, Founders has expanded its Phase 1 Lower Antino drill program from 1,500m to 4,500m. The mineralization occurs within a sheared tonalitic intrusive containing up to 15% disseminated pyrite. Recent channel sampling revealed grades up to 21 g/t Au, with historical grab samples reported up to 340 g/t Au.
Founders Metals (TSXV: FDR) (OTCQX: FDMIF) annuncia risultati significativi dai carotaggi del suo programma di perforazione maiden a Lower Antino in Suriname. L'azienda riporta 81.9 metri di 1.01 g/t d'oro, inclusi 26.0 metri di 2.36 g/t d'oro all'interno di una zona più ampia di >200m di larghezza con anomalie d'oro. La scoperta è stata effettuata in roccia non alterata a circa 100m sotto un'anomalia storica di oro con trapanatura a elica.
In base a questi risultati preliminari, Founders ha ampliato il suo programma di perforazione di Fase 1 a Lower Antino da 1.500m a 4.500m. La mineralizzazione si verifica all'interno di un'intrusione tonalitica fratturata contenente fino al 15% di pirite disseminata. Recenti campionamenti a canale hanno rivelato gradi fino a 21 g/t Au, con campioni storici riportati fino a 340 g/t Au.
Founders Metals (TSXV: FDR) (OTCQX: FDMIF) anuncia resultados de perforación significativos de su programa de perforación inaugural en Lower Antino en Surinam. La compañía informa 81.9 metros de 1.01 g/t de oro, incluyendo 26.0 metros de 2.36 g/t de oro dentro de una zona más amplia de >200m de ancho con anomalías de oro. El descubrimiento se realizó en roca no alterada aproximadamente a 100m por debajo de una anomalía histórica de oro por perforación.
Basado en estos resultados preliminares, Founders ha ampliado su programa de perforación de Fase 1 en Lower Antino de 1,500m a 4,500m. La mineralización se presenta dentro de una intrusión tonalítica cortada que contiene hasta el 15% de pirita diseminada. Muestreos recientes en canal revelaron grados de hasta 21 g/t Au, con muestras históricas que reportaron hasta 340 g/t Au.
파운더스 메탈스(Founders Metals) (TSXV: FDR) (OTCQX: FDMIF)는 수리남 로워 안티노에서의 첫 번째 드릴 프로그램에서 중요한 드릴 결과를 발표했습니다. 회사는 1.01 g/t 금의 81.9 미터를 보고했으며, 이 중 2.36 g/t 금의 26.0 미터가 >200m 넓이의 금이 비정상적으로 나타나는 넓은 구역 내에 포함되어 있습니다. 이 발견은 역사적인 오거 금 이상의 약 100m 아래의 변형되지 않은 암석에서 이루어졌습니다.
이러한 초기 결과를 바탕으로, 파운더스는 로워 안티노의 1단계 드릴 프로그램을 1,500m에서 4,500m로 확대했습니다. 광물화는 최대 15%의 세립 자철광이 포함된 전단된 토노라이트 침입 내에서 발생합니다. 최근 채널 샘플링에서는 최대 21 g/t Au의 등급이 발견되었으며, 역사적인 샘플은 최대 340 g/t Au로 보고되었습니다.
Founders Metals (TSXV: FDR) (OTCQX: FDMIF) annonce des résultats de forage significatifs issus de son programme de forage inaugural Lower Antino au Suriname. La société rapporte 81,9 mètres à 1,01 g/t d'or, dont 26,0 mètres à 2,36 g/t d'or au sein d'une zone plus large de >200 m de large présentant des anomalies en or. La découverte a été faite dans une roche non altérée à environ 100 m sous une anomalie historique de forage à vis.
Sur la base de ces résultats préliminaires, Founders a étendu son programme de forage de Phase 1 à Lower Antino de 1 500 m à 4 500 m. La minéralisation se présente dans une intrusion tonalitique schisteuse contenant jusqu'à 15 % de pyrite disséminée. Des échantillonnages récents au canal ont révélé des teneurs allant jusqu'à 21 g/t Au, tandis que des échantillons historiques rapportent jusqu'à 340 g/t Au.
Founders Metals (TSXV: FDR) (OTCQX: FDMIF) gibt signifikante Bohrergebnisse aus seinem ersten Bohrprogramm bei Lower Antino in Suriname bekannt. Das Unternehmen berichtet von 81,9 Metern mit 1,01 g/t Gold, einschließlich 26,0 Metern mit 2,36 g/t Gold innerhalb einer breiteren >200 m breiten Zone mit anomalen Goldgehalten. Die Entdeckung wurde in unverwittertem Gestein etwa 100 m unterhalb einer historischen Bohrloch-Anomalie gemacht.
