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Fiore Gold Ltd.
Summary
| Project: | Gold Rock | |
|---|---|---|
| Deposit: | Gold Rock | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 5/15/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-5-2020: Fiore Gold Ltd. announces a PEA report for its Gold Rock deposit at the Gold Rock project. PEA results incl. post-tax NPV(5%) of US$32.8M and IRR of 17.8%. As part of the Technical Report summarizing the results of the PEA, Fiore commissioned A | |
| Resources: | (Resources): 18.996Mt @ 0.66g/t Au (Ind.) & 3.027Mt @ 0.87g/t Au (Inf.) | |
| CP/QP: | [Overall Report]: Michael Dufresne (APEX Geoscience Ltd.) | |
| ABSTRACT: | As part of the Technical Report summarizing the results of the PEA, Fiore commissioned APEX to review the existing geological and gold mineralization models and complete an updated Mineral Resource Estimate (MRE) for the Gold Rock Deposit. The updated Gold Rock MRE comprises an Indicated Mineral Resource of 20.940 million tons (18.996 million tonnes) at 0.019 ounces per ton (oz/st or opt) or 0.66 grams per tonne (g/t) gold (Au) for 403,000 ounces of gold and an Inferred Mineral Resource of 3.336 million tons (3.027 million tonnes) at 0.025 oz/st (0.87 g/t) Au for 84,300 ounces of gold, using a lower cut-off grade of 0.003 oz/st (0.09 g/t) Au (Table 1.1). The updated Gold Rock MRE is reported at a range of gold cut-off grades in Table 1.1 for both Indicated and Inferred categories. Other cut-off grades are presented for review.. The 2020 Gold Rock Deposit Mineral Resource has been classified as comprising both Indicated and Inferred resources according to recent CIM definition standards (Table 1.1). The classification of the Gold Rock Mineral Resource was based on geological confidence, data quality and grade continuity. No portion of the current mineral resource has been assigned to the “Measured” category. All reported mineral resources occur within a resource pit shell optimized using values of $US1,500 per ounce for gold. | |
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