Founders Metals Expands Upper Antino; Hits 33.0 m of 3.50 g/t Gold
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, P.Geo.
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: https://images.newsfilecorp.com/files/7574/252894_dfc006ac9459eaf6_001.jpg ]
Figure 1: Antino Property Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/252894_dfc006ac9459eaf6_001full.jpg
[ This image cannot be displayed. Please visit the source: https://images.newsfilecorp.com/files/7574/252894_dfc006ac9459eaf6_002.jpg ]
Figure 2: Plan Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/252894_dfc006ac9459eaf6_002full.jpg
[ This image cannot be displayed. Please visit the source: https://images.newsfilecorp.com/files/7574/252894_dfc006ac9459eaf6_003.jpg ]
Figure 3: Cross-Section
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/252894_dfc006ac9459eaf6_003full.jpg
[ This image cannot be displayed. Please visit the source: https://images.newsfilecorp.com/files/7574/252894_dfc006ac9459eaf6_004.jpg ]
Figure 4: Upper Antino Gold Footprint - 12-month Snapshot
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7574/252894_dfc006ac9459eaf6_004full.jpg
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, M.Sc., P.Geol., P.Geo., 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 www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252894
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
6 minutes ago
- Yahoo
Thai-Cambodia Clashes Enter Second Day as US Calls for Ceasefire
(Bloomberg) -- The armed military conflict between Thailand and Cambodia entered a second day, with troops using rockets and artillery to shell targets along their contested border as the US joined other nations in calling for an immediate ceasefire. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom Thailand's government put the death toll from the deadliest clashes in more than a decade at 14, including a soldier. Thai authorities have also said more than two dozen people were injured, some seriously, while Cambodia is yet to report on casualties. The Thai army said Cambodian 'forces conducted sustained bombardment' using heavy weapons, field artillery and rockets through Friday morning, and that it responded appropriately and advised civilians to avoid the conflict zones. Cambodia's defense ministry confirmed shelling overnight and claimed to control the site of three disputed temples, the Khmer Times reported. Read: What's Behind Deadly Thailand-Cambodia Border Clash?: QuickTake The flareup in clashes on Thursday, which included Thai airstrikes on Cambodian military bases using F-16 fighter jets and Phnom Penh's attack on civilian areas in Thailand, followed a months-long border standoff that also pushed Thailand's ruling coalition to the brink of collapse. Thai stocks and baht declined a second day. The baht fell 0.2% to 32.33 per dollar, in line with regional peers, while the benchmark stock index fell as much as 0.6%. The fighting has drawn condemnation from world leaders, with the US saying it was gravely concerned. Read: Cambodia Clash Heaps Pressure on Embattled Thai PM, Boosts Army 'The United States urges an immediate cessation of hostilities, protection of civilians, and a peaceful resolution of the conflict,' State Department deputy spokesman Tommy Pigott told reporters in Washington on Thursday. Burning Man Is Burning Through Cash Elon Musk's Empire Is Creaking Under the Strain of Elon Musk It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme A Rebel Army Is Building a Rare-Earth Empire on China's Border ©2025 Bloomberg L.P. 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
Yahoo
6 minutes ago
- Yahoo
Benz Announces Closing Final Tranche of A$13.5M Financing
Vancouver, British Columbia--(Newsfile Corp. - July 24, 2025) - Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) (Benz or the Company) is pleased to advise that, further to its announcements dated April 15, 2025 and April 27, 2025, in relation to the private placement for 33,750,750 new fully paid CHESS Depositary Interests (CDIs) in the Company at an issue price of A$0.40 (C$0.35452) per CDI to raise A$13,500,300 (C$11,965,315.89) (before costs) (Placement), it has successfully completed Tranche 2 of the Placement (Tranche 2 Placement), being the final tranche of the Placement. As previously announced, Tranche 1 of the Placement consisted of 28,722,000 CDIs at a price of A$0.40 per CDI to raise A$11,488,800 (C$10,182,523.44) (before costs) and was completed on April 27, 2025 (Tranche 1 Placement). Each CDI represents one underlying common share in the Company on a one for one basis. All of the securities issued in connection with the Placement are subject to a statutory hold period in Canada of four months and one day from the date of their issuance. Under the Tranche 2 Placement, which received shareholder approval at the special meeting of the Company's shareholders held on June 27, 2025 (AWST), Spartan Resources Limited (Spartan) subscribed for 5,028,750 CDIs at a price of A$0.40 per CDI to raise A$2,011,500 (C$1,782,792.45) (before costs). Accordingly, Spartan has maintained its~14.91% shareholding in the Company. The participation by Spartan in the Placement is a "related party transaction" as defined under Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Placement is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any CDIs issued to or the consideration paid by Spartan exceeds 25% of the Company's market capitalization. As previously announced, net proceeds from the Placement will be primarily used to accelerate exploration activities at Benz's 100% owned Glenburgh Gold Project, including follow-up RC and diamond drilling programs to test high-grade extensions at Zone 126 and other high priority targets, geological modelling, and associated fieldwork, as well as for the commencement of exploration activities at the Egerton Gold Project, including targeting high-grade near-surface mineralisation with RC drilling, mapping, and