Noble Capital Markets Initiates Positive Research Coverage Recommendation and Price Target

Rhea-AI Summary

FenixOro Gold Corp (OTCQB:FDVXF) announced that Noble Capital Markets has initiated research coverage on the company. The report, authored by analyst Mark Reichman, is accessible on the Noble research platform. FenixOro is focused on gold exploration in Colombia, with its flagship Abriaqui project located near Continental Gold's Buritica project, a notable area for gold discoveries. Recent drilling at Abriaqui yielded significant findings of high-grade gold deposits. The company aims to leverage its exploration potential in the gold-rich Mid-Cauca belt.

Positive

• Noble Capital Markets has initiated research coverage on FenixOro.
• Recent Phase 1 drilling at the Abriaqui project resulted in a significant gold discovery.
• The Abriaqui project is strategically located near other major gold projects.

Negative

• None.

TORONTO, Sept. 13, 2021 (GLOBE NEWSWIRE) -- FenixOro Gold Corp (CSE:FENX) (OTCQB:FDVXF) (Frankfurt:8FD) is pleased to announce that Noble Capital Markets, a leading US Investment Bank specializing in Small Cap companies, has initiated research coverage on the Company.

The report by Noble Capital Markets Analyst Mark Reichman is available on the Noble research platform at https://www.channelchek.com/company/FDVXF/research-report/2849%3Fpassword%3DNoble1.

About FenixOro Gold Corp.

FenixOro Gold Corp is a Canadian company focused on acquiring and exploring gold projects with world class exploration potential in the most prolific gold producing regions of Colombia. FenixOro's flagship property, the Abriaqui project, is the closest project to Continental Gold's Buritica project. It is located 15 km to the west 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 similar. Since the preparation of this report a Phase 1 drilling program has been completed at Abriaqui resulting in a significant discovery of a high grade, “Buritica style” gold deposit. A Phase 2 drilling program has recently commenced.

FenixOro's VP of Exploration, Stuart Moller, led the discovery team at Buritica for Continental Gold in 2007-2011. At the time of its latest public 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 Noble Capital Markets covering FenixOro Gold Corp (FDVXF)?

The initiation of coverage by Noble Capital Markets highlights investor interest and could enhance FenixOro's visibility in the market.

What recent developments occurred at FenixOro's Abriaqui project?

A Phase 1 drilling program at the Abriaqui project led to the discovery of high-grade gold deposits, with a Phase 2 program now underway.

How does the location of the Abriaqui project affect FenixOro Gold Corp (FDVXF)?

The Abriaqui project is strategically located near the successful Buritica project, which may enhance FenixOro's exploration potential and market appeal.