FenixOro Launches Drill Program at Abriaqui - Seite 2

Potential porphyry target: An additional important target to be drill tested is a large magnetic anomaly which has been modelled as continuous from surface to a depth of 700 meters, having an area of one square kilometer (see Press Release dated August 27, 2020). Small outcrops of magnetic potassic alteration with veinlets carrying up to 1.1 g/t gold found in an up-thrown fault block on the north edge of this anomaly may be indications that the magnetic body is a buried mineralized porphyry system.

Many new targets generated by soil sampling: The targets to be drill tested have been defined by surface and underground mapping and sampling, ground magnetics, and soil sampling in areas of dense vegetation and soil cover. As seen in Figure 1, soil samples taken over areas of known vein mineralization give significant anomalies of 100 - 1000+ ppb gold. Numerous areas between known veins give soil anomalies of similar magnitude suggesting the possibility that there is potential for the discovery of additional veins and/or stockwork mineralization in close proximity to the known vein families. In the main vein area, the +100 ppb gold contour shown in Figure 1 encloses an area of 600 x 800 meters.

Program objectives: The program priorities are to test the depth extension of high gold grades in the principal vein families, to test as many of the veins as possible in broadly spaced drilling to a depth of 250-300 meters below surface, to test areas of intersection of NW and EW trending vein corridors, to test for lower grade interstitial mineralization, and to test the magnetic anomaly for possible porphyry style mineralization. The first ten holes are planned from four platforms at an average depth of 450 meters. These will be angled at 45-60 degrees from the horizontal in order to drill across the vein corridors with each hole intersecting multiple veins and any interstitial stockwork mineralization. As shown in Figure 1 and Table 1, more than 40 of the 80+ known veins will be tested in Phase 1 along with several of the largest soil anomalies. Hole D1 will test the magnetic anomaly along with the high grade Romperopa vein system. Five of the planned holes will be angled under the trace of the existing dirt road along the valley floor where the Municipality of Abriaqui is planning a road upgrade. As part of its ongoing community initative, FenixOro will provide geotechnical logging to help determine rock quality at its own cost in a cooperative program with local government.