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Founders Metals Identifies Historical Artisanal Mining Tailings Grading up to 9.17 Grams Per Tonne Gold from Multiple Areas
Vancouver, British Columbia--(Newsfile Corp. - October 24, 2023) - Founders Metals Inc. (TSXV: ...
About this update from Founders Metals, Inc.
[{"type":"text","content":"Founders Metals Identifies Historical Artisanal Mining Tailings Grading up to 9.17 Grams Per Tonne Gold from Multiple AreasVancouver, British Columbia--(Newsfile Corp. - October 24, 2023) - Founders Metals Inc. (TSXV: FDR) (\"Founders\" or the \"Company\") announces auger geochemical survey results targeting historical artisanal mining tailings at the Antino Gold Project in southeastern Suriname, South America. The Company reports gold concentrations of up to 9.17 grams per tonne (g/t) gold (Au) in the alluvial mining tailings. The preliminary survey outlines three large tailings areas that collectively cover >100,000 m2 with minimum thicknesses over 3.5 m. Ongoing work is underway to evaluate the full economic potential of the gold-rich tailings at Upper Antino and the much larger volume of tailings in the Buese area.Highlights:Froyo zone tailings up to 9.17 g/t Au with twenty samples averaging 3.35 g/t AuEclaire zone tailings up to 3.77 g/t Au and averaging 1.41 g/t Au (27 samples)Donut zone tailings up to 1.56 g/t Au (31 samples)>100,000 m2 of historical tailings at Upper Antino with 3.5 m minimum thicknessMuch larger historical tailings at Buese still to be sampledFigure 1: Upper Antino area plan map showing auger sample locations and gold grades in historical tailings.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/7574/185048_dd98eaaf8489784c_001full.jpgFounders' CEO, Colin Padget, commented, \"We are very pleased to find such high gold grades in the historical tailings. We potentially have our market cap or more in recoverable gold from this easily accessible material at Upper Antino, and the recognition that this represents less than 30% of the total tailings on the property, makes this a major find for Founders. Additionally, with the low gold recoveries attributed to artisanal mining, the gold concentrations we're seeing in the Upper Antino tailings are further evidence of large-scale, high-grade gold mineralization at Antino.\" The auger survey consisted of 78 one-metre samples collected from depths of 1-3 metres over a portion of the main historical tailings' areas at Froyo, Eclaire, and Donut (see Figure 1). The tailings are largely homogenous piles of sub-2 mm material produced locally from a single mining area. They are mostly derived from high-grade sapro...