Founders Metals Hits 27.0 m of 20.38 g/t Gold in First Step-Out Drilling on New West Zone at Antino
Founders Metals Hits 27.0 m of 20.38 g/t Gold
in First Step-Out Drilling on New West Zone at
Antino
Vancouver, British Columbia--(Newsfile Corp. - September 9, 2026) -
Founders Metals Inc.
(TSXV:
FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") announces drill results from the
Upper Antino-West Zone ("West Zone") at its Antino Gold Project ("Antino" or the "Project") in
southeastern Suriname (Figure 1). Hole FR251 returned
27.0 metres (m) of 20.38 grams per tonne
(g/t) gold (Au)
from 100.0 m, including 10.0 m of 43.26 g/t Au. The West Zone is located 1.2 kilometres
(km) west of the established Froyo Zone and was first intersected by discovery hole FR217,
approximately 50 m to the north, which returned
53.1 m of 1.21 g/t Au
from surface (
announced June 23,
2026
; Figure 2).
Colin Padget, President & CEO, commented
, "This ground has been part of Founders' land package
for less than a year. Going from adding it to the project, to drilling 27.0 metres of 20.38 g/t gold in FR251,
one of the best single intercepts in Antino's history, is a clear demonstration of the exploration potential
of this district. That result came from a disciplined process: airborne geophysics, auger sampling and
systematic follow-up of the resulting anomalies, the same approach we are applying across the rest of
Antino."
West Zone Highlights
High-grade gold at West Zone:
27.0 m of 20.38 g/t Au from 100.0 m in hole FR251, including
10.0 m of 43.26 g/t Au from 100.0 m (Figure 3).
Additional gold-bearing shear zone intersected to the west of FR251:
14.0 m of 1.63 g/t Au
from 119.0 m, including 2.0 m of 9.86 g/t Au (FR250).
Gold mineralization style similar to the Upper Antino-Froyo Zone:
gold is associated with
the same alteration, veining, and structural style that hosts the high-grade mineralization in the
Froyo Zone, including the recently announced 28.0 m of 14.27 g/t Au in drill hole FR249 (See
August 6, 2026
news release).
The West Zone is a priority target for the remainder of the 2026 drill program.
Five holes
were completed in this follow-up program; drilling is ongoing.
The West Zone lies 1.2 km west of the Froyo Zone, in ground that had not been drilled before May 2026.
Discovery hole FR217 returned 53.1 m of 1.21 g/t Au, hosted in steeply dipping, northwest-trending
structures similar in nature to the geological setting at Froyo. Today's results cover five follow-up
diamond drill holes (FR240, FR242, FR243, FR250 and FR251) designed to better understand the
nature of this mineralization and its potential strike extent. Gold mineralization at the West Zone is
associated with quartz-carbonate veining and pervasive sericite alteration. Visual estimates from core
logging indicate up to 10% pyrite and/or pyrrhotite as the dominant sulphides with locally minor
occurrences of visible gold within the main gold-bearing intervals.
Transaction Update
The Company's previously announced acquisition of Nana Resources N.V.'s remaining 30% interest in
Lawa Gold N.V. is proceeding as planned, with closing expected in the near term.
About Founders Metals Inc.
Founders Metals Inc. is a Canadian gold exploration company building a district-scale gold camp in
southeastern Suriname. The Company controls a 102,360-hectare contiguous land package in the
Guiana Shield - the largest uninterrupted package of highly prospective greenstone belt geology in the
region. Founders is executing one of the most active exploration programs in the global junior gold
sector and is backed by a strategic partnership with Gold Fields Limited. The Company is committed to
responsible exploration, strong community engagement, and disciplined capital allocation as it
advances Suriname's next major gold camp.
Figure 1: Antino Gold Project Property Map
1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/313547_d2b6792dc4ba39ec_001full.jpg
1
Results shown in Figure 1 were previously disclosed by the Company in news releases dated August 24, 2023; July 22, 2024; September 24,
2024; November 7, 2024; December 11, 2024; February 20, 2025; April 23, 2025; June 23, 2025; June 24, 2025; December 11, 2025; January 22,
2026; April 2, 2026; April 30, 2026; June 23, 2026; July 15, 2026; and August 6, 2026, each available on the Company's website and under its profile
at
www.sedarplus.ca
.
