Founders Metals Inc. (TSXV: FDR, OTCQX: FDMIF) has released promising metallurgical test results from its Antino Gold Project located in southeastern Suriname. This development marks a significant milestone for the company as it continues to advance its exploration efforts in the region.
The metallurgical testing yielded several key highlights that underscore the project’s strong potential for gold production. Notably, the tests revealed impressive average gold recovery rates of 94.9% from fresh rock samples and 95.3% from saprolite. The optimal grind size was determined to be P80 at 50 micrometers, which achieved a peak recovery rate of 95.0%. Additionally, the hardness of the samples was classified as medium, aligning with other gold deposits in the Guiana Shield and indicating favorable processing conditions. Importantly, the tests indicated negligible concentrations of harmful elements, low acid consumption, and no significant preg-robbing, further supporting the viability of conventional processing methods.
Founders Metals is a Canadian exploration firm focused on the development of its Antino Gold Project located in the Guiana Shield region of Suriname. Covering an area of 20,000 hectares, the project has yielded over 500,000 ounces of gold through surface and alluvial mining to date. The company plans to finalize a drilling program totaling 45,000 meters in 2024 and is fully funded for an expansion to 60,000 meters in 2025.
Colin Padget, President and CEO of Founders Metals, expressed optimism regarding these results, stating that they represent a critical step in de-risking the Antino project. He noted that with gold recoveries exceeding 95% and minimal harmful elements detected, the company anticipates a straightforward processing pathway moving forward. Additionally, ongoing exploration is uncovering substantial gold mineralization across the property, with further drill results expected from Upper Antino and other potential targets by year-end.
The initial metallurgical assessments were conducted by Blue Coast Research Ltd. in British Columbia, Canada. This comprehensive study involved five drill core composite samples from the Froyo Gold Zone, along with three tailings samples sourced from historical artisanal mining sites.
Key components of the testing included Comminution Testing, which assessed sample hardness through Bond Ball Mill Work Index (BMWI) tests. The results averaged 13.2 kWh/t for fresh rock samples, indicating a favorable energy consumption profile when compared to other regional deposits.
In addition, Gravity Gold Recovery Tests were performed, where an Extended Gravity Recoverable Gold (E-GRG) test achieved a maximum recovery of 62%. Single-pass Knelson tests demonstrated recoveries ranging from 21.2% to 39.8%, showcasing the effectiveness of gravity methods in gold recovery.
Furthermore, Cyanidation Optimization was a critical aspect of the study. A total of 36 cyanidation tests were conducted to evaluate various parameters, ultimately determining optimal conditions for gold recovery. The ideal setup was found to be a primary grind size of P80 at 50 µm, combined with a sodium cyanide concentration of 0.50 g/L, which enhanced the leaching process for gold extraction.
Testing on three tailings samples from Upper Antino yielded an average gold recovery of 96.8%, with negligible levels of harmful elements detected. This presents a potential opportunity for low-cost mining or early-stage mill-feed scenarios in the future.
Looking ahead, Founders Metals has outlined several key initiatives to enhance their operations. The company plans to conduct mineralogical assessments of both core and leach tailings samples. This will provide valuable insights into the composition and characteristics of the materials involved in their processes.
In addition, Founders Metals intends to perform additional cyanide destruction tests on leach tailings. These tests are crucial for ensuring environmental safety and compliance with regulations. Furthermore, the company will engage in further comminution testing to evaluate deposit-scale variability, which will help optimize their extraction methods.
Finally, acid-base accounting tests will be carried out on core samples, leach tailings, and waste rock. This comprehensive approach will enable the company to better understand the acid-generating potential of their materials and improve overall management strategies. Through these efforts, Founders Metals aims to enhance both the efficiency and sustainability of its operations.
The strong metallurgical results from the Antino Gold Project represent a significant milestone for Founders Metals, setting a solid foundation for future exploration and development activities.
