Wednesday, September 29, 2021

FenixOro Gold (FDVXF)
Initial Phase 2 Drill Results Underscore Expanding Resource Potential

FenixOro Gold Corp is a Toronto based company acquiring and exploring high grade gold projects in Colombia. The company's flagship Abriaqui Project is the nearest exploration project to Continental Gold's Buritica Mine.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Higher grades and wider widths. Assay results were received for the first three holes, along with partial results for the fourth, from the initial Phase 2 infill drill holes in the Northwest Vein Corridor (NWC) of the Abriaqui gold project. Drilling intersected a new high grade vein called Cascada which returned 1.3 meters grading 23.23 grams of gold per tonne and is part of a newly defined trend of at least 4 new veins. Three main veins in the northwest corridor revealed an increase in average grade and thickness.

Increasing resource potential expectations.  Based on a small sample of drilling data from the Phase 1 drilling program, management estimated resource potential of 1.6 million to 2.4 million gold ounces. The company's current resource model, incorporates only 4 of the 120 mapped veins on the project. Following the Phase 2 program, formal resource-definition drilling may begin in the NWC to define a ...

This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.