Founders Metals Increases Confidence in Regional Exploration Targets at Antino
Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) has provided an update on regional exploration targets at the Antino Gold Project in Suriname. The company plans to expand its drill program, starting with 1,500 meters at Lower Antino in mid-September. Key highlights include:
1. Lower Antino: High-priority target with 25% of grab samples grading >0.3 g/t Au and up to 20.4 g/t Au. Historical results show auger samples up to 49.3 g/t Au and grab samples of 144 g/t Au and 340 g/t Au.
2. Lawa: New prospect with three major gold-mineralized trends over 2.7 km strike length.
3. Southern Froyo Extension: Recent grab sample of 57.4 g/t Au collected 1,500 m southeast of Froyo, indicating potential for additional high-grade gold mineralization.
The company's exploration work continues to highlight the scale of the gold system at Antino and its potential for new discoveries.
Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) ha fornito un aggiornamento sui target di esplorazione regionali presso il Progetto Antino Gold in Suriname. L'azienda prevede di espandere il suo programma di perforazione, iniziando con 1.500 metri a Lower Antino a metà settembre. I punti salienti includono:
1. Lower Antino: Target ad alta priorità con il 25% dei campioni prelevati che mostrano un grado >0,3 g/t Au e fino a 20,4 g/t Au. I risultati storici mostrano campioni di auger fino a 49,3 g/t Au e campioni prelevati di 144 g/t Au e 340 g/t Au.
2. Lawa: Nuovo prospetto con tre principali trend mineralizzati in oro su una lunghezza di strike di 2,7 km.
3. Southern Froyo Extension: Recente campione prelevato di 57,4 g/t Au raccolto a 1.500 m a sud-est di Froyo, indicando potenziale per ulteriore mineralizzazione ad alta qualità di oro.
Il lavoro di esplorazione dell'azienda continua a mettere in evidenza l'estensione del sistema aurifero ad Antino e il suo potenziale per nuove scoperte.
Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) ha proporcionado una actualización sobre los objetivos de exploración regional en el Proyecto Antino Gold en Surinam. La compañía planea expandir su programa de perforación, comenzando con 1,500 metros en Lower Antino a mediados de septiembre. Los aspectos más destacados incluyen:
1. Lower Antino: Objetivo de alta prioridad con el 25% de las muestras tomadas que tienen un grado >0.3 g/t Au y hasta 20.4 g/t Au. Los resultados históricos muestran muestras de auger de hasta 49.3 g/t Au y muestras tomadas de 144 g/t Au y 340 g/t Au.
2. Lawa: Nuevo prospecto con tres principales tendencias mineralizadas en oro a lo largo de 2.7 km de longitud.
3. Southern Froyo Extension: Reciente muestra tomada de 57.4 g/t Au recolectada a 1,500 m al sureste de Froyo, indicando potencial para una mineralización de oro de alta calidad adicional.
El trabajo de exploración de la empresa sigue destacando la magnitud del sistema aurífero en Antino y su potencial para nuevos descubrimientos.
파운더스 메탈즈 주식회사 (TSXV: FDR) (OTCQX: FDMIF)는 수리남의 안티노 골드 프로젝트에 대한 지역 탐사 목표 업데이트를 제공했습니다. 회사는 9월 중순에 Lower Antino에서 1,500미터로 시작하여 탐사 프로그램을 확대할 계획입니다. 주요 내용은 다음과 같습니다:
1. Lower Antino: 25%의 표본이 >0.3 g/t Au의 등급을 보이고 최대 20.4 g/t Au를 기록한 고우선 목표입니다. 역사적 결과에서 시추 샘플이 최대 49.3 g/t Au, 채취 샘플에서 144 g/t Au 및 340 g/t Au로 나왔습니다.
2. Lawa: 길이 2.7 km에 걸쳐 세 가지 주요 금 광물이 있는 새로운 탐사 지역입니다.
3. Southern Froyo Extension: Froyo에서 1,500미터 남동쪽에서 수집된 57.4 g/t Au의 최근 샘플로, 추가 고품질 금 광물화의 가능성을 나타냅니다.
회사의 탐사 작업은 안티노의 금 시스템 규모와 새로운 발견 가능성을 계속 강조하고 있습니다.
Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) a fourni une mise à jour sur les cibles d'exploration régionales du Projet Antino Gold au Suriname. La société prévoit d'élargir son programme de forage, en commençant par 1 500 mètres à Lower Antino à la mi-septembre. Les points clés comprennent :
1. Lower Antino : Cible de haute priorité avec 25 % des échantillons prélevés affichant une teneur >0,3 g/t Au et jusqu'à 20,4 g/t Au. Les résultats historiques montrent des échantillons de tarière allant jusqu'à 49,3 g/t Au et des échantillons prélevés de 144 g/t Au et 340 g/t Au.
2. Lawa : Nouveau site avec trois grandes tendances minéralisées en or sur une longueur de 2,7 km.
3. Southern Froyo Extension : Échantillon récent prélevé de 57,4 g/t Au recueilli à 1 500 m au sud-est de Froyo, indiquant un potentiel pour une minéralisation supplémentaire en or de haute qualité.
Les travaux d'exploration de l'entreprise continuent de mettre en évidence l'ampleur du système aurifère à Antino et son potentiel pour de nouvelles découvertes.
Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) hat ein Update zu den regionalen Explorationszielen im Antino Gold Projekt in Surinam bereitgestellt. Das Unternehmen plant, sein Bohrprogramm zu erweitern und beginnt Mitte September mit 1.500 Metern in Lower Antino. Zu den wichtigsten Punkten gehören:
1. Lower Antino: Hochpriorisiertes Ziel mit 25% der Proben, die >0,3 g/t Au und bis zu 20,4 g/t Au aufweisen. Historische Ergebnisse zeigen Bohrproben von bis zu 49,3 g/t Au sowie Grabproben von 144 g/t Au und 340 g/t Au.
