Fortitude Gold owns 100% interest in the Golden Mile property located in Nevada’s Walker Lane Mineral Belt. The property covers an area of approximately 9,300 acres consisting of 451 unpatented and 5 patented claims. The Golden Mile property is located in the Bell Mining District, Mineral County, Nevada, approximately 36 kilometers (22 miles) east of the town of Luning, Nevada. Mineralization at the property is intrusion related, with primary gold and copper mineralization associated with skarn style replacement in carbonate units. Secondary mineralization is associated with structurally controlled stockwork and breccia zones. The “Golden Mile Stock” quartz diorite-granodiorite body is believed to be responsible for the gold-copper skarn mineralization. The stock is only exposed on surface in three small areas because most of its northern extent is covered by Tertiary volcanics.
The Company has planned an initial drill program to target one of the two known areas of mineralization for confirmation and delineation drilling. Numerous additional exploration targets exist. In addition, the Company plans to evaluate the known mineralized zones among a much larger conceptual project plan of multiple open pits along a trend at Golden Mile to the northwest and onto the Mina Gold property. The Company is evaluating the potential of at least three pits feeding ore to a strategically located heap leach and process facility. The conceptualized process plant is being evaluated to take the gold to carbon stage and then haul the carbon for processing at the ADR facility at Isabella Pearl for final doré production. Baseline and background studies are being evaluated and budgeted alongside exploration efforts to advance this property. Historic third party exploration has defined two mineralized zones on the property including the following drill intercept highlights:
GOLDEN MILE
Surface & near surface gold
Third party drill intercepts include
| Interval | Grade | From |
|---|---|---|
| 6.10 m | 46.53 g/t Au | 18.29 m |
| 36.60 m | 10.26 g/t Au | 15.20 m |
| 7.62 m | 9.34 g/t Au | 51.82 m |
| 10.70 m | 8.76 g/t Au | Surface |
| 10.67 m | 8.35 g/t Au | 51.82 m |
| 16.70 m | 6.04 g/t Au | 67.10 m |
| 10.70 m | 3.89 g/t Au | 41.10 m |
| 13.70 m | 3.54 g/t Au | 0.30 m |
| 8.20 m | 3.43 g/t Au | 0.30 m |
| 7.62 m | 3.15 g/t Au | 62.48 m |
| 11.90 m | 2.32 g/t Au | 0.30 m |
| 18.29 m | 2.03 g/t Au | Surface |
| 11.90 m | 1.55 g/t Au | 0.30 m |
| 16.80 m | 1.21 g/t Au | 9.10 m |
| 9.20 m | 1.74 g/t Au | 64.00 m |
| 15.20 m | 1.13 g/t Au | 94.50 m |
| 19.81 m | 1.07 g/t Au | 62.48 m |