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Fiore Gold Ltd.
Summary
| Project: | Pan Mine | |
|---|---|---|
| Deposit: | Pan Mine | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 5/17/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 17-5-2018: Fiore Gold Ltd. announces an Exploration/Drilling Update report for its Pan Mine deposit at the Pan Mine project. Drilling results incl. 45.7m @ 0.72g/t Au from 48.8m. Vancouver, British Columbia – FIORE GOLD LTD. (TSXV: F) (OTCQB: FIOGF) (“Fio | |
| Resources: | (Reserve, P+P): 318,000oz Au contained at Pan Mine | |
| CP/QP: | [Overall Report]: Eric LeLacheur (Internal) | |
| ABSTRACT: | Vancouver, British Columbia – FIORE GOLD LTD. (TSXV: F) (OTCQB: FIOGF) (“Fiore” or the “Company”) is is pleased to provide results from an additional seven holes of its 2018 drill program at its Pan Mine in Nevada, part of a long-term program aimed at expanding the resource and reserve base at Pan. The current drilling is aimed at expanding reserves and resources near the North Pit which hosts most of the silica-rich rocky ore at Pan. Drilling is also planned for the Central area of the deposit to expand existing resources there as well as test new targets. Mining at Pan is currently taking place in both the rocky North Pan Zone and the clayey South Pan Zone, with the run-of-mine ores blended on the leach pad. The seven holes reported here were drilled near the northern end of the North Pit, at Red Hill and in the West Contact area on the western side of the North Pit (Figure 1). The holes were intended to test the potential to expand the existing oxide reserves both at depth and laterally beyond the current reserve boundaries. The 2017 Pan Mine Feasibility Study defines Proven and Probable reserves of 318,000 gold ounces at an average grade of 0.51 g/t gold (0.015 oz/ton), with reserve cutoff grades of 0.21 g/t gold for the North and Central pits, and 0.14 g/t gold for the South Pit. Tim Warman, Fiore’s CEO commented, “The new intercepts at Red Hill are particularly interesting, since Red Hill hosts the highest-grade portion of the Pan deposit, and all of these new Red Hill intercepts are outside of the currently planned pit envelope. Our mine planning team is currently evaluating whether this new mineralization will allow us to deepen the planned Red Hill pit to bring in additional resources.” As previously announced, Fiore has approved an additional 5,030 metres (16,500 ft) of RC drilling, and 1,495 metres (4,900 ft) of diamond drilling at Pan in FY2018, as well as 4,265 metres (14,000 ft) of RC drilling at the nearby Gold Rock project. Drilling is ongoing at Pan, while drilling at Gold Rock is scheduled to start in July. | |
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