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Founders Metals Announces High-Resolution UAV Magnetics Survey for Elmtree Au Project
Edmonton, Alberta--(Newsfile Corp. - July 13, 2021) - Founders Metals Inc. (TSXV: FDR) (" ...
About this update from Founders Metals, Inc.
[{"type":"text","content":"Founders Metals Announces High-Resolution UAV Magnetics Survey for Elmtree Au ProjectEdmonton, Alberta--(Newsfile Corp. - July 13, 2021) - Founders Metals Inc. (TSXV: FDR) (\"Founders\" or the \"Company\") is pleased to announce a drone-based airborne magnetics survey on its Elmtree Gold Project in the Bathurst Mining Camp of northeastern New Brunswick. The survey is underway, and being flown by Vision 4K, a specialist Canadian provider of UAV/Drone-based geophysical surveys. Gold mineralization in the region is often spatially associated with east-to-northeast-trending, regional-scale fault/shear zones, such as the gold-bearing Elmtree Fault Zone, which transects Founders' claims. Iron-rich mafic rocks within the Elmtree Fault Zone host a significant portion of the known Elmtree Gold Project's mineral resource1. The often highly magnetic nature of these rocks combined with higher concentrations of magnetic sulphide minerals (e.g., pyrrhotite) associated with mineralized zones provide excellent targets for a detailed magnetics survey.Survey Highlights855-line kilometres of drone-based airborne magnetics covering the entirety of Founders Metals' Elmtree Property.25 m spaced flight lines flown at a consistent 28 m elevation above ground level.Ground-breaking, real-time obstacle avoidance system unique in North America allows the UAV to fly at the lowest consistent altitude throughout the survey.With 1.2 m data collection intervals and flight speeds up to 12 m/s (~43 km/h), this drone-based magnetics survey delivers consistent high-resolution data at much lower cost and in less time than traditional ground survey techniques.The high-resolution survey will better define the lateral subsurface extent of the West Gabbro Zone mineralization and aid in accurate drill targeting to expand the current 294,000 oz gold resource estimate1. In addition, the survey is expected to better define the geometry and structural controls on gold mineralization and will aid in the identification of parallel or en echelon structures to the main Elmtree Fault Zone; a potential source of historical gold & arsenic soil anomalies separate from the three known gold deposits1. The team at Founders would again like to thank the New Brunswick Department of Natural Resources and Energy Development for their generous support of Founders Metals' 2021 exploratio...