Founders Metals Hits 27.0 m of 20.38 g/t Gold in First Step-Out Drilling on New West Zone at Antino
High-grade West Zone drill intercepts and progress on acquiring full ownership of Lawa Gold advance Founders Metals’ Antino project.
Rhea-AI Summary
Founders Metals (FDMIF) reported high-grade drill results from the Upper Antino-West Zone at its Antino Gold Project in Suriname. Step-out hole FR251 returned 27.0 m of 20.38 g/t Au from 100.0 m, including 10.0 m of 43.26 g/t Au, plus several additional mineralized intervals. Nearby hole FR250 cut 14.0 m of 1.63 g/t Au from 119.0 m, including 2.0 m of 9.86 g/t Au. The West Zone lies 1.2 km west of the Froyo Zone and was first intersected in May 2026, with mineralization described as similar in style to Froyo. Five follow-up diamond drill holes were completed and drilling is ongoing. The company also reports that its previously announced acquisition of Nana Resources N.V.'s remaining 30% interest in Lawa Gold N.V. is proceeding with closing expected in the near term.
Positive
- FR251 intercept: 27.0 m of 20.38 g/t Au from 100.0 m, including 10.0 m of 43.26 g/t Au
- FR250 intercept: 14.0 m of 1.63 g/t Au from 119.0 m, including 2.0 m of 9.86 g/t Au
- Multiple mineralized intervals in FR251, including 17.10 m of 0.38 g/t Au from surface and 26.00 m of 0.46 g/t Au from 183.0 m
- Five follow-up diamond drill holes completed at West Zone, with drilling stated to be ongoing
- Acquisition of remaining 30% of Lawa Gold N.V. from Nana Resources N.V. is reported as proceeding with closing expected in the near term
Negative
- None.
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Vancouver, British Columbia--(Newsfile Corp. - September 9, 2026) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") announces drill results from the Upper Antino-West Zone ("West Zone") at its Antino Gold Project ("Antino" or the "Project") in southeastern Suriname (Figure 1). Hole FR251 returned 27.0 metres (m) of 20.38 grams per tonne (g/t) gold (Au) from 100.0 m, including 10.0 m of 43.26 g/t Au. The West Zone is located 1.2 kilometres (km) west of the established Froyo Zone and was first intersected by discovery hole FR217, approximately 50 m to the north, which returned 53.1 m of 1.21 g/t Au from surface (announced June 23, 2026; Figure 2).
Colin Padget, President & CEO, commented, "This ground has been part of Founders' land package for less than a year. Going from adding it to the project, to drilling 27.0 metres of 20.38 g/t gold in FR251, one of the best single intercepts in Antino's history, is a clear demonstration of the exploration potential of this district. That result came from a disciplined process: airborne geophysics, auger sampling and systematic follow-up of the resulting anomalies, the same approach we are applying across the rest of Antino."
West Zone Highlights
- High-grade gold at West Zone: 27.0 m of 20.38 g/t Au from 100.0 m in hole FR251, including 10.0 m of 43.26 g/t Au from 100.0 m (Figure 3).
- Additional gold-bearing shear zone intersected to the west of FR251: 14.0 m of 1.63 g/t Au from 119.0 m, including 2.0 m of 9.86 g/t Au (FR250).
- Gold mineralization style similar to the Upper Antino-Froyo Zone: gold is associated with the same alteration, veining, and structural style that hosts the high-grade mineralization in the Froyo Zone, including the recently announced 28.0 m of 14.27 g/t Au in drill hole FR249 (See August 6, 2026 news release).
- The West Zone is a priority target for the remainder of the 2026 drill program. Five holes were completed in this follow-up program; drilling is ongoing.
The West Zone lies 1.2 km west of the Froyo Zone, in ground that had not been drilled before May 2026. Discovery hole FR217 returned 53.1 m of 1.21 g/t Au, hosted in steeply dipping, northwest-trending structures similar in nature to the geological setting at Froyo. Today's results cover five follow-up diamond drill holes (FR240, FR242, FR243, FR250 and FR251) designed to better understand the nature of this mineralization and its potential strike extent. Gold mineralization at the West Zone is associated with quartz-carbonate veining and pervasive sericite alteration. Visual estimates from core logging indicate up to
Transaction Update
The Company's previously announced acquisition of Nana Resources N.V.'s remaining
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 Map1
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1 Results shown in Figure 1 were previously disclosed by the Company in news releases dated August 24, 2023; July 22, 2024; September 24, 2024; November 7, 2024; December 11, 2024; February 20, 2025; April 23, 2025; June 23, 2025; June 24, 2025; December 11, 2025; January 22, 2026; April 2, 2026; April 30, 2026; June 23, 2026; July 15, 2026; and August 6, 2026, each available on the Company's website and under its profile at www.sedarplus.ca.
