Founders Metals Expands Upper Antino; Hits 33.0 m of 3.50 g/t Gold
Founders Metals Expands Upper Antino; Hits
33.0 m of 3.50 g/t Gold
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2025) -
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 (Figure 1). The Company
reports high-grade gold mineralization at Upper Antino including
33.0 metres (m) of 3.50 grams per
tonne (g/t) gold (Au)
in drilling east of the Main Froyo Shear ("Froyo"). Additional drilling results extend
gold mineralization north 125 m, increasing total strike length of Froyo to ~1.7 kilometres (Figure 2).
Drilling Highlights
Growth-focused drilling expands high-grade gold mineralization in parallel structures (Figures 2 &
3):
33.0 m of 3.50 g/t Au
and
19.0 m of 0.84 g/t Au
(FR114)
13.0 m of 2.00 g/t Au
(FR082)
4.0 m of 5.92 g/t Au
(FR105)
Broad gold zones and 125 m northward extension:
41.9 m of 1.06 g/t Au
(FR099)
12.0 m of 1.51 g/t Au
and
22.5 m of 0.50 g/t Au
(FR101), extending gold mineralization
north in two parallel mineralized zones
Colin Padget, President & CEO, commented, "These results clearly demonstrate Upper Antino's growth
potential in multiple directions. Gold mineralization continues eastward over substantial intervals while
our step-out drilling has successfully expanded the northern boundary by 125 metres. The two broad
intervals in hole FR114 align well with our mineralization and structural models and suggest there is
potential to 'connect-the-dots' between Froyo and Donut. Additionally, while we have seen some
increases in assay turnaround times and have been focusing on certain corporate items, we anticipate
releasing additional results from our earlier-stage exploration targets along-side a comprehensive
overview in the coming weeks."
Drilling continues to expand Upper Antino gold mineralization and Figure 4 provides a 12-month
snapshot showing the growth of the mineralized footprint over that time. In this release, drill hole FR114
intersecting 33.0 m of 3.50 g/t Au, is one of several holes planned to target further eastward growth of
Froyo gold mineralization and determine if additional parallel zones link Froyo with the Donut target.
Drillhole FR101 intercepted two distinct zones of mineralization with the shallower 22.50 m interval of 0.5
g/t Au beginning at 27.60 m and potentially a new shear as the deeper 12 m of 1.51 g/t Au aligns well
with the previously reported 8.0 m of 2.08 g/t Au in hole FR095. These are encouraging intercepts
indicating additional northward potential and drill holes are planned further north to continue testing these
structures.
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 date
1
. The Company
is fully financed for up to 60,000 metres of drilling in 2025.
1
2022 Technical Report - Antino Project; Suriname, South America. K. Raffle, BSc, P. Geo & Rock Lefrançois, BSc, P.Geo.
Table 1:
Drill Hole Assay Results
Hole ID
From (m)
To (m)
Interval* (m)
Au (g/t)
FR114
201.00
206.00
5.00
0.47
and
220.00
253.00
33.00
3.50
and
361.00
380.00
19.00
0.84
FR109
NSA
FR108
24.00
30.00
6.00
0.22
FR106
NSA
FR105
372.00
376.00
4.00
5.92
and
439.00
451.00
12.00
0.28
FR101
27.60
50.10
22.50
0.50
and
306.00
318.00
12.00
1.51
FR100
0.00
8.10
8.10
0.31
and
110.00
112.00
2.00
2.41
FR099
29.10
71.00
41.90
1.06
and
212.00
224.00
12.00
0.38
FR098
67.00
78.00
11.00
0.32
FR097
84.00
95.00
11.00
0.86
and
133.00
155.00
22.00
0.26
FR096
0.00
14.10
14.10
0.35
and
206.00
212.00
6.00
1.09
FR094
99.00
111.00
12.00
0.79
and
217.00
223.00
6.00
0.61
FR085
340.00
356.00
16.00
0.46
and
287.00
288.00
1.00
13.70
FR084
92.10
96.60
4.50
0.72
and
152.00
157.00
5.00
2.22
FR083
NSA
FR082
14.10
20.10
6.00
0.47
and
297.00
314.00
17.00
0.50
and
396.00
409.00
13.00
2.00
EV003
142.00
146.00
4.00
3.23
EV002
166.00
171.00
5.00
1.69
EV001
NSA
Hole ID
From (m)
To (m)
Interval* (m)
Au (g/t)
*Intervals are down-hole depths. True widths of mineralization are estimated to be approximately 85% of the down-hole interval based on preliminary
results and observations. All are diamond drill holes.
