Fiore Exploration (TSX-V: F), formerly Rouge Resources, is focused on exploring and developing the Pampas El Peñon gold project in Chile which it acquired from Arena Minerals earlier this year. The Pampas El Peñon gold project consists of two separate blocks, lying immediately to the west and north of Yamana Gold’s Pampa Augusta Victoria mine complex that forms part of the El Peñon mine complex; the Pampas El Peñon project covers land in the same geological environment as Yamana’s flagship El Peñon mine.
The El Peñon mine entered production in 1999 and it has an established history of exploration success; the mine produced 227,000 ounces of gold and 7.7 million ounces of silver in 2015 with reported cash costs of US$621 and $8.38 an ounce respectively (Yamana Gold 2015 Annual Report). Fiore also just completed a C$10 million private placement which will allow the company to aggressively follow up on to the epithermal gold-silver targets identified by Arena Minerals.
Fiore also boasts a formidable management team with decades of experience in mineral exploration in South America:
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CEO & Director Tim Warman is a professional geologist with over 25 years of experience in all phases of mineral exploration, from grassroots exploration to feasibility and development. He has held board or senior leadership roles with some of the most successful exploration and development companies of the past decade, which have together discovered over 30 million ounces of gold.
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Advisors and major shareholders Paul Matysek and Frank Guistra are a couple of the most experienced and most successful mineral exploration entrepreneurs in the world. Monsieurs Matysek and Guistra know how to lead a company to a major discovery while creating value for shareholders, their track record speaks for itself.
The chart of Fiore Exploration is impressive with Fiore shares rising by more than 2000% since April:
F.V (Daily)
F shares have followed a textbook bullish high volume stair-step higher pattern since breaking higher in May. If the pattern continues F shares could be embarking on the next leg higher within a few weeks.
For more on the company and the latest activities follow them at ceo.ca
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