Latest news with #ColinPadget
The Market Online
6 days ago
- Business
- The Market Online
Gold outperformer Founders Metals delivers more high-grade hits
Founders Metals (TSXV:FDR) expanded mineralization at its Antino gold project in Suriname, with the latest assays from a fully funded 60,000 metre drilling program yielding a flurry of promising results Results are highlighted by 46 m of 3.59 grams per ton of gold from 174 metres in the Main Froyo Shear Founders Metals stock (TSXV:FDR) last traded at C$2.95 and has added 12.17 per cent year-over-year The stock's 490 per cent return since adopting the Founders Metals name in March 2021 is well ahead of its target commodity's 77 per cent return over the period Founders Metals (TSXV:FDR) expanded mineralization at its Antino gold project in Suriname, with the latest assays from a fully funded 60,000 metre drilling program yielding a flurry of promising results. This content has been prepared as part of a partnership with Founders Metals Inc., and is intended for informational purposes only. Three drillholes almost doubled the extent of the Froyo Zone to 500 metres vertical depth, yielding 8 metres (m) of 2.25 grams per ton (g/t) gold from 597 m (FR115) and 13 m of 2.10 g/t gold from 468 m (FR123). Drillholes testing high-grade continuity yielded up to 46 m of 3.59 g/t gold from 174 m in the Main Froyo Shear (FR120) and 24 m of 2.03 g/t gold from 26.1 m in the Parallel Shear (FR122). Additionally, parallel shears between Froyo and Donut intercepted 28 m of 1.18 g/t gold from 332 m (FR126), as well as 11 m of 2.32 g/t gold from 397 m (FR123). According to Monday's news release, mineralized intercepts at depth are 'geologically similar in character to shallower Upper Antino mineralization,' making management confident about encountering new high-grade domains along strike. Upcoming investor catalysts include an up to 2,000 m drilling program to follow up on a 22.5 m at 11.88 g/t gold intercept at the Maria Geralda target reported in June. Exploration is also underway at the Van Gogh, Da Vinci, Lawa and Parbo targets spanning geological mapping, rock sampling, channel and trench sampling, as well as deep auger drilling programs, with management planning for follow-up drilling at these targets in early Q4 2025. Leadership insights 'We're seeing exciting results on multiple fronts at Upper Antino. Ongoing drilling testing continuity and growth of high-grade domains within Froyo hit an impressive 46 metres of 3.59 grams per ton gold in FR120, and we are continuing to see success in our eastward steps towards Donut,' Colin Padget, Founders Metals' president and chief executive officer, said in a statement. 'Early results from our deep drilling program nearly double the vertical depth of the Froyo zone to over 500 metres from surface, substantially increasing the expansion potential at Upper Antino.' Founders Metals is advancing its flagship 20,000-hectare Antino gold project in Suriname. The project has produced more than 500,000 ounces of gold from historical surface and alluvial mining to date and houses a gold system with drill-confirmed, district-scale potential. Founders Metals stock (TSXV:FDR) last traded at C$2.95 and has added 12.17 per cent year-over-year. The stock's 490 per cent return since adopting the Founders Metals name in March 2021 is well ahead of its target commodity's 77 per cent return over the period. Join the discussion: Find out what everybody's saying about this junior gold stock on the Founders Metals Inc. Bullboard and check out the rest of Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
The Market Online
13-06-2025
- Business
- The Market Online
Ten-bagger Founders Metals grows stake in flagship project
Ten-bagger Founders Metals (TSXV:FDR) successfully completed all requirements under stage 2 of its option on the 20,000-hectare Antino gold project in Suriname, increasing its stake from 51 to 70 per cent Antino has produced over 500,000 ounces of gold from surface and alluvial mining to date Founders Metals stock has added 113.73 per cent year-over-year, more than doubling gold's approximately 45 per cent effort, and remains up by more than 1,000 per cent since 2022 Ten-bagger Founders Metals (TSXV:FDR) successfully completed all requirements under stage 2 of its option on the 20,000-hectare Antino gold project in Suriname, increasing its stake from 51 to 70 per cent. According to Friday's news release, stage 2 saw Founders make cash payments of US$1.5 million, incur