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Founders Metals Expands New Parallel Zone; Hits Six Major Gold Intervals in Single Hole
Vancouver, British Columbia--(Newsfile Corp. - January 19, 2024) - Founders Metals Inc. (TSXV: ...
About this update from Founders Metals, Inc.
[{"type":"text","content":"Founders Metals Expands New Parallel Zone; Hits Six Major Gold Intervals in Single HoleVancouver, British Columbia--(Newsfile Corp. - January 19, 2024) - 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 six separate gold intervals in drill hole 23FR045, demonstrating further evidence of a gold-bearing shear zone parallel to the main Froyo shear and potential for economically significant gold mineralization between the two structures. HighlightsDrill hole 23FR045 intercepts mineralization from surface with six major zones totalling 56.5 m of gold mineralization (Figure 1 & 2):10.5 m of 2.81 g/t Au from 14.1 m down hole5.0 m of 4.18 g/t Au from 30.0 m 9.0 m of 8.54 g/t Au from 43.0 m 13.0 m of 5.21 g/t Au from 62.0 m12.0 m of 2.74 g/t Au from 85.0 m7.0 m of 2.74 g/t Au from 136.0 mNew cross-section highlighting the extent of hole 45 gold mineralization in relation to main Froyo Gold Zone (Figure 2) *Intervals are core length and estimated to represent 85% or more of true width based on current drill dataFigure 1. Upper Antino area plan map. Interval highlights from this release are labelled and upcoming/pending drill holes are highlighted. Shaded box around A-A' cross section shows drilling extent included in Figure 2 (+/- 37.5 m).To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/7574/194870_3650b81e9422cb76_001full.jpgColin Padget, Founders' CEO, commented, \"we are thrilled to see so much gold mineralization through this zone as it really starts to fill the gap between the main Froyo structure and this emerging parallel trend. Additionally, these are all near surface gold intervals further improving the potential economics of an open-pit mining scenario. Founders' technical team has also added several new holes to further test the extent of this mineralization, both along strike and further to depth, so I am particularly excited to be on my way to Antino next week and to see the incoming core in person.\"Figure 2. Cross section A-A' (see Figure 1 for location) showing distribution of gold mineralization along drill hole 23FR045. The section cuts 23FR041 drill core showing excellent grade distribution in sheared volcan...