Figure 2: Upper Antino Plan Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/313547_d2b6792dc4ba39ec_002full.jpg
Figure 3: West Zone Core Photos
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/313547_d2b6792dc4ba39ec_003full.jpg
Table 1: West Zone Assay Results
Drillhole
From (m)
To (m)
Interval (m)
Au (g/t)
FR251
0.00
17.10
17.10
0.38
and
100.00
127.00
27.00
20.38
incl
100.00
110.00
10.00
43.26
and
137.00
143.00
6.00
1.22
incl
139.00
141.00
2.00
3.04
and
183.00
209.00
26.00
0.46
incl
184.00
189.00
5.00
1.37
FR250
119.00
133.00
14.00
1.63
incl
124.00
126.00
2.00
9.86
and
174.00
181.00
7.00
0.47
FR243
NSA
FR242
91.00
104.00
13.00
0.45
FR240
NSA
Drillhole
From (m)
To (m)
Interval (m)
Au (g/t)
Intervals are down-hole core lengths. All are diamond drill holes. True widths of mineralization are estimated to be approximately 80% of the down-
hole interval based on currently available results and observations. Interval average grades are calculated with un-capped gold assays, as
insufficient drilling has been completed to determine capping levels for higher-grade gold intercepts. Widths are calculated using a 0.10 g/t gold cut-
off grade with <5.0 m of internal dilution of zero grade material, and a minimum composite length of 2.0 m. Intervals below 3.0 gram-metre or
averaging below 0.2 g/t Au are omitted. NSA means No Significant Assays.
Table 2: West Zone Drill Hole Locations
Hole ID
Easting (m)
Northing (m)
Elevation (m)
Azimuth (°)
Dip (°)
Depth (m)
FR251
815974.50
400523.00
292.69
260.00
-50.00
275.00
FR250
815861.00
400498.00
311.42
260.09
-50.27
206.03
FR243
815580.00
400766.00
269.42
260.00
-50.00
227.00
FR242
815694.00
400787.50
281.44
260.00
-50.00
209.00
FR240
815816.00
400820.00
272.93
260.00
-50.00
206.13
Coordinates are reported in WGS 84 / UTM Zone 21N.
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: +1 604 712 1790 |
Costner Morrison, Director, Investor Relations
Tel: +1 604 404 9413 |
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 10.0 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. Diamond drill core is HQ diameter through oxide intervals
and predominantly NQ diameter in deeper drilling. All samples are half core, split using a diamond saw.
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.
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation, including statements regarding the Company's planned and ongoing drilling at the
Upper Antino-West Zone and the balance of its 2026 drill program, the characterization of targets as
priorities for future drilling, statements that mineralization remains open along strike and at depth, the
Company's expectations as to the potential scale of the Upper Antino-West Zone, the acquisition of
Nana Resources N.V.'s remaining 30% interest in Lawa Gold N.V., the geological interpretations
described herein including the interpreted orientation and continuity of mineralized structures,
expectations regarding true widths of mineralization, long term value creation and the Company's
prospects.
Forward-looking information can generally be identified by words such as "plans", "expects", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", or
variations indicating that certain actions, events or results "may", "could", "would", "might" or "will" occur
or be achieved.
Forward-looking statements are based on management's current expectations and reasonable
assumptions but are subject to business, market, and economic risks, uncertainties, and contingencies
that may cause actual results to differ materially from those expressed or implied, including: risks that the
parties may not close the Transaction or Gold Fields Investment as announced on August 19, 2026
within anticipated timelines, or at all; general business and economic uncertainties; exploration results;
the risk that additional drilling does not confirm the geological interpretations described herein; mining
industry risks; and other factors described in the Company's most recent annual management
discussion and analysis. Although the Company has attempted to identify important factors that could
cause actual results to differ materially, other factors may cause results not to be as anticipated. There
can be no assurance that forward-looking information will prove accurate, as actual results and future
events could differ materially from those anticipated. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not undertake to update any forward-
looking information except in accordance with applicable securities laws. Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
All material information on Founders Metals can be found at
http://www.sedarplus.ca
.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/313547