Can you give us a quick overview of Founders Metals as a company and its journey to date?
Founders Metals (TSXV:FDR) was originally formed in early 2021 and we focused on its 100% owned 1,063ha Elmtree Gold Project in New Brunswick. Although the property has very strong potential, the company intends to spin off or sell the project, as it has shifted 100% of its focus to the Antino gold project in Suriname.
Founders Metals has been focusing on its flagship project, the Antonio Gold Project in Suriname, South America. As a Canadian-based exploration company, what led Founders Metals to Suriname?
I was searching for opportunities in Western Africa. It was through a colleague that I was introduced to the Antino gold project in South America’s Guiana Shield (which has similar gold-rich geology to the West African Birimian Shield). It was owned by another junior mining company that wanted to divest the Antino project and focus on a deposit it owns in neighbouring French Guyana. Founders Metals finalized the acquisition of the option on the property in March of last year.
The fully permitted Antino Gold project covers over 20,000ha with historical production of over half a million ounces of gold. What insights has Founders Metals gained from the historical production?
The Founders Metals geological team was attracted to the project due to the historical workings. Understanding that a 0.5Moz were produced and reported by artisanal contractors (20%-30% recovery), just by scraping the surface, our team believed that there was tremendous potential with a modern and strategic drill programme to uncover a world class resource or multiple resources on this property.
What makes the Suriname/the Guiana Shield a favourable region for gold exploration and production?
Separated by continental drift, the Guiana Shield and the West African Birimian Shield share the same gold-rich geology. The Guiana Shield has a current gold inventory of 110Moz of gold, compared to the over 275Moz in West Africa. The majority of the Guiana Shield has seen little to no modern exploration, provided considerable opportunity for major discoveries.
How does the company see itself contributing to the sustainable development of the mining sector in Suriname and beyond?
Founders Metals is actively working with local and federal officials to ensure the company is being a strong and proactive corporate partner, by providing employment opportunities, significantly improved and more environmentally friendly processing techniques, environmental and wildlife monitoring, and an appropriate and thorough reclamation plan.
Looking ahead, what are Founders Metals’ broader perspectives on the future of gold in the market?
Founders Metals has been fortunate to attract a loyal and interested investor base, which has allowed the company to demonstrate a significant stock value increase in conjunction with the delivery of strong drill results. Many gold pundits are predicting a strong appreciation in the value of gold as central banks decrease interest rates around the world later this year. It is expected that with an increase in gold prices, that there will be an influx of investors looking for solid junior gold opportunities, and we expect Founders to be included in that basket of companies.
What are the next steps for Founders Metals? Are there any significant targets that investors should look out for in the next 6-12 months?
The company will continue to drill and expects to significantly expand on the gold mineralization it is already seeing. A maiden resource is expected in early 2025.
