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Shares of Founders Metals surged to an all-time high Monday after the company announced promising assay results from its 2024 drill program at its flagship Antino gold project in southeastern Suriname.
The new results are highlighted by another high-grade interval of 6 metres at 5.31 g/t gold, including 10 metres of 12.05 g/t and 4 metres of 29.36 g/t. A separate hole also returned 28 metres of 3.35 g/t, 7 metres of 13.52 g/t and 6 metres of 6.89 g/t. Founders Metals CEO Colin Padget said these results confirm the multiple, robust gold-bearing structures parallel to the main Froyo shear, and continue to demonstrate the potential for growth. Drilling results from late June also reported intercepts that pointed to a new gold-bearing shear further east of Froyo.
Founders is the project operator and is eligible to earn up to a 75% interest for a combined payment of approximately $3.2 million and exploration expenditures of up to $26 million, as well as completing a bankable feasibility study.
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