Exploring For Riches From The Lost Gold Mines Of El Dorado

In the 1600s, the legendary Cauca gold belt helped make Spain the richest nation in Europe. They extracted every ounce they could reach with the tools of the day, and then left.

The world forgot about Cauca gold…but now FenixOro Gold Corp (CSE: FENX) could put those richest back in the headlines.

Dear Fellow Investor,

Deep in the Andes Mountains of Colombia, one of the world’s richest gold belts until recently lay hidden beneath the rugged peaks, covered by dense forest, lost to the world.

Few people alive knew that 300 years ago this region produced more than two-thirds of the world’s gold.

The greatest gold rush in history was launched when Spanish conquistadors returned from the New World with stories of natives “clothed from head to foot in gold armor,” and a city where it was “scarcely possible to set down one’s foot except upon gold.”

That city was the famed El Dorado, city of gold, which sat atop what is now called the Cauca Gold Belt. Whether it was real or a legend, the Cauca gold was extraordinarily real.

In fact, Cauca gold made Spain the richest nation in the world.

But by the late 1800s miners had extracted nearly all the gold that could be reached with that era’s mining technology.

Operations shut down. Mines were abandoned. The mountains reclaimed them, and they were forgotten.

The miners left behind an estimated $100 billion in gold still buried beneath the surface. It would have to wait for another era.

Modern era mining company strikes it rich in Cauca Gold Belt; is bought out for $1 billion

Over the next 200 years there were big advances in mining technology — changes that could make it much easier to find that the remaining gold in the region.

Even so, it had become risky to do business in Colombia. The country sank into long decades of civil unrest, and foreign investors took their capital elsewhere.

But a few people remembered what was there.

One of them was mining geologist Stuart Moller, who began exploring the Cauca Gold Belt more than a decade ago, back when you were putting your life on the line just to go there.

Moller had been VP Exploration for Pan American Silver before taking an offer from Continental Gold to head up their exploration team in Colombia.

It was Moller who discovered the now-famous Buritica complex, a massive Cauca Belt system of high-grade gold veins across more than 75,000 hectares.

Billions of dollars in gold that was totally out of reach of the Spanish explorers, and even the smattering of miners who tried to reach it throughout the 19th and early 20th centuries.

Today Buritica is one of the world’s largest and highest-grade undeveloped deposits, and is about to enter commercial production with the world’s fourth-lowest production cost per ounce.

Measured and inferred mineral resources total more than 12 million ounces of gold and 21 million ounces of silver — which is why Continental Gold was bought by Zijin Mining in March of 2020 for a little over $1 billion.

It was Moller’s biggest discovery, and Colombia’s too.

But there was more gold for Moller to discover. And so he joined a new team focused on the rich Cauca Gold Belt.

FenixOro Gold Corp:
On the trail of the next big Cauca gold discovery

FenixOro Gold Corp is a junior mineral exploration company led by seasoned mining industry leaders with more experience in the Cauca Gold Belt than nearly any others in the industry.

CEO John Carlesso is a recognized leader in the Cauca mining region, where he has been named one of only five “Mining Leaders” by the International Forum for Mining Executives.

Mr. Carlesso previously co-built and sold Explorator Resources to Chilean mining company Pucobre.

Director Keith Minty is also a seasoned mining industry pro. Mr. Minty previously helped build North American Palladium into the world’s fifth largest platinum producer, serving as that company’s President and CEO.

And of course, there’s FenixOro’s VP Exploration, Stuart Moller, who discovered Continental Gold’s billion-dollar Buritica property, and who was instrumental in discovering and securing FenixOro’s property just 15 km from Buritica.

Those properties are in an especially gold-rich area in the State of Antioquia.

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An Estimated 33 Million Ounces Of Gold Averaging 25 Grams Per Tonne

FenixOro now boasts a fully licensed and permitted 547-hectare property that hosts over 80 closely spaced gold-bearing veins.

The Antioquia region now produces more than 635,000 ounces of gold per year, and with estimated reserves of more than 33 million ounces, there’s plenty left to take out.

