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FenixOro Announces Results of Geophysical Study Strengthen Porphyry Model at Abriaqui Project
Toronto, Ontario--(Newsfile Corp. - August 27, 2020) - FenixOro Gold Corp (CSE: FENX) (OTC Pink: FDVXF) (FSE: 8FD) is pleased to announce that it has received t
About this update from Fenixoro Gold Corp.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - August 27, 2020) - FenixOro Gold Corp (CSE: FENX) (OTC Pink: FDVXF) (FSE: 8FD) is pleased to announce that it has received the results and analysis of the data from a recently completed ground magnetometry survey at its Abriaqui Project in Colombia. The principal target at Abriaqui is a series of over 80 high grade, Buritica-style gold veins. These veins, which have been worked for over 80 years by Fenix' partner, a local mining cooperative, will be the primary focus of the Company's upcoming 6000m maiden drill program. Additionally, the potential for porphyry-style gold mineralization was recognized earlier this year with the discovery of a small surface outcrop of magnetite-bearing potassic alteration. The outcrop sampled up to 1.1 grams per tonne gold which is representative of the grade in the better porphyry gold systems in Colombia and throughout the world. The location of this outcrop is coincident with a magnetic anomaly from a pre-existing geophysical program. This alteration type is typical of the gold-bearing portions of mineralized porphyry systems world-wide. In several gold districts along the 200+ kilometer long Cauca trend in Colombia, porphyry style mineralization has been discovered using magnetometry to map this type of magnetic rock alteration. FenixOro recently commissioned a program of ground magnetics to define and hopefully expand the magnetic body in three dimensions. Results are summarized in Figure 1 which shows magnetic data (reduced to the pole), the contact of the diorite intrusion which hosts the majority of the mineralized gold veins, and faults interpreted from the magnetic data. The data define a strong, near-surface magnetic anomaly of about one square kilometer. The body is centered on FenixOro ground and is open to the west, but it is not expected to continue far in that direction as the contact of the host diorite with the sedimentary package is right at the grid margin. FenixOro has recently acquired the seizure rights to the license which covers the area of this western extension from Polo Resources Limited (see Press Release dated August 25, 2020). The magnetic body is terminated on the south by a significant, northeast-trending fault. Three-dimensional analysis indicates that the body continues at approximately the same diameter to a depth of at least...