Fenixoro Gold Corp. [FENX-CSE] reported drill results from holes P005 and P006 from its recently completed 4,029-meter Phase 1 diamond drilling program at the Abriaqui Project in Colombia.
Hole P006 intersected 7.7 metres at 8.46 g/t gold, including 0.45 metres at 124.5 g/t gold beneath a strong soil anomaly. This is the highest individual assay received from the drilling to date. A second vein in P006 ran 0.75 metres at 14.45 g/t gold.
Seven veins were intersected in P005 including 1.35 metres at 12.28 g/t gold. This intercept is the deepest to date at Abriaqui and it extends the proven vertical range of high-grade mineralization to more than 1,200 metres.
FenixOro CEO John Carlesso stated: “These results are a very positive development as they open several new exciting possibilities for our drilling program. Hole 6 represents an area of previously unknown high grade gold mineralization demonstrating both the highest grades and the widest zones drilled to date. Extensions of the parallel trend to the main Santa Teresa Vein add significant potential to the northwest block, which will be a focus of Phase 2 drilling.”
Hole P006 was drilled south from the same platform as P005 to test the area between the northwest trending vein corridor (NWC) and the east-west trending corridor of veins (EWC). Two significant veins were intersected: 0.75 metres at 14.45 g/t gold and 7.70 metres of 8.46 g/t gold. The second vein represents the best combination of grade and thickness drilled to date. The core of the intercept is a single sample containing 124.5 g/t over 0.45 metres and it is flanked by several metres of veinlet-style mineralization.
A principal goal of P005 was to test the newly named Santa Teresa Vein system in an area of significant historical mining about 450 metres northwest of the original intersection in P001. The intersection missed the original target and the realized vein intercept was modest. However, near the bottom of the hole, a 1.35-metre intercept at 12.28 g/t gold extends the length of the deepest vein in P001 150 meters to the northwest. This intersection, the deepest to date at Abriaqui, also extends the known vertical range of high grade gold mineralization to over 1200 meters.
With the proceeds from the recent financing successfully closed, the Company is well-positioned to commence the next phase of drilling in early March.