Source: Founders Metals
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  • Founders Metals (FDR) recently completed its 2021 drill program at the Elmtree gold project
  • The 2021 program was intended to confirm and expand historical gold mineralization at Elmtree
  • It consisted of 2,311 metres of drilling in 18 holes across the property
  • Drilling identified up to 2.06 g/t gold over 24.8 metres
  • The company also collected over 3,700 soil samples and more than 160 rock grab samples
  • Founders Metals is a Canadian exploration company focused on advancing the Elmtree Gold Project in northeastern New Brunswick
  • Shares in Founders Metals (FDR) are steady, trading at $0.28 per share

Founders Metals (FDR) recently completed its 2021 drill program at the Elmtree gold project in northeastern New Brunswick.

The 2021 program was intended to confirm and expand historical gold mineralization at Elmtree and consisted of 2,311 metres of drilling in 18 holes across the property.

Drilling identified gold mineralization in four holes, intersecting areas of up to 2.06 g/t gold over 24.8 metres.

In addition to the extensive drilling, Founders Metals completed an 855-line-kilometre high-resolution magnetic survey as part of the 2021 program.

The company also collected over 3,700 soil samples and more than 160 rock grab samples, results of which are expected in early 2022.

Once received, the 2021 surface sampling results will be combined with the geophysical data to generate additional drill targets on the property.

John Williamson, CEO of Founders Metals, commented on the results.

“Detailed soil and geophysical data indicate the potential for additional gold mineralization,” he said, adding that “Early drill results show that the grade and continuity of the gold deposit are commensurate with historical work.”

“We look forward to receiving the remaining results and planning for 2022,” concluded Mr. Williamson.

Founders Metals is a Canadian exploration company focused on advancing the Elmtree Gold Project in northeastern New Brunswick.

Shares in Founders Metals (FDR) are steady, trading at $0.28 per share as of 11:40 am EST.

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