Founders Metals Grows Upper Antino Gold System; Down-Dip Extension Hits 28.0 m of 14.27 g/t Gold
Rhea-AI Summary
Founders Metals (OTCQX: FDMIF) reported new drill results from the Upper Antino target at its Antino Gold Project in Suriname. Key intercept in hole FR249 returned 28.0 m grading 14.27 g/t gold from 433.0 m, a 50 m down-dip extension of earlier hole FR175 (10.0 m of 5.90 g/t gold).
FR249 cut four stacked gold-bearing shear zones between 285.0 m and 461.0 m, with additional intervals of 18.0 m at 1.04 g/t, 24.0 m at 0.36 g/t, and 6.0 m at 1.62 g/t. Other holes intersected up to 3.0 m at 6.06 g/t gold and 56.0 m at 0.40 g/t gold. Mineralization is gabbro-hosted, remains open, and follow-up drilling is planned.
Positive
- FR249 intersected 28.0 m at 14.27 g/t Au from 433.0 m, 50 m down-dip of FR175
- Four stacked gold zones in FR249 between 285.0 m and 461.0 m, including intervals up to 18.0 m at 1.04 g/t Au
- Additional intercepts include 3.0 m at 6.06 g/t Au (FR231) and 56.0 m at 0.40 g/t Au (FR241)
Negative
- None.
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Vancouver, British Columbia--(Newsfile Corp. - August 6, 2026) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") announces results from the Upper Antino target area at its Antino Gold Project ("Antino" or the "Project") in southeastern Suriname (Figure 1). Recent exploration drilling at Upper Antino intersected 28.0 metres (m) of 14.27 grams per tonne (g/t) gold (Au) from 433.0 m in drill hole FR249, a 50 m down-dip extension of previously reported FR175 (10.0 m of 5.90 g/t Au).
Colin Padget, President & CEO, commented, "These results demonstrate meaningful high-grade growth potential at Upper Antino. FR249 is one of the strongest holes we've drilled at Antino, returning 28.0 metres of 14.27 g/t gold — grade we have typically seen only within the high-grade Froyo core, now intersected well outside it. By extending this mineralization down-dip from FR175, the hole potentially demonstrates strong vertical continuity of a new high-grade zone. Establishing its scale is a priority for our ongoing drilling."
Highlights
- Broad high-grade gold: 28.0 m of 14.27 g/t Au from 433.0 m (~340 m vertical) in FR249, a 50 m down-dip extension from the previously reported drill hole FR175 intersecting 10.0 m of 5.90 g/t Au
- Multiple stacked zones: Drill hole FR249 intersected multiple gold zones with downhole widths ranging from 6.0 m to 28.0 m (Figures 2 and 3)
- Growing gabbro-hosted target: gold mineralization occurs within a gabbro unit widening at depth, representing a progressively larger target for follow-up drilling
Geological Discussion
Ongoing drilling at Upper Antino is testing the down-dip continuation of the multiple gold-bearing shear zones that define the target. Hole FR249 cut four stacked, sub-parallel shears between 285.0 m and 461.0 m down-hole, the deepest of which returned 28.0 m of 14.27 g/t Au from 433.0 m (~340 m vertical) (Figures 2 and 3). The zones above it graded 18.0 m of 1.04 g/t Au from 285.0 m, 24.0 m of 0.36 g/t Au from 319.0 m, and 6.0 m of 1.62 g/t Au from 415.0 m, confirming that the stacked architecture seen near surface persists well below it. Earlier deep drilling traced mineralization to approximately 500 m vertical (announced August 11, 2025); FR249 now further demonstrates that these deeper horizons can carry substantially higher grades.
The highlight intercept occurs where the mineralized structures transect a large gabbro body. Gold mineralization at Upper Antino remains structurally controlled, with the gabbro providing a favourable host: the competent, brittle unit fractures readily where the shears cut through it, opening space for the quartz veining that carries high-grade gold, while its iron-rich composition promotes gold deposition from the mineralizing fluids. Because the unit widens down-dip, the structures intersect progressively greater volumes of this favourable host at depth. Mineralization remains open, and follow-up drilling is planned to track the high-grade structure along strike and down-plunge, with emphasis on its intersection with the gabbro.
The remaining holes in this release tested parallel shears across Upper Antino at a range of depths, returning results consistent with the multi-zone character of the target, including 3.0 m of 6.06 g/t Au from 45.6 m in FR231 and a broad interval of 56.0 m of 0.40 g/t Au from 351.0 m, including 10.0 m of 1.10 g/t Au in drill hole FR241.
