FenixOro Gold Corp. announced the results of a petrographic study characterizing the rock types, alteration, and mineralization at the Abriaqui project in Antioquia, Colombia. The results show striking similarities with the formation and characteristics of both the Buritica Mine (Continental Gold/Zijin 11.4 million oz deposit) and the Marmato Mine (Aris Gold, 8.7 million oz deposit).

The study consisted of microscopic analysis of samples characterizing all mineralization types throughout the full 1500 vertical meters of known high grade gold mineralization, including the recently discovered Prospera Vein in the Southern Block at Abriaqui (100 continuous meters along strike of 39 g/t gold, 254 g/t silver, 1.2% copper and 2.8% zinc). 36 samples were analyzed to define characteristics of the intrusive rock suite as well as the mineralization history of a deposit. Study Highlights: The key findings of the study are: The intrusive system, alteration signature, and mineralization pulses are all multi-stage which indicates a strong, long-lasting gold-mineralizing system capable of creating a large, multi-million oz deposit.

Results confirm the similarities of the mineralizing system at Abriaqui to the deeper, higher temperature parts of other large, vertically extensive gold-(copper) deposits along the Mid-Cauca trend such as Continental/Zijin's Buritica Mine and Aris Mining's Marmato Mine. The study results place the currently explored portion at Abriaqui above the porphyry gold-(copper) horizon to include the mesothermal vein zone with some hybrid epithermal characteristics in the upper part. High grade vein mineralization at Abriaqui is open below the deepest drilled depths.

The significant vertical extent of mineralization at Abriaqui is similar to the Buritica and Marmato deposits as well as others on the Mid Cauca Gold Belt in Colombia. An idealized vertical section through these deposits shows a mineralized porphyry at the base of the system, grading upward through a 1000-1500 vertical meter system of higher temperature mesothermal through lower temperature epithermal veins closer to the surface. Mineralization in the upper part of the system in the southern block has characteristics of the Carbonate Base Metal (CBM) type gold veins that are well developed in the upper part of the Buritica system.

Results indicate that a significant portion of the gold at Abriaqui is free gold and/or electrum which is not complexed with other minerals. This should significantly enhance future metallurgical recoveries. Study Specifics and Implications for Ongoing Exploration: Enough drilling has been done at Abriaqui to understand the general geometry, gold- silver-copper grades, and minimum size of the deposit however a great deal of exploration upside remains.

The under-explored southern block which represents the upper part of the geologic system has some of the highest grades seen to date including the as-yet undrilled Prospera Vein which averages 39.2 g/t gold, 254 g/t silver, 1.2% copper, and 2.8% zinc along 100m of mine tunnel. Mineralization in the area has some characteristics of the Carbonate Base Metal type gold veins that are well developed in the upper part of the Buritica system. Unexplained gold-in-soil and magnetic anomalies also occur in the southern block.

Gold mineralization in all known veins in the district is open below the deepest depths drilled to date which significantly enhances total gold potential. If the system is cored by a mineralized gold-copper porphyry at drillable depths, it too remains to be discovered. Intrusive rocks average diorite in composition and range from diorite to monzonite-latite and rare aplite.

The sedimentary package which hosts the intrusion is predominantly siltstone which is thermally altered within 200-600 meters of the contact to biotite hornfels. The alteration assemblage progresses from early strong potassic (k-feldspar-biotite- magnetite) overprinted by a weak to moderate phyllic assemblage (sericite-chlorite- pyrite). Both types pre-date the main gold mineralization stage.

Late to post-mineral carbonate veins and breccia fill are seen in many areas. Many samples of little-altered diorite contain disseminated chalcopyrite indicating a pre- vein copper event. The principal vein stage sulfides are pyrite-pyrrhotite +/- arsenopyrite-galena-sphalerite-rare molybdenite with possible tellurides along with sulfosalts in high silver areas.

Multiple pyrite events are noted with ore stage pyrite often replacing pyrrhotite. Gold occurs in the native state and as electrum in sulfide veinlets and rarely with actinolite-albite veinlets and with molybdenite in quartz. In the replacement mantos in the sediments, the alteration pattern is similar with early potassic overprinted by weak phyllic then flooded with quartz-pyrite veining and matrix dissemination.

At the deepest levels pyrite-pyrrhotite-chalcopyrite +/- arsenopyrite assemblages dominate and the silver:gold ratio is 1.5:1. At the top of the system in the southern block there is more sphalerite- chalcopyrite-and sulfosalts. Silver and copper are significantly more abundant with silver:gold averaging 7:1. A strict vertical metal zonation may not apply in this area as a different, possibly more copper rich phase of the intrusion predominates in the area. Along the 200-kilometer long Mid-Cauca belt of similar aged gold-(copper) deposits more than 80 million ounces of gold have been discovered in the last 15 years.

Some of the larger deposits (10+ million ounces) show gold mineralization over a 1000+ meter vertical interval. A highly idealized model for the belt would have a deep body of porphyry-style gold-copper mineralization with 1500-2000 meters of higher- grade veins developed above it transitioning upward from deeper mesothermal veins to the near- surface epithermal zone The geology along the trend is variable but the principal difference in the deposits appears to be the level of erosion. Some deposits are eroded down to the porphyry core and little vein potential remains.

Others are exposed at higher levels and exploration has not yet tested deeply enough to search for the porphyry roots. Most are somewhere in between. The emerging Guintar district is also shown representing the deep mesothermal to porphyry level of erosion.

Though Abriaqui is at an early stage of exploration, it compares favorably with Buritica and Marmato in the number of veins (120+), average gold grade, and vertical dimension of gold mineralization. The petrographic work also indicates that the ore-forming system at Abriaqui was quite complex with multiple superimposed phases of gold-silver +/- copper enrichment. This too is a characteristic of the larger ore bodies along the trend.