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Fiore Gold Ltd. reports additional core drilling results from its Gold Rock project in Nevada, revealing significant gold intercepts. Highlights include 24.4 m of 2.85 g/t gold in hole GC20-005 and 40.3 m of 0.70 g/t in hole GC20-019. CEO Tim Warman notes that these results extend mineralization beyond current limits. The drilling program, originally planned for 60,000 m, has been expanded due to positive findings. An updated resource estimate and Feasibility Study are expected to be completed by Q1 2022, with production aimed for early 2024.
Fiore Gold Ltd. reported a 19% increase in gold production for Q2 2021, totaling 10,915 ounces due to improved heap leach conditions. Gold sales reached 10,884 ounces at an average price of $1,770 per ounce. The company is progressing on its Pan heap leach pad expansion, with initial ore loading expected in Q3. Q2's closing cash balance stood at $17.5 million. The team has achieved operational success with 81,542 man-hours worked without lost time injuries.
Fiore Gold Ltd. (FIOGF) announced the successful re-election of its board members at the annual meeting on April 8, 2021. All directors received majority votes, with Mark H. Bailey receiving 98.77% support. The meeting also approved the number of directors at seven, reappointment of auditors, and the Stock and Incentive Plan. Fiore aims to grow into a 150,000-ounce gold producer by enhancing production at the Pan Mine, developing the Gold Rock project, and seeking additional production assets.
Fiore Gold Ltd. reported its fiscal Q1 2021 results, highlighting gold production of 9,204 ounces, a 5% increase from Q1 2020 but lower than Q4 2020 due to fewer ore tons and lower grade. Total revenues reached $17.2 million, with a net income of $4.5 million, resulting in earnings per share of $0.05. The company maintained a cash balance of $19.2 million, investing in expanding the Pan Mine heap leach pad and advancing the Gold Rock feasibility study. Cash costs per ounce sold decreased to $923, reflecting operational efficiencies.
Fiore Gold Ltd. announced its Pan Mine has achieved one million hours without a lost time injury, reflecting its commitment to safety and sustainability. The company is set to invest $20 million in capital expenditures this fiscal year to advance the Gold Rock project and expand Pan operations. This investment demonstrates confidence in their Nevada operations. The corporate strategy aims for production growth to 150,000 ounces per year, expanding resources and acquiring near-production assets.
Fiore Gold Ltd. announced an updated resource and reserve estimate for its Pan open pit mine in Nevada. The new Proven and Probable mineral reserves amount to 24.0 million tons, yielding 290,500 ounces of gold, reflecting a 6% increase since September 2018. Updated Measured and Indicated resources total 31.1 million tons, containing 427,400 ounces of gold. The mine life extends to 2025 with a low strip ratio of 1.66:1. The company reinvested $1.5 million annually in exploration without shareholder dilution. The updated estimates bolster Fiore's strategy for sustainable growth and resource replacement.
Fiore Gold Ltd. announces positive results from its latest drilling program at the Gold Rock project in Nevada, demonstrating significant oxide gold mineralization. Notable findings include:
- 48.8 m of 2.17 g/t gold in hole GR20-009
- 32.0 m of 1.41 g/t gold in hole GR20-049
- 38.1 m of 1.11 g/t gold in hole GR20-068
The drilling program aims to expand resources in the ongoing Feasibility Study, with a total of 105 RC holes completed and plans for additional drilling at the Pan Mine as assays are pending.
Fiore Gold Ltd. reported its preliminary production results for Q4 and full fiscal year 2020, with full-year gold production reaching 46,031 ounces, an 11% increase year-over-year, and within guidance. Q4 produced 12,432 ounces of gold at an average realized price of $1,920 per ounce. The company achieved a closing cash balance of $23.2 million, marking a significant increase. They continued organic growth, with exploration activities advancing at Gold Rock and Pan projects. CEO Tim Warman emphasized the importance of these results amid COVID-19 challenges, reinforcing the company’s growth strategy.