About Founders Metals Inc.
Founders Metals Inc. is a Canadian gold exploration company building a district-scale gold camp in southeastern Suriname. The Company controls a 102,360-hectare contiguous land package in the Guiana Shield – the largest uninterrupted package of highly prospective greenstone belt geology in the region. Founders is executing one of the most active exploration programs in the global junior gold sector and is backed by a strategic partnership with Gold Fields Limited. The Company is committed to responsible exploration, strong community engagement, and disciplined capital allocation as it advances Suriname's next major gold camp.
Figure 1: Antino Gold Project Property Map
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Figure 2: Upper Antino Plan Map
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Figure 3: Upper Antino Section
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Table 1: Antino Assay Results
| Drillhole | From (m) | To (m) | Interval (m) | Au (g/t) |
| FR249 | 285.00 | 303.00 | 18.00 | 1.04 |
| and | 319.00 | 343.00 | 24.00 | 0.36 |
| and | 415.00 | 421.00 | 6.00 | 1.62 |
| incl | 415.00 | 417.00 | 2.00 | 4.64 |
| and | 433.00 | 461.00 | 28.00 | 14.27 |
| FR241 | 351.00 | 407.00 | 56.00 | 0.40 |
| incl | 371.00 | 381.00 | 10.00 | 1.10 |
| FR239 | 74.00 | 82.00 | 8.00 | 1.67 |
| incl | 79.00 | 81.00 | 2.00 | 6.33 |
| and | 207.00 | 224.00 | 17.00 | 0.30 |
| FR232 | 33.60 | 44.10 | 10.50 | 0.64 |
| and | 60.60 | 65.10 | 4.50 | 1.03 |
| FR231 | 0.00 | 14.10 | 14.10 | 0.28 |
| and | 45.60 | 48.60 | 3.00 | 6.06 |
| and | 138.00 | 146.00 | 8.00 | 0.57 |
| and | 209.00 | 213.00 | 4.00 | 0.89 |
Intervals are down-hole depths. True widths of mineralization are unknown at this time based on currently available results and observations. All are diamond drill holes. Interval average grades are calculated with un-capped gold assays, as insufficient drilling has been completed to determine capping levels for higher-grade gold intercepts. Widths are calculated using a 0.10 g/t gold cut-off grade with <5.0 m of internal dilution of zero grade material, and a minimum composite length of 2.0 m. Intervals below 3.0 gram-metres are omitted.
Table 2: Antino Drillhole Locations
| Hole ID | Easting (m) | Northing (m) | Elevation (m) | Azimuth (°) | Dip (°) | Depth (m) |
| FR249 | 817396.33 | 401071.00 | 178.06 | 259.98 | -55.31 | 551.00 |
| FR241 | 817201.67 | 400975.67 | 154.92 | 245.00 | -65.00 | 452.02 |
| FR239 | 817246.33 | 400941.33 | 167.76 | 270.00 | -65.00 | 392.00 |
| FR232 | 817281.00 | 400790.00 | 206.18 | 240.00 | -60.30 | 260.00 |
| FR231 | 817193.50 | 400838.00 | 182.74 | 240.30 | -65.20 | 350.00 |
Coordinates are reported in WGS 84 / UTM Zone 21N.
ON BEHALF OF THE BOARD OF DIRECTORS,
Per: "Colin Padget"
Colin Padget
President, Chief Executive Officer, and Director
Contact Information
Katie MacKenzie, Vice President, Corporate Development
Tel: +1 604 712 1790 | katiem@fdrmetals.com
Quality Assurance and Control
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
Qualified Persons
The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc., P.Geol., P.Geo., an independent qualified person as defined by National Instrument 43-101.
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, including, but not limited to, statements regarding long term value creation, the Company's prospects, exploration plans, and anticipated drilling results. Forward-looking information can generally be identified by words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", or variations indicating that certain actions, events or results "may", "could", "would", "might" or "will" occur or be achieved.
Forward-looking statements are based on management's current expectations and reasonable assumptions but are subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results to differ materially from those expressed or implied, including: general business and economic uncertainties; exploration results; mining industry risks; and other factors described in the Company's most recent annual management discussion and analysis. Although the Company has attempted to identify important factors that could cause actual results to differ materially, other factors may cause results not to be as anticipated. There can be no assurance that forward-looking information will prove accurate, as actual results and future events could differ materially from those anticipated. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All material information on Founders Metals can be found at www.sedarplus.ca.
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