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Fiore Exploration Ltd.
Summary
| Project: | Pan Mine | |
|---|---|---|
| Deposit: | Pan Mine | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 8/18/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 18-8-2017: Fiore Exploration Ltd. announces a Feasibility Study report for its Pan Mine deposit at the Pan Mine project. JV - Feasibilty results incl. Post-Tax NPV (5%) of $41M, IRR of 62.7%, LOM of 6.2 years. This report was prepared as a feasibility-lev | |
| Resources: | (Reserve, P+P): 20.9Mt @ 0.015g/t Au for 318koz Au contained at project | |
| CP/QP: | [Resources]: J. Pennington (SRK Consulting (US) Inc.) | |
| ABSTRACT: | This report was prepared as a feasibility-level National Instrument 43-101 (NI 43-101) Technical Report (Technical Report) for GRP Minerals Corp (GRP) by SRK Consulting (U.S.), Inc. (SRK) on the Pan Gold Project (Pan or the Project). The Pan Mine is owned by GRP Pan, LLC, a Nevada limited liability company and GRP’s wholly owned subsidiary. GRP acquired the Pan property as part of the acquisition of various mineral assets from subsidiaries of Midway Gold Corp. (Midway) by way of an asset purchase agreement. The acquisition closed on May 17, 2016, following approval of the asset sale by the United Stated Bankruptcy Court for the District of Colorado. The Pan property is located in the northern Pancake Range in White Pine County, Nevada, 22 miles southeast of the town of Eureka and 50 miles west of Ely. Location of the property is shown in Figure 1-1. The Project claim boundary encompasses approximately 10,473 acres, and consists of 550 contiguous, active, unpatented lode mining claims. Unpatented lode mining claims are kept active with annual maintenance fees paid to the Bureau of Land Management (BLM) and White Pine County by September 1st of each year. Effective May 17, 2016, the Pan Mineral Lease dated January 7, 2003 was assigned and conveyed to GRP Pan, LLC. On July 24, 2017, GRP entered into an arrangement agreement with Fiore Exploration Ltd. (“Fiore”) pursuant to which, among other things, GRP will acquire all of the issued and outstanding common shares of Fiore (the “Transaction”). Upon completion of the Transaction, Fiore will become a whollyowned subsidiary of GRP. Fiore is presently listed on the TSX Venture Exchange. Following completion of the Transaction, GRP will assume Fiore’s listing on the TSX Venture Exchange and Pan will be the principal mineral property. All references to GRP in this report refer, as the context requires, to GRP following completion of the Transaction and the acquisition of Fiore. | |
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