Vancouver, British Columbia–(Newsfile Corp. – February 20, 2025) – Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) (“Founders” or the “Company”) announces the first assay results of its 2025 drilling campaign and a new drill-confirmed high-grade gold discovery at its Antino Gold Project (“Antino” or “Project”) in southeastern Suriname (Figure 1). The Company reports 28.5 metres (m) of 7.12 grams per tonne (g/t) gold (Au) from 18.6 m in the first drill hole at Van Gogh, 3.8 km east of the Da Vinci prospect. The drilling follows up on high-grade channel sampling results reported on January 21st (news release).
Highlights
Drilling confirms Van Gogh discovery with 28.5 m of 7.12 g/t Au from 18.6 m in first drill hole3.8 km step-out from nearest drill hole on propertyEarly drilling suggests potential for multiple parallel zones Pending drillholes with similar quartz-sulphide mineralization suggest continuity of mineralized body over >150 mNew discoveries at Van Gogh and Da Vinci further support Founders’ exploration strategyStrong discovery potential for the additional 9 high-priority targets at Antino
“The discovery of high-grade gold at Van Gogh is a major milestone for Founders Metals and further validates our approach to exploration at Antino,” stated President and CEO, Colin Padget. “28.5 m of 7.12 g/t Au in our first drill hole at Van Gogh is an incredible start. These assay results, along with our recent Da Vinci discovery, underscore the potential for additional high-grade gold discoveries across the property. 2025 is off to a great start and we’re excited to continue unlocking the full potential of Antino.”
Geology Discussion
Van Gogh is 2.0 km from Lawa and 3.8 km from Da Vinci, and forms part of an emerging multi-kilometre northwest oriented gold trend that extends to the Maria Geralda target. This trend aligns parallel to the Main Antino Shear Zone, which spans 15+ km from Upper Antino to Da Vinci (Figure 1).
Gold mineralization at Van Gogh occurs within a ~30 m wide mylonite zone with up to 5 m intervals of strongly silicified country rock and quartz. The gold-rich intervals locally contain up to 15% sulphide (pyrite) and the highest-grade intervals are often associated with brecciation. Moderate to strong sericite-chlorite-ankerite alteration occurs throughout the mineralized interval and up to several metres into the surrounding country rock.
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 date1. The Company is fully financed for up to 60,000 metres of drilling in 2025.
1 2022 Technical Report РAntino Project; Suriname, South America. K. Raffle, BSc, P. Geo & Rock Lefran̤ois, BSc, P.Geo.
Table 1: Drill Hole Assay Results
Hole IDFrom (m)To (m)Sample WidthAu (g/t)25VG00118.6047.1028.507.12
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Table 2: Detailed Drill Hole Assay Results
Hole IDFrom (m)To (m)Sample WidthAu (g/t)25VG00118.6020.101.500.6925VG00120.1021.601.501.7925VG00121.6023.101.502.5125VG00123.1027.604.500.3225VG00127.6029.101.502.7925VG00129.1030.601.500.4025VG00130.6032.101.500.4625VG00132.1033.601.503.9625VG00133.6035.101.502.8125VG00135.1036.601.507.2225VG00136.6038.101.507.2625VG00138.1039.601.504.0025VG00139.6041.101.5017.8525VG00141.1042.601.5031.3025VG00142.6044.101.5021.6925VG00144.1045.601.5017.6525VG00145.6047.101.5011.97
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Table 3: Drill Hole Location
Hole IDEasting* (m)Northing* (m)Elevation (m)Azimuth (°)Dip (°)Depth (m)25VG001828028.0395905.0124.479.9-49.7341.0
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Figure 1: Property Scale Map with Auger Samples and Van Gogh Drilling Results
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/241626_7ca629e8d46c3b97_001full.jpg
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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.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
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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Publish date : 2025-02-20 00:58:00
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