Fiore Exploration Ltd.’s objective is to acquire undervalued exploration and development-stage mineral assets in the Americas, beginning with a strategic land position around Yamana’s high-grade El Peñon mine in Chile. With global mineral exploration budgets at less than half of their 2012 peak, Fiore’s experienced management team has an unparalleled opportunity to acquire world-class assets across a number of mining-friendly jurisdictions. The fall-off in exploration spending has also drastically reduced exploration costs, and made high-quality exploration staff and contractors readily available for the first time in many years.
Yamana’s El Peñon 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’s Pampas El Peñon properties lie immediately west, south and north of the northernmost portion of Yamana’s El Peñon deposit, known as the Pampas Augusta Victoria Complex. Our Cerro Tostado project is located just south of the Mina Fortuna and Main El Peñon complexes.
In addition to our projects adjacent to the El Peñon mine, Fiore is in discussions to acquire additional projects in Chile and elsewhere in the Americas which the company believes hold excellent potential for discoveries.
Fiore Exploration is listed on the TSX Venture Exchange under the trading symbol "F".