Business
FenixOro Gold Corp Outlines 2023 Objectives for Shareholders and Investors
Toronto, Ontario--(Newsfile Corp. - January 12, 2023) - FenixOro Gold Corp. (CSE: FENX) (OTCQB: ...
About this update from Fenixoro Gold Corp.
[{"type":"text","content":"FenixOro Gold Corp Outlines 2023 Objectives for Shareholders and InvestorsToronto, Ontario--(Newsfile Corp. - January 12, 2023) - FenixOro Gold Corp. (CSE: FENX) (OTCQB: FDVXF) (FSE: 8FD) is pleased to provide an update to shareholders and investors as it embarks on its plans for 2023. Fundamentally, 2022 was a very successful year and the Company achieved many significant milestones:Continued exploration success across the Abriaqui project including an ongoing significant update of the Resource Potential ModelThe discovery of new high-grade targets in the southern block that will guide the next phase of exploration drillingThe acquisition of the fully permitted and operating high-grade Escondida gold mine that will provide a growing stream of cashflow for the Company going forward. This represents the initiation of a long-planned strategy of constructing a portfolio of high-grade gold mines that show potential for growth and enhancement FenixOro CEO John Carlesso commented: \"Fundamentally the Company accomplished many significant achievements in 2022. We are well-positioned and focused on continuing to build on these successes. With the gold price showing strength early in 2023 we see tremendous opportunity ahead of us to demonstrate the additional growth potential at Abriaqui and utilize the unique skill sets of our team to add value through portfolio construction.\" Resource Model UpdateAt the flagship Abriaqui project through the end of 2022, 25 holes have been drilled and more than 40 gold-bearing veins have been intersected with widths up to 7.7 meters. In several areas these veins coalesce into vein-stockwork complexes up to 20 meters in width. In the Press Release of March 19, 2021 the resource potential of 4 of these veins was estimated based on data from the first nine drill holes. The potential was estimated at 1.6 -2.4 million ounces of contained gold at grades of 6.5 - 8.5 g/t gold.The company is finalizing an updated resource potential estimate based on the full drill database which has increased significantly and now includes 26 modeled veins. This new calculation will include depth extensions as much as 300 vertical meters below the level modeled in the 2021 exercise on some veins. The new model will not include the recently discovered, but as yet undrilled Prospera Vein in the Southern block. Continuous channel...