Founders Metals Inc.
Company Data
| Introduction
| Projects in Hand
| Management
News Update
| Chinese
| Address ： |
1075 West Georgia Street, Suite 1050 Vancouver, BC Canada V6E 3C9 |
| Tel No.： | 306-537-8903 |
| Web Site： | www.fdrmetals.com |
| E-mail： | katiem@fdrmetals.com |
| Contact Person： | Katie MacKenzie |
| Position： | VP, Corporate Development |
| Traded Market： | TSX-V | OTCQX | FSE |
| Traded Symbol： | FDR | FDMIF | 9DL0 |
| Outstanding Shares： | ~99.36 million |
| 52 Week High： | $ 6.25 |
| 52 Week Low： | $ 1.38 |
| Present Price： | Click Here |
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. The fully permitted Antino Gold project covers over 20,000 hectares and has produced over 500,000 ounces of gold from surface and alluvial mining to date. The Company is fully financed for up to 60,000 metres of drilling in 2025.
The Guiana Shield is home to numerous world-class gold deposits with combined gold resources of over 110 million ounces. The majority of the Guiana Shield has seen little to no modern exploration, providing considerable opportunity for major discoveries.
Antino Gold Project, Southeastern Suriname
The Guiana Shield’s Next Major Gold Camp
- Antino is an advanced stage gold exploration project located in Sipaliwini mining district of mining friendly Suriname, approximately 275 kilometres southeast of the capital Paramaribo.
- 20,000 hectare land package fully permitted for exploration drilling and exploitation
- Excellent access to the project with barge access and a fully serviced 1.3 km commercial airstrip on site
- Capital efficient exploration with year around drilling at an all-in cost of ~C$250/m
- 32,000 m of historic drilling and 500,000+ oz Au reported from historical artisanal gold mining
- C$12.1M strategic investment by B2Gold in October 2024
- Pro-mining jurisdiction with favourable tax and mining laws
- Highly prospective geology for gold that is similar to Merian characterized by folded volcanic and sedimentary rocks
- Proven potential with a long history of gold production occurring in the same stratigraphy hosting numerous multimillion ounce gold deposits in the region
- Multiple km-scale targets remain untested
- High-grade gold mineralization from surface
- Additional economic potential in historical tailings
- Excellent preliminary metallurgical testing with recoveries ranging from 91% to 96%
Antino drill results to date:
- 15.5 m of 30.72 g/t Au
- 38.0 m of 10.90 g/t Au
- 46.0 m of 5.31 g/t Au
- 19.0 m of 14.23 g/t Au
2025 Exploration
- Fully funded 60,000 m drill program
- Drilling focused on testing 9 new targets
- One of which was tested so far in 2025, resulting in the first hole intersecting 28.5 m of 7.12 g/t Au
- Airborne geophysical survey
- Geological mapping
2025 Exploration Strategy
Upper Antino
The focus at Upper Antino is continuing extending gold mineralization to the north and south and to test adjacent targets with similar characteristics. Gold mineralization at Upper Antino currently has a drill defined strike length of 1.6 km, depth of 280 m, and remains open in all directions. The Company plans to complete up to 20,000 m of drilling at Upper Antino in 2025.
Buese and Lower Antino
A second drill will split its time between Buese and Lower Antino, continuing to expand known mineralization with broad steps along strike. This program will be designed to determine the extent of the Buese and Lower Antino areas’ mineralized footprint. There is currently ~8,000 m of planned drilling between these two more advanced targets.
Da Vinci, Lawa, and other advanced targets
Initial 2025 plans at Da Vinci include a 3,000 m program to follow up on initial results from December last year. Da Vinci is a high-priority early exploration target for 2025. A maiden drill program at Lawa is planned to begin in H1 2025. Other advanced targets for 2025 drilling including, Maria Geralda and Parbo.
Van Gogh and new targets
A 1,500 m program at Van Gogh is underway and once complete the drill will continue to the next high-priority target in the area with the goal of drill testing 1-2 new drill targets per month.
Combined, up to 25,000 m of drilling is planned for new target areas at Antino. Approximately 50% of these targets are within previously unexplored regions of the property. Additional drills are available and may be added to the program as necessary based on results.
Management and Directors
Colin Padget, President, CEO, & Director
Mr. Padget has over 10 years of experience working on and managing exploration and mining projects across several North and South American jurisdictions. He holds a Bachelor's degree in Business Administration alongside a first-class Bachelors and a Masters degrees in Geology. Prior to joining Founders as CEO, he was a Senior Geologist at Thesis Gold.
Pascal Voegeli, Vice President of Exploration
Mr. Voegeli is an exploration geoscientist with experience working on epithermal, porphyry, and orogenic gold deposits across several jurisdictions in North and South America. He holds a Bachelors and Masters degree in Geology. Prior to joining Founders Metals Inc., Mr. Voegeli played an active role in developing grass roots to advanced stage exploration programs as a consultant as well as an employee for Natural Resources Canada.
