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Founders Metals Intersects 8.0 Metres of 6.64 g/t Gold and Discovers New Shear Zone at Donut
Vancouver, British Columbia--(Newsfile Corp. - May 30, 2024) - Founders Metals Inc. (TSXV: FDR)...
About this update from Founders Metals, Inc.
[{"type":"text","content":"Founders Metals Intersects 8.0 Metres of 6.64 g/t Gold and Discovers New Shear Zone at DonutVancouver, British Columbia--(Newsfile Corp. - May 30, 2024) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) (\"Founders\" or the \"Company\") announces drill core assay results from its fully-funded 2024 drill program at the Antino Gold Project in southeastern Suriname. This release reports the remaining eight drill holes from phase one of drilling at the Donut Zone (\"Donut\"). West Donut Shear DiscoveryNew shear zone intercepted in four holes over >150 metres (\"m\") of strike including: 4.5 m of 3.27 grams per tonne (\"g/t\") gold (\"Au\") from 15.6 m downhole (24DO04)12.0 m of 0.84 g/t Au from 12.6 m (24DO13)27.0 m of 0.73 g/t Au from 26.1 m (24DO14)16.5 m of 2.35 g/t Au from 26.1 m (Hole 24DO02, previously reported)Main Donut ShearAlong-strike continuity of previously reported high-grade gold at Donut with intervals including:8.0 m of 6.64 g/t Au from 247.0 m (Hole 24DO13)19.0 m of 1.02 g/t Au from 99.0 m (Hole 24DO09)6.0 m of 3.10 g/t Au from 181.0 m (Hole 24DO15)The Donut Zone is located in the northwest section of the Antino Property, approximately 800 metres northeast of the Froyo Zone (Refer to Figure 1). Mineralization at Donut is characterized by broader, intrusion-hosted gold mineralization and structurally controlled high-grade gold mineralization.Colin Padget, Founders CEO commented, \"We are pleased to see the gold mineralization at Donut continue along strike with 8.0 metres of 6.64 g/t Au in hole 24DO13 and some broader, lower-grade intervals as expected. Additionally, we've hit a second gold-bearing shear hosted in the mixed volcanic rocks to the west of Donut with near surface gold mineralization over substantial widths. Combined, these results represent an excellent first phase of drilling at Donut and our team is busy with planning follow up work.\"West Donut Shear DiscoveryThe newly identified West Donut Shear (Figure 2) is a steeply dipping zone of shear-hosted gold mineralization intercepted in four drill holes. The zone is intercepted near surface in all four holes. Drill holes 24DO04 (4.5 m of 3.27 g/t Au), 24DO13 (12.0 m of 0.84 g/t Au), 24DO14 (27.0 m of 0.73 g/t Au) and previously reported 24DO02 (16.5 m of 2.35 g/t Au) outline a north-south oriented shear zone with a minimum strike length o...