The White Pine county mine produced 46,031oz gold, an 11% year-on-year improvement, and within the guidance range of 45,000-48,000oz. Full-year sales amounted to 46,334oz at an average realised price of US$1,681/oz.

Fourth-quarter output totalled 12,432oz. Sales for the period totalled 12,455oz at an average price of $1,920.

Fiore said Pan benefitted from positive ore reconciliation and a successful transition from run-of-mine to crushed ore placement.

The strong operational and metal price-performance boosted the treasury to $23.3 million.

To date, there have been no coronavirus infections at the site.

The company is looking to grow to 100,000-150,000ozpa of production leveraging the exploration potential at Pan and the nearby Gold Rock property, for which it started work on a feasibility study for publication later in 2021. It has completed 21,741m of drilling at Pan this year, and a resource update is being prepared for publication soon.

A third potential leg to the company's growth is the Golden Eagle project in Washington state, where it has a 2Moz measured and indicated resource.

Shares in the company (TSXV:F) have gained more than 51% since June and last traded at C$1.62, capitalising it at $158.3 million (US$120.6 million).