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FenixOro Signs Definitive Agreement for Porvenir Mine and Permitted Facility
Significantly Expands Abriaqui Project Land Package TORONTO, ON / ACCESS Newswire / May 22, 2025 / FenixOro Gold Corp (CSE:FENX)(OTC PINK:FDVXF)(Frankfurt:8FD) ("FenixOro" of "the Company") is pleased to announce that it has executed a definitive ...
About this update from Fenixoro Gold Corp.
[{"type":"text","content":"Significantly Expands Abriaqui Project Land Package","length":51,"tagName":"p"},{"type":"text","content":"TORONTO, ON / ACCESS Newswire / May 22, 2025 / FenixOro Gold Corp (CSE:FENX)(OTC PINK:FDVXF)(Frankfurt:8FD) ("FenixOro" of "the Company") is pleased to announce that it has executed a definitive agreement to obtain the El Porvenir Mine and processing facility along with a significant contiguous land package and consolidate these assets (the "Assets") with its flagship Abriaqui gold project in Antioquia, Colombia (the "Transaction").","length":476,"tagName":"p"},{"type":"text","content":"FenixOro CEO John Carlesso stated: "This transaction is transformational as it unifies adjacent properties to create a single project of scale and significance, combining exploration upside with existing production capabilities. This introduces both immediate and long term strategic value to the Company as the existing scalable, fully permitted production facility will allow FenixOro to take advantage of historic all-time-high gold prices within a relatively short period of time. Longer term, permitting for a new larger 300 tonnes per day processing facility is in final stages of approval. Once completed, this provides a turnkey, scalable processing solution for gold production on the combined Abriaqui project as a whole, circumventing what is typically a multi-year environmental application approval process. With this transaction we will be better positioned to execute on our corporate objective of proving out a "Buritica-style" deposit in both size and scale. The resulting project from this combination contains the entire package of mineralization of significance from north to south, and positions the Company with certainty for its development and long term, expanded production strategy. We strongly believe that this combination of unique, high grade, and highly prospective assets will deliver tremendous value for shareholders as we transition to executing on a production strategy that contributes cash flow towards our continuing development and growth objectives."","length":1511,"tagName":"p"},{"type":"text","content":"The El Porvenir Mine lies 3 kmto the northwest of the extension of the Abriaqui property boundary and is the largest historic producer in the district (see Figure 1...