Founders Metals Inc. has officially closed the acquisition of 100% of a 36,000 hectare exploration concession located to the west of its Antino Gold Project in southeast Suriname. This brings the total area under the company’s control to 56,000 hectares, enabling the resumption of drilling to the northwest at Upper Antino, an area where drilling had previously been halted due to mining tenement boundaries.
Drill Results Extend Gold Mineralization
The company has also released new results from its drilling program for the drilling program 60,000 meter drill program. These assays have confirmed the extension of gold mineralization at Upper Antino by over 2,500 meters along strike.
Notable intervals include 17.0 meters grading 3.06 g/t gold, including 4.0 meters grading 10.44 g/t, and a near surface section of 60.0 meters grading 0.85 g/t from just 8.1 meters depth.
Financial support and regional operation
This strategic move comes just weeks after Founders Metals secured a C$50 million investment from Gold Fields.
With this capital injection, the company strengthens its capacity to move forward on multiple fronts, currently operating in different areas of the project such as Da Vinci, Lower AntinoParbo and Froyo. Results from other key targets such as Maria Geralda and Van Gogh are expected soon.
The transaction, valued at US$5 million (equivalent to US$139 per hectare), includes additional payments conditional on milestones such as the publication of a resource estimate equal to or greater than one million ounces of gold, the closing of a feasibility study and the actual volume of future production.
Target zones show continuity and good gold grades
Recent drilling also confirms that mineralization remains continuous between the Froyo and Donut zones. In the Froyo zone, for example, several sections with relevant grades were identified, including 7.0 meters at 11.74 g/t gold from 197 meters depth.
These intersections support the vertical continuity of the mineralized system and underscore the growth potential of the project as it moves into adjacent structures.
With this territorial expansion and the support of renewed financial strength, Founders Metals reinforces its position as one of the key players in the gold exploration gold exploration in the Guiana exploration in the Guiana Shield.
Source and photo: Founders Metals