geochemical surveys to refine future drill programs. Additionally, a portion of the proceeds will also be used to undertake a scoping study at the Eastmain Gold Mine in Quebec and for general working capital purposes. The Placement remains subject to the final approval of the TSX Venture Exchange. As previously announced, Euroz Hartleys Limited acted as Lead Manager and Tamesis Partners LLP acted as Co-Manager to the Placement, and they were paid a commission in relation to the Tranche 1 Placement in the amount of A$689,328 (C$610,952) (plus GST). No finder's fees or commissions will be paid in relation to the Tranche 2 Placement. Australian dollar amounts disclosed above were converted into Canadian dollars using the Bank of Canada's exchange rate posted on April 15, 2025 of A$1 = C$0.8863. This announcement has been approved for release by the Board. For more information please contact:Mark Lynch-StauntonChief Executive OfficerBenz Mining Corp.E: mstaunton@ +61 8 6143 6702 About Benz Mining Corp. Benz Mining Corp. (TSXV: BZ) (ASX: BNZ) is a pure-play gold exploration company dual-listed on the TSX Venture Exchange and Australian Securities Exchange. The Company owns the Eastmain Gold Project in Quebec, and the recently acquired Glenburgh and Mt Egerton Gold Projects in Western Australia. Benz's key point of difference lies in its team's deep geological expertise and the use of advanced geological techniques, particularly in high-metamorphic terrane exploration. The Company aims to rapidly grow its global resource base and solidify its position as a leading gold explorer across two of the world's most prolific gold regions. To view an enhanced version of this graphic, please visit: For more information, please visit: Forward-Looking Statements Statements contained in this news release that are not historical facts are "forward-looking information" or "forward looking statements" (collectively, Forward-Looking Information) as such term is used in applicable Canadian securities laws. Forward-Looking Information includes, but is not limited to, disclosure regarding the use of proceeds from the Placement, planned exploration and related activities on the Eastmain Gold Mine and the Glenburgh and Mt Egerton projects, including the anticipated benefits thereof, and the final approval of the Placement by the TSX Venture Exchange. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipates", "complete", "become", "expects", "next steps", "commitments" and "potential", in relation to certain actions, events or results "could", "may", "will", "would", be achieved. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to: that the tenements associated with the Glenburgh and Mt Egerton projects that are still pending grant or undergoing the renewal process will be granted and/or renewed, as applicable, in a timely manner and on reasonable terms; all conditions for completion of the Placement, including final approval of the TSX Venture Exchange for the Placement, will be satisfied in a timely manner; the Company will be able to raise additional capital as necessary; the current exploration, development, environmental and other objectives concerning the Company's Projects (including Glenburgh and Mt Egerton) can be achieved; and, the continuity of the price of gold and other metals, economic and political conditions, and operations. Forward-Looking Information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such Forward-Looking Information. Factors that could cause the Forward-Looking Information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at and Accordingly, readers should not place undue reliance on Forward-Looking Information. The Forward-Looking Information in this news release is based on reasonable plans, expectations, and estimates of management as at the date the information is provided, and the Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE. To view the source version of this press release, please visit
CNN
8 minutes ago
- CNN
Astronomer chief people officer, Kristin Cabot, resigns after viral Coldplay video
Kristin Cabot, the chief people officer of Astronomer, has resigned, the company confirmed to CNN Thursday. The resignation comes after Cabot, who oversaw the organization's human resources, and Andy Byron, the then-chief executive of the New York-based tech company, were spotted embracing at a Coldplay concert earlier this month. Byron resigned last week after being placed on leave, according to an earlier statement shared with CNN. The two were seen on a Jumbotron screen – a so-called 'kiss cam' – at a Coldplay concert at Gillette Stadium in Foxborough, Massachusetts, last week, embracing before separating and ducking out of view. 'Whoa, look at these two,' Coldplay frontman Chris Martin quipped at the time. 'Either they're having an affair or they're just very shy.' The video of the two quickly went viral online, along with alleged statements from the ex-CEO acknowledging the situation. Astronomer, however, said on LinkedIn that Bryon had not put out any statement and 'reports saying otherwise are all incorrect.' That statement also addressed the misidentification of a third person seen in the viral clip. 'Astronomer is committed to the values and culture that have guided us since our founding. Our leaders are expected to set the standard in both conduct and accountability,' the statement also read. The data operations company, founded in 2018, acknowledged in a separate statement that 'awareness of our company may have changed overnight,' but its mission would continue to focus on addressing data and artificial intelligence problems. The company said Astronomer's co-founder and Chief Product Officer, Pete DeJoy, would serve as interim CEO. Byron's LinkedIn account is no longer public, and he was removed from the company's leadership page following the announcement, which now lists co-founder DeJoy as CEO. CNN's Lisa Respers France and Auzinea Bacon contributed to this report.
