Business
Founders Metals Discovers New Parallel Zone; Hits 14.5 m of 16.26 g/t Gold and 26.0 m of 4.86 g/t Gold
Vancouver, British Columbia--(Newsfile Corp. - December 21, 2023) - Founders Metals Inc. (TSXV:...
About this update from Founders Metals, Inc.
[{"type":"text","content":"Founders Metals Discovers New Parallel Zone; Hits 14.5 m of 16.26 g/t Gold and 26.0 m of 4.86 g/t GoldVancouver, British Columbia--(Newsfile Corp. - December 21, 2023) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) (\"Founders\" or the \"Company\") announces drill core assay results from the Antino Gold Project in southeastern Suriname. The Company reports intercepting numerous high-grade gold intervals in a new zone parallel to the main Antino Shear Zone, more than doubling the width of the gold mineralized footprint to over 200 m. The intervals include, from separate holes, 14.5 metres* (m) of 16.26 grams per tonne (g/t) gold (Au), 26.0 m of 4.86 g/t Au, and 14.0 m of 3.65 g/t Au. HighlightsNew gold zone discovery in step-out drilling parallel to the main Froyo Gold ZoneDrill hole 23FR041 intercepts 14.5 m of 16.26 g/t Au from 52.7 m down holeDrill hole 23FR044 intercepts mineralization from surface with four major zones and one interval containing visible gold (Figure 1):11.6 m of 2.59 g/t Au down hole from surface13.0 m of 6.29 g/t Au from 42 m down hole26.0 m of 4.86 g/t Au from 56 m down hole and,6.0 m of 8.52 g/t Au from 117 m down holeDrill-defined gold mineralization at Froyo covers more than 500 x 200 m and extends to vertical depths of >150 m (Figure 2)Colin Padget, Founders' CEO, commented, \"We continue to expand the exceptional gold mineralization at Upper Antino, and these new results represent a major addition to the overall footprint of this robust gold system. We can now point to a sizeable Froyo volume extending more than 500 metres along strike, 200 metres wide, and over 150 metres vertical depth, and that remains open along strike and at depth. Even more exciting is that this year's drilling has tested only a fraction of the historical auger gold anomalies at Upper Antino, with similar surficial gold signatures yet to be tested at Lower Antino, Parbo, and Buese areas.\"Figure 1. Photo of visible gold (VG) from hole 23FR044.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/7574/191979_6650253db443cbed_001full.jpg*Intervals are core length and estimated to represent 85% or more of true width based on current drill dataFigure 2. Upper Antino area plan map. Interval highlights from this release are labelled.To view an enhanced version of t...