Fortitude Gold Announces Intrepid Gold Discovery Drilling 1.21 g/t Gold Over 27.43 Meters
Fortitude Gold Corp. (OTCQB:FTCO) announced a significant gold discovery at its Intrepid property in Mineral County, Nevada. The company intercepted 1.21 grams per tonne (g/t) gold over 27.43 meters, including 6.10 meters at 2.01 g/t gold. This discovery fits well with the company's hub and spoke operations, being close to the East Camp Douglas property and Isabella Pearl operations. Vice President of Exploration, Allan Turner, expressed optimism about the drilling results and mentioned plans for additional drilling to understand the area's gold mineralization. CEO Jason Reid highlighted the potential for future mining developments and praised the exploration team's efforts.
- Fortitude Gold intercepted 1.21 g/t gold over 27.43 meters at Intrepid.
- The drilling included a high-grade segment of 6.10 meters at 2.01 g/t gold.
- The Intrepid property is strategically located near the Company's East Camp Douglas and Isabella Pearl operations.
- The discovery was made during the initial drill program on a greenfield property.
- Additional drilling is needed to fully understand the extent of gold mineralization.
- Uncertainty remains if the gold mineralization at Intrepid will develop into a future mine.
COLORADO SPRINGS, CO / ACCESSWIRE / June 27, 2024 / Fortitude Gold Corp. (OTCQB:FTCO) (the "Company") announced it has made a gold discovery at its Intrepid property located in Mineral County, Nevada. The Company intercepted 1.21 grams per tonne (g/t) gold over 27.43 meters, including 6.10 meters grading 2.01 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.
The Intrepid property fits well into the Company's hub and spoke approach to operations. Located within close trucking distance, Intrepid sits between the Company's East Camp Douglas property and its Isabella Pearl operations, approximately 14 miles from the latter.
"It is exciting to intercept 1.2 grams per tonne gold over an extended interval of 27 meters which included over 6 meters of 2.01 grams per tonne gold with our initial drill program at Intrepid," stated Mr. Allan Turner, Vice President of Exploration for Fortitude Gold. "Hole INRC-012 was drilled to the northwest into a valley discovering this near surface gold-bearing unit. Based on this discovery, additional drilling is planned to test the extent of this gold mineralization and to better understand the structural conditions of this area".
"Al and his exploration team have done a terrific job in making this exciting new near surface high-grade gold discovery," stated Mr. Jason Reid, CEO and President of Fortitude Gold. "Time will tell if the gold mineralization at Intrepid develops into a future mine, but to intercept gold on our initial drill program on a greenfield property that we believe has never been drilled before is exciting. Equally as exciting, its location is a very short haul distance to our Isabell Pearl process facility, creating great potential future optionality."
INTREPID, JUNE 2024 DRILL SUMMARY HIGHLIGHTS | |||||
Hole # | Angle | From | Interval | Au | |
deg | Meters | Meters | g/t | ||
INRC-012 | -45 | 38.10 | 6.10 | 0.56 | |
48.77 | 27.43 | 1.21 | |||
incl. | 51.82 | 7.62 | 1.67 | ||
incl. | 62.48 | 6.10 | 2.01 | ||
85.34 | 3.05 | 0.31 | |||
92.96 | 6.10 | 0.33 | |||
INRC-014 | -55 | 15.24 | 1.52 | 0.48 | |
INRC-015 | -50 | 10.67 | 4.57 | 0.64 | |
INRC-016 | -50 | 15.24 | 3.05 | 0.61 | |
21.34 | 10.67 | 0.34 | |||
INRC-017 | -50 | 12.19 | 4.57 | 0.61 | |
INRC-018 | -50 | 9.14 | 1.52 | 0.42 | |
Assays by American Assay Laboratories, Sparks, Nevada, USA. Meters downhole, not true width. | |||||
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
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