Antofagasta expects 2024 copper output at low end of yearly forecast
Antofagasta produced 284,700 metric tons of copper in the first half, down 3.7% from the same period in 2023.
Founders Metals (TSXV: FDR) has confirmed the presence of high-grade gold mineralization at its Antino project in southeastern Suriname following initial results from its 2023 drill program. Ongoing drilling continues to focus on extending the upper Antino area’s Froyo zone to depth and along strike.
The early results are highlighted by drill hole 23FRDD003, which intersected 12 metres of 19.22 grams per tonne gold, including 3 metres of 29.90 g/t gold and 2.65 metres of 22.37 g/t gold. Another drill hole returned 4.5 metres core length of 9.92 g/t gold.
According to Founders, the new gold intercepts are potential down-dip and along strike extensions of previously reported high-grade surface grab samples with gold assays of up to 57.84 g/t.
The aim of the 2023 program, comprising up to 10,000 metres of drilling, is to expand several high-grade historical gold zones to depth and along strike within the more than 8-kilometre-long main Antino shear corridor, as well as a series of proximal high-priority targets including previously overlooked intrusion-hosted bulk-tonnage targets.
“The 2023 Antino drill program is off to a great start with smooth drilling, proven fast turnaround on assays, and these terrific early results,” Founders’ CEO Colin Padget said in a news release. “A 12-metre interval of 19.22 g/t gold near surface and in rock below the saprolite demonstrates the tenor of high-grade gold mineralization at Antino and the potential for open-pit mining.”
“With gold mineralization occurring over more than 8 kilometres of strike along the main Antino shear and artisanal mining workings extending another several kilometres to the property’s edge, we see real potential for growth toward becoming a world-class Guiana Shield gold asset,” he added.
Currently at the resource definition stage, the 238 sq.km. Antino property is the most advanced gold exploration project in Suriname, within an area where historical surface/alluvial gold mining has produced over 500,000 ounces of gold to date.
Shares of Founders Metals surged by 8.5% by 11:10 a.m. EDT Friday following the drill results. The Vancouver-headquartered gold junior has a market capitalization of C$16.4 million ($12.4m).
