Vancouver – Fiore Gold Ltd. (TSXV: F) (OTCQB: FIOGF) (“Fiore” or the “Company”) is pleased to announce the results of the ongoing drilling program at its Pan mine in Nevada. This drilling program is part of a long-term program aimed at expanding the resource and reserve base and extending the life of the mine.The sixty-four holes reported here have been drilled at multiple locations around the North Pan and South Pan main pits and the smaller Syncline and Black Stallion satellite pits (Figure 1).
The holes should test the potential to expand existing oxide reserves both deep and laterally beyond current reserve boundaries. The most recent proven and probable reserve estimate from 2018 shows 318,000 gold ounces with an average grade of 0.51 g / t gold (0.015 ounces / tonne), with a reserve cut-off grade of 0.21 g / t gold for the mines North and Central and 0.14 g / t gold for the South Mine.
Fiore CEO Tim Warman said, “This recent drilling program has produced some excellent results and shows that near-surface oxide gold mineralization extends well beyond the current Pan Pan reserves. Detailed mapping of the North Pit has subtle but important northwest Southeastern transverse structures identified that appear to localize higher grade mineralization, and the current drilling program has successfully targeted these structures far beyond the pit edges.