- Founders Metals, an outperforming gold stock, is releasing a new high-grade assay from its flagship Antino gold project in Suriname
- The high-grade interval measured 10 m grading 24.61 g/t gold
- Founders Metals is a mineral exploration company acquiring and advancing gold projects in the South American Guiana Shield
- Founders Metals stock has rewarded shareholders with a 316.67 per cent return year-over-year, and almost 700 per cent since optioning Antino in October 2022
Founders Metals (TSXV:FDR), an outperforming gold stock, is releasing a new high-grade assay from its flagship Antino gold project in Suriname.
Drillhole 23FR036B intercepted the high-grade interval of 10 metres grading 24.61 g/t gold, while drillhole 23FR035 yielded 15 m of 1.72 g/t gold from 164 m down hole, both from resource infill/expansion-type drilling conducted in late 2023 within Antino’s Froyo gold zone.
The news coincides with the beginning of Founders’ 2024 drilling on the project, for which the company is fully funded up to 30,000 m. The program will deploy the company’s two diamond drills towards expansion and resource definition within the Froyo gold zone, as well as exploration across “previously uncharted concessions areas,” according to a news release. Initial drilling will test Froyo’s recently discovered parallel gold zone further to depth and along strike.
“We are pleased to announce that our two company-owned diamond drills are now fully operational for 2024, enhancing our drilling efficiency and capacity. With our exploration program accelerating, we’re happy to maintain fast lab turnaround times and anticipate a steady news flow of drill results every two to three weeks,” Colin Padget, president and chief executive officer of Founders Metals, said in a statement.
“The pending results from hole 45 are particularly exciting as, from visual observation, we expect them to contribute substantially to the parallel gold zone within the Froyo gold zone, further underlining our project’s potential,” he added.
The high-grade interval continues Founders Metals’ long history of similarly value-accretive results, most recently highlighted by record gold grades in December 2023 and a 50 m mineralized extension in November 2023.
Founders Metals is a mineral exploration company acquiring and advancing gold projects in the South American Guiana Shield. Its flagship 20,000-ha Antino gold project in Suriname includes more than 30,000 m of historical drilling, 35,000 gold-in-soil auger samples, property-wide aeromagnetic survey data, and a 2022 LiDAR survey.
Founders Metals stock (TSXV:FDR) is up by 4 per cent, trading at C$1.56 per share as of 9:58 am ET. The stock has rewarded shareholders with a 316.67 per cent return year-over-year, and almost 700 per cent since optioning Antino in October 2022, on the back of consistently prospective drill results. The TSX index, in comparison, is up by 4.6 per cent and 15 per cent, respectively.
Join the discussion: Find out what everybody’s saying about this outperforming gold stock on the Founders Metals Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.