What's Happening?
Founders Metals has finalized an agreement to acquire a 36,000-hectare exploration concession in Suriname, South America, expanding its Antino gold project. This acquisition follows a letter of intent
signed last month and increases the total project area to 56,000 hectares. The company plans to resume drilling at Upper Antino, which had previously been halted due to concession boundaries. Recent drill core assay results have extended the strike length of gold mineralization at Upper Antino to over 2,500 meters. Notable intercepts include 17 meters of 3.06 grams per tonne gold and a broader interval of 60 meters of 0.85 grams per tonne gold. Founders Metals has also secured a strategic investment of C$50 million from Gold Fields, enhancing its exploration capabilities in Suriname.
Why It's Important?
The acquisition and expansion of the Antino gold project are significant for Founders Metals as it positions the company to explore and potentially develop multi-million-ounce gold deposits. The strategic investment from Gold Fields provides financial backing, enabling Founders Metals to advance its exploration activities efficiently. This development could have broader implications for the gold mining industry, particularly in Suriname, as it may attract further investment and exploration interest in the region. The expansion of the project area and the promising assay results suggest potential for substantial resource growth, which could impact the company's valuation and market position.
What's Next?
Founders Metals plans to continue drilling at various sites within the expanded concession, including Da Vinci, Lower Antino, Parbo, and Upper Antino, with Van Gogh drilling set to begin soon. Results from Maria Geralda and Parbo are expected in the coming weeks, followed by other priority targets through the fourth quarter and into early 2026. The company aims to systematically explore its growing land package, leveraging its strong cash position and proven exploration team. Stakeholders, including investors and local communities, will be watching closely for further assay results and developments in the project.
