Business
Founders Metals Drills 12.00 Metres of 19.23 g/t Gold at Antino
Vancouver, British Columbia--(Newsfile Corp. - July 27, 2023) - Founders Metals Inc. (TSXV: FDR...
About this update from Founders Metals, Inc.
[{"type":"text","content":"Founders Metals Drills 12.00 Metres of 19.23 g/t Gold at AntinoVancouver, British Columbia--(Newsfile Corp. - July 27, 2023) - Founders Metals Inc. (TSXV: FDR) (\"Founders\" or the \"Company\") announces initial early results and an update on its 2023 drill program at the Antino Gold Project in southeastern Suriname. The Company's exceptional early results confirm high-grade gold mineralization in the Upper Antino Area's Froyo Zone. Ongoing drilling focuses on further extending this zone to depth and along strike. Founders also reports excellent production using its own drilling equipment, with recovery and penetration rates that significantly outpace previous operators on the property. HighlightsDrillhole 23FRDD003 intersects 12 metres (m) core length of 19.22 grams per tonne (g/t) gold (Au) including 3 m of 29.90 g/t Au and 2.65 m of 22.37 g/t Au (Table 1, Figures 1&2)Drillhole 23FRDD001 returns 4.5 m core length of 9.92 g/t Au (Table 1, Figures 1&2)The new gold intercepts are potential down-dip and along strike extensions of previously reported high-grade surface grab samples with gold assays of up to 57.84 g/t Au (Figure 2)Efficient and cost-effective use of Founders' own drill rig with over 2,000 m of drilling to date with a second drill still to come on-line Table 1: Drilling Results Drillhole From (m)To (m)Interval (m)**Au (ppm)     23FRDD00355.0067.0012.0019.22Incl56.0059.003.0029.90Incl63.0065.652.6522.37          23FRDD00126.0030.504.509.92*      *Sections of this interval returned <50% drill core recovery in saprolite overburden; ** Intervals are core length. At this early stage of exploration true widths are unknown.Founders' President and CEO Colin Padget commented, \"The 2023 Antino drill program is off to a great start with smooth drilling, proven fast turnaround on assays, and these terrific early results. A 12 m interval of 19.22 g/t Au near surface and in rock below the saprolite, demonstrates the tenor of high-grade gold mineralization at Antino and the potential for open-pit mining. With gold mineralization occurring over more than 8 kilometres of strike along the main Antino Shear and artisanal mining workings extending another several kilometres to the property's edge, we see real potential fo...