FenixOroGold Corp. announced that assay results from the first drill hole demonstrate high grade gold and silver intercepts at the Abriaqui project in Antioquia, Colombia. The planned 10-hole, 4500-meter Phase 1 program began in early October and to date four holes totaling 1950 meters have been completed. FenixOro contracted Colombia veteran Logan Drilling for the program which is utilizing a track mounted drill with capacity for 600+ meters of HQ/NQ diameter core drilling. To date the drilling conditions and contractor performance have been excellent with core recoveries at almost 100% in all holes. At the current rate Phase 1, which is on time and within budget, will be finished in January of 2021. The main target at Abriaqui is a series of over 80 mesothermal style quartz +/- carbonate veins with a sulfide assemblage consisting of pyite-pyrrhotite +/- arsenopyrite-sphalerite-chalcopyrite-galena. The veins are developed in a 1.5 x 4 kilometer diorite body of upper Miocene age and a hornfels zone developed in fine grained, predominantly siliciclastic sediments of the Cretaceous age Penderisco Formation. The veins are developed in east-west and northwest trending structural corridors 250-350 meters wide and up to 1200 meters long. Assays of over 20 g/t gold have been received for veins over a 900-meter vertical interval from surface outcrops and shallow mine workings. There is little difference in grade or metal ratios within the vertical range observed which is typical of higher temperature, deep seated mesothermal veins of this type. Gold grades of +20 g/t are common in the veins with occasional samples in excess of 100 g/t. There is additional gold mineralization in stockwork veinlet zones between some of the veins which adds potential for thicker widths of mineralization. Breccias related to pre-mineral faulting are locally mineralized and there is lower grade gold mineralization in manto-style replacement zones in parts of the sedimentary package which are associated with pyrite and silicification. Alteration halos consisting of weak to moderate silicification surround the veins and in some areas potassic alteration consisting of biotite replacement of hornblende with quartz-magnetite veining is developed. An epidote-chlorite-pyrite assemblage is a late overprint locally, especially within the sediments. the aim of Phase 1 drilling is to test as many of the known veins as possible in ten holes as well as several of the significant gold-in-soil anomalies found between known vein families. The holes are testing veins hosted by the diorite and the thermally altered sediments in the hornfels zone adjacent to the contact. The southernmost hole will also test a significant magnetics high. This drill phase is restricted to the main vein swarm in the northwestern part of the property as the more logistically challenging southeastern vein group will require more time for preparing access. To date four holes have been drilled for a total of 1950 meters but as assay results have only been received for P001001 (hole 001 from platform 001), the current discussion will be limited to that hole. All holes were surveyed and core was oriented during the drilling process as an aid to future modelling exercises. P001001 was drilled to the southwest to test the widest part of the northwestern vein corridor. The original dip of the hole was -45 degrees, but the hole survey indicated a shallowing to less than -40 degrees at the final depth of 601 meters. Core recovery was close to 100% throughout the hole once below the thin oxide surficial zone and fracture density was minimal.