Founders Metals Extends Van Gogh Gold Zone to 200m Depth – 72m @ 2.29 g/t Gold
The hits keep coming here as Founders notches another tier 1 hole.
tl;dr:
Back again with Founders Metals (FDR.V). They’re officially north of $6 CAD these days, breaking through ATHs alongside gold. And well-deserved considering the news they’re releasing. 72m of 2.29 gpt Au extending Van Gogh to depths of 200m, after opening it up with 28.5 of 7.12 g/t from 18.6m down.
This is yet another major discovery for Founders, and even more excitingly, the first brand new discovery, without historical workings or exploration to guide them. This certainly bodes well not just for Founders’ mastery of Antino, but the sheer size of the potential on display down here as well.
I also do a little math based on Agentis work to rank Founders’ Antino project globally.
Part 1: The Interview
Time Stamps
01:30 Overview of Van Gogh Discovery and Its Significance to Antino
03:20 Geological Discussion of Holes 1-4 at Van Gogh
09:20 Current and Future Drilling Plans
12:45 PDAC & Suriname Day Insights
15:25 FDR’s Global Ranking for Top Holes and Overall Industry Recognition
16:45 Closing Thoughts
Part 2: The Companion Article
No need to drag on on this one. I cover Founders closely and these results speak for themselves. But the way Founders keeps growing at such an aggressive rate is noteworthy.
And to be honest, I don’t actually think the market is still fully giving FDR credit for what is going on down at its Antino project, crazy though that may seem to say with such a run they’re already on. But I’ve been saying it for over a year now and still think it is true.
Consider:
Van Gogh Zone
Truly greenfield target IDed by FDR
No active or historical mining or exploration.
4 holes drilled and assayed to date.
2 have hit
Hole 1: 28.5m @ 7.12 g/t Au from 18.6 down hole (202.9 gmpt Au)
Hole 4: 72m of 2.29 g/t Au, to 200m depth (164.9 gmpt Au) (with another 9 meters of 1+ g material just below)
Think about that. Four holes on a brand new target have come back with two mineralised hits. In this situation, how many companies would love to get something like 10 meters of 2g/t out of those holes?
And here is Founders pulling down 100.5m at a blended average of 3.66 g/t gold within 200m of surface.
So. Again. That’s two separate “Tier 1” holes out of four assayed so far on a never-before-drilled target, the first totally new discovery for Founders. Look at what they’ve done working around known deposits from artisinal work (everything to date). What are they going to start doing if they start finding things local miners haven’t?
Wild. That’s what I mean about the market still not fully grasping this.
Here’s the cross-section:
What is a “Tier 1” Hole?
At PDAC, I sat in on Suriname Day and had the opportunity to listen to respected analyst Michael Gray of Agentis Capital give his thoughts on Suriname and Founders.
One of his core points was discussing a metric majors use to determine and predict true tier 1 discoveries and projects. That being “total number of 100+ gmpt holes” (where 10m of 10g/t Au = 100gmpt). Michael presented the slide below of Agentis research showing number of 100+ gmpt holes by region on a global scale:
So from Jan. 2024, to Jan. 2025, the Guyana Shield lead the entire world in number of 100+ gmpt holes drilled. More than Yukon, more than BC, more than Argentina, more than Ontario, or Quebec, or Australia. Guyana Shield.
So then I had the thought - how many did Founders drill over that time period? So I headed over to Founder’s Assay Table and took a look.
And, by my count (including Van Gogh 1) Founders had 13 100+ gmpt holes.
Go back and look at that graph now.
Antino as a project, when treated as its own region, ranked 6th globally for number of 100+ gmpt holes.
So Antino just pulled out two separate 100+ gmpt holes within a month of each other from the same zone at separate depths. Which would have been good enough for 10th globally over an entire year.
Conclusion
To finish up - think about what could happen from here this year as laid out in this industry:
A fifth rig turning by mid-year.
Up to 30,000 meters of discovery drilling planned this year. Colin speaks to this well in the interview.
And they have $60 million in the bank.
Gotta say I sleep pretty soundly about this one.
Make sure to check out the summary below if you don’t have time for the whole interview.
Thanks for reading.
-Matthew from JRI
Part 3: The Written Summary
01:30 Overview of Van Gogh Discovery and Its Significance to Antino
Colin describes Van Gogh as a 100% original discovery by Founders.
No historical mining or workings, unlike other areas of the project.
Early results suggest the potential for significant mineralization. Potentially very big ore body.
Katie
Katie highlights the scale of the Antino project and its Tier 1 potential.
Analysts have estimated Upper Antino holds over 2 million ounces, and additional discoveries could quickly expand that number.
“How many Upper Antinos are there?”
03:20 Geological Discussion of Holes 1-4 at Van Gogh
Holes 1 and 4 returned very strong (both 100+ gmpt holes), while holes 2 and 3 missed.
Founders interprets this their simply drilling too shallow. Plan to step back 50 meters and try again.
First hole indicated mineralization at a shallow depth (18 meters down).
Drilling orientation adjusted after analyzing core and structural data.
Future drilling aims to confirm the revised model and optimize targeting.
True Width and Exploration Evidence
Estimating true width at around 80-85%.
Gold mineralization correlates with shearing and sulfide content.
Exploration method involves tracking shear zones and associated sulfide mineralization.
Confidence remains high in the potential for further mineralization.
They believe based on evidence they’re above the target with their 2 misses so far.
Holes 2 and 3 drilled to the east and were above the target. Holes 1 and 4 drilled west and lanced it properly.
09:20 Current and Future Drilling Plans
Three additional holes at Van Gogh are pending results.
Ten holes planned in total before shifting focus to new exploration targets.
Drilling is also ongoing at Lawa, Boise, and Upper Antino.
Plans for systematic exploration through various property zones.
Targeting a broad range of untested structures with potential mineralization.
Meterage
Allocating up to 50% of this year’s drilling meters to new high-priority targets.
Around 30,000 meters of discovery drilling planned. Huge number for pure discovery drilling.
Founders' success allows flexibility to test new targets without heavy market pressure.
Emphasis remains on new discoveries as a primary value driver.
Not aiming to drill off all targets immediately but rather evaluate their potential.
12:45 PDAC & Suriname Day Insights
Founders Metals played a key role in organizing Suriname Day at PDAC.
Strong investor interest in Suriname and the Guyana Shield's mineral potential.
Government participation added credibility and provided regulatory clarity.
Standing-room-only attendance and high enthusiasm for the jurisdiction.
General market sentiment at PDAC was highly positive, driven by rising gold prices.
15:40 FDR’s Global Ranking for Top Holes and Overall Industry Recognition
Founders has contributed around 24-25 of the 100+ gram-meter intercepts from the Guyana Shield.
Places Founders among the top three globally in terms of high-grade discoveries.
Tier 1 miners and M&A players use such metrics to evaluate acquisition targets.
The continued high-grade success solidifies Founders' position as a major exploration success story.
17:00 Closing Thoughts
More drill results expected soon with strong news flow.
Guyana Shield and Suriname gaining prominence in the global gold industry.
Exciting times ahead with new discoveries and expanding resource potential.
