FenixOro Discovers New, Wider Mineralized Structure and Completes First Hole of Phase 2 Drilling - Seite 2

Mapping and Sampling Lead To Modelling Of 12 New Structures
To date we have identified over 100 gold-bearing veins on the property. Though many occur in sub-parallel families and most are sub-vertical, their geometry and cross-cutting relationships are complex. In the Press Release of March 9, 2021 we presented preliminary longitudinal sections of four of the better understood veins which were defined by surface/shallow mine exposures and drill intersections. The new structural data from the mine mapping program along with oriented drill core data have been used in a second round of vein correlations and as a result, 12 additional veins are now being correlated. Our understanding of the vein geometry will continue to improve as we infill the NWC with additional Phase 2 holes.

Prior to the start of the Phase 2 drill campaign, a program of detailed mine mapping and sampling was completed in the area of the Phase 1 drilling. The goals of the program were to generate structural information to aid in three-dimensional modeling of the mineralized veins and to expand the database of vein sampling. Both will be used in the future economic modeling of the deposit.  

Veins exposed in 76 near-surface mines were mapped and 270 new channel samples of veins and wall rocks were taken. To date 317 samples taken from mines project-wide carry at least 1 g/t Au with the majority being in the northwestern area which is shown in Figure 1.

Figure 1: https://www.globenewswire.com/NewsRoom/AttachmentNg/d9182ee2-e05a-49c5 ...

Highlights of the new sampling program include:

• 5.1m (true width) @ 6.64 g/t Au on the newly defined E-W trending Baul 3 vein which has 200+ meters of mine workings along its east-west strike (Figure 2).
• 0.8m @ 149 g/t Au and 0.7m @ 56.5 g/t Au on the same vein in areas where no crosscut access was available to sample the full width of the structure.
• 10 new samples in excess of 50 g/t Au with 3 greater than 100 g/t.
  

Figure 2: https://www.globenewswire.com/NewsRoom/AttachmentNg/c0b7ef31-28a5-48c6 ...

The mine mapping and vein sampling exercise will continue with work in the southeastern parts of the project area prior to the later stages of the current drill phase. The data will be needed to maximize the value of the drilling in that area which is considered to be highly prospective by company geologists (see Press Release of April 30, 2021).