Discovery of Additional New Targets In Southern Block of Abriaqui Project
TORONTO, Oct. 22, 2020 (GLOBE NEWSWIRE) -- FenixOro Gold Corp. (CSE:FENX, OTCQB:FDVXF, Frankfurt:8FD) is pleased to announce the final data set
from the recent ground magnetics and soil geochemistry program has generated another new target area at the Abriaqui project in Antioquia, Colombia.
- The new discovery target is 1200 meters from the area where drilling is currently taking place and extends total known mineralization to an area of 2.5 km x 1 km
- The new target is located at an elevation 500 meters higher than the current drill location, lending confidence to the model showing the mesothermal veins having a minimum vertical continuity of 900 meters
- The continuity of significant grade in soils indicates that additional potential for new discoveries is not limited to the existing, previously-known visible vein structures
- Coincident magnetic high indicates potential for second porphyry target
- Extends pipeline of new drill targets well into 2021
The main target at Abriaqui is a series of over 80 “Buritica style”, high grade gold veins which are present in northwest and east-west trending corridors up to 1200 meters long and 400 meters wide. A potential porphyry-style gold mineralization, has also been modelled by ground magnetometry and surface geological mapping. The main vein zones and the porphyry target are in the northwestern part of the project in an area with all-year drive-in drill access.
This new target is in the southeastern part of the project 1200 meters southeast of the main exploration area and 500 meters higher in elevation. Figure 1 shows the new target as defined by ground magnetics data (reduced to the pole) and a coincident gold-in-soil anomaly. The magnetic high shown in purple colors is at least 300 meters x 400 meters in horizontal extent and has been modeled to a minimum depth of 700 meters. It is hosted entirely within the diorite intrusive sequence and is open to the south into an area within FenixOro exploration licenses.
The soil anomaly, also open to the south, consists of a 100-meter line of samples all of which are in excess of 0.4 grams per tonne gold. As it occurs at the top of a sharp ridge, the soils are in place and therefore represent near surface mineralization present in the immediate vicinity of the sample sites. Numerous other soil gold anomalies of this quality have been reported throughout the property (see press releases of July 23, 2020 and August 19, 2020), however those have clearly been associated with known families of high grade gold veins and are generally not associated with magnetic highs. No veins or manto style replacement mineralization have been seen in the immediate area of the anomaly.