Sam Yik, Chief Financial Officer
Mr. Yik has a diverse business background and over 25 years of public company experience in industrial sectors including resources, petrochemicals, technology, and transportation. He also has extensive international hands on management experience in senior financial, commercial, and operational roles in companies with market capitalization ranging from $10 million to $2 billion, including 11 years with Methanex Corporation. He brings over 10 years of CFO experience in managing publicly listed companies on the TSX, TSXV, and the NYSE-MKT. He has a Bachelor of Commerce degree from the University of British Columbia, and obtained his CA designation while articling with KPMG.
Natalie Senger, Vice President of Resource Development
Ms. Senger is a Geoscientist and has over 15 years of experience in exploration and resource development with gold-dominant deposits, as well as in permitting major mines. She holds a bachelor's degree in Earth and Ocean Science and masters degree in Earth and Environmental Sciences.
Katie MacKenzie, Vice President of Corporate Development
Ms. MacKenzie is experienced in investor relations & capital markets, with a background of advancing gold assets through exploration and development. She holds a BSc in Geology from the University of Regina.
Chris Taylor, Director
Mr. Taylor is a structural and economic geologist with over two decades of experience in both junior exploration and mid-tier mining companies. As the Founder, President, and CEO of Great Bear Resources, he led the company to a major district-scale gold discovery in Canada, which culminated in its acquisition by Kinross Gold for C$1.8 billion. He has received numerous prestigious awards, including PDAC's 2023 Bill Dennis Award, Northern Miner's 2021 Mining Person of the Year, and Kitco's 2021 Mining CEO of the Year.
Kevin Vienneau, Director
Mr. Vienneau is a mining engineer and entrepreneur with over 15 years of mineral exploration and mine development experience. He has been involved in the Elmtree Gold Project since 2004. He is heavily involved in permitting and negotiating with stakeholders on New Brunswick projects. He has a proven track record for advancing projects toward production.
Nick Stajduhar, Director
Mr. Stajduhar is an accomplished financial industry professional with more than 15 years of experience in all aspects of sales and operations. He is a highly knowledgeable market professional with a proven track record in the capital markets.
Roy Bonnell, Director
Mr. Bonnell has founded and been chairman, CEO, or Director of numerous capital, exploration, and technology companies over 25 years. He is a member of the Law Society of Upper Canada and holds an LLB from University of Western Ontario, a London School of Economics MSc, and an MBA from McGill University.
On May 08, 2025, Founders Metals Inc. has completed the expenditure requirements for Stage 2 of its option agreement on the Antino gold project in Suriname. The company has submitted an audited report demonstrating that it has completed the required $10-million (U.S.) in exploration and development expenditures stipulated in the amended and restated option agreement with Lawa Gold NV and Nana Resources NV.
Upon completing Stage 2, Founders will increase its ownership stake in the Antino project to 70 per cent (51 per cent from Stage 1 plus an additional 19 per cent from Stage 2). To finalize Stage 2, Founders expects to deliver all payments and the outstanding internal concept study on the project by month-end (see the table below).
"Reaching this major milestone ahead of schedule demonstrates our commitment to rapidly advancing the Antino gold project," said Colin Padget, chief executive officer of Founders Metals. "The exploration results to date have exceeded our expectations, and the internal concept study currently being finalized will provide valuable insights into the project's world-class economic potential."
On April 23, 2025, Founders Metals Inc. announced the new assay results from the Buese Prospect ("Buese") at its Antino Gold Project ("Antino") in Suriname. Buese covers over 600 hectares (ha) and is ~6 kilometres (km) southeast of Upper Antino (Figure 1). The Company reports 6.0 metres (m) of 2.33 grams per tonne (g/t) gold (Au) (BU025) in northwest step-out drilling along strike of the main Antino Gold Trend. Combined with further broad intervals of intrusion-hosted gold mineralization including 21.6 m of 2.38 g/t Au (BU014) and 112.0 m of 0.55 g/t Au (BU019) in the central Buese area, the step-out drilling indicates significant potential for further growth.
Colin Padget, President & CEO, commented, "These results demonstrate the scale and continuity of gold mineralization emerging at Buese. The broad, intrusion-hosted intervals, along with the discovery of a parallel zone, further reinforces our excitement about the opportunity Buese represents for Founders. Work is ongoing to further understand the potential economic opportunity that the Buese tailings may offer in future production scenarios, and we are encouraged by initial results. Though we have experienced some slowdown in assay turnaround time due to the increasing exploration activities in Suriname, we are still on track to hit our 60,000-metre drilling goal for 2025. Upcoming news will include some in-progress corporate items along with more drilling results."
