(Kitco News) - Kitco Mining has announced Colin Padget, CEO of Founders Metals, as its 2024 CEO of the Year in the Non-Producer category, recognizing a year marked by significant exploration success for the company. The award was presented at the Prospectors and Developers Association of Canada (PDAC) conference in Toronto.
In an interview with Kitco Mining's Paul Harris, Padget reflected on Founders Metals' "outstanding year" in 2024, which included notable exploration discoveries at their Antino project in Suriname and an increased investment from B2Gold.
When asked about the highlight of the year, Padget, a geologist by training, told Kitco Mining, "The big thing was just all of the discoveries, and as a geologist, getting to make so many discoveries and get to test so many things is exciting."
The addition of experienced individuals like Chris Taylor to the board and Katie MacKenzie to the team also played a crucial role in the company's progress.
The new members "really broadened the team and made a big difference in us pushing it forward," Padget said on the sidelines of the PDAC 2025. He also spoke of the mentorship he receives from Taylor, saying, "I learned a lot and have learned a lot from Chris."
Taylor is the Founder, President, and CEO of Great Bear Resources. He led the company to a major district-scale gold discovery in Canada, culminating in its acquisition by Kinross Gold for C$1.8 billion.
Fueling their exploration efforts, Founders Metals has successfully raised significant capital, allowing them to pursue ambitious drilling programs.
Padget explained that having more funds alleviates the pressure of constantly raising capital and enables the company to "test completely new things," which is "fairly rare" for exploration companies.
Founders Metals has planned a 60,000-meter drilling program for 2025, which will focus on expanding known discoveries and testing new targets.
The Antino project in Suriname has garnered attention due to its high-grade drill results. From a geological perspective, Padget highlighted the presence of a "big shear zone nearby, crustal-scale type shear zone" as a key factor in Antino's potential for orogenic gold deposits. He described the geological setting as "a textbook example of where you'd want to be if you're looking for orogenic gold."
The 2025 drilling program will dedicate about half of its meters to expanding on existing discoveries along these "main trends," with the other half focused on "brand new targets, brand new discoveries."
B2Gold's increased investment in Founders Metals signifies growing confidence in the company's prospects. Padget emphasized the value of this relationship, noting that as a "young team" focused on exploration, having access to the "toolkits" and understanding of a more established company is beneficial.
Looking ahead, Founders Metals is prioritizing exploration to fully understand the potential of the Antino project before considering any major transactions.
Padget stated that with the 2025 roadmap focused purely on exploration, "we're still trying to unlock or understand what, what the number is or what the value is at Antino."
The goal for the year is to test the highest priority targets across their 200 square kilometer land package, which will inform future decisions about resource estimation and development plans.
A big congratulations to Founders Metals' @FoundersMetals Colin Padget, the winner of Kitco's Mining @KitcoMining CEO Of The Year 2024 ? in the Non-Producer category
Catch all our #mining interviews here - https://t.co/TzjoVAE9Wz pic.twitter.com/bxSfDDfPX2— Kitco Mining (@KitcoMining) March 10, 2025