FenixOro Launches Drill Program at Abriaqui

TORONTO, Sept. 30, 2020 (GLOBE NEWSWIRE) -- FenixOro Gold Corp (CSE:FENX, OTCQB:FDVXF, Frankfurt: 8FD) is pleased to detail the objectives of its maiden diamond drilling program at Abriaqui. The Phase 1 program, initiated on September 26, will include 4500 of the budgeted and fully funded 6000 meters of the initial program. Objectives of the program are a first phase test of the sequence of mesothermal veins and geophysical anomalies in the northwestern part of the project area. As part of its ongoing local community initiative a geotechnical program utilizing the same drill holes will determine rock quality for a road upgrade in cooperation with the Municipality of Abriaqui.

VP Exploration Stuart Moller noted “We are very pleased to pass this most significant milestone in Company history and enter an exciting phase for our investors and stakeholders. The work completed to date has generated a significant suite of anomalies and multiple new targets throughout both the northwest and southeastern areas of the project. We expect that these targets will keep our exploration team occupied well beyond this first phase of drilling and subject to lab turnaround we anticipate having the first drill results available in the coming weeks.”

FenixOro CEO John Carlesso added: “The start of drilling represents the culmination of an incredible effort by our entire team, and particularly our Colombian management group. We have navigated the permitting process, completed a tremendously successful preliminary exploration program and are now commencing the drilling phase, all in the midst of a global pandemic. I am extremely proud of the professionalism and excellence our group has demonstrated in a very challenging time.”

Vein targets: The Abriaqui Project is located on one of the most prolific belts for the discovery of new gold deposits in the past ten years. The principal objective of the drilling is to test several families of “Buritica style” sub-vertical, high grade, mesothermal gold veins present in northwest and east-west trending corridors up to 400 meters wide and 1200 meters long. As reported in previous press releases, many of the 80+ known veins grade over 20 g/t gold over a vertical outcrop interval of more than 800 meters. Consistency in metal ratios and mineralogy, along with the lack of vertical zonation in gold grade over this thick vertical interval is typical of mesothermal veins and strengthens the conclusion that drilling will provide similar gold grades at depth.   While veins are spaced meters to tens of meters apart, between the veins there is lower grade stockwork type mineralization present in several areas of surface and underground exposure. This mineralization style is reminiscent of the “Broad Mineral Zones” at the neighboring 11+ million ounce Buritica deposit (Continental Gold Press Releases February 12, 21, and March 1, 2019). As previously reported Stuart Moller led the discovery team at Buritica and drilled the first 270 holes.