On April 10, 2025, Founders Metals Inc. recently published a peer-reviewed scientific journal article providing new insights into the structural controls on gold mineralization at the Antino gold project and surrounding area in southeastern Suriname. Ore Geology Reviews published "District to Mineral-Scale Geometry of the World-Class Antino Orogenic Gold System, Southeastern Suriname (Guiana Shield)," written by Founders Metals' chief geologist, Vincent Combes. You can access a downloadable version of the paper on-line.
Colin Padget, Founders' president and chief executive officer, commented: "This research underscores the significance of integrating district- to mineral-scale geological data to refine gold exploration strategies at Antino. The company's success to date has been predicated on having a solid geological understanding of the area, which continues to be further defined with ongoing exploration. Our strategy for 2025 remains focused on expanding the more advanced targets along strike and at depth, and testing new prospective areas."
Key takeaways of publication:
- Gold mineralization in the Antino district is preferentially hosted within shear zones and intermediate intrusive bodies at lithological boundaries;
- Key deformation events created extensive veining, brecciation and shear zones, all of which are important pathways for gold mineralization;
- Later-stage deformation played a crucial role in the high-grade concentration of gold at Antino;
- Confirmation that the location and shape of tonalite-trondhjemite-granodiorite (TTG) complexes are important in strain accumulation and distribtution at Antino.
April 10, 2025, Founders Metals Inc. has appointed Barry Macdonald to the company's board of directors as an independent director.
Founders Metals president and chief executive officer Colin Padget commented: "We are pleased to welcome Barry to Founders' board of directors. His extensive experience in finance and corporate governance will be invaluable as we continue to grow."
Mr. Macdonald is a fellow of the Chartered Professional Accountants of British Columbia and a retired partner at PwC, with over 40 years of experience in strategic governance, international tax, mergers and acquisitions and corporate finance. He is the current board chair of the Simon Fraser University UniverCity Real Estate Trust and Truvera Trust & Mortgage Corp. Mr. Macdonald was the 2018/2019 chair of the board of the Chartered Professional Accountants of British Columbia, where he led its board of 17 directors governing 35,000 members. He is currently the British Columbia executive of the Institute of Corporate Directors.
On March 17, 2025, Founders Metals Inc. has released further assay results from preliminary drilling at Van Gogh, the most recent high-grade gold discovery at its Antino gold project in southeastern Suriname. The company reports 72.0 metres of 2.29 grams per tonne gold extending gold mineralization to approximately 200.0 metres vertical depth from surface at Van Gogh. The drilling follows up on the 28.5 metres of 7.12 grams per tonne gold interval from 18 metres downhole in the first hole reported on Feb. 20, 2025. It drilled 72 m of 2.29 g/t Au at Antino.
"The latest Van Gogh results further support the Tier 1 discovery potential that Antino and our 2025 exploration program represents. Van Gogh is emerging as another key discovery, with characteristics most like Upper Antino," said Colin Padget, president and chief executive officer. "Founders' focus this year is on unlocking the property's full potential and building value for shareholders through systematic discovery and the ongoing expansion of our earlier successes. To this end, we currently have four drills turning full-time and a fifth rig will be operational by midyear."
February 24, 2025, Founders Metals Closes $2.6M Financing with B2Gold
https://www.fdrmetals.com/news/founders-metals-closes-c26m-financing-with-b2gold
February 20, 2025, Founders Metals Closes C$32.5 Million Bought Deal Financing
https://www.fdrmetals.com/news/founders-metals-closes-c325-million-bought-deal-financing
February 20, 2025, Founders Metals Hits 28.5 m of 7.12 g/t Au in First Drill Hole at Van Gogh Discovery
The Company announced the first assay results of its 2025 drilling campaign and a new drill-confirmed high-grade gold discovery at Van Gogh intersecting 28.5 m of 7.12 g/t Au from 18.6 m in the first drill hole at Van Gogh. The drilling follows up on high-grade channel sampling results reported on January 21st.
January 21, 2025, Founders Metals Makes First High-Grade Gold Discovery of 2025; 17.8 m of 5.68 g/t Au at Surface in New Zone
Founders Metals announced a new high-grade gold discovery, the Van Gogh Zone, 1.8 km west of the Lawa Prospect, at the Antino Gold Project. The Company highlights grab sample results with assays ranging from 1.5 to 66.8 g/t gold (Au), and 17.8 m of 5.68 g/t Au in the first channel sample over the newly identified high-grade structure. The discovery highlights an emerging, multi-kilometre parallel gold trend east of the main >15 km Antino structure. The Company recently began drilling the new zone as the first of more than ten new high-priority drill targets planned for 2025.
December 11, 2024, Founders Metals announced drill core assay results from the first five holes at the newly discovered Da Vinci prospect at the Antino Gold Project, where gold mineralization occurs from surface over two broad shear zones including, 21 m of 3.24 g/t gold (Au) within a broader 67.0 m of 1.26 g/t Au and 36.0 m of 2.21 g/t Au.