Founders Metals Inc. (TSXV: FDR) reported on August 6, 2026 that drill hole FR249 at the Upper Antino target, Antino Gold Project, southeastern Suriname, intersected 28.0 metres of 14.27 g/t gold from 433.0 metres depth — approximately 340 metres vertically below surface.
The hole sits 50 metres down-dip from FR175, which returned 10.0 metres of 5.90 g/t gold from 394.0 metres, as reported in the company's February 11, 2026 release.
President and CEO Colin Padget commented in the August 6 release: "These results demonstrate meaningful high-grade growth potential at Upper Antino. FR249 is one of the strongest holes we've drilled at Antino, returning 28.0 metres of 14.27 g/t gold — grade we have typically seen only within the high-grade Froyo core, now intersected well outside it."
The same release included results from additional holes testing parallel shears across Upper Antino. FR231 returned 3.0 metres of 6.06 g/t gold from 45.6 metres. FR241 returned 56.0 metres of 0.40 g/t gold from 351.0 metres, including an internal section of 10.0 metres of 1.10 g/t gold.
For project trajectory context: the company's April 2, 2026 release reported the first-ever drill hole at Antino North, returning 17.22 g/t gold over 3.6 metres within a broader 24.6-metre interval grading 2.81 g/t gold. A July 15, 2026 mid-year update highlighted a new discovery at Antino Northeast and continued growth at Antino North and Maria Geralda — making Upper Antino one of several active fronts across Founders' 102,360-hectare land package in the Guiana Shield, which the company describes in the release as the largest uninterrupted contiguous block of highly prospective greenstone belt geology in the region.
Founders holds a strategic partnership with Gold Fields Limited. The company had 116,117,366 shares outstanding as of August 7, 2026, per Stockopedia. The most recent available price data — from July 15, 2026 — showed FDR at 4.12 CAD. August 7 trading session price data was not available in sourced filings at publication time.
Per the August 6 release, Upper Antino results will inform ongoing step-out and depth extension drilling across the multi-target Antino district program.