COLORADO SPRINGS, CO / ACCESSWIRE / May 22, 2024 / Fortitude Gold Corp. (OTCQB:FTCO) (the "Company") announced continued multiple wide, high-grade oxide gold drill intercepts from its West White Rock Springs target located on the northern portion of the East Camp Douglas property. Intercepts include 6.10 meters grading 3.47 grams per tonne (g/t) gold within 9.14 meters grading 2.45 g/t gold, 4.57 meters grading 4.62 g/t gold within 13.72 meters grading 1.83 g/t gold, and 1.52 meters grading 9.79 g/t gold within 15.24 meters grading 1.74 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.
West White Rock Springs drill highlights include (m=meters, g/t=grams per tonne) (full drill table below):
Hole# ECDRC-168:
- 9.14 m of 2.45 g/t gold
incl.
- 6.10 m of 3.47 g/t gold
Hole# ECDRC-171:
- 13.72 m of 1.83 g/t gold
incl.
- 4.57 m of 4.62 g/t gold
Hole# ECDRC-173:
- 30.48 m of 1.21 g/t gold
incl.
- 4.57 m of 2.06 g/t gold &
- 4.57 m of 2.48 g/t gold
Hole# ECDRC-199:
- 15.24 m of 1.74 g/t gold
incl.
- 1.52 m of 9.79 g/t gold &
- 4.57 m of 1.67 g/t gold
Multiple rounds of drilling at East Camp Douglas North in 2023 and 2024 have returned numerous high-grade gold intercepts. Company drilling, combined with historic third-party drilling, continue to define a high-grade gold system at East Camp Douglas North and this recent drill program adds to the current geologic model.
"East Camp's West White Rock Springs target has returned notable high-grade gold intervals," stated Mr. Allan Turner, Vice President of Exploration for Fortitude Gold. "This program focused on infill drilling in previously untested orientations in the central portion of the target area, and further delineation of gold-bearing intervals in the north central portion. Additional exploration efforts planned include very low frequency electromagnetic and ground magnetic geophysical surveys over the entire White Rock Springs project area to discern correlations of structures and gold values. We are delineating the gold mineralization at White Rock Springs that is associated with NNE striking faults and testing the relationship with the regional East-West oriented fault corridor".
"Our East Camp North area continues to deliver exciting and impressive gold grades and interval widths including over thirty meters, or one hundred feet, of 1.2 grams per tonne gold," stated Mr. Jason Reid, CEO and President of Fortitude Gold. "This thick one-gram gold per tonne intercept combined with additional assays as high as 9.79 grams per tonne is exciting as both a potentially substantial and clearly high-grade gold area. Our East Camp is a large district sized land position with numerous gold bearing targets in both veins to the north and within a lithocap to the south. We continue to invest in exploring both of these exciting East Camp target areas with a goal to define initial economic resources."
EAST CAMP DOUGLAS, WEST WHITE ROCK SPRINGS, MAY 2024 DRILL SUMMARY HIGHLIGHTS | |||||||||||||||||
Hole # | Angle | From | Interval | Au | Hole # | Angle | From | Interval | Au | ||||||||
deg | Meters | Meters | g/t | deg | Meters | Meters | g/t | ||||||||||
ECDRC-167 | -45 | 4.57 | 3.05 | 1.39 | ECDRC-174 | -45 | 10.67 | 1.52 | 1.13 | ||||||||
83.82 | 1.52 | 0.59 | 39.62 | 1.52 | 0.63 | ||||||||||||
89.92 | 3.05 | 0.96 | 44.20 | 1.52 | 0.89 | ||||||||||||
incl. | 91.44 | 1.52 | 1.42 | 48.77 | 7.62 | 0.98 | |||||||||||
ECDRC-168 | -45 | 12.19 | 9.14 | 2.45 | 68.58 | 4.57 | 0.56 | ||||||||||
incl. | 12.19 | 6.10 | 3.47 | 86.87 | 1.52 | 0.63 | |||||||||||
22.86 | 4.57 | 0.54 | 108.20 | 1.52 | 2.37 | ||||||||||||
36.58 | 4.57 | 1.73 | 112.78 | 1.52 | 1.14 | ||||||||||||
incl. | 36.58 | 1.52 | 4.42 | 115.82 | 1.52 | 0.97 | |||||||||||
64.01 | 1.52 | 0.89 | ECDRC-175 | -45 | 3.05 | 3.05 | 0.91 | ||||||||||
ECDRC-170 | -60 | 6.10 | 1.52 | 1.06 | 27.43 | 3.05 | 0.66 | ||||||||||
13.72 | 1.52 | 1.82 | 44.20 | 4.57 | 0.56 | ||||||||||||
18.29 | 1.52 | 1.51 | ECDRC-176 | -45 | 89.92 | 1.52 | 1.69 | ||||||||||
ECDRC-171 | -45 | 16.76 | 13.72 | 1.83 | 94.49 | 3.05 | 0.45 | ||||||||||
incl. | 16.76 | 4.57 | 4.62 | ECDRC-177 | -45 | 33.53 | 4.57 | 0.37 | |||||||||
36.58 | 3.05 | 0.38 | 99.06 | 3.05 | 0.90 | ||||||||||||
50.29 | 4.57 | 0.35 | 105.16 | 3.05 | 0.42 | ||||||||||||
56.39 | 4.57 | 0.76 | 111.25 | 3.05 | 1.28 | ||||||||||||
incl. | 56.39 | 1.52 | 1.64 | ECDRC-198 | -45 | 12.19 | 1.52 | 0.37 | |||||||||
ECDRC-172 | -55 | 10.67 | 1.52 | 1.54 | 16.76 | 1.52 | 0.49 | ||||||||||
22.86 | 4.57 | 0.51 | 51.82 | 1.52 | 2.02 | ||||||||||||
28.96 | 4.57 | 0.49 | 59.44 | 6.10 | 0.65 | ||||||||||||
54.86 | 6.10 | 0.55 | ECDRC-199 | -45 | 35.05 | 15.24 | 1.74 | ||||||||||
79.25 | 1.52 | 1.09 | incl. | 35.05 | 1.52 | 9.79 | |||||||||||
ECDRC-173 | -45 | 15.24 | 4.57 | 1.16 | incl. | 39.62 | 4.57 | 1.67 | |||||||||
21.34 | 1.52 | 2.13 | 54.86 | 3.05 | 0.30 | ||||||||||||
30.48 | 1.52 | 0.30 | Assays by American Assay Laboratories, Sparks, Nevada, USA. Meters downhole, not true width. | ||||||||||||||
45.72 | 30.48 | 1.21 | |||||||||||||||
incl. | 50.29 | 4.57 | 2.06 | ||||||||||||||
incl. | 56.39 | 4.57 | 2.48 | ||||||||||||||
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
[email protected]
www.Fortitudegold.com
SOURCE: Fortitude Gold Corporation