Business
Founders Metals Hits 6.0 Metres of 94.69 g/t Gold and 9.0 Metres of 22.84 g/t Gold on Further Northwest Expansion
Vancouver, British Columbia--(Newsfile Corp. - December 7, 2023) - Founders Metals Inc. (TSXV: ...
About this update from Founders Metals, Inc.
[{"type":"text","content":"Founders Metals Hits 6.0 Metres of 94.69 g/t Gold and 9.0 Metres of 22.84 g/t Gold on Further Northwest ExpansionVancouver, British Columbia--(Newsfile Corp. - December 7, 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 multiple high-grade gold intervals from further NW into the Froyo-Ginger Connector Zone including, 9.0 metres (m) of 22.84 grams per tonne (g/t) gold (Au) and 6.0 m of 94.69 g/t Au with a property-wide record assay of 434.98 g/t Au over 1 metre.HighlightsNew highest grade gold assay in the property's history at 434.98 g/t Au over 1.0 metre Drill hole GG001 hits multiple high-grade gold zones (Table 1, Figures 1-2), including:9.0 m of 22.84 g/t Au from 125 m down hole 6.0 m of 94.69 g/t Au including 1.0 m of 434.98 g/t Au from 152 m down hole Two additional zones including,6.0 m of 4.47 g/t Au from 41.1 m down hole and,6.0 m of 2.92 g/t Au from 193 m down holeFurther extension of ultra high-grade gold zone into Ginger prospect areaFigure 1. Upper Antino area plan map. Long section line A-A' corresponds to Figure 2.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/7574/190215_0018281f5462282d_001full.jpgColin Padget, Founders' CEO and President, commented, \"With gold grades reaching almost 13 ounces per ton, today's results are a spectacular example of the high-grade gold mineralization at Upper Antino. We are also very excited to see additional gold zones away from the main structure as these potentially represent a much broader mineralized footprint than previously recognized.\" Mr. Padget continued, \"As we head into 2024, our access to rapid assay turnaround times will allow us to continue providing consistent drilling and exploration updates to shareholders. Also, the combination of our recent financing plus the over $7 million of deep-in-the-money warrants, places Founders in an excellent position to meet or exceed our 2024 exploration goals, including up to 30,000 metres of diamond drilling. We plan to release Founders' 2024 exploration strategy in the coming weeks.\"*Intervals are core length and estimated to represent 85% or more of true width based on current drill dataFigure 2. Updated F...