FenixOro Gold drills 15.71 g/t gold over 0.55 metres of at Abriaqui, Colombia
FenixOro Gold Corp. [FENX-CSE; FDVXF-OTCQB; 8FD-FSE] reported additional drill results, including the deepest intersection of ore grade gold to date on the 100%-owned Abriaqui project, 100 km northwest of Medelin, Colombia.
Hole P014 was drilled to a depth of 1,008 metres and intersected 15.71 g/t gold on the Orquidea vein at an elevation of 1,245 metres. This intersection is 300 metres deeper than any previously known mineralization in the Abriaqui district. Mineralization remains open at depth on all veins intersected to date. This depth will significantly impact the resource potential modelling on all veins.
The minimum proven vertical range of mineralization on the Orquidea vein is now 1,000 metres and the new intersection extends the total vertical range of high-grade gold in the greater Abriaqui system of veins to 1,500 metres.
An intersection of 3.6 metres at 7.26 g/t gold in P014 correlates with the Baul vein and the previously reported 7.7 metres at 8.46 g/t in P006. This correlation makes Baul the next formally modelled vein, significantly increasing tonnage estimates in the northern drill area.
FenixOro vice-president of exploration Stuart Moller commented on exploration results to date: “The 8,000 metres of the first two phases of drilling have given us everything we could have anticipated: multiple mineralized veins with good gold grades, thicker zones of up to 20 metres with potential for eventual low cost bulk underground mining, a much greater than expected vertical extent of mineralization, and multiple new high-quality drill targets in the southeast license and elsewhere. It’s hard to overstate the importance of the deep hit on Orquidea as it puts an additional 300 vertical metres in play for all the veins in the district and the system is still open at depth.”
Phase 2 drilling has ended with a total of 8,062 metres in 16 holes, all in the northwestern licences of the Abriaqui property. Hole P013 tested the southern extension of the northwest vein corridor (NWC). It intersected the Cascada and Santa Teresa veins north of the Cascada fault, but the intersections south of the fault are not yet correlated. Significant
A 3.6-metre intersection with 7.26 g/t gold in the upper part of P014 correlates with the best intersection of the first drill phase, 7.7 metres at 8.46 g/t in P006 and a thinner hit in hole P005 on the Baul vein. The vein, which is open to the northwest and at depth, will be the next formally modelled structure to be included in an eventual resource model. Holes P015 and P016 were drilled from the same platform as infill holes on the NWC and the east-west trending corridor of veins, respectively. Assays are awaited for both holes.
FenixOro Gold is a Canadian company focused on acquiring and exploring gold projects with world-class exploration potential in the most prolific gold producing regions of Colombia. FenixOro’s flagship property, the Abriaqui project, is the closest project to Continental Gold’s Buritica project. As documented in a NI 43-101 technical report on the Abriaqui project, the geological characteristics of Abriaqui and Buritica are similar. Since the preparation of this report, a phase 1 drilling program has been completed at Abriaqui, resulting in a significant discovery of a high-grade, “Buritica style” gold deposit. A phase 2 drilling program has recently commenced.