Business
Founders Metals Identifies New Targets from High-Resolution IP Survey
Vancouver, British Columbia--(Newsfile Corp. - August 8, 2023) - Founders Metals Inc. (TSXV: FD...
About this update from Founders Metals, Inc.
[{"type":"text","content":"Founders Metals Identifies New Targets from High-Resolution IP SurveyVancouver, British Columbia--(Newsfile Corp. - August 8, 2023) - Founders Metals Inc. (TSXV: FDR) (\"Founders\" or the \"Company\") announces the successful completion of a high-resolution induced polarization (IP) and electrical resistivity survey at the Antino Gold Project in southeastern Suriname. The ground-based geophysical survey identified multiple resistivity and chargeability anomalies coincident with known gold mineralization. The survey upgrades several exploration targets to drill-ready status and provides Founders with many new high-priority exploration targets in the Upper Antino area.Nineteen line-kilometres of grid gradient and seven line-kilometres of pole-dipole IP surveys were completed by GexplOre. The geophysical surveys cover key targets within the Upper Antino area including established high-grade gold zones. A strong correlation between chargeability highs and gold mineralization is shown in Figure 1 and supports significant potential to expand known gold mineralization to depth and further along strike. Colin Padget, Founders' Director, CEO, & President commented, \"The results of the IP survey provide invaluable information for expanding upon known mineralized zones while also identifying exciting new targets that share similar characteristics to high-grade gold mineralization at surface and at depth, such as the 12 m of 19.23 g/t Au and 4.5 m of 9.92 g/t Au from our last release. This new data further strengthens our already robust Antino dataset and enhances our ability to successfully target gold mineralization on the property. It is particularly encouraging to see so many high-quality targets at Upper Antino as it represents only a small portion of the 20,000-hectare Antino property and speaks to the potential for discovering a large-scale gold deposit.\" Founders Metals' ongoing 2023 exploration program consists of up to 10,000 metres of diamond drilling, ground-based geophysical surveys, bedrock and structural mapping, surface geochemical surveying, and prospecting. The program aims to expand several high-grade historical gold zones to depth and along strike within the more than 8-kilometre-long Main Antino Shear Corridor as well as a series of proximal high-priority targets including previously overlooked intrusion-hosted bu...