5 minute read - Published 10:00 AM EST, Friday December 20
This article was authored by Peyton Baird of witan nook.
Founders Metals, a Canadian exploration company, is making significant strides in advancing the Antino Gold Project, located in southeastern Suriname within the prolific Guiana Shield Gold Belt. This fully permitted project spans over 20,000 hectares and has a historical gold production of more than 500,000 ounces, for a current market value of $1.9 billion. Positioned in one of the world’s most prospective gold regions, Founders Metals is leveraging its resources and expertise to create value for shareholders through strategic exploration and development. During 2024, Founders Metals Inc., FDR.V on Toronto’s Venture exchange, increased its stock value 258% from ~$1.25 to ~$4.40 a share, creating substantial value for its shareholders. Its market capitalization is $387.5 million as of the date of this article.
Year-to-Date Performance of Founders Metals (FDR.V) | TradeView
The Strategic Location of the Antino Gold Project
Situated approximately 275 km from Suriname’s capital, Paramaribo, the Antino Gold Project is accessible by air via the Antino Camp airstrip or by barge along the Maroni/Lawa River. This logistical infrastructure is critical for efficient operations and underscores the project’s readiness for systematic exploration. A lack of infrastructure often kills mining projects, especially in foreign jurisdictions, but this is not an issue experienced by Founders Metals. Covering a vast 238 square kilometres, the project is embedded in the Marowijne Group’s volcano-sedimentary stratigraphy, a geological setting known to host world-class deposits such as Suriname’s Rosebel Mine (22.1 million ounces of gold for a market value of $83.3 billion) and the Yaou Gold Deposit, located less than 10 km away across the Suriname-French Guiana border.
The Antino Shear Zone, a prominent structural feature of the project, is a kilometre-scale fault system that has been a focal point of artisanal mining for over a century. Despite its historical significance, the zone remains underexplored, presenting Founders Metals with substantial opportunities for new discoveries.
Building on Historical Data and Infrastructure
The Antino Gold Project benefits from a rich history of exploration and mining. Alluvial gold, the most common type of placer gold, and often the richest, was first discovered in the area in 1891, with small-scale open-pit operations beginning in 1999. Historical exploration programs conducted from 1993 to 1997 and 2006 to 2008 resulted in over 32,000 meters of drilling. Founders Metals has acquired and reprocessed extensive historical data, including a high-resolution LiDAR survey and a 1994 airborne geophysical survey, creating a comprehensive dataset for future exploration planning.
The presence of local operators and established infrastructure at the Upper Antino and Buese camps enables cost-effective exploration. Accommodations, heavy machinery, and exploration equipment are already in place, allowing the company to focus its resources on high-priority targets and drilling programs, lowering its operational complexity.
Property Scale Plan Map with Auger Samples | Founders Metals
Exploration Highlights and New Discoveries
Founders Metals’ exploration efforts have already yielded promising results. In a recent announcement, the company reported assay results from the newly discovered Da Vinci prospect at Antino. Key highlights include:
21 meters of 3.24 g/t gold within a broader 67.0 meters of 1.26 g/t gold.
36.0 meters of 2.21 g/t gold.
47.0 meters of 1.07 g/t gold, including 10.5 meters of 3.40 g/t gold from surface.
These results confirm gold mineralization in two parallel shear zones extending over 100 meters of strike and 180 meters of vertical depth. The Da Vinci discovery underscores the project’s potential for high-grade, near-surface mineralization and sets the stage for further exploration.
Core Photos for DV002 Interval 197.0 m – 218.0 m with Gold Assays Labelled | Founders Metals
Creating Shareholder Value Through a Strategic Approach
Founders Metals’ strategy for the Antino Gold Project is rooted in a phased earn-in agreement that allows the company to systematically increase its ownership stake while advancing the project, further decreasing initial expenditures and allowing funding to focus on exploration. Under this agreement, Founders Metals can earn up to a 75% ownership interest by completing specific milestones, including cash payments, share issuances, and exploration expenditures:
First Option Stage (51% Interest): Requires US$1.65 million in cash payments, C$323,000 in share issuances, and US$6 million in exploration expenditures, culminating in a technical report with a minimum of 500,000 ounces of gold in any category.
Second Option Stage (70% Interest): Involves US$1.5 million in cash payments, C$19,000 in share issuances, and US$10 million in exploration expenditures, along with a preliminary economic assessment.
Third Option Stage (75% Interest): Calls for US$10 million in exploration expenditures and the completion of a bankable feasibility study.
This structured approach enables Founders Metals to manage financial risk while progressively unlocking the project’s value.
Leveraging Regional Potential
The Guiana Shield Gold Belt, spanning Suriname, French Guiana, and parts of Brazil and Venezuela, is home to over 110 million ounces of gold resources. The belt’s greenstone formations, characterized by metamorphosed volcanic and sedimentary rocks, provide an ideal geological setting for large-scale gold deposits. Founders Metals’ Antino Project is strategically positioned within this region, leveraging the belt’s proven potential to attract investment and drive exploration success.
The company’s exploration program is designed to capitalize on the region’s geological advantages. High-resolution magnetic surveys, structural mapping, and targeted drilling were part of the 2023 exploration plans aimed at expanding known mineralization and identifying new targets.
Environmental and Social Responsibility
Operating in a region with active artisanal and small-scale mining, Founders Metals is committed to fostering sustainable practices. The company’s exploration activities are designed to minimize environmental impact while contributing to local economic development. By partnering with local operators and leveraging existing infrastructure, Founders Metals supports community livelihoods and reduces the need for new land disturbances.
Founder’s Metals Da Vinci Project | Founders Metals
Conclusion
Founders Metals’ Antino Gold Project represents a compelling opportunity in the global gold exploration sector. With a strategic location in the Guiana Shield, a robust dataset from historical exploration, and a clear path to increased ownership and project advancement, the company is well-positioned to continue to deliver significant value to shareholders. The recent discoveries at the Da Vinci prospect highlight the project’s potential for high-grade gold mineralization, reinforcing Founders Metals’ commitment to unlocking the full potential of this underexplored region.
As exploration progresses, Founders Metals continues to set itself apart as a leader in the junior mining space, combining technical expertise, strategic partnerships, and a dedication to responsible development. For investors, the Antino Gold Project offers not only exposure to a promising asset but also a stake in a company poised to make meaningful contributions to the gold sector.
This article was authored by Peyton Baird of witan nook.
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