Table 2: Drill Hole Location
Hole ID
Easting (m)
Northing (m)
Elevation (m)
Azimuth (°)
Dip (°)
Depth (m)
FR114
817305.40
401269.27
150.73
250.20
-55.10
578.03
FR109
816949.97
401985.23
174.91
260.00
-50.40
305.00
FR108
817340.15
402062.76
240.08
260.00
-49.60
171.60
FR106
817242.90
402026.11
243.03
259.80
-50.00
285.40
FR105
817348.54
401449.94
205.99
250.40
-50.00
551.00
FR101
817140.66
402020.24
222.27
259.80
-50.00
332.00
FR100
817181.50
401652.99
152.07
259.90
-60.00
302.10
FR099
817020.28
401616.99
159.05
260.40
-69.80
317.06
FR098
816803.12
401776.65
161.39
259.70
-50.10
259.98
FR097
816854.85
401713.07
160.50
259.80
-50.50
293.14
FR096
816927.39
401661.02
161.00
260.00
-50.00
314.04
FR094
817042.86
401766.69
160.99
260.00
-45.00
317.00
FR085
817235.12
401493.15
209.93
250.20
-49.80
472.96
FR084
817339.38
400826.82
208.16
240.00
-55.00
362.00
FR083
817163.75
401453.62
214.58
249.60
-49.80
371.01
FR082
817249.02
401415.71
206.01
250.10
-50.00
439.80
EV003
817458.20
401129.11
162.83
235.63
-56.10
259.66
EV002
817475.32
400916.25
199.46
229.91
-50.84
275.04
EV001
817397.23
401073.51
176.66
233.97
-52.20
278.12
The coordinate reference system is WGS 84, UTM zone 21N (EPSG 32621)
Figure 1: Antino Property Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/252894_dfc006ac9459eaf6_001full.jpg
Figure 2: Plan Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/252894_dfc006ac9459eaf6_002full.jpg
Figure 3: Cross-Section
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/252894_dfc006ac9459eaf6_003full.jpg
Figure 4: Upper Antino Gold Footprint - 12-month Snapshot
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/252894_dfc006ac9459eaf6_004full.jpg
Quality Assurance and Control
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 75%
passing 2.35 mm screen, riffle split (700 g) and pulverized to 85% passing 88 µm. Samples were
analyzed using a 50 g fire assay (50 g aliquot) with an Atomic Absorption (AA) finish. For samples that
return assay values over 5.0 grams per tonne (g/t), another cut was taken from the original pulp and fire
assayed with a gravimetric finish. Founders Metals inserts blanks and certified reference standards in
the sample sequence for quality control. External QA-QC checks are performed at ALS Global
Laboratories (Geochemistry Division) in Lima, Peru (an ISO/IEC 17025:2017 accredited facility).
A
secure chain of custody is maintained in transporting and storing of all samples. Drill intervals with visible
gold are assayed using metallic screening. Rock chip samples from outcrop/bedrock are selective by
nature and may not be representative of the mineralization hosted on the project.
Qualified Persons
The technical content of this news release has been reviewed and approved by Michael Dufresne,
M.Sc., P.Geol., P.Geo., an independent 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 |
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/252894