Founders Metals reported a striking first drill result at the Maria Geralda target in southeastern Suriname: hole MG003 intersected 22.5 metres grading 11.88 grams per tonne (g/t) gold. It is an exploration discovery—not an established gold deposit or mine. The reported interval is measured down the drill hole, and its true width has not been estimated.
Where was the gold discovery?
Maria Geralda is a target within the Antino Gold Project in southeastern Suriname, about 5 kilometres southeast of Lower Antino. Founders Metals describes Antino as a 20,000-hectare (200-square-kilometre) land package. The company places Maria Geralda along a major structural corridor, on a northwest-trending lineament at the boundary between intrusive rocks and mixed metavolcanic-sedimentary formations. These are the issuer’s descriptions of the project and its geological setting.
The June 2025 announcement called Maria Geralda a new discovery because MG003 was the first drill hole at the target. “Once-uncharted” would be misleading: surface prospecting, mapping and auger sampling had already been conducted there.
What did the first drill hole find?
In a June 24, 2025 release, Founders Metals reported that MG003 returned 22.5 metres at 11.88 g/t gold, starting at 18.6 metres downhole. The company said the hole tested a surface gold anomaly approximately 500 by 400 metres. It also reported that 54% of auger samples were above 0.1 g/t gold. These are company-reported exploration results, not independently established resource figures.
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Founders’ President, CEO and Director Colin Padget described the intercept as “some of the highest-grade mineralization we’ve encountered to date.” That is the company executive’s characterization of the result.
Why 22.5 metres downhole is not the deposit’s width
The 22.5-metre figure is the length of the reported interval along the drill hole, not a measurement of the mineralized zone’s true thickness. Founders said true widths had not been estimated for zones outside established project areas because drilling was insufficient. Without that estimate, readers should not treat the intercept as 22.5 metres of mineable thickness.
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A single intercept also cannot establish the deposit’s size, continuity, gold inventory or economic viability. Those questions require further drilling and technical work. The company said the zone was open along strike and to depth and planned step-out drilling, but that statement described exploration potential and intended work at the time of its release; it does not demonstrate continuity or establish what drilling has occurred since.
How the company said the samples were tested
Founders reported that samples were analyzed at FILAB Suriname in Paramaribo using a 50-gram fire assay with an atomic-absorption finish. Samples above 5.0 g/t were re-assayed with a gravimetric finish. The company said it included blanks and certified reference standards, conducted external quality-assurance checks at ALS Global Laboratories in Lima, and maintained a secure chain of custody. It identified FILAB as a Bureau Veritas certified laboratory and ALS as ISO/IEC 17025:2017 accredited.
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The release also said its technical content was reviewed and approved by Michael Dufresne, M.Sc., P.Geol., P.Geo., whom it identified as an independent qualified person under National Instrument 43-101. These procedures and review provide context for the issuer’s reported result; they do not turn an exploration intercept into a mineral resource estimate.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What investors and readers can conclude
MG003 is a notable company-reported gold intercept from the first drilling at a target already identified through surface exploration. It is a reason for further investigation, not evidence by itself that Maria Geralda contains a commercially mineable deposit. The June 2025 release described follow-up drilling as planned; it does not provide a verified current drilling update or an independent resource estimate.
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