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Rio2 Ltd.
Summary
| Project: | Fenix | |
|---|---|---|
| Deposit: | Fenix | |
| Location: | Chile | |
| Commodities: | Gold | |
| Date: | 1/22/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 22-1-2019: Rio2 Ltd. announces an Exploration/Drilling Update report for its Fenix deposit at the Fenix project. Drilling results incl. 192.0m @ 0.809g/t Au from 156.0m. Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; BVL: RIO) is pleased to announce d | |
| Resources: | (Reserve, P+P): 294.4Mt @ 0.40g/t Au for 3.743Moz Au contained | |
| CP/QP: | [Overall Report]: Enrique Garay (Internal) | |
| ABSTRACT: | Rio2 Limited (“Rio2” or the “Company”) (TSXV: RIO; BVL: RIO) is pleased to announce drilling results from the first 11 reverse circulation (“RC”) drill holes and 4 surface trenches at its Fenix Gold Project located in the Maricunga region, Chile. The drilling represents 2,236 meters drilled to date of an approximate 7,000-meter drilling program that commenced in late November 2018. The objective of this drilling is to intersect and define eastwest structural feeders that the geologists believe are controlling the near surface higher grade mineralization. The drilling will also serve as a check for previous drilling within the US$728 pit shell and assist in better defining the near surface higher grade mineralized component of the new resource estimate which is currently planned for completion at the end of Q1, 2019. The US$ 728 pit shell was defined in the “NI 43-101 Technical Report on the Cerro Maricunga Project Pre-Feasibility Study Atacama Region, Chile” dated October 6, 2014 with an effective date of August 19, 2014, a copy of which document is available on SEDAR under Rio’s SEDAR profile at www.sedar.com. The Cerro Maricunga Project was renamed the Fenix Gold Project by Rio2 in 2018. The total mineral proven and probable reserve estimate as outlined in the 2014 Technical Report is 294.4 million tonnes at an average grade of 0.40 g/t gold for a total of 3,743,000 gold ounces. | |
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