Gold Rock is federally permitted, has 30% higher grade than Fiore’s Pan project, and having recently completed a positive PEA is now progressing to Feasibility Study expected mid-2021. Expected gold ounce production at Gold Rock, in combination with Pan, would organically bring Fiore’s production in Nevada over 100,000 ounces.
The PEA provides an updated mineral resource estimate and a base case assessment of developing the Project as a satellite open pit operation that will share significant infrastructure and management with the adjacent Pan Mine. The PEA also identifies a considerable number of opportunities to enhance the project economics as Gold Rock advances to the Feasibility stage by drilling to increase the mineral resource, further metallurgical testing aimed at improving recoveries, and geotechnical drilling aimed at reducing the stripping ratio.
Fiore holds the Gold Rock Project through its wholly-owned subsidiary, GRP Gold Rock, LLC. The Gold Rock Project consists of a large 20,300-hectare contiguous land package on the Battle Mountain-Eureka Trend, anchored by the former Easy Junior Mine, which reportedly produced approximately 2.6 million tonnes at a grade of 0.89 grams per tonne for 74,945 gold ounces in the early 1990s.