EXPLORATION & DEVELOPMENT

Fenix Oro starts drilling Abriaqui near Buritica in Colombia

Potential for Buritica-style veins

Paul Harris in Medellin, Colombia
 Vein projections at Abriaqui in Antioquia, Colombia

Vein projections at Abriaqui in Antioquia, Colombia

With more than 80 historical artisanal mines in the area, the company believes it will encounter broad mineral zones of closely-spaced veins carrying double-digit gold grades, similar to those seen at Buritica.

"Small-scall mining has exploited veins running over 20 grams per tonne up to a maximum of 146g/t over a plus-800m vertical interval. Abriaqui has a similar geologic setting to Buritica with upper Miocene diorite intruding Cretaceous fine grained sediments, and it really took drilling to identify and define the ore grade veins corridor," said VP exploration Stuart Moller, who was VP exploration for Continental Gold, and who made the Buritica discovery.

The first hole of a US$2.9 million, 6,000m drilling programme is underway. It will feature angled holes across interpreted families of veins. The first phase will see 4,500m drilled in 10 holes with the remainder to be programmed depending upon results.

Fenix also aims to drill one hole into a magnetic anomaly to test for porphyry-style mineraliation.

"There are outcrops of magnetite-bearing potassic alteration which is typical of gold porphyries. If there is a gold porphyry there, the whole thing looks like it is preserved at easily drillable depths," he said.

Shares in Fenix Gold are trading at C50c, valuing the company at $37 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.