COLORADO SPRINGS, CO / ACCESSWIRE / February 21, 2024 / Fortitude Gold Corp. (OTCQB:FTCO) (the "Company") announced multiple wide, high-grade gold drill intercepts at its East Camp Douglas North target. Intercepts include 1.52 meters grading 32.00 grams per tonne (g/t) gold within 18.29 meters grading 4.28 g/t gold, 6.10 meters grading 4.23 g/t gold within 9.14 meters grading 2.92 g/t gold, and 41.15 meters grading 1.09 g/t gold. Fortitude Gold is a gold producer, developer, and explorer with operations in Nevada, U.S.A. offering investors exposure to both gold production and dividend yield.
East Camp Douglas North drill highlights include (m=meters, g/t=grams per tonne) (full drill table below):
Hole# ECDRC-085:
- 6.10 m of 1.25 g/t gold
incl.
- 3.05 m of 2.06 g/t gold
Hole# ECDRC-096:
- 41.15 m of 1.09 g/t gold
incl.
- 3.05 m of 4.11 g/t gold &
- 4.57 m of 2.37 g/t gold
Hole# ECDRC-099:
- 13.72 m of 1.63 g/t gold
incl.
- 3.05 m of 5.52 g/t gold
Hole# ECDRC-100:
- 25.91 m of 0.83 g/t gold
incl.
- 3.05 m of 1.14 g/t gold &
- 1.52 m of 3.52 g/t gold
Hole# ECDRC-109:
- 6.10 m of 1.72 g/t gold
incl.
- 1.52 m of 5.09 g/t gold
Hole# ECDRC-111:
- 9.14 m of 2.92 g/t gold
incl.
- 6.10 m of 4.23 g/t gold
Hole# ECDRC-116:
- 18.29 m of 4.28 g/t gold
incl.
- 1.52 m of 32.00 g/t gold &
- 1.52 m of 2.14 g/t gold &
- 3.05 m of 9.33 g/t gold
This reverse circulation drill program builds on the Company's December 2023 and January 2024 drill results (click here to review the December 2023 press release and here to review the January 2024 press release). Historic third-party drilling along with the Company's 2023 and 2024 exploration and drill programs have defined high-grade gold at East Camp Douglas North and this recent drill program adds to the current geologic model.
"It is exciting to continue to intercept near surface gold at East Camp Douglas North as we continue to push our drill program further to the north," stated Mr. Allan Turner, Vice President of Exploration for Fortitude Gold. "We are leveraging our 2023 surface mapping program to guide our drill targets and we continue to be pleased with the results. Our mapping projects a potential extension of mineralization further to the north which we plan to follow up with additional step-out drilling by mid-2024."
"Over eighteen meters, or sixty feet, of 4.28 grams per tonne is an impressive width of very high-grade gold," stated Mr. Jason Reid, CEO and President of Fortitude Gold. "Numerous other wide high-grade gold intercepts, including over nine meters of 2.29 grams per tonne gold, speak to our East Camp Douglas property as being a very large, powerful, and high-grade gold system. Not many geologic systems and properties ever return one ounce gold per tonne results like were returned with over one- and one-half meters of 32 grams per tonne gold. With each successful drill program in numerous locations on this very large land position, the critical mass continues to build towards what we hope results in an initial resource in one or several areas of mineralization being drilling at the East Camp north veins."
About Fortitude Gold Corp.:
Fortitude Gold is a U.S. based gold producer targeting projects with low operating costs, high margins, and strong returns on capital. The Company's strategy is to grow organically, remain debt-free and distribute substantial dividends. The Company's Nevada Mining Unit consists of seven high-grade gold properties located in the Walker Lane Mineral Belt and an eighth high-grade gold property in west central Nevada. The Isabella Pearl gold mine, located on the Isabella Pearl mineralized trend, is currently in production. Nevada, U.S.A. is among the world's premier mining friendly jurisdictions.
Cautionary Statements: This press release contains forward-looking statements that involve risks and uncertainties. If you are risk-averse you should NOT buy shares in Fortitude Gold Corp. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding the Company's strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material are forward-looking statements. All forward-looking statements in this press release are based upon information available to the Company on the date of this press release, and the Company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release.
Contact:
Greg Patterson
719-717-9825
greg.patterson@fortitudegold.com
www.Fortitudegold.com
SOURCE: Fortitude Gold Corporation
View the original press release on accesswire.com
