Founders’ Lower Antino emerges as strong gold target

Drilling at Founders Metals’ (TSXV: FDR; US-OTC: FDMIF) Antino project in southeast Suriname confirms the Lower Antino target is forming as a significant gold prospect to complement the main Upper Antino target. Shares rose.

Highlight hole 25LADD041 cut 90 metres grading 1.02 grams gold per tonne from 156 metres depth, the strongest result yet at Lower Antino, Founders reported Thursday. Another hole, 25LADD033, returned about 40 metres at 1.56 grams gold from 29 metres depth.

“The [25LADD041] intercept reinforces our view that this is a large-scale gold system,” Founders CEO Colin Padget said in a release. “With 50 metres of oxide cover and mineralization open to the south, Lower Antino offers both near-surface bulk tonnage potential and high-grade upside.”

Strong start to 2026

The positive results put Founders on the front foot for the year, bolstering its status as one of the most advanced gold exploration companies in Suriname. The company’s progress has drawn the support of Gold Fields (NYSE, JSE: GFI), which backed the explorer with a $50 million (US$68.9 million) investment last November for a 12% stake, and B2Gold (TSX: BTO) that raised its stake in Founders to 6% in 2024.

Shares of the company gained more than 2% to $4.94 apiece on Thursday morning in Toronto, for a market capitalization of $567.7 million. The stock has traded in a 12-month range of $2.53 to $6.25. 

The drill results suggest that Lower Antino’s gold mineralization is spread along several 15 to 90-metre wide, sub-parallel gold zones along a strike length about 2 km long, Founders said.

Consistent wide intercepts

Results from such holes as 25LADD041 and 25LADD033 demonstrate consistent grade over wide intercepts. They also show oxide potential, with average saprolite rock thicknesses of 50 metres across the target area offering possible scalable oxide gold mineralization.

High-grade trench results about 800 metres south of the Lower Antino drill area also show southward growth potential.

The Antino project is located 275 km south of the Suriname capital, Paramaribo, and sits across the Lawa River from French Guiana. About 500,000 oz. of artisanal gold has been produced from the site historically.