Founders Metals Makes First Discovery at Antino North; Drills 17.22 g/t Au over 3.6 m within 24.6 m of 2.81 g/t Au
Founders Metals Makes First Discovery at
Antino North; Drills 17.22 g/t Au over 3.6 m
within 24.6 m of 2.81 g/t Au
Vancouver, British Columbia--(Newsfile Corp. - April 2, 2026) -
Founders Metals Inc.
(TSXV: FDR)
(OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") announces a new high-grade gold
discovery at its Antino Gold Project ("Antino" or "Project") in southeastern Suriname. The Company
reports high-grade gold mineralization from surface, returning 17.22 grams per tonne (g/t) gold (Au) over
3.6 metres (m) within a broader 24.6 m interval grading 2.81 g/t Au, in the first-ever drillhole in the Antino
North area (Figure 1).
Highlights
First ever Antino North drilling delivers exceptional results from surface in the first drillhole
(AN001)
24.6 m of 2.81 g/t Au including 3.60 m of 17.22 g/t Au
from 1.5 m down hole
13.5 m of 0.44 g/t Au from 54.6 m
First drillhole testing one of twelve gold-bearing structures identified to date at Antino North
Surface work continues:
Over 4,500 auger samples to date in 2026
Total combined strike length of mapped shear zones on surface is 5.3 km
Second Antino North drill now turning
on previously undrilled kilometre-scale gold auger
anomaly (Figure 2)
Colin Padget, President & CEO, commented,
"The Antino North area covers nearly 10,000 hectares
of highly prospective geology that has never seen a drillhole - so we are thrilled to see such high-grade
results from our first diamond hole into the area. Our team on the ground has so far mapped twelve
parallel shear zones across and along strike of the intercepted structure, and we plan to test many of
them over the current ~3,500 metre phase-one drill program. This Antino North discovery reinforces our
belief that the larger Antino Project is host to a major district-scale gold system, and there remains
significant exploration upside and opportunity for further discoveries with this year's exploration
program."
Antino North Drilling
The new discovery is hosted within a series of approximately 5- to 25-metre-wide shear zones, with
geological characteristics consistent with high-grade gold mineralization documented elsewhere on the
Antino Gold Project, including at Upper Antino. The reported drillhole tested the first of twelve northwest-
trending parallel shears recently mapped over multiple kilometres across the Antino North area,
highlighting the significant scale of the mineralizing system. The mapped shear zones are spatially
coincident with a large regional-scale fold - a structural setting commonly associated with orogenic gold
deposits across the Guiana Shield.
Mineralization is similar in character to the shear- and vein-hosted gold mineralization at Upper Antino,
comprising sheared subvertical quartz veins with late brittle deformation overprinting and a sericite-
ankerite-tourmaline alteration assemblage.
The Antino North concession has no record of historical diamond drilling. This discovery represents the
first drill-tested gold zone within the recently acquired exploration concession, located approximately 20
kilometres southwest of the Upper Antino area - confirming the potential for new mineralized centres
across the district-scale Antino land package.
Table 1: Drill Hole Assay Results
Drillhole
From (m)
To (m)
Interval (m)
Au (g/t)
AN001
1.50
26.10
24.60
2.81
incl
1.50
5.10
3.60
17.22
and
54.60
68.10
13.50
0.44
*Intervals are down-hole depths. True widths of mineralization are unknown at this time based on
currently available results and observations. All are diamond drill holes. 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, and a minimum composite length of 2.0 m.
Table 2: Drill Hole Locations
Hole ID
Easting (m)
Northing (m)
Elevation (m)
Azimuth (°)
Dip (°)
Depth (m)
AN001
813830.00
420168.00
149.52
110.00
-70.00
260.00
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 backed by strategic partnerships with Gold Fields and B2Gold and is executing one
of the most active exploration programs in the global junior gold sector. The Company is committed to
responsible exploration, strong community engagement, and disciplined capital allocation as it
advances Suriname's next major gold camp.
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: +1 306 537 8903 |
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation, including statements regarding 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: general
business and economic uncertainties; exploration results; 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
www.sedarplus.ca
.
Quality Assurance and Control
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. 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.
Figure 1: Antino Gold Project Property Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/290987_7d7ccbdbc42bbaaf_001full.jpg
Figure 2: Antino North Target Plan Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/290987_7d7ccbdbc42bbaaf_002full.jpg
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/290987