Founders Metals Drills 6.0 m of 21.43 g/t Gold Near Surface; 10.0 m of 5.90 g/t Gold at Depth
Suriname Explorer Drills High-Grade Core as Shares Trade Below Major Strategic Entry Levels
The news release dated February 11, 2026, reports diamond drilling results from 19 holes at the Upper Antino target within the Antino Gold Project in Suriname. Key intercepts include hole FR183, which returned 6.0 meters of 21.43 g/t Au near the surface (49m depth), and hole FR175, which intersected 10.0 meters of 5.90 g/t Au at a depth of 394 meters. Management notes that these results track mineralized structures along strike and successfully extend the high-grade system deeper. The drilling confirms both high-grade continuity within the Froyo shear and broad mineralized intervals (e.g., 19m of 2.57 g/t Au and 21.4m of 2.74 g/t Au) that suggest potential for bulk-tonnage mineralization.
This news is materially positive for the geological model of the Antino Project. It demonstrates that the high-grade "shoots" identified in shallower drilling persist to nearly 400 meters vertical depth, which is essential for building a significant resource. The combination of near-surface high grades (21.43 g/t) and deep continuity reduces the risk that the system is a shallow "rootless" deposit. However, the market impact is currently muted by technical selling pressure; notably, the current share price of $3.63 is roughly 12% below the $4.15 price paid by Gold Fields in their $50 million strategic investment in November 2025. This suggests that while exploration is succeeding, the market has yet to re-rate the company following its massive land consolidation in January 2026.
Founders Metals is a Canadian explorer focused on the Guiana Shield. Its flagship is the Antino Gold Project in southeastern Suriname, which now covers over 102,000 hectares following the consolidation of the Antino expansion and Okasi concessions in early 2026. The project is located in a region with over 500,000 ounces of historical artisanal production. The company is primarily targeting orogenic gold mineralization hosted within shear zones and tonalitic intrusions.