Figure 2: Upper Antino Plan Map
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Figure 3: West Zone Core Photos
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Table 1: West Zone Assay Results
| Drillhole | From (m) | To (m) | Interval (m) | Au (g/t) |
| FR251 | 0.00 | 17.10 | 17.10 | 0.38 |
| and | 100.00 | 127.00 | 27.00 | 20.38 |
| incl | 100.00 | 110.00 | 10.00 | 43.26 |
| and | 137.00 | 143.00 | 6.00 | 1.22 |
| incl | 139.00 | 141.00 | 2.00 | 3.04 |
| and | 183.00 | 209.00 | 26.00 | 0.46 |
| incl | 184.00 | 189.00 | 5.00 | 1.37 |
| FR250 | 119.00 | 133.00 | 14.00 | 1.63 |
| incl | 124.00 | 126.00 | 2.00 | 9.86 |
| and | 174.00 | 181.00 | 7.00 | 0.47 |
| FR243 | NSA | |||
| FR242 | 91.00 | 104.00 | 13.00 | 0.45 |
| FR240 | NSA | |||
Intervals are down-hole core lengths. All are diamond drill holes. True widths of mineralization are estimated to be approximately
Table 2: West Zone Drill Hole Locations
| Hole ID | Easting (m) | Northing (m) | Elevation (m) | Azimuth (°) | Dip (°) | Depth (m) |
| FR251 | 815974.50 | 400523.00 | 292.69 | 260.00 | -50.00 | 275.00 |
| FR250 | 815861.00 | 400498.00 | 311.42 | 260.09 | -50.27 | 206.03 |
| FR243 | 815580.00 | 400766.00 | 269.42 | 260.00 | -50.00 | 227.00 |
| FR242 | 815694.00 | 400787.50 | 281.44 | 260.00 | -50.00 | 209.00 |
| FR240 | 815816.00 | 400820.00 | 272.93 | 260.00 | -50.00 | 206.13 |
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
Costner Morrison, Director, Investor Relations
Tel: +1 604 404 9413 | costnerm@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 statements regarding the Company's planned and ongoing drilling at the Upper Antino-West Zone and the balance of its 2026 drill program, the characterization of targets as priorities for future drilling, statements that mineralization remains open along strike and at depth, the Company's expectations as to the potential scale of the Upper Antino-West Zone, the acquisition of Nana Resources N.V.'s remaining
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: risks that the parties may not close the Transaction or Gold Fields Investment as announced on August 19, 2026 within anticipated timelines, or at all; general business and economic uncertainties; exploration results; the risk that additional drilling does not confirm the geological interpretations described herein; 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 http://www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313547
FAQ
How does mineralization at the West Zone compare to the Froyo Zone?
The company states that gold mineralization at the West Zone is associated with quartz-carbonate veining and pervasive sericite alteration, hosted in steeply dipping, northwest-trending structures. This mineralization style is described as similar to the Upper Antino-Froyo Zone, where recent drilling included 28.0 m of 14.27 g/t Au in hole FR249.
What drill holes were included in this West Zone update and what were their outcomes?
This update covers five follow-up diamond drill holes: FR240, FR242, FR243, FR250 and FR251. FR251 and FR250 returned multiple mineralized intervals, including high-grade intercepts, while FR242 returned 13.0 m of 0.45 g/t Au from 91.0 m. Holes FR243 and FR240 are reported as NSA (no significant assays).
How are true widths and assay intervals reported for these drill results?
Reported intervals are down-hole core lengths from diamond drill holes. True widths of mineralization are currently estimated to be approximately 80% of the down-hole intervals based on available results and observations. Widths are calculated using a 0.10 g/t Au cut-off grade with less than 5.0 m of internal dilution of zero-grade material and a minimum composite length of 2.0 m. Intervals below 3.0 gram-metre or averaging below 0.2 g/t Au are omitted.
What assay methods and QA/QC procedures are used for these drill samples?
Samples are analyzed at FILAB Suriname, a Bureau Veritas certified laboratory in Paramaribo, using a 50 g fire assay with AA finish. Samples over 10.0 g/t Au are re-assayed from the original pulp with a gravimetric finish. Founders Metals inserts blanks and certified reference standards into the sample sequence and conducts external QA-QC checks at ALS Global Laboratories in Lima, an ISO/IEC 17025:2017 accredited facility. Drill intervals with visible gold are assayed using metallic screening, and all samples are half core split with a diamond saw.
Who is the qualified person responsible for the technical information in this release?
The technical content of the 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.