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About Founders Metals Inc.
Founders Metals Inc. (OTCQX: FDMIF) is a Canadian-based mineral exploration company dedicated to advancing gold exploration projects in the Guiana Shield region of Suriname, South America. The company's flagship Antino Gold Project spans an expansive 20,000 hectares in southeastern Suriname, a region renowned for its rich geological history and significant untapped mineral potential. The Antino Project has produced over 500,000 ounces of gold through surface and alluvial mining, underscoring its historical importance and future promise.
Core Business and Operations
Founders Metals focuses on the discovery, delineation, and development of high-grade gold deposits. The company employs a systematic exploration approach, integrating advanced geological mapping, geophysical surveys, and extensive drilling programs. Its business model centers on de-risking projects through resource expansion and metallurgical studies, thereby creating value for stakeholders and positioning the company for potential partnerships or acquisitions.
The Antino Gold Project
The Antino Gold Project is situated in the heart of the Guiana Shield, a geologically significant region known for hosting world-class gold deposits. The project encompasses multiple gold zones, including the Froyo, Lower Antino, Buese, and newly discovered areas such as Da Vinci and Van Gogh. These zones exhibit diverse mineralization styles, including high-grade shear-hosted gold and bulk-tonnage intrusion-hosted mineralization. Recent drilling campaigns have revealed significant gold intercepts, highlighting the project's potential to host a Tier 1 gold deposit.
Exploration Achievements
- Completion of over 45,000 meters of drilling in 2024, with plans for an additional 60,000 meters in 2025.
- Discovery of high-grade zones such as Froyo, which has a drill-defined strike length of 1.6 kilometers and remains open at depth and along strike.
- Successful metallurgical testing demonstrating gold recoveries exceeding 95%, supporting the project's economic viability.
- Strategic partnerships, including a significant investment from B2Gold Corp., validating the project's potential and providing financial support for exploration efforts.
Industry Position and Competitive Edge
Founders Metals operates in the junior mining and exploration sector, a high-risk, high-reward industry. The company differentiates itself through its focus on the underexplored Guiana Shield, a region with proven geological potential but limited modern exploration. Founders' technical expertise, as demonstrated by its adherence to NI 43-101 standards and rigorous quality assurance protocols, further strengthens its competitive position. The company's transparent communication of exploration results and strategic financial partnerships enhance its credibility and appeal to investors.
Technical Expertise and E-E-A-T
Founders Metals demonstrates a high level of expertise and authoritativeness through its detailed technical reporting, adherence to international standards, and robust exploration methodologies. The company's team includes experienced geologists and mining professionals who bring decades of industry experience. By maintaining a secure chain of custody for samples, employing certified laboratories, and integrating advanced exploration techniques, Founders ensures the reliability and accuracy of its findings.
Conclusion
Founders Metals Inc. is a dynamic exploration company with a strong focus on unlocking the potential of the Antino Gold Project. Through its commitment to systematic exploration, technical excellence, and strategic partnerships, the company is well-positioned to capitalize on the Guiana Shield's untapped mineral wealth. Founders Metals represents a compelling opportunity within the gold exploration sector, driven by its focus on high-grade discoveries and resource expansion.
Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) announces significant drill results from its 2024 program at the Antino Gold Project in Suriname. The company has extended the Froyo Gold Zone by 500 meters northward, connecting it with the historical Cupcake pit. Key highlights include:
- Drill hole 24GG015: 5.0 m of 14.09 g/t Au, 15.0 m of 3.51 g/t Au, and 7.0 m of 3.64 g/t Au
- Drill hole 24CU006: 7.0 m of 3.46 g/t Au
- Drill hole 24FR080: 14.0 m of 2.91 g/t Au
- Drill hole 24FR081: 24.0 m of 1.60 g/t Au
The Froyo zone's drill-defined footprint has nearly doubled in size. Founders plans a second phase of drilling at the Donut target in Q4 2024, following strong initial results including 19.0 m of 14.23 g/t Au and 45.0 m of 2.16 g/t Au.
Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) has exercised its right to acquire 51% of the Antino Gold Project in southeastern Suriname. The company has also amended and restated the option agreement with Nana Resources N.V., simplifying the earn-in process. Key changes include the removal of a 43-101 Resource requirement in Option 1 and a Preliminary Economic Assessment in Option 2. The company is actively drilling in three locations: Upper Antino, Buese, and Lower Antino. The updated agreement outlines three stages for increasing ownership:
1. Option 1 (51%): Cash payments of $1.65M USD, $6M USD in exploration expenses, and issuing 1,615,000 shares.
2. Option 2 (70%): Additional $1.5M USD, $10M USD in exploration, 95,000 shares, and a concept study.
3. Option 3 (75%): $10M USD in exploration and a bankable feasibility study.
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) announces promising drill core assay results from its 2024 drill program at the Antino Gold Project in Suriname. The highlights demonstrate successful step-out exploration drilling at the Froyo Gold Zone, including:
- 44.0 m of 2.05 g/t Au (24GG013), including 11.0 m of 5.73 g/t Au
- 35.0 m of 2.37 g/t Au (24FR073)
- 30.0 m of 2.77 g/t Au (24GG006)
- 3.0 m of 10.20 g/t Au (24FR076)
- 9.3 m of 3.39 g/t Au (23GG002)
The results show a significant extension of mineralization, with drill hole 24GG013 representing a 65 m step-out north along strike of the previously released drillhole 24FR074. The new mineralization provides additional confidence in the continuity of parallel zones at Froyo, which remain open along strike and at depth.
Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) announces promising drill core assay results from its 2024 drill program at the Antino Gold Project in Suriname, focusing on the Froyo Gold Zone. Significant highlights include:
- 46.0 m of 5.31 g/t Au (24FR074), including 10.0 m of 12.05 g/t Au and 4.0 m of 29.36 g/t Au
- 28.0 m of 3.35 g/t Au and 7.0 m of 13.52 g/t Au (24FR075)
The results expand previously identified gold mineralization 150 meters eastward of the main Froyo Shear, confirming multiple robust, gold-bearing structures. The company plans to continue exploration on these parallel zones to further define their extent.
Founders Metals has commenced its 2024 drill program at the Buese area of the Antino Gold Project in Suriname. The program plans to drill up to 7,000 meters, starting with an initial 3,000 meters. Using their newly acquired third diamond drill, they aim to test high-grade shear zones and bulk-tonnage targets. New geophysical surveys have identified previously unknown mineralized structures, confirmed by high-grade gold samples. The Buese area spans over 600 hectares, with gold mineralization mapped along a 2 km segment. Recent findings include channel samples with up to 113.0 g/t gold, indicating significant bulk-tonnage potential. The first phase of drilling focuses on these promising targets.
Founders Metals has released the results from ten new drill holes at its Antino Gold Project in Suriname. Key highlights include an extension of the Froyo Zone by 85 meters with significant gold intercepts: 24.0 meters at 5.06 g/t gold and 11.7 meters at 2.37 g/t gold. Additional discoveries in sub-parallel mineralized shears were also reported. The zone remains open in all directions, and ongoing drilling aims to further model the gold continuity. The company plans to introduce a third diamond drill soon and start drilling at Buese next week, showing strong potential for further gold discoveries in the region.
Founders Metals has reported positive preliminary metallurgical results from its Antino Gold Project in Suriname. The tests, conducted on samples from the Froyo Zone, showed gold recoveries ranging from 90.9% to 96.2%. The samples had head grades between 1.55 g/t and 20.22 g/t of gold. No issues like preg-robbing or deleterious elements were found. These results bolster confidence in the project's potential. Future testing will focus on optimizing grind size, reagent consumption, and leaching kinetics. CEO Colin Padget emphasized the promising nature of these findings, stating they align with the company's expectations based on observed mineralogy and geology.
Founders Metals announced significant drill core assay results from its 2024 drill program at the Antino Gold Project, southeastern Suriname. The phase one drilling at the Donut Zone revealed a new shear zone, termed the West Donut Shear, intercepted in four holes over 150 meters of strike. Key intersections include 8.0 meters of 6.64 g/t gold and 4.5 meters of 3.27 g/t gold. The Donut Zone exhibits both high-grade and broader, lower-grade gold mineralization, with key intervals such as 19.0 meters of 1.02 g/t gold and 6.0 meters of 3.10 g/t gold. These results indicate substantial gold continuity and potential for further exploration.
Founders Metals Inc. has acquired a third diamond drill rig for the Antino Gold Project in Suriname and completed a US$6 million work commitment milestone, entitling the company to acquire 51% of the project. President and CEO, Colin Padget, expressed enthusiasm for the progress in exploration and project development, highlighting the potential for bulk-tonnage mineralization at the Buese target.
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