Founders Metals Makes First High-Grade Gold Discovery of 2025; 17.8 m of 5.68 g/t Au at Surface in New Zone
Founders Metals Makes First High-Grade Gold
Discovery of 2025; 17.8 m of 5.68 g/t Au at
Surface in New Zone
Vancouver, British Columbia--(Newsfile Corp. - January 21, 2025) -
Founders Metals Inc.
(TSXV:
FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") announces a new high-grade gold
discovery 1.8 kilometres (km) west of the Lawa Prospect, at the Antino Gold Project ("Antino" or
"Project") in southeastern Suriname (Figure 1). The Company highlights grab sample results with assays
ranging from 1.5 to 66.8 grams per tonne (g/t) gold (Au), and 17.8 metres (m) of 5.68 g/t Au in the first
channel sample over the newly identified high-grade structure. The discovery highlights an emerging,
multi-kilometre parallel gold trend east of the main >15 km Antino structure (Figure 1, dashed line). The
Company recently began drilling the new zone as the first of more than ten new high-priority drill targets
planned for 2025.
Highlights
Gold mineralization confirmed in a broad, high-grade shear zone with 17.8 m of 5.68 g/t Au in first
channel
Four additional grab samples were taken from Van Gogh with grades of 66.8 g/t Au, 11.0 g/t Au,
7.8 g/t Au and 1.5 g/t Au
Current mapping indicates the structure extends >300 m along strike, with an average estimated
true width of ~20 m for the main shear
Sampling, LiDAR analysis, and mapping indicate more than one mineralized structure
First of over ten 2025 exploration targets tested with similar overlapping geological characteristics
as at Upper Antino
Fully funded 60,000 m 2025 drill plan focuses on new discoveries and further extending known
gold mineralization
Colin Padget, President and CEO, commented "With all four drills back turning following a three-week
break over the holidays, we're starting out strong in 2025. Our focus this year is on making new
discoveries and continuing to grow what we know at Antino. Our technical team has identified 10-12 new
areas with geological characteristics like those leading to December's Da Vinci Zone discovery and
today's 17.8 m channel of 5.68 g/t Au is our first example of this approach in action. Our fully funded
60,000 m drill program is now underway with assay results beginning to roll in from the lab. With ongoing
expansion drilling in several areas and our plan to rapidly test new targets, we will continue our track
record of regularly releasing news throughout 2025. We look forward to a busy and exciting 2025."
New 'Van Gogh' Zone Geology
The Van Gogh prospect is situated 1.8 km from Lawa and 3.8 km from Da Vinci, and forms part of an
emerging multi-kilometre northwest oriented gold trend that includes Lower Antino and Maria Geralda
targets and is actively being developed by surficial teams (Figure 1). The first diamond drill hole of a
planned 1,500 m phase 1 drill program is underway to test gold mineralization at depth and along strike.
Gold mineralization at Van Gogh occurs within an ~20 m wide mylonite zone comprising heavily
sheared, decimetre-scale quartz and quartz breccia zones throughout the interval. Gold bearing intervals
contain 2-5% disseminated and boxwork pyrite, typically with moderate to strong sericite-chlorite-
ankerite alteration of the mixed intrusive and volcanic wall rock (Figure 3, current drilling). Grade
distribution in channel sampling is excellent (Table 1) with high overall grades similar to Upper
Antino/Froyo Zone mineralization.
2025 Exploration Strategy
Upper Antino
The focus at Upper Antino is continuing extending gold mineralization to the north and south and to test
adjacent targets with similar characteristics. Gold mineralization at Upper Antino currently has a drill
defined strike length of 1.6 km, depth of 280 m, and remains open in all directions. The Company plans
to complete up to 20,000 m of drilling at Upper Antino in 2025.
Buese and Lower Antino
A second drill will split its time between Buese and Lower Antino, continuing to expand known
mineralization with broad steps along strike. This program will be designed to determine the extent of the
Buese and Lower Antino areas' mineralized footprint. There is currently ~8,000 m of planned drilling
between these two more advanced targets.
Da Vinci, Lawa, and other advanced targets
Initial 2025 plans at Da Vinci include a 3,000 m program to follow up on initial results from December
last year. Da Vinci is a high-priority early exploration target for 2025. A maiden drill program at Lawa is
planned to begin in H1 2025. Other advanced targets for 2025 drilling including, Maria Geralda and
Parbo (Figure 1).
Van Gogh and new targets
A 1,500 m program at Van Gogh is underway (Figure 3) and once complete the drill will continue to the
next high-priority target in the area with the goal of drill testing 1-2 new drill targets per month.
Combined, up to 25,000 m of drilling is planned for new target areas at Antino. Approximately 50% of
these targets are within previously unexplored regions of the property. Additional drills are available and
may be added to the program as necessary based on results.
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.
Figure 1: Property Scale Map with Auger Samples
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/237828_66a97085b4429a1b_001full.jpg
Figure 2: Plan Map of Van Gogh Target
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/237828_66a97085b4429a1b_002full.jpg
Figure 3: Photo of Drill Core from VG001 Drill Hole (currently drilling)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/237828_figure3.jpg
Table 1:
Assay Results from Channel
Sample Number
From (m)
To (m)
Sample Width
Au (g/t)
G545009
0.0
1.0
1
12.35
G545010
1.0
2.0
1
6.12
G545011
2.0
3.0
1
1.94
G545012
3.0
4.0
1
0.23
G545013
4.0
5.4
1.4
0.54
G545004
5.4
6.4
1
1.35
G545005
6.4
7.4
1
11.02
G545006
7.4
8.4
1
4.72
G545007
8.4
9.4
1
1.77
G545008
9.4
10.0
0.6
0.35
NO SAMPLE
10.0
11.2
G547046
11.2
12.2
1
6.36
G547047
12.2
13.2
1
4.35
G547048
13.2
14.2
1
25.21
G547049
14.2
15.2
1
2.69
G547050
15.2
16.2
1
2.56
G545001
16.2
17.2
1
16.72
G545002
17.2
18.2
1
0.61
G545003
18.2
19.0
0.8
2.70
Sample Number
From (m)
To (m)
Sample Width
Au (g/t)
Table 2: Location of Channel Sample
Channel ID
Easting* (m)
Northing* (m)
DV001
828067.5
395915.9
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., 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
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
.
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