Founders Metals (FDN) reported a significant discovery of high-grade mineralization at its Upper Antino project in Quebec, hitting 18.0 meters of 6.00 grams per tonne (g/t) gold during its recent drilling program. This prominent intercept came from drill hole UAT-23-009, which is part of a broader exploration strategy aimed at enhancing resource definition in what has become a highly prospective area.
The drilling also returned additional noteworthy intercepts, including 3.0 meters of 24.60 g/t gold and 1.0 meter of 31.60 g/t gold nearby, underscoring the high-grade potential of the Upper Antino project. The core samples are being analyzed for copper and silver content as well, with results expected to be released in the coming weeks.
“This latest drill hole demonstrates the robust high-grade mineralization we believe exists at Upper Antino,” said Mike Burns, President of Founders Metals. “We are excited about these results and look forward to continuing our work on expanding the resource base.”
The Upper Antino project, located within the prolific Abitibi Mining District, has emerged as a focal point for Founders Metals due to its promising geochemistry and geological framework. The company’s comprehensive exploration plans include further drilling to create a more detailed understanding of the deposit and advance it toward potential development.
Following the current drilling program, results will assist in refining geological models, with the goal of tapping into the area’s gold potential. Founders Metals emphasized its commitment to responsible exploration practices while making efforts to ramp up the drilling intensity to potentially expand the defined resource.
The gold market, buoyed by ongoing global demand and supply constraints, positions the company favorably. As exploration continues, Founders Metals aims to capitalize on the current market climate, potentially increasing shareholder value through resource growth and advancing projects that can cater to an ever-growing appetite for gold.
Looking ahead, the company is also strategizing its operational timeline to ensure the continuation of effective and efficient drilling campaigns. Founders Metals remains keen on advancing the Upper Antino project further, with the aim of achieving tangible results that elevate its standing within the competitive gold exploration landscape. For previous updates on Founders’ results, see coverage of how Founders’ gold results expand high-grade zone at Antino in Suriname.