FenixOro Gold Corp is happy to announce drill outcomes from holes P005 and P006 from its not too long ago accomplished 4029 meter Part 1 diamond drilling program on the Abriaqui undertaking in Colombia. Highlights embody: Gap P006 intersected 7.7 meters at 8.46 gt gold together with 0.45 meters at 124.5 gt beneath a robust soil anomaly. That is the very best particular person assay obtained from the drilling to this point. A second vein in P006 …
FenixOro Gold Corp (CSE:FENX, OTCQB:FDVXF, Frankfurt:8FD) is happy to announce drill outcomes from holes P005 and P006 from its not too long ago accomplished 4029 meter Part 1 diamond drilling program on the Abriaqui undertaking in Colombia. Highlights embody:
- Gap P006 intersected 7.7 meters at 8.46 g/t gold together with 0.45 meters at 124.5 g/t beneath a robust soil anomaly. That is the very best particular person assay obtained from the drilling to this point. A second vein in P006 ran 0.75 meters at 14.45 g/t gold
- Seven veins had been intersected in P005 together with 1.35 meters at 12.28 g/t gold. This intercept is the deepest to this point at Abriaqui and it extends the confirmed vertical vary of excessive grade mineralization to greater than 1200 meters.
- The deepest intersection in P005 demonstrates a beforehand unknown connection of mineralization to the intercept on the backside of Gap P001. This mineralized development, southwest of and parallel to the primary Santa Teresa Vein, connects Holes 1 to five with a floor extension of at the very least 150 meters
- The higher 60 meters of each holes had a number of open areas representing beforehand unknown historic mining of carefully spaced veins.
FenixOro CEO John Carlesso said: “These outcomes are a really constructive growth as they open a number of new thrilling prospects for our drilling program. Gap 6 represents an space of beforehand unknown excessive grade gold mineralization demonstrating each the very best grades and the widest zones drilled to this point. Extensions of the parallel development to the primary Santa Teresa Vein add vital potential to the northwest block, which can be a spotlight of Part 2 drilling. We have now now prolonged the recognized vertical extent of the veins to at the very least 1200 meters and it’s nonetheless vast open at depth. Whereas we’re very happy with the success realized to this point, we’re really simply starting to grasp the potential of Abriaqui.”
As seen in Determine 1, Gap P006 was drilled to the south from the identical platform as P005 to check the realm between the northwest trending vein hall (NWC) and the east-west trending hall of veins (EWC) described within the press launch of February 22, 2021. Two vital veins had been intersected: 0.75 meters at 14.45 g/t gold and seven.70 meters of 8.46 g/t gold. The second vein represents one of the best mixture of grade and thickness drilled to this point. The core of the intercept is a single pattern containing 124.5 g/t over 0.45 meters and it’s flanked by a number of meters of veinlet fashion mineralization.
Gap P005 was drilled to the south at a -45 diploma angle to check the 350 meter vast NWC which was intersected in P001. As beforehand reported, 9 veins had been minimize in P001 together with 4.14m @ 5.08 g/t and 1.3m @ 28.18 g/t (summarized in Desk 1). A principal aim of P005 was to check the newly named Santa Teresa Vein system in an space of serious historic mining about 450 meters northwest of the unique intersection in P001. Attributable to vital deviation of the 750 meter gap, the intersection missed the unique goal and the realized vein intercept was modest. Nevertheless, close to the underside of the outlet, a 1.35 meter intercept at 12.28 g/t extends the size of the deepest vein in P001 150 meters to the northwest. This intersection, the deepest to this point at Abriaqui, additionally extends the recognized vertical vary of excessive grade gold mineralization to over 1200 meters.
Within the higher 60 meters of each P005 and P006 a number of open areas had been intersected, a few of which had been stuffed with previous mining particles (Determine 1 and Desk 1). These symbolize previous mined out areas on a set of carefully spaced veins on the western finish of the EWC. No vein samples had been obtainable within the open areas however the veins clearly had excessive sufficient gold grade to draw the efforts of artisanal miners from prior generations. Gap P008 was drilled at a steeper angle to check the veins beneath the previous workings but it surely too intersected open areas. These specific historic mines had been beforehand unknown and are a few of the deepest ever developed within the district. The shut vein spacing mirrors that in gap P003 the place 24 veins had been intersected inside the 250 meter vast EWC.
Remaining outcomes for holes P007 and P008 are anticipated shortly and can be reported when obtainable. The Part 1 diamond drilling program has been completed and the drill was demobilized in early February. Remaining assaying is underway, and all outcomes are anticipated by the top of February. With the proceeds from the latest financing efficiently closed, the Firm is well-positioned to begin the following section of drilling in early March.