US$10 million in exploration expenses, issue 95,000 shares and produce a conceptual study similar to a preliminary economic assessment, all within two years of completing stage 1 of the agreement. Founders may now either enter a joint venture with Nana Resources, one of the optionors, or proceed to stage 3, which will increase the company's stake to 75 per cent in exchange for incurring another US$10 million in exploration expenses and completing a bankable feasibility study. The company's diligent exploration and development at Antino since optioning the project in 2022, including a steady stream of high-grade gold across numerous mineralized zones, has resulted in an over 1,000 per cent return to date, granting it ten-bagger status with ample room to run on the path to resource delineation. Founders is progressing through a fully funded 60,000-metre drilling program at Antino in 2025. Leadership insights 'We are thrilled to formally exercise our right to acquire 70 per cent of Antino, further strengthening our position as the project's majority owner,' Colin Padget, Founders Metals' president and chief executive officer, said in a statement. 'Completing stage 2 is a major de-risking milestone and reflects our confidence in Antino's exceptional potential. Additionally, we are excited to provide a detailed update in the coming days on all major exploration targets. We remain committed to maximizing shareholder value as we continue advancing the Antino gold project's world-class potential through our 60,000 metre 2025 drill program.' Founders Metals is a Canadian-based junior miner focused on its Antino gold project in Suriname, which has produced over 500,000 ounces of gold from surface and alluvial mining to date. Founders Metals stock (TSXV:FDR) opened with a loss of 1.36 per cent trading at C$4.36. The stock has added 113.73 per cent year-over-year, more than doubling gold's approximately 45 per cent effort. Join the discussion: Find out what everybody's saying about this ten-bagger junior gold stock on the Founders Metals Inc. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Associated Press
21-05-2025
- Business
- Associated Press
Founders Metals Expands Upper Antino; Hits 33.0 m of 3.50 g/t Gold
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2025) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ('Founders' or the 'Company') announces drill core assay results from the Antino Gold Project ('Antino' or 'Project') in southeastern Suriname (Figure 1). The Company reports high-grade gold mineralization at Upper Antino including 33.0 metres (m) of 3.50 grams per tonne (g/t) gold (Au) in drilling east of the Main Froyo Shear ('Froyo'). Additional drilling results extend gold mineralization north 125 m, increasing total strike length of Froyo to ~1.7 kilometres (Figure 2). Drilling Highlights Colin Padget, President & CEO, commented, 'These results clearly demonstrate Upper Antino's growth potential in multiple directions. Gold mineralization continues eastward over substantial intervals while our step-out drilling has successfully expanded the northern boundary by 125 metres. The two broad intervals in hole FR114 align well with our mineralization and structural models and suggest there is potential to 'connect-the-dots' between Froyo and Donut. Additionally, while we have seen some increases in assay turnaround times and have been focusing on certain corporate items, we anticipate releasing additional results from our earlier-stage exploration targets along-side a comprehensive overview in the coming weeks.' Drilling continues to expand Upper Antino gold mineralization and Figure 4 provides a 12-month snapshot showing the growth of the mineralized footprint over that time. In this release, drill hole FR114 intersecting 33.0 m of 3.50 g/t Au, is one of several holes planned to target further eastward growth of Froyo gold mineralization and determine if additional parallel zones link Froyo with the Donut target. Drillhole FR101 intercepted two distinct zones of mineralization with the shallower 22.50 m interval of 0.5 g/t Au beginning at 27.60 m and potentially a new shear as the deeper 12 m of 1.51 g/t Au aligns well with the previously reported 8.0 m of 2.08 g/t Au in hole FR095. These are encouraging intercepts indicating additional northward potential and drill holes are planned further north to continue testing these structures. 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 date 1. 