Basierend auf diesen ersten Ergebnissen hat Founders sein Phase-1-Bohrprogramm bei Lower Antino von 1.500 m auf 4.500 m ausgeweitet. Die Mineralisierung tritt innerhalb eines gescherten tonalitischen Intrusivs auf, das bis zu 15 % disseminierte Pyrit enthält. Kürzliche Kanalsampling ergab Gehalte von bis zu 21 g/t Au, während historische Gesteinsproben Ergebnisse von bis zu 340 g/t Au lieferten.
- Discovery of significant gold mineralization: 81.9m of 1.01 g/t Au including 26.0m of 2.36 g/t Au
- Expansion of drill program from 1,500m to 4,500m based on positive results
- Mineralized structure shows apparent continuity over >500m
- Preserved saprolite/oxide mineralization with no prior artisanal mining in the area
- True widths of mineralization currently unknown
- Second drill hole (24LA002) returned no significant assays (NSA)
Vancouver, British Columbia--(Newsfile Corp. - November 7, 2024) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") announces drill core assay results from its maiden drill program at Lower Antino on the Antino Gold Project ("Antino" or "Project") in southeastern Suriname. Founders reports 81.9 metres (m) of 1.01 grams per tonne (g/t) gold (Au) within a broader, >200 m wide zone of anomalous gold. The zone was intersected in unweathered rock approximately 100 m down-dip of a historical auger gold anomaly with assay values up to 49.30 g/t Au (Figure 3). With the success of these preliminary drilling results, the Company has increased the Phase 1 Lower Antino drill program from 1,500 m to 4,500 m and will release additional results as assays are received.
Highlights
- New discovery in third drill hole at Lower Antino; 24LA003 intersects 81.9 m of 1.01 g/t Au including 26.0 m of 2.36 g/t Au (Figure 3)
- Excellent grade distribution throughout interval (Image 1)
- 81.9 m within broader >200 m zone of anomalous gold
- Assays pending for several drill holes along strike with significant intervals of visually similar, sheared sulphide-rich rock demonstrating apparent continuity of the mineralized structure over >500 m
- 24LA003 coincident with gold trend in auger anomaly within a larger 1.5 km by 2.0 km gold anomaly (Figure 1)
- Mineralized interval and auger gold anomalies coincident with >2 km long linear chargeability high from in-progress IP geophysical surveys (Figure 4)
- Preserved saprolite/oxide mineralization with no artisanal mining in the area drilled
"With this new discovery at Lower Antino, we have yet another example of the potential scale that Antino represents," stated Founders' President & CEO, Colin Padget. "After intersecting the gold mineralization in drill hole 3, we were very excited to see the results and quickly modified the drill plan to follow-up. We continue to credit our rapid assay turnaround times for our ability to move quickly on a discovery like this and look forward to communicating further results as they become available."
Geology Discussion
Lower Antino is characterized by a 1.5 km wide and 2.0 km long gold anomaly with historical auger samples grading up to 49.30 g/t Au. Founders' Phase 1 drilling primarily focuses on testing high-grade auger anomalies, which led to intersecting 81.9 m of 1.01 g/t Au, including 26.0 m of 2.36 g/t Au (24LA003) within a sheared tonalitic intrusive containing up to
In addition to bulk tonnage style mineralization, field crews have detailed high-grade vein sets with grades in recent channel sampling of up to 21 g/t Au, and historical grab samples are reported up to 340 g/t Au, suggesting there is a potential high-grade component within the broader Lower Antino gold system.
Figure 1: Property Scale Plan Map
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Figure 2: Lower Antino Plan Map
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Figure 3: Lower Antino Section Looking North
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Figure 4: Lower Antino Preliminary Chargeability and Resistivity
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Image 1: Core Photos for 24LA003 Interval 106.0 m - 132.0 m with Gold Assays Labelled
Interval demonstrates the excellent grade distribution
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Image 2: 24LA003 Mineralization in Core
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Table 1: Assay Results
| Hole ID | From (m) | To (m) | Core Length* (m) | Au (g/t) |
| 24LA003 | 74.10 | 156.00 | 81.90 | 1.01 |
| including | 106.00 | 132.00 | 26.00 | 2.36 |
| 24LA002 | NSA | |||
| 24LA001 | 0.00 | 26.10 | 26.10 | 0.36 |
| and | 238.00 | 245.00 | 7.00 | 0.34 |
*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) |
| 24LA003 | 821648.0 | 401748.5 | 152.7 | 271.4 | -44.7 | 272.0 |
| 24LA002 | 822004.6 | 401879.6 | 137.1 | 236.7 | -51.8 | 206.0 |
| 24LA001 | 822004.6 | 401872.8 | 138.3 | 89.1 | -49.9 | 275.0 |
*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 assay results from Founders Metals (FDMIF) Lower Antino drill program?
How has Founders Metals (FDMIF) modified its Phase 1 Lower Antino drill program?
What are the highest historical gold grades reported at Lower Antino for Founders Metals (FDMIF)?
