Founders Metals Hits 28.5 m of 7.12 g/t Au in First Drill Hole at Van Gogh Discovery

Rhea-AI Summary

Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) has announced significant results from its 2025 drilling campaign at the Antino Gold Project in Suriname. The company reported 28.5 metres of 7.12 g/t gold from 18.6m depth in the first drill hole at the new Van Gogh discovery, located 3.8 km east of the Da Vinci prospect.

The Van Gogh site is situated 2.0 km from Lawa and forms part of a northwest-oriented gold trend extending to the Maria Geralda target. The gold mineralization occurs within a ~30m wide mylonite zone, featuring strongly silicified country rock and quartz intervals up to 5m. The highest-grade intervals contain up to 15% sulphide and show significant brecciation.

The company reports pending drill holes with similar quartz-sulphide mineralization, suggesting mineralized body continuity over >150m. This discovery, along with Da Vinci, supports Founders' exploration strategy, with nine additional high-priority targets identified at Antino.

Positive

• First drill hole yields exceptional results: 28.5m of 7.12 g/t Au from 18.6m depth
• Discovery confirms mineralized body continuity over >150m
• New Van Gogh discovery represents significant 3.8 km step-out from nearest drill hole
• Nine additional high-priority targets identified for exploration

Negative

• None.

News Market Reaction – FDMIF

+5.26%

1 alert

+5.26% News Effect

On the day this news was published, FDMIF gained 5.26%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - February 20, 2025) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") announces the first assay results of its 2025 drilling campaign and a new drill-confirmed high-grade gold discovery at its Antino Gold Project ("Antino" or "Project") in southeastern Suriname (Figure 1). The Company reports 28.5 metres (m) of 7.12 grams per tonne (g/t) gold (Au) from 18.6 m in the first drill hole at Van Gogh, 3.8 km east of the Da Vinci prospect. The drilling follows up on high-grade channel sampling results reported on January 21^st (news release).

Highlights

• Drilling confirms Van Gogh discovery with 28.5 m of 7.12 g/t Au from 18.6 m in first drill hole
  • 3.8 km step-out from nearest drill hole on property
• Early drilling suggests potential for multiple parallel zones
• Pending drillholes with similar quartz-sulphide mineralization suggest continuity of mineralized body over >150 m
• New discoveries at Van Gogh and Da Vinci further support Founders' exploration strategy
• Strong discovery potential for the additional 9 high-priority targets at Antino

"The discovery of high-grade gold at Van Gogh is a major milestone for Founders Metals and further validates our approach to exploration at Antino," stated President and CEO, Colin Padget. "28.5 m of 7.12 g/t Au in our first drill hole at Van Gogh is an incredible start. These assay results, along with our recent Da Vinci discovery, underscore the potential for additional high-grade gold discoveries across the property. 2025 is off to a great start and we're excited to continue unlocking the full potential of Antino."

Geology Discussion

Van Gogh is 2.0 km from Lawa and 3.8 km from Da Vinci, and forms part of an emerging multi-kilometre northwest oriented gold trend that extends to the Maria Geralda target. This trend aligns parallel to the Main Antino Shear Zone, which spans 15+ km from Upper Antino to Da Vinci (Figure 1).

Gold mineralization at Van Gogh occurs within a ~30 m wide mylonite zone with up to 5 m intervals of strongly silicified country rock and quartz. The gold-rich intervals locally contain up to 15% sulphide (pyrite) and the highest-grade intervals are often associated with brecciation. Moderate to strong sericite-chlorite-ankerite alteration occurs throughout the mineralized interval and up to several metres into the surrounding country rock.

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.

Table 1: Drill Hole Assay Results

Hole ID	From (m)	To (m)	Sample Width	Au (g/t)
25VG001	18.60	47.10	28.50	7.12

 
Table 2: Detailed Drill Hole Assay Results

Hole ID	From (m)	To (m)	Sample Width	Au (g/t)
25VG001	18.60	20.10	1.50	0.69
25VG001	20.10	21.60	1.50	1.79
25VG001	21.60	23.10	1.50	2.51
25VG001	23.10	27.60	4.50	0.32
25VG001	27.60	29.10	1.50	2.79
25VG001	29.10	30.60	1.50	0.40
25VG001	30.60	32.10	1.50	0.46
25VG001	32.10	33.60	1.50	3.96
25VG001	33.60	35.10	1.50	2.81
25VG001	35.10	36.60	1.50	7.22
25VG001	36.60	38.10	1.50	7.26
25VG001	38.10	39.60	1.50	4.00
25VG001	39.60	41.10	1.50	17.85
25VG001	41.10	42.60	1.50	31.30
25VG001	42.60	44.10	1.50	21.69
25VG001	44.10	45.60	1.50	17.65
25VG001	45.60	47.10	1.50	11.97

 
Table 3: Drill Hole Location

Hole ID	Easting* (m)	Northing* (m)	Elevation (m)	Azimuth (°)	Dip (°)	Depth (m)
25VG001	828028.0	395905.0	124.4	79.9	-49.7	341.0

 

Figure 1: Property Scale Map with Auger Samples and Van Gogh Drilling Results

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/241626_7ca629e8d46c3b97_001full.jpg

 

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 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 5.0 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.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

Contact Information

Katie MacKenzie, Vice President, Corporate Development
Tel: 306 537 8903 | katiem@fdrmetals.com

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241626

FAQ

What are the latest drill results from Founders Metals (FDMIF) at Van Gogh?

The first drill hole at Van Gogh yielded 28.5 metres of 7.12 g/t gold from 18.6m depth, announced in February 2025.

How far is the Van Gogh discovery from other Founders Metals prospects?

Van Gogh is located 3.8 km east of the Da Vinci prospect and 2.0 km from Lawa.

What is the mineralization type at Founders Metals' Van Gogh discovery?

Gold mineralization occurs within a 30m wide mylonite zone, containing up to 15% sulphide and featuring strongly silicified country rock and quartz intervals up to 5m.

How many high-priority targets does Founders Metals have at the Antino project?

Founders Metals has identified nine additional high-priority targets at the Antino Gold Project beyond the Van Gogh and Da Vinci discoveries.