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, Table 1: Drill Hole Assay Results *Intervals are down-hole depths. True widths of mineralization are estimated to be approximately 85% of the down-hole interval based on preliminary results and observations. All are diamond drill holes. Table 2: Drill Hole Location The coordinate reference system is WGS 84, UTM zone 21N (EPSG 32621) [ This image cannot be displayed. Please visit the source: ] Figure 1: Antino Property Map To view an enhanced version of this graphic, please visit: [ This image cannot be displayed. Please visit the source: ] Figure 2: Plan Map To view an enhanced version of this graphic, please visit: [ This image cannot be displayed. Please visit the source: ] Figure 3: Cross-Section To view an enhanced version of this graphic, please visit: [ This image cannot be displayed. Please visit the source: ] Figure 4: Upper Antino Gold Footprint - 12-month Snapshot To view an enhanced version of this graphic, please visit: 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, an independent 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 | [email protected] 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 To view the source version of this press release, please visit
Yahoo
08-05-2025
- Business
- Yahoo
Founders Metals Completes Work Commitment Milestone for Antino Option Agreement
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2025) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") is pleased to announce it has completed the expenditure requirements for Stage 2 of its Option Agreement on the Antino Gold Project in Suriname. The Company has submitted an audited report demonstrating that it has completed the required US$10,000,000 in exploration and development expenditures stipulated in the amended and restated Option Agreement with Lawa Gold N.V. ("Lawa") and Nana Resources N.V. ("Nana"). Upon completing Stage 2, Founders will increase its ownership stake in the Antino Project to 70% (51% from Stage 1 plus an additional 19% from Stage 2). To finalize Stage 2, Founders expects to deliver all payments and the outstanding internal concept study on the project, by month's end (Table 1). "Reaching this major milestone ahead of schedule demonstrates our commitment to rapidly advancing the Antino Gold Project," said Colin Padget, CEO of Founders Metals. "The exploration results to date have exceeded our expectations, and the internal concept study currently being finalized will provide valuable insights into the project's world-class economic potential." Table 1: Summary of Founders' requirements under Stage 2 of the Option Agreement Requirement Details Status Work Expenditures US$10,000,000 Completed Cash Payment US$1,500,000 In Progress - expected completion in the coming weeks Share Issuance 95,000 common shares of FDR Concept Study Delivery of an internal concept study (similar to a preliminary economic assessment) by an independent qualified professional Stock Options and RSU Grant The Company also announces that, pursuant to its Option and RSU Plans, it has granted a total of 2,950,000 Stock Options ('Options') and 1,380,000 Restricted Share Units ("RSUs") to directors, officers, employees, and consultants of the Company. The Options are exercisable at a price of C$4.70 per share and expire five years from the date of grant. Options and RSUs will vest over a period of three years, with one-third vesting on each of the first, second, and third anniversaries from the date of grant. 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, ON BEHALF OF THE BOARD OF DIRECTORS Per: "Colin Padget" Colin PadgetPresident, Chief Executive Officer, and Director Contact Information Katie MacKenzie, Vice President, Corporate DevelopmentTel: 306 537 8903 | katiem@ Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. 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. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
22-03-2025
- Business
- Globe and Mail
Founders Metals Hits 72.0 m of 2.29 g/t Gold at Van Gogh; Extends Mineralization from Surface to 200 m Vertical Depth