2. Lawa: Neues Vorkommen mit drei großen goldmineralisierten Trends über eine Streckenlänge von 2,7 km.
3. Southern Froyo Extension: Jüngste Grabprobe von 57,4 g/t Au, die 1.500 m südöstlich von Froyo entnommen wurde, deutet auf das Potenzial für zusätzliche hochwertig goldmineralisierte Bereiche hin.
Die Explorationsarbeiten des Unternehmens heben weiterhin das Ausmaß des Goldsystems in Antino und sein Potenzial für neue Entdeckungen hervor.
- Expansion of drill program with 1,500 meters planned at Lower Antino
- High-grade gold samples at Lower Antino, including historical results up to 340 g/t Au
- Discovery of new Lawa prospect with 2.7 km strike length and three significant trends
- High-grade grab sample of 57.4 g/t Au at Southern Froyo Extension, indicating potential for additional mineralization
- Insider share sales for taxation purposes, potentially impacting investor sentiment
Vancouver, British Columbia--(Newsfile Corp. - August 26, 2024) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") provides a corporate update and outlines regional exploration targets at the Antino Gold Project ("Antino" or "Project") in southeastern Suriname. The Company's surficial team is successfully developing key targets for future surface exploration and drilling, including Lower Antino, Lawa, and the Southern Froyo Extension. Founders intends to expand its drill program to include an initial 1,500 metres (m) at Lower Antino, commencing mid-September.
Founders' Management and Board of Directors ("Insiders") recently sold Company shares for taxation purposes connected with the exercise of Restricted Share Units and resulting tax implications due to the Company's stock price appreciation over the last 18 months. Founders' management organized a block trade with an existing institutional shareholder at market value ensuring no undue pressure on the stock. The related insider transactions will be filed on SEDI later today.
Highlights
Lower Antino
- Lower Antino is a high-priority target with over
25% of Founders grab samples grading >0.3 grams per tonne (g/t) gold (Au) and up to 20.4 g/t Au - Historical results include auger samples with up to 49.3 g/t Au and very high-grade grab sample results, including two samples collected from shear-zone hosted quartz veins grading 144 g/t Au and 340 g/t Au
- Auger sampling reveals new >2.5 kilometre (km) gold trend hosting similar structures and geological features as the Froyo Gold Trend in Upper Antino
- Ground preparation underway for Lower Antino drilling to start in mid-September
Lawa
- New prospect identified by Founders in May 2024
- Completely unexplored area with three major gold-mineralized trends including two large intrusions along separate structures over a combined 2.7 km strike length
Southern Froyo Extension
- Recent grab sample of 57.4 g/t Au collected 1,500 m southeast of Froyo indicating the potential for repeat zones of high-grade gold mineralization similar to Froyo along the broader +10 km Antino gold trend that extends from Upper Antino to Buese
"Our regional exploration work continues to highlight the scale of the gold system at Antino and underscores the property's potential for additional new discoveries," commented President and CEO, Colin Padget. "Our surficial team is making significant progress toward refining existing targets to drill-ready status and identifying new areas of interest for on-the-ground follow-up. We now have a considerable pipeline of high-quality, well-defined targets and plans are in place to increase the number of active drills over the coming months."
Figure 1: Exploration Targets and Auger Sample Locations
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Figure 2: Lower Antino Channel and Auger Samples
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Image 1: Lawa North
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Image 2: Lawa South
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Geology Discussion
Lower Antino is a high-priority drill target. Historical auger sampling identified an approximately 1.5 km wide and 2.0 km long gold anomaly with samples grading up to 49.3 g/t Au. The gold anomaly overlaps a large fold immediately south of the east-west Antino Creek Fault. The fold is easily identified in regional airborne magnetics data and has a distinct topographic feature in LiDAR. Founders' geologists recently mapped multiple gold-bearing shears uncovered by artisanal mining at Lower Antino with grab sample grades as high as 20.4 g/t Au. The shear-hosted mineralization occurs in, and is associated with, up to 2-metre-wide quartz and quartz-carbonate northeast veins with similar alteration assemblages, textures, and host-rocks as Upper Antino.
The most recent Founders discovery is the Lawa prospect. This new area has a 2.7 km strike length and demonstrates three significant trends. Lawa includes two, large volume intrusions along separate, distinct mineralizing structures. These intrusions exhibit a moderate to high density of quartz veining, variable pyritization, and strong sericite alteration. In addition to the intrusive suite in the northern extent of Lawa, Founders also uncovered a high-grade vein set in the southern extent of the area, with rock assays grading up to 6.7 g/t Au. Further exploration, including up to 1,500 auger samples, 2 km of trench sampling, and 250 rock samples, is planned for fall of 2024 to fully assess the potential and prepare for drilling in H1 2025.
Utilizing both LiDAR and air magnetics, the surficial team has identified zones that share similarities with the main Froyo Gold Zone. Founders recently received assay results from a surface grab sample with 57.4 g/t Au between Froyo and Buese, representing the possibility for repeated zones of high-grade gold mineralization within the broader 10 km gold trend at Antino.
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 drilled 10,000 metres in 2023 and is fully financed for drilling in 2024.
12022 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
1-306-537-8903
katiem@fdrmetals.com
Nick Stajduhar, Director
nicks@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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221100
FAQ
What are the main exploration targets for Founders Metals at the Antino Gold Project?
When will Founders Metals begin drilling at Lower Antino?
What are the significant gold grades reported in the Lower Antino target?
What is the extent of the gold mineralization trend at Lower Antino?
