Last: 4.61
Change: -0.1
Vol: 5,657

News Releases

Fortitude Gold Drills 16.76 Meters Grading 2.19 g/t Gold at County Line

Colorado Springs, Colorado – April 4, 2024 – Fortitude Gold Corp. (OTCQB: FTCO) (the “Company”) announced multiple oxide gold drill intercepts at and near surface from the East Pit target located on the County Line Property.  Intercepts include 16.76 meters grading 2.19 grams per tonne (g/t) gold, 7.62 meters grading 1.28 g/t gold, and 6.10 meters  grading 1.49 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 Pit drill highlights include (m=meters, g/t=grams per tonne) (full drill table below):

The County Line East Pit reverse circulation drill program builds on the Company’s July 2023 drill results where 38.10 meters intercepted 0.75 g/t gold including 3.05 meters grading 2.11 g/t gold.  This program intercepted multiple intervals of oxide gold mineralization grading in excess of 1 gram per tonne at and near surface.  The East Pit is located approximately 500 meters southeast of the main County Line historic open pit.  The Company targets near term County Line gold production from both pits.

The County Line project is located approximately 26 kilometers northwest of the Company’s operating flagship Isabella Pearl gold mine via paved Nevada State Route 361.  The Company targets County Line ore feed for its Isabella Pearl operation.  The proximity of the two properties is expected to allow the trucking of ore from the County Line property to the Company’s Isabella Pearl Project with its existing heap leach pad and gold processing facilities.  The Company filed a Plan of Operations with the Bureau of Land Management in 2023 and targets the County Line project as its second Nevada gold mine. 

“This drill program consistently intercepted much higher-grade gold than we have previously encountered at County Line’s East Pit and looks to be a new discovery of a high-grade gold feeder zone under the pit,” stated Mr. Allan Turner, Vice President of Exploration for Fortitude Gold.  “We await the results of additional assays from this area, but thus far these drill results would indicate we have added ounces at East Pit, and it is likely to have a higher grade associated with it than we previously thought.  Mineralization at East Pit remains open to the north, south, and east, and mapping and surface sampling programs have identified two additional nearby drill targets.”

“It is exciting to see these County Line East Pit drill results, including 16.76 meters of 2.19 grams per tonne gold, indicating a near surface high-grade gold feeder system with solid expansion potential,” stated Mr. Jason Reid, CEO and President of Fortitude Gold.  “Though we initially focused our attention on the high-grade gold at the County Line pit, we had always anticipated the expansion of the East Pit, and these results are confirmation of that.  Having two high-grade gold open pits in close proximity to each other at County Line should allow for efficient mine sequencing.  We eagerly await permit approval to begin mining both these pits as an aggregate operation and trucking the ore a short distance down the highway to our Isabella Pearl project’s heap leach and gold processing facilities.”

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.


Greg Patterson




News Updates