Vancouver, British Columbia--(Newsfile Corp. - March 17, 2025) - Founders Metals Inc. (TSXV: FDR) (OTCQX: FDMIF) (FSE: 9DL0) ("Founders" or the "Company") announces further assay results from preliminary drilling at Van Gogh, the most recent high-grade gold discovery at its Antino Gold Project ("Antino" or "Project") in southeastern Suriname (Figure 1). The Company reports 72.0 metres (m) of 2.29 grams per tonne (g/t) gold (Au) extending gold mineralization to approximately 200.0 m vertical depth from surface at Van Gogh. The drilling follows up on the 28.5 m of 7.12 g/t Au interval from 18 m down hole in the first hole reported on February 20 th (news release). Highlights Drill hole VG004 intercepts 72.0 m of 2.29 g/t Au from 177.0 m down hole (Figure 2) Gold mineralization extended from surface (channel - 17.8 m of 5.68 g/t Au), through saprolite zone (VG001 - 28.5 m of 7.12 g/t Au), and into fresh rock down to 200.0 m vertical depth (VG004 - 72.0 m of 2.29 g/t Au) Mineralized interval potentially broadens with depth from surface Completely original discovery with no current or historical artisanal mining within 1.5 km of Van Gogh target area With the success at Da Vinci and Van Gogh, Founders is committed to allocating up to 50% of its 2025 drill metres to high-priority targets in brand new areas 5 th diamond drill operational by mid-year "The latest Van Gogh results further support the tier 1 discovery potential that Antino and our 2025 exploration program represents. Van Gogh is emerging as another key discovery, with characteristics most like Upper Antino," said Colin Padget, President & CEO. "Founders' focus this year is on unlocking the property's full potential and building value for shareholders through systematic discovery and the ongoing expansion of our earlier successes. To this end, we currently have four drills turning full-time and a fifth rig will be operational by mid-year." Geology and Drilling 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 extending through the Maria Geralda target to Lower Antino, and sub-parallel to the main Antino Shear Zone spanning 15+ km from Upper Antino to Da Vinci (Figure 1). Gold mineralization at Van Gogh is hosted within a subvertical mylonite zone with estimated true widths ranging ~25-50+ metres. The mineralized zones comprise broad intervals of intensely sheared, highly silicified country rock containing multiple generations of quartz veining. In VG004, the gold-bearing intervals contain up to 15% sulphide (pyrite) and coincide with moderate to strong sericite-chlorite-ankerite alteration. Drill holes VG002 and VG003 were drilled to test the along-strike continuity of the saprolite (oxide)-hosted gold mineralization from previously reported channel (17.8 m of 5.68 g/t Au) and drilling (VG001, 28.5 m of 7.12 g/t Au) results but are interpreted to have gone over the top of the mineralized structure. VG002 and VG003 logging shows similar broad-scale shearing to that observed deeper in holes VG001 and VG004, however lacked the characteristic sulphide content commonly associated with significant gold mineralization at Antino. In VG004, the steeply dipping gold mineralization occurs in fresh rock over a much broader interval than in the saprolite above (Figure 2), which may have been transported (i.e., slumped) several metres downslope. Follow-up drilling focuses on extending the broad, fresh rock, gold-bearing interval VG004 and incorporates newly acquired downhole structural and surficial mapping data. 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 date 1. 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, Table 1: Drill Hole Assay Results Hole ID From (m) To (m) Interval* (m) Au (g/t) VG004 177.0 249.0 72.0 2.29 and 262.0 271.0 9.0 1.51 VG003 NSA VG002 NSA *Intervals are down-hole depths. True widths of mineralization are estimated to be approximately 85% of the down-hole interval based on preliminary results and observations. Table 2: Drill Hole Location Hole ID Easting (m) Northing (m) Elevation (m) Azimuth (°) Dip (°) Depth (m) VG004 828148.7 395941.3 151.0 259.7 -55.1 343.9 VG003 828066.3 395866.5 135.6 80.0 -49.9 284.1 VG002 828013.0 395949.0 115.2 79.9 -50.1 251.0 The coordinate reference system is WGS 84, UTM zone 21N (EPSG 32621) Figure 1: Property Scale Map with Auger Samples and Van Gogh Drilling Results To view an enhanced version of this graphic, please visit: Figure 2: Van Gogh Cross-Section To view an enhanced version of this graphic, please visit: Figure 3: Van Gogh Core Photos To view an enhanced version of this graphic, please visit: Core photos of Van Gogh drill hole VG004 showing excellent grade distribution throughout the interval from 177.0 m (upper left, left column) to 249.0 m (bottom right, right column). 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, 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@ 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
