Vancouver, British Columbia--(Newsfile Corp. - April 23, 2025) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") announces new assay results from the Buese Prospect ("Buese") at its Antino Gold Project ("Antino") in Suriname. Buese covers over 600 hectares (ha) and is ~6 kilometres (km) southeast of Upper Antino (Figure 1). The Company reports 6.0 metres (m) of 2.33 grams per tonne (g/t) gold (Au) (BU025) in northwest step-out drilling along strike of the main Antino Gold Trend. Combined with further broad intervals of intrusion-hosted gold mineralization including 21.6 m of 2.38 g/t Au (BU014) and 112.0 m of 0.55 g/t Au (BU019) in the central Buese area, the step-out drilling indicates significant potential for further growth.
Highlights
Step-out drilling 1,000 m northwest from previously released results demonstrates significant expansion along strike of regional scale mineralizing structure (Figure 2)
6.0 m of 2.33 g/t Au (BU025)
Results continue to confirm bulk tonnage potential (Figure 2)
21.6 m of 2.38 g/t Au from surface (BU014)
112.0 m of 0.55 g/t Au, and 4.5 m of 4.51 g/t Au (BU019)
New mineralized trend parallel to previously identified gold mineralization in furthest southwest drilling (Figure 2)
6.0 m of 6.38 g/t Au (BU018)
Positive initial results from in-progress Buese tailings auger drill program
230 one-metre auger samples collected over 61 holes up to 10 m deep
41 samples over 1.00 g/t Au
Gold ranges from 0.10 g/t Au - 3.39 g/t Au with an average grade of 0.64 g/t Au
15.6 m of 0.45 g/t Au of tailings in diamond drill hole BU002 (previously released)
Buese tailings processed from primary materials cover an area of ~1.3 km²
Colin Padget, President & CEO, commented, "These results demonstrate the scale and continuity of gold mineralization emerging at Buese. The broad, intrusion-hosted intervals, along with the discovery of a parallel zone, further reinforces our excitement about the opportunity Buese represents for Founders. Work is ongoing to further understand the potential economic opportunity that the Buese tailings may offer in future production scenarios, and we are encouraged by initial results. Though we have experienced some slowdown in assay turnaround time due to the increasing exploration activities in Suriname, we are still on track to hit our 60,000-metre drilling goal for 2025. Upcoming news will include some in-progress corporate items along with more drilling results."
Buese Exploration
The second phase of drilling at Buese focused on exploring outside of artisanal mining areas to demonstrate the concept of a multi-kilometre scale gold system focused within, and on the margins of large tonalitic intrusions.
Intrusion-hosted drilling results include 21.6 m of 2.38 g/t Au in drill hole BU014 and 112.0 m of 0.55 g/t Au in BU019. Step-out drilling to the west in BU018 intersected 6.0 m of 6.38 g/t Au, indicating the presence of a parallel zone of gold mineralization. Collared over 1,000 m northwest of any previously known mineralization BU025 returned 6.0 m of 2.33 g/t Au, confirming both scale and an extension of the mineralized system.
Concurrent with Buese drilling, surficial teams have been developing new adjacent targets that share similar structural and lithological features as the mineralized bodies within Buese. These efforts have successfully developed a new emerging trend(s) northeast of Buese, with rock samples grading up to 8.98 g/t Au.
Buese Tailings
New and ongoing auger drilling of tailings piles from historical artisanal gold mining at Buese demonstrate consistent gold grades averaging 0.64 g/t Au, with up to 3.39 g/t Au samples. The homogeneity in gold grades over a large area returned in initial tailings results validate both the economic potential of the tailings, as well as the consistent head grade produced by the artisanal miners. These results support diamond drilling results which indicates strong bulk tonnage potential within the targeted tonalitic intrusions and associated structures at the Buese prospect.
About Founders Metals Inc.
Founders Metals is a Canadian-based exploration company focused on advancing the Antino Gold Project located in Suriname, South America, in the heart of the Guiana Shield. Antino is 20,000 hectares and has produced over 500,000 ounces of gold from surface and alluvial mining to date1. The Company is fully financed for up to 60,000 metres of drilling in 2025.
1 2022 Technical Report - Antino Project; Suriname, South America. K. Raffle, BSc, P. Geo & Rock Lefrançois, BSc, P.Geo.
Quality Assurance and Control
Results from samples were analyzed at FILAB Suriname, a Bureau Veritas Certified Laboratory in Paramaribo, Suriname (a commercial certified laboratory under ISO 9001:2015). Samples are crushed to 75% passing 2.35 mm screen, riffle split (700 g) and pulverized to 85% passing 88 µm. Samples were analyzed using a 50 g fire assay (50 g aliquot) with an Atomic Absorption (AA) finish. For samples that return assay values over 10.0 grams per tonne (g/t), another cut was taken from the original pulp and fire assayed with a gravimetric finish. Founders Metals inserts blanks and certified reference standards in the sample sequence for quality control. External QA-QC checks are performed at ALS Global Laboratories (Geochemistry Division) in Lima, Peru (an ISO/IEC 17025:2017 accredited facility). A secure chain of custody is maintained in transporting and storing of all samples. Drill intervals with visible gold are assayed using metallic screening. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.
Qualified Persons
The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc., P.Geol., P.Geo., a qualified person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS,
Per: "Colin Padget"
Colin Padget President, Chief Executive Officer, and Director
*Intervals represent down-hole depths with true widths of mineralization currently unknown
Table 2: Drill Hole Locations
Hole ID
Easting* (m)
Northing* (m)
Elevation* (m)
Azimuth (°)
Dip (°)
Depth (m)
BU013
821887.7
397046.8
109.7
105.0
-45.0
179.1
BU014
821878.5
397025.0
110.8
278.5
-44.7
326.0
BU015
821595.0
396827.2
120.0
346.2
-44.6
185.1
BU016
821595.0
396827.2
120.0
278.8
-44.8
92.1
BU016B
821597.0
396831.0
120.6
281.1
-44.9
164.0
BU017
821267.1
397374.2
158.7
90.9
-46.2
380.0
BU018
821194.0
397368.5
160.8
250.0
-50.0
260.0
BU019
821194.5
397371.3
161.6
60.0
-45.0
401.1
BU020
821390.0
397628.0
122.9
40.0
-50.0
266.0
BU021
821127.5
397726.3
151.9
270.0
-50.2
299.0
BU022
820936.5
397725.5
141.6
270.0
-50.0
260.1
BU025
820607.3
398129.0
146.1
270.4
-49.9
281.0
*The coordinate reference system is WGS 84, UTM zone 21N (EPSG 32621)
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-Looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings and the future or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect ", "is expected ", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-Looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management discussion and analysis. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
All material information on Founders Metals can be found at www.sedarplus.ca.
