Fiore Gold (TSXV: F) (“Fiore” or the “Company”) is pleased to announce the results of the Phase I diamond and reverse-circulation (“RC”) drilling program at its Cerro Tostado project in Chile, following up on high-grade epithermal silver mineralisation previously intersected by three of eighteen holes drilled between 2010 and 2012 by Sociedad Quimica Y Minera de Chile SA (“SQM”). Cerro Tostado is located just south of the main and Fortuna zones of Yamana Gold’s flagship El Peñon Mine.
Holes TO17-001 and -002 confirmed the existence of high-grade silver mineralisation within broad envelopes of lower grade silver values. For example, the 1.0 m at 501 g/t silver intercept in hole TO17-001 occurs within an 18.8 m-wide zone averaging 70 g/t silver.
A previously unknown silver mineralized structure was also discovered in hole TO17-002, which ended in an 81-m wide zone with values up to 97 g/t silver over 1.0 m.
Tim Warman, Fiore’s CEO stated:
“By drilling these initial oriented diamond core holes we’ve been able to confirm the north-south striking, steeply-dipping nature of these high-grade silver zones.
We’re also pleased to have intercepted a second mineralized zone beneath the alluvial cover to the east of the main Cerro Tostado hill. Planning is underway for the next phase of drilling to test these structures along strike.”