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 area to 56,000 hectares. This acquisition follows
a letter of intent signed last month and allows the company to resume drilling at Upper Antino, which had previously been halted due to concession boundaries. The company has released new drill core assay results from its ongoing 60,000-meter drill program, extending the strike length of Upper Antino gold mineralization to over 2,500 meters. Notable intercepts include 17 meters of 3.06 grams per tonne (g/t) gold and a broader near-surface interval of 60 meters of 0.85 g/t gold. Founders Metals President and CEO Colin Padget highlighted the strategic investment from Gold Fields and the expansion of the Antino land package as key developments.
Why It's Important?
The expansion of Founders Metals' exploration concession in Suriname is significant for the company's growth and the potential increase in gold resources. With the strategic investment from Gold Fields and the expanded land package, Founders Metals is positioned to explore and potentially develop multi-million-ounce gold deposits. This development could enhance the company's market position and attract further investment. The ongoing drill program and positive assay results indicate promising resource growth, which could lead to increased production and profitability. The expansion also underscores the importance of Suriname as a region with substantial mineral potential, contributing to the global gold supply and impacting the mining industry.
What's Next?
Founders Metals plans to continue its drilling activities at various sites, including Da Vinci, Lower Antino, Parbo, and Upper Antino, with Van Gogh drilling set to begin soon. The company expects to release results from Maria Geralda and Parbo in the coming weeks, followed by other priority targets through the fourth quarter and into early 2026. These activities are likely to provide further insights into the resource potential of the expanded concession area. The company aims to systematically explore its growing land package, leveraging its strong cash position and proven exploration team to maximize resource development.
