Keith Piggott Joins FenixOro Advisory Committee

Rhea-AI Summary

FenixOro Gold Corp (OTC:FDVXF) announced the addition of Keith Piggott to its Advisory Committee. Piggott, a reputed mine builder with international experience, has a history of advancing mining projects to production. He praised the positive results and professional team behind the Abriaqui project during his site visit. The company granted him 250,000 options at an exercise price of CAD $0.30. FenixOro focuses on gold projects in Colombia, with the Abriaqui project showing promising geological characteristics similar to the successful Buritica project.

Positive

• Appointment of Keith Piggott to the Advisory Committee, enhancing the team's expertise.
• Positive exploration results at the Abriaqui project noted by Piggott.
• Geological similarities between Abriaqui and the successful Buritica project indicate strong potential.

Negative

• None.

TORONTO, Aug. 04, 2021 (GLOBE NEWSWIRE) -- FenixOro Gold Corp (CSE:FENX, OTC:FDVXF, Frankfurt:8FD) is pleased to announce that Keith Piggott, ACSM, has joined the Company’s Advisory Committee.

Mr. Piggott is a proven mine builder and innovator who has successfully commissioned mines into production in many international jurisdictions. He has explored, mined and developed metallurgy in Australia, Mexico, the USA, and Ecuador. He has founded several public companies that have successfully advanced to production and been the subject of acquisitions.

Mr. Piggott holds a degree in Mining Engineering from the Camborne School of Mines and has completed the Executive Development Program at the London Business School.

Mr. Piggott commented: “I was impressed by the positive exploration results and knowledgeable team, operating in a very professional manner, on my recent several day site visit to Abriaqui. I believe that this is a great project and with continued exploration and drilling, should develop into a very valuable asset. As is my custom, as a shareholder I like to add value from my experience so I have agreed to join the Advisory Committee.”

FenixOro CEO John Carlesso stated: “We are very pleased to welcome Keith to the Advisory Committee. He is widely respected in the mining community and has an outstanding operational background. Keith understands what it takes to advance exploration projects to production and his experience will bring valuable perspective to the team.”

The Company has granted 250,000 options to Mr. Piggott at an exercise price of CAD $0.30 per share with an expiry date five years from the date of grant.

About FenixOro Gold Corp.

FenixOro Gold Corp is a Canadian company focused on acquiring gold projects with world class exploration potential in the most prolific gold producing regions of Colombia. FenixOro’s flagship property, the Abriaqui project, is located 15 km west of Continental Gold’s Buritica project in Antioquia State at the northern end of the Mid-Cauca gold belt, a geological trend which has seen multiple large gold discoveries in the past 10 years including Buritica and Anglo Gold’s Nuevo Chaquiro and La Colosa. As documented in “NI 43-101 Technical Report on the Abriaqui project Antioquia State, Colombia” (December 5, 2019), the geological characteristics of Abriaqui and Buritica are very similar. The report also documents the high gold grade at Abriaqui with samples taken from 20 of the veins assaying greater than 20 g/t gold. Since the preparation of this report a Phase 1 drilling program has been completed at Abriaqui following surface and underground geological mapping and sampling, as well as a magnetometry survey.

FenixOro’s VP of Exploration, Stuart Moller, led the discovery team at Buritica for Continental Gold from 2007-2011. At the time of its latest report, the Buritica Mine contains measured plus indicated resources of 5.32 million ounces of gold (16.02 Mt grading 10.32 g/t) plus a 6.02 million ounce inferred resource (21.87 Mt grading 8.56 g/t) for a total of 11.34 million ounces of gold resources. Buritica began formal production in November 2020 and has expected annual average production of 250,000 ounces at an all-in sustaining cost of approximately US$600 per ounce. Resources, cost and production data are taken from Continental Gold’s “NI 43-101 Buritica Mineral Resource 2019-01, Antioquia, Colombia, 18 March, 2019”). Continental Gold was recently the subject of a takeover by Zijin Mining in an all-cash transaction valued at C$1.4 billion.

FenixOro Gold Corp

John Carlesso, CEO

Website: www.FenixOro.com

Email: info@FenixOro.com 

Telephone: 1-833-ORO-GOLD

FAQ

What is the significance of Keith Piggott joining FenixOro Gold Corp's Advisory Committee?

Keith Piggott's experience in mine construction and exploration will provide valuable insights and guidance as FenixOro advances its projects.

How many options were granted to Keith Piggott by FenixOro Gold Corp?

FenixOro granted Keith Piggott 250,000 options at an exercise price of CAD $0.30 per share.

What does the Abriaqui project of FenixOro Gold Corp focus on?

The Abriaqui project focuses on gold exploration in a region known for its high-quality geological features, similar to successful gold projects.

What are the geological characteristics of the Abriaqui project?

The Abriaqui project shares geological similarities with the Buritica project and reports high gold grades, with samples exceeding 20 g/t.

What market experience does Keith Piggott bring to FenixOro Gold Corp?

Keith Piggott has a proven track record in exploring, mining, and developing metallurgy in various countries, enhancing FenixOro's operational capabilities.