Founders Metals (TSXV: FDR) has extended a deep high-grade structure at its Upper Antino target in Suriname, reporting an interval substantially wider and higher-grade than the previous hole drilled above it.
Hole FR249 intersected 28.0 metres grading 14.27 g/t gold from 433.0 metres downhole, or approximately 340 metres vertically below surface. The interval represents about 399.6 gram-metres of grade multiplied by reported length.
The hole was drilled roughly 50 metres down-dip from FR175, which returned 10.0 metres grading 5.90 g/t gold from 394.0 metres in results published in February. Founders said the newer result may indicate vertical continuity within a high-grade zone located outside Upper Antino’s established Froyo core.
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FR249 crossed four stacked mineralized structures between 285.0 and 461.0 metres downhole. The three shallower intervals returned 18.0 metres grading 1.04 g/t gold, 24.0 metres grading 0.36 g/t, and 6.0 metres grading 1.62 g/t before the hole entered the main 28.0-metre interval.
The strongest intercept occurred where the mineralized structure crossed a gabbro unit that Founders says widens at depth. The company interprets the gabbro as a favourable host because it fractures where crossed by gold-bearing shears, creating space for mineralized quartz veins.
The reported widths remain downhole measurements, with true widths unknown. Founders also calculated the interval using uncapped assays and a 0.10 g/t gold cutoff, allowing less than 5.0 metres of internal zero-grade dilution. The company said insufficient drilling has been completed to determine appropriate capping levels for high-grade results.
Founders Metals last traded at $4.33 on the TSX Venture, up 7.44% on the day.