The kicker? The average grade of gold in the area, called Antioquia, is 25 grams per tonne.

To compare, anything over 8 grams per tonne is considered “high grade.” At 25 grams per ton, Antioquia gold is bordering on “Bonanza grade.”

But it gets better....

FenixOro’s Property Shows Similar Geology To Continental Gold’s Big Discovery

Even at its early stage, FenixOro’s Abriaqui project shows the kind of high-grade gold that a geologist would want to see. All of the 80+ veins mapped in the project area are gold bearing, with more than 20 having rock-sample assays in excess of 20 g/t gold and up to a max of 146 g/t gold.

There are some important similarities to the 12-million-ounce Buritica deposit:

A similar geologic setting...

Numerous, closely-spaced veins developed in 500-meter-wide corridors...

Abundance, close spacing, and +800 meter vertical extent of the gold-bearing veins...

And, perhaps most importantly, high-grade gold.

Consider that Buritica is one of the world’s largest high-grade gold projects. Of its 12 million estimated ounces of gold, a sizable 5.32 million ounces are estimated to be of an 8.4 gram per tonne mineralization, putting it squarely in the “high grade” category.

With so many shared characteristics, plus samples as high as 146 grams per tonne gold and over 80 closely-spaced gold-bearing veins, FenixOro’s Abriaqui project is precisely the kind of target you’d look for in this rich gold region.

Newmont, Anglogold, Gran Colombia Gold All Competing To Get In

Colombia is hot. The Cauca Gold Belt is hotter. And the Antioquia region of the Cauca belt is the hottest.

Many of the world’s biggest mining companies are competing to grab up properties around FenixOro’s prime location.

Newmont Goldcorp, the world’s largest gold mining company after buying Goldcorp in 2019, “can’t get enough of Colombia,” according to industry know-all Mining.com.

The company has a large project 50 kilometers south of the high-grade Buritica mine, as well as several other projects in the Antioquia area.

AngloGold Ashanti, the world’s third largest producer, has two major operations in the Antioquia region. Together, they have a combined expected reserve of 4.3 million ounces gold, with expected production of 450,000 ounces per year.

Gran Colombia Gold is the country’s largest producer. Their Antioquia mine is one of the country’s oldest, and has been in continuous operation for over 150 years.

In that time it has produced over five million ounces of gold, currently being produced at a very low cost of just $607 per ounce.

The News Just Keeps Getting Better

Arguably, the secret to the blockbuster success of the billion-dollar Buritica mine is its extraordinary depth and continuity of mineralization.

As noted previously, many similar characteristics are evidenced at FenixOro’s property, which gives the company exceptional blue sky potential.

FenixOro geologists recently traced narrow, high-grade gold vein systems that extend over roughly 900 vertical meters.

They have taken over 300 chip or channel samples that assay up to 146 grams per tonne gold.

More than 20 of the veins returned samples of greater than 20 grams per tonne gold. And hundreds of soil samples are in still the lab awaiting assays.

Exploration Is Now Underway...

In March 2020, FenixOro launched an extensive, fully-funded $2.9 million exploration program.

The all-inclusive exploration program consists of expanded ground magnetometry with 3D modeling, soil sampling, alteration mapping and channel sampling.

FenixOro is working towards the final permits for a two-phase, 6,000-meter diamond drill program designed to test veins and porphyry models.

That program will focus on the main area of vein development in the western portion of the prospect area.

Ground-Floor Gold Exploration

The key to reaping big winners in junior mining stocks is getting in early on the right companies.

With the seemingly perfect geologic target in a region renowned for billion-dollar discoveries...with a proven management team and a massive, multi-million-dollar exploration program now in progress...FenixOro is serving up the kind of early-stage opportunity investors look for.

The question is how long it will remain an early-stage play. Once the big exploration program now in progress starts making news, success could quickly launch this stock higher.

Don’t kick yourself for missing the next big winner in the Cauca gold belt — learn more now.

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FenixOro Gold Corp (FENX.CSE)