Fortitude Gold Drills 3.05 Meters Grading 6.81 g/t Gold Within 27.43 Meters Grading 1.49 g/t Gold From Surface at East Camp Douglas North
Colorado Springs, Colorado – January 22, 2024 – Fortitude Gold Corp. (OTCQB: FTCO) (the “Company”) announced multiple wide, high-grade surface and near surface gold drill intercepts at its East Camp Douglas North target. Intercepts include 3.05 meters grading 6.81 grams per tonne (g/t) gold within 27.43 meters grading 1.49 g/t gold from surface, 7.62 meters grading 1.96 g/t gold within 12.19 meters grading 1.45 g/t gold, and 3.05 meters grading 5.71 g/t gold within 9.14 meters grading 2.40 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):
This reverse circulation drill program builds on the Company’s December 2023 drill results at East Camp Douglas North, which included 1.52 meters grading 23.00 g/t gold within 4.57 meters grading 8.80 g/t gold and 18.29 meters grading 1.02 g/t gold (click here to review the December 2023 press release). Historic third-party drilling along with the Company’s 2023 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 significant surface and near surface gold at East Camp Douglas North,” stated Mr. Allan Turner, Vice President of Exploration for Fortitude Gold. “Hole locations were based on detailed surface mapping and sampling campaigns that were performed in 2023. The surface mapping indicates that the structures that host the gold continue along strike into areas not yet drilled. We are currently updating our geologic model with results from this program and are planning a follow up drill program the first half of 2024.”
“27.43 meters, or 90 feet, of 1.49 grams per tonne gold starting at surface speaks to the exciting potential of our East Camp Douglas property,” stated Mr. Jason Reid, CEO and President of Fortitude Gold. “Within that wide 27.43 meter intercept from surface is 3.05 meters, or 10 feet, of 6.81 grams per tonne gold. Other surface and near surface high-grade gold intercepts in both these and past results add critical mass as we strive to understand both the geologic setting and identify mineral potential. Our goal continues to be the discovery and delineation of several near surface gold deposits that could potentially be mined as open pits. These numerous high-grade gold intercepts indicate exciting exploration targets for both our northern veins and the larger southern lithocap structure. High-grade gold intercepts like these, on our district size land position, speak to the exciting potential of East Camp.”
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 five high-grade gold properties located in the Walker Lane Mineral Belt and a sixth 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