Fiore Gold reports increased quarterly production in Nevada
(Kitco News) - Fiore Gold (TSXV: F) (OTCQB: FIOGF) announced today that the company produced 11,576 ounces of gold during its fiscal third quarter ("Q3‘) of 2021 (quarter ending June 30, 2021), from its Pan open pit mine in White Pine County, Nevada.
The company said that Q3 gold production was an 8% increase over fiscal Q2 2021 as quarterly production trended back to historic levels. Gold sales were 11,741 ounces at an average realized price of $1,815 per ounce.
Additionally, Fiore said that first ore was placed on the new leach pad in June 2021 and commenced irrigation early July, which is expected to further improve gold production in fiscal Q4.
CEO Tim Warman commented, "We are pleased that gold production has trended back to normal levels and we hope to see further improvement in fiscal Q4 as we begin to irrigate fresh ore directly above the liner on the new leach pad. With Pan performing well, we plan to invest in an aggressive exploration program over the next 12-18 months covering our 200 km2 Pan and Gold Rock land package, as well as our newly acquired Illipah project.‘
The company’s corporate strategy is to grow Fiore Gold into a 150,000 ounce per year gold producer. To achieve this, the company intends: to continue to grow gold production at the Pan Mine, while increasing the resource and reserve base
advance the development of the nearby Gold Rock project; to acquire additional production or near-production assets to complement its existing operations.