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Fiore gold’s pan mine produces 1,809 ounces of gold in October

Fiore Gold Ltd has provided an operational update on its Pan Mine in White Pine County, Nevada. Mine production in October totalled 425,634 tons of ore and 473,803 tons of waste, with the mine now maintaining a consistent mining rate of 14,000 tons per day (tpd) of ore. Gold production for October was 1,809 ounces, a significant increase over the 1,602 ounces produced in September.

As in any heap leach operation, increases in gold production will lag ore production, so we expect to see further increases in gold production going forward as leaching moves towards a steady state, and as ore stacking begins on the new Phase IIA leach pad expansion. Fiore is projecting gold production of 35-40,000 ounces in fiscal 2018 (October 2017 through September 2018), with gold production weighted towards the second half of FY2018 as higher-grade ore is mined.

Work on the Phase II Leach Pad expansion is nearing completion, with the HDPE liner completely tied in four days ahead of schedule, and placement of crushed overliner material and solution piping advancing well.
Tim Warman, CEO of Fiore, commented: “October was another strong month for the Pan Mine, as our team transitioned from the restart and ramp-up phase to steady-state mining. Monthly gold production continues to climb, costs are in line with budget, and the mine is now generating operating cash flow. We are especially pleased with the progress on the new leach pad expansion, which will double our leach pad capacity and should improve overall leach performance.”

Early in 2018, Fiore will use a portion of the new leach pad to construct two test cells of approximately 10,000 tons each to compare the leaching characteristics of crushed vs. run of mine ore. The testing will utilise the crusher currently on site to produce overliner material. Previous laboratory-scale tests have suggested that the addition of a crusher circuit would increase gold recoveries at Pan, particularly from the harder, more silicified North Pit ore. Results from this field test should be ready by mid-2018 and will help determine if the addition of a crushing circuit is warranted.

Exploration work aimed at increasing the resource and reserve base at Pan is also ongoing, with several drill targets identified proximal to both the North and South Pits. Drilling is expected to commence in early 2018.