Determine 1. Intercepts > 1 g/t gold in holes P001 – P006: https://www.globenewswire.com/NewsRoom/AttachmentNg/29595d03-3ab6-4cbc-bf26-59e23e053961
Desk 1. Drill intercepts from holes P001, P005, and P006: https://www.globenewswire.com/NewsRoom/AttachmentNg/e89a408b-70eb-4c3a-a62a-cece37e8a690
Stuart Moller, Vice President Exploration and Director of the Firm and a Certified Individual for the needs of NI 43-101 (P.Geo, British Colombia), has ready or supervised the preparation of the technical info contained on this press launch. Mr. Moller has greater than 40 years of expertise in exploration for treasured and different metals together with ten in Colombia and is a Fellow of the Society of Exploration Geologists.
Drill core sampling is completed in accordance with trade requirements. The HQ and NQ diameter core is sawed, and half core samples are submitted to the laboratory. The opposite half core together with laboratory coarse reject materials and pattern pulps are saved in safe services on website and/or within the pattern prep lab. Following strict chain of custody protocols, the samples are pushed to the ISO 17025:2017 licensed ALS Laboratory pattern preparation facility in Medellin and ALS ships the ready pulps to their assay laboratory in Lima, Peru. Blanks, duplicates, and authorized reference requirements totaling 15% of the entire samples are inserted into the pattern stream. So far, no materials high quality management points have been detected. Gold is analyzed by fireplace assay with 50 gram expenses for grades in extra of 10 grams per tonne and the extra parts are analyzed by ICP with applicable follow-up for over- limits.
Reported grade intervals are calculated utilizing uncut gold values as the present database is simply too small to calculate statistically legitimate ranges for slicing excessive grade assays. Most pattern size is one meter. Intervals which embody a number of samples are calculated utilizing the total geologic interval of mineralization and will not be topic to particular guidelines for cutoff grades. As such, quoted thickness and grade of those intervals don’t essentially symbolize optimized financial intervals in a possible future mine. Reported pattern and interval widths are primarily based on lengths of particular person samples in core and don’t essentially symbolize true widths of mineralization. True widths will generally be lower than the quoted interval lengths.
The presently reported outcomes might not symbolize full outcomes for a given drill gap as some further sampling could also be required. All materials drill outcomes can be publicly reported in the end no matter when they’re obtained.
The comparability between Abriaqui and the close by Buritica undertaking is supposed solely to point the similarities between the 2 when it comes to geological setting. FenixOro doesn’t indicate that exploration outcomes and/or financial traits of a possible future mine at Abriaqui can be just like these seen at Buritica.
About FenixOro Gold Corp.
FenixOro Gold Corp is a Canadian firm targeted on buying gold tasks with world class exploration potential in essentially the most prolific gold producing areas of Colombia. FenixOro’s flagship property, the Abriaqui undertaking, is situated 15 km west of Continental Gold’s Buritica undertaking in Antioquia State on the northern finish of the Mid-Cauca gold belt, a geological development which has seen a number of giant gold discoveries previously 10 years together with Buritica and Anglo Gold’s Nuevo Chaquiro and La Colosa. As documented in “NI 43-101 Technical Report on the Abriaqui undertaking Antioquia State, Colombia” (December 5, 2019), the geological traits of Abriaqui and Buritica are very related. A 4290 meter Part 1 drilling program has been accomplished at Abriaqui following the completion of floor and underground geological mapping and sampling, in addition to a preliminary magnetometry survey. So far, drilling has been targeted on the northwest block of the property the place two principal units of veins have been recognized. Drill outcomes have returned assays demonstrating a number of intercepts of “Buritica fashion” excessive grade gold mineralization and wider zones of decrease grade mineralization.
FenixOro’s VP of Exploration, Stuart Moller, led the invention workforce at Buritica for Continental Gold in 2007-2011. On the time of its newest report, the Buritica Mine accommodates measured plus indicated sources of 5.32 million ounces of gold (16.02 Mt grading 10.32 g/t) plus a 6.02 million ounce inferred useful resource (21.87 Mt grading 8.56 g/t) for a complete of 11.34 million ounces of gold sources. Buritica started formal manufacturing in November 2020 and has anticipated annual common manufacturing of 250,000 ounces at an all-in sustaining price of roughly US$600 per ounce. Assets, price and manufacturing knowledge are taken from Continental Gold’s “NI 43-101 Buritica Mineral Useful resource 2019-01, Antioquia, Colombia, 18 March, 2019”) . Continental Gold was not too long ago the topic of a takeover by Zijin Mining in an all-cash transaction valued at C$1.4 billion.
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