FenixOro Gold Corp. (FENX: CNX)
FenixOro Gold Corp (CSE:FENX,OTCQB:FDVXF,FWB:8FD) is a resource exploration company focused on developing the Abriaqui gold project located in the Upper Miocene Belt of Colombia. The area is renowned for its gold resources, including Continental Gold's Buritica gold mine, which hosts measured and indicated mineral reserves of 5.58 million gold equivalent ounces in addition to 6.24 million gold equivalent ounces in the inferred category. Continental Gold was acquired by Zijin Mining Group Co. for C$1.4 billion in March 2020.
Moving forward, FenixOro is working towards securing the final permits for a 6,000 meter diamond drill program designed to explore the main area of vein development across the western part of the project. The company received its drilling permit for the Abriaqui project in September 2020. FenixOro has been declared an essential business by the local community and has received an exemption from COVID lockdown restrictions, allowing the exploration program to remain operating under certain protocols.
FenixOro’s Company Highlights
- Developing the Abriaqui project located in the Upper Miocene Belt of Colombia
- Upper Miocene is 150 km northwest of Medellin, home to 80 million ounces of gold discovered in the area since 2007
- Abriaqui is the closest project to Continental's Buritica gold mine, located only 15 km away
- Over 15 percent of vein samples at Abriaqui have returned assays of greater than 20 g/t gold
- Extensive US$2.9 million exploration program began in 2020 including expanded ground magnetometry with 3D modeling, soil sampling, alternation mapping and channel sampling
- Received drilling permit for the Abriaqui project in September 2020
- In October 2020, discovered new targets in the southern block of the Abriaqui project
FenixOro’s Abriaqui Project
FenixOro's Abriaqui project is located in the Upper Miocene belt of Colombia, approximately 150 kilometers northwest of Medellin. The Upper Miocene region is home to approximately 80 million ounces of new gold discoveries made since 2007. The Abriaqui project shares geological similarities with and is the closest to Continental Gold's Buritica mine, which is located only 15 kilometers away.
Exploration Program FenixOro has begun an extensive fully funded US$2.9 million exploration program in 2020, including expanded ground magnetometry with 3D modeling, soil sampling, alternation mapping and channel sampling. In September 2020, the company officially received authorization and launched the drilling program at the Abriaqui project. Phase 1 of the program includes 4,500 meters of the budgeted and fully funded 6,000 meters of the initial program, and aims to test the sequence of mesothermal veins and geophysical anomalies in the northwestern part of the project. The Abriaqui Project sits in a highly prolific belt where gold deposits have been actively discovered over the last 10 years. Drilling of the project aims to test a range of Buritica style families, including sub-vertical, high grade and mesothermal veins in the northwest and east west trending corridors of up to 400 meters wide and 1,200 meters long. In October 2020, the company discovered additional targets in the southern block of the project. The latest discovery target is 1,200 meters from where drilling is already taking place and increases the total known mineralization to an area of 2.5 km by 1 km. Additionally, the target is situated at an elevation of 500 meters higher than where drilling is currently taking place.
FenixOro’s Management Team
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The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with FenixOro and seek advice from a qualified investment advisor.