Pan Mine Produces 9,964 Gold Ounces In Q3 - 15% Increase Over Prior Quarter 

 

VANCOUVER - Fiore Gold Ltd. reported preliminary production results from its 100%-owned Pan Mine in Nevada for the Company’s third fiscal quarter (“Q3”) ended June 30, 2018.   Highlights: Mined ore production in fiscal Q3 slightly ahead of plan at approximately 14,250 tons per day (“tpd”), with the stripping ratio at 1.48; Gold production of 9,964 ounces, a 15% increase over the preceding quarter; Gold sales of 10,584 ounces, a 22% increase over the preceding quarter; and 22,000 man-hours worked, achieving our goal of zero reportable incidents, zero reportable accidents, and zero lost-time injuries. Currently the operation is at 773 consecutive days of attaining this Triple-Zero achievement. 

Tim Warman, Chief Executive Officer of Fiore, commented: “Our Pan Mine team has delivered another successive increase in quarterly gold production while maintaining their excellent record of safety and environmental protection.  The mine is steadily delivering ore to the leach pads in excess of the 14,000 tons per day plan and the run-of-mine heap leach pads continue to operate as designed.  We’re working to extend the mine life by completing over 27,000 ft (over 8,200 m) of exploration drilling to date, and an internal study on adding a crushing circuit to potentially further improve recoveries is nearing completion.”   

The drilling program aimed at increasing the resource and reserve base at Pan is expected to be complete by the end of July, with over 27,000 ft (over 8,200 m) completed to date. Initial results from the drilling program have been encouraging, identifying ore-grade intercepts outside the current pit shell both at depth and laterally. Drilling will shift to the adjacent Gold Rock property in August, as we begin to explore along the approximately 10 km strike length of favorable geology, alteration, and geochemistry centered on the former Easy Junior open pit mine.

At Gold Rock, the Final Environmental Impact Statement (“FEIS”) is working its way through the Washington, D.C. office of the Bureau of Land Management toward publication in the US Federal Register. The process to publish the FEIS is anticipated to be completed shortly, with the Record of Decision (“ROD”) to follow within 45 days of publication.