FenixOro Gold Corp. [FENX-CSE; FDVXF-OTCQB; 8FD-FSE] reported drill results from the southern vein zone at the 100%-owned Abriaqui project 100 km northwest of Medellin, Colombia. Drill results confirm the discovery of multiple veins that significantly impact management’s expectations of the project’s global resource potential. Continued positive results from the Central Zone are also reported along with a newly discovered style of gold mineralization which is more typical of porphyry gold systems.
Drilling from the first holes in the Southern Vein Zone confirm the presence of mineralization at grades that will impact management’s expectations for the resource potential of the project. The Southern Block Holes 017, 020 and 023 each intersected 7-10 veins with several assays in excess of 10 g/t gold. Silver to gold ratios are significantly higher than in other parts of the property.
Resource potential in the newly defined Central Vein Zone continues to increase with intersections of 1.25 metres of 23.55 g/t gold and 2.40 metres of 5.69 g/t gold in hole 021.
Re-logging of hole 019 in the central zone verified the presence of visible gold associated with actinolite-albite veinlets. This veinlet type is more commonly associated with porphyry gold systems and is rarely mineralized at the grade sampled at Abriaqui (13.7 g/t).
Stuart Moller, VP Exploration, commented, “These results make clear that the resource potential at Abriaqui continues to expand in both the Central Zone and the important Southern Zone. Many of our high priority targets remain to be drilled in the south and the outlook for the growth of the project remains extremely promising.”
Partial results from early drilling in the Southern Zone indicate promising gold and silver grades. Similar to the first holes drilled in the northern block, many more veins were intersected than were known from surface and mine mapping. The area is 200-400 metres higher in elevation than the northern and central blocks and the general structural pattern of E-W and NW trending, sub-vertical veins is developed. The current drill program is limited to two small areas where there are clearings in the dense forest and numerous additional targets based on geophysics and soil sampling will require more preparation in upcoming drilling.
Intercepts from the first three (017, 020, and 023) cut 7-10 veins, several of which had individual samples above 10 g/t gold. Silver values were higher as expected and there were several intervals with up to 20 g/t silver with little accompanying gold. Copper values have not yet been received. This first reconnaissance level drilling to date verifies the presence of potentially ore grade and thickness veins in the south and justifies the continuing effort to expand the permitted area for subsequent drilling.
Infill drilling in the Central Vein Zone clearly shows that it is an extension of the northern zone with little offset across the Cascada Fault. Grades and thicknesses are similar in both areas and the strike extent of the main family of veins has been extended to 1 km.
A total of 11,663 metres have been drilled in 25 holes since 2020 and three main areas totaling well over 100 gold-bearing veins have been delineated. Most work has been done in the block north of the Cascada Fault where two prominent families of sub-vertical veins have been drilled on approximately 200-metre spacing along strike. No 43-101 compliant resources have been calculated but a minimum of 1.6-2.4 million ounces of resource potential have been delineated in the core area of the north block on only four veins. Subsequent to these calculations, drilling in the north and central blocks has extended the main trend to 1,000 metres in strike length and to depths up to 1,000 metres below surface.