FenixOro Gold Corp - The World's Best Address In One Of The Most Prolific Gold Belts

By Patricia Miller


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The charmed individual who discovered a $1.4bn Colombian gold mine has just staked a similar claim next door. This is the perfect time for early stage investors to get hyped up, for speculation has only just begun.

Early this year the world-class Buriticá gold mine in Colombia sold for an eye-popping $1.4 billion, and that was back when gold was struggling to get through $1500 an ounce. The man who discovered the asset, recognised its worth and went on to drill it, was none other than Stuart Moller, an expert in Colombian geology.

After drilling the first 270 holes at Buriticá, Moller left to pursue other interests, but after realising how much he missed the buzz of the find, particularly with the rising price of gold, he opted to get back in the game. He is now running a strikingly similar expedition, a mere 15km from the Buriticá gold mine. Its resemblance is remarkable, and excitement is picking up pace.

Enter the fray FenixOro Gold Corp (CSE:FENX) (OTC Pink: FDVXF) (FSE: 8FD), a cash and drill ready gold explorer getting set to drill its flagship Abriaqui project in Colombia. Stuart Moller is a director on the board for FenixOro and thrilled to be leading its exploration and drill program at Abriaqui.

Moller has an impressive CV. He previously held senior positions at Barrick Gold and Pan American Silver before becoming VP of Exploration for Continental Gold where he discovered the Buriticá gold deposit. He has a B.A. in Geology with Honors from Colgate University plus a Master of Science in Geology from the University of North Carolina and over 40 years’ experience in the mining industry.

Continental Gold’s Buriticá project, as of the last resource update, is at minimum an 11-million-ounce high grade, low cost cash flow producer and it is expected to continue to grow with upcoming resource updates. Late last year it was acquired by Zijin Mining ($154bn market cap) in an all-cash transaction for C$1.4 billion, beating Newmont Goldcorp to the prize. The Chinese have been on a massive acquisition spree in South America, and Buriticá is just one of the latest of many projects to be bought. If the Abriaqui project proves its worth, it would make logistical sense for Zijin or one of its competitors to make a play for it too.

What Stuart Moller has identified at FenixOro’s Abriaqui project is very similar to what he saw when he first discovered Buriticá; over 100 mesothermal veins with several stacked intermissions, indicating a combination of elements throughout wide zones. This makes it a doubly exciting opportunity for the company as it could generate significantly increased financial value to its baseline.

READ OUR SPECIAL REPORT – To discover how FenixOro’s Abriaqui project is leveraging its resources to 2020’s major bull run on gold.

Project scope and potential


The Abriaqui project is situated in a prolific gold region, at the northern end of the mid-Cauca gold belt, in Antioquia State, where around 80 million ounces of new discoveries have occurred since 2007. The project is approximately 100km northwest of Medellin, Colombia’s second largest city, and is accessible by the paved Pan-American highway. Back in March the company began a US$2.9m exploration program which is scheduled to last for 18-months. In 2019 it raised C$3.0m from the issue of shares and warrants, and will soon receive a further C$1.6m through the exercise of these warrants. This provides the funds to finance this ongoing exploration, including its planned maiden 6,000-meter drill program.

The property comprises an adjoining block of concessions and applications covering 1,395 hectares. It sits in an emerging gold-producing region where legal small-scale mining operations are already in play. These small-scale artisanal miners are using primitive but efficient equipment that has proven very effective at discovering high grade gold. These local miners do not want to waste their time and energy searching for lower grades, which leaves plenty of untapped scope for FenixOro.

Its partners have already proven there is high grade gold in the area, while the company’s geologists have witnessed several meters of ore bearing rock that should be ripe for the picking of lower grade gold. This combination of elements spread over wide zones provides significantly more value to FenixOro as it should greatly reduce overall mining costs incurred by the company.

READ OUR REVEALING REPORT – To discover how FenixOro is seamlessly positioned in a high market cap neighbourhood.

Rediscovering Colombia’s Lost Gold


FenixOro is based in Canada and is solely focussed on mining the highly lucrative and largely untapped reaches of Colombia. It went public through an amalgamation with American Battery Metals in May, and its share price has been enjoying an upward trajectory ever since.

Along with the notable Buriticá project, FenixOro’s flagship Abriaqui project has additional neighbours progressing their mining pursuits in the Antioquia region, each with high market capitalization values that FenixOro aspires to match or exceed. Outcrop Gold for example has a market cap of $50 million, AngloGold Ashanti is worth close to $12 billion, and Newmont Goldcorp is valued at $52 billion.

So far, FenixOro has seven claims in the highly prospective region; five it owns outright and two are earn-ins with the local mining association, of which it intends to achieve 90% ownership in time. It acquired four adjacent claims in August 2020.

FenixOro’s purpose at its Abriaqui project is to bring to light its untapped potential hidden within the 6000m of Cretaceous sediment, diorite rock and hornfels, to create massive value through early stage exploration and drilling. It is also staking out additional project opportunities throughout Colombia.

Along with Moller’s first-hand opinion, positive soil sampling results significantly increase the potential of a “Buriticá style” vein system at FenixOro’s Abriaqui project.

Abriaqui also contains 19 new areas already showing anomalies where no previously known veins have been discovered. In addition to the 100m+ high grade veins, FenixOro’s geologists have gone on to discover more lucrative looking veins including an additional zone of replacement mineralization, and indications of potential porphyry-style mineralization. This includes areas of gold-bearing stockwork mineralization crops. All of which are situated on FenixOro’s land package.

These additional veins display 20-146 grams per tonne gold, many meters apart. This news positions the gold to be discovered anywhere between high-grade to spectacular-grade and fuels the fire for further triumph ahead.

With this knowledge accrued, permits in place and everything drill ready, FenixOro is about to get started on its 6000m drill program. The project has a lot of local support, political support from both local and state-level governments, and a great climate for year-round-access to both its North and South sites.

It is also a highly sought-after region with many big players vying for space on the Cauca gold trail including Newmont Goldcorp, Zijin Mining, Anglogold and Gran Colombia Gold. The Cauca gold trail is thought to be home to the mythical El Dorado city of gold, which gives it legendary status in mining lore. The region is believed to have reserves in excess of 33 million ounces, and this makes it an attractive location to big name players.

John Carlesso, CEO of FenixOro, is a familiar leader in this neck of the woods, where he has been named one of only five “Mining Leaders” by the International Forum for Mining Executives. FenixOro is his sole focus at the present time and he looks forward to driving the project forward..

Discovery costs for gold can seriously eat into profit potential, making drilling in a bull run so economically attractive. However, Colombia offers one of the cheapest places in the world to explore for gold because the discovery cost per ounce is among the lowest on the planet. As an example, Buriticá’s discovery cost per ounce is roughly $21 and the all-in gold production cost is approximately US$600 per ounce.

All-in-all FenixOro’s Abriaqui project presents an opportunity that speculative investors will not want to miss.

FENIXORO GOLD CORP (CSE:FENX) (OTC PINK: FDVXF) (FSE: 8FD), At the heart of a prolific high-grade gold region. Learn more about its exploration potential IN OUR EXCLUSIVE REPORT.



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In this article:

Author: Patricia Miller

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

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