- Gold stock Founders Metals released assay results from its drill program at the Antino Gold Project in southeastern Suriname
- The Vancouver-based miner reported 45.0 metres of 2.16 grams per tonne (g/t) gold (Au) in drill hole 24DO06 and confirms more than 250 metres of strike in a discovery at the Donut target
- At the Froyo target, Hole 24FR50 intercepted 8.0 metres of 8.43 g/t Au in 90 metres down-dip extension to 250 metres vertical depth
- Founders Metals stock opened trading at C$1.15
Gold stock Founders Metals (TSXV:FDR) released assay results from its drill program at the Antino Gold Project in southeastern Suriname.
The Vancouver-based miner reported 45.0 metres of 2.16 grams per tonne (g/t) gold (Au) in drill hole 24DO06 and confirms more than 250 metres of strike in a discovery at the Donut target during its fully funded 2024 drill program.
Cross-sectional view through Upper Antino showing the discovery at Donut and the down-dip extension to gold mineralization at the Froyo Gold Zone. Source: Founders Metals Inc.
Donut is about 800 metres east of the Froyo Gold Zone where drilling continues to deliver results, with hole 24FR51 returning 10.0 metres of 4.73 g/t Au and 24FR50 returning 8.0 metres of 8.43 g/t Au in a major 90-metre down-dip extension to around 250 metres vertical depth.
Founders’ flagship 200 square kilometre project includes more than 30,000 metres of historical drilling, 35,000 gold-in-soil auger samples, property-wide aeromagnetic survey data, and a 2022 light detection and ranging (LiDAR) survey.
Highlights
- New discovery: Intrusion-hosted gold at the Donut Target
- Hole 24DO06 intercepted 45.0 metres of 2.16 g/t AuCurrent strike extent of more than 250 metres and remains open
- Over 800 metres east of the Froyo Gold Zone
- Froyo: Hole 24FR50 intercepted 8.0 metres of 8.43 g/t Au in 90 metres down-dip extension to 250 metres vertical depth
- Historical gold in auger samples grades up to 25.30 g/t Au at Eclaire Target demonstrates potential to extend Froyo gold mineralization NW by more than 500 metres
- Historical gold in auger sampled up to 88.94 g/t Au at Cupcake target between Froyo and Donut
“We are extremely pleased with the first round of Donut results, and we’ve only scratched the surface of what could be there,” Colin Padget, Founders Metals’ chief executive officer, said in a statement. “The widths and grade distribution types suggest a compelling intrusion-hosted, bulk-tonnage target located only 800 m from the high-grade shear-hosted gold mineralization at Froyo. We can already see over 250 m of strike, and there is strong evidence from geophysical data of a km-scale intrusive body. The potential for two gold deposits less than a kilometre from each other truly underlines how robust the Antino gold system is.”
Founders Metals is a mineral exploration company acquiring and advancing gold projects in the South American Guiana Shield.
Founders Metals stock opened trading at C$1.15 per share. Though down 20.98 per cent over past month, the stock is up 213.89 per cent since last year.
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