Fortitude Gold Drills 1.52 Meters Grading 2.41 g/t Gold Within 18.29 Meters Grading 1.03 g/t Gold at East Camp Douglas North

Rhea-AI Summary

Fortitude Gold announced multiple high-grade oxide gold drill intercepts from its East White Rock Springs target at East Camp Douglas. Notable results include 1.52 meters grading 2.41 g/t gold within 18.29 meters grading 1.03 g/t gold, and 1.52 meters grading 4.36 g/t gold within 10.67 meters grading 1.02 g/t gold. Drilling has consistently returned high-grade intercepts, enhancing the current geological model. The company recently completed geophysical surveys and is analyzing the data, believing gold mineralization is linked to NNE striking faults. Fortitude Gold continues to explore this area to define gold-bearing intervals further.

Drill highlights include: Hole# ECDRC-183: 10.67 m of 1.02 g/t gold, incl. 1.52 m of 4.36 g/t gold; Hole# ECDRC-185: 9.14 m of 1.10 g/t gold, incl. 3.05 m of 2.41 g/t gold; Hole# ECDRC-186: 22.86 m of 0.91 g/t gold, incl. 6.10 m of 1.48 g/t gold; Hole# ECDRC-187: 18.29 m of 1.03 g/t gold, incl. 1.52 m of 2.41 g/t gold.

Positive

• Multiple high-grade gold intercepts discovered.
• 1.52 meters grading 2.41 g/t gold within 18.29 meters grading 1.03 g/t gold.
• 1.52 meters grading 4.36 g/t gold within 10.67 meters grading 1.02 g/t gold.
• Consistent high-grade intercepts enhance geological model.
• Recent geophysical surveys completed for further analysis.
• Exploration focused on infill drilling and delineating gold-bearing intervals.
• Potential gold mineralization associated with NNE striking faults.

Negative

• No information provided on potential production timelines.
• Geophysical survey data still under analysis, delaying concrete results.
• No immediate updates on financial impacts from the drilling results.

COLORADO SPRINGS, CO / ACCESSWIRE / June 4, 2024 / Fortitude Gold Corp. (OTCQB:FTCO) (the "Company") announced continued multiple wide, high-grade oxide gold drill intercepts from its East White Rock Springs target located on the northern portion of the East Camp Douglas property. Intercepts include 1.52 meters grading 2.41 grams per tonne (g/t) gold within 18.29 meters grading 1.03 g/t gold, 1.52 meters grading 4.36 g/t gold within 10.67 meters grading 1.02 g/t gold, and 6.10 meters grading 1.48 g/t gold within 22.86 meters grading 0.91 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 White Rock Springs drill highlights include (m=meters, g/t=grams per tonne) (full drill table below):

Hole# ECDRC-183:

• 10.67 m of 1.02 g/t gold

incl.

• 1.52 m of 4.36 g/t gold

Hole# ECDRC-185:

• 9.14 m of 1.10 g/t gold

incl.

• 3.05 m of 2.41 g/t gold

Hole# ECDRC-186:

• 22.86 m of 0.91 g/t gold

incl.

• 6.10 m of 1.48 g/t gold

Hole# ECDRC-187:

• 18.29 m of 1.03 g/t gold

incl.

• 1.52 m of 2.41 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 East White Rock Springs target has returned notable thick, 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. We recently completed geophysical surveys in the White Rock Springs area and are in the process of analyzing the data. We believe gold mineralization at White Rock Springs is associated with NNE striking faults and also will continue to test a regional East-West oriented fault corridor."

EAST CAMP DOUGLAS, EAST WHITE ROCK SPRINGS, JUNE 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-157	-90		0.00	12.19	0.97		ECDRC-186	-45		4.57	22.86	0.91
		incl.	0.00	3.05	1.22				incl.	9.14	1.52	2.82
		incl.	9.14	3.05	1.97				incl.	12.19	6.10	1.48
ECDRC-158	-45		0.00	4.57	0.74					28.96	4.57	0.67
ECDRC-159	-45		1.52	3.05	0.93		ECDRC-187	-55		3.05	4.57	1.14
		incl.	1.52	1.52	1.19				incl.	3.05	1.52	2.04
ECDRC-161	-45		1.52	4.57	0.51					13.72	18.29	1.03
ECDRC-164	-45		120.40	3.05	1.08				incl.	25.91	1.52	2.41
			124.97	7.62	0.81		ECDRC-188	-45		7.62	3.05	1.45
			137.16	1.52	2.50					15.24	1.52	0.78
			141.73	3.05	0.64					22.86	3.05	0.41
ECDRC-180	-45		0.00	4.57	0.31					28.96	1.52	0.50
ECDRC-181	-45		3.05	1.52	0.53		ECDRC-189	-45		0.00	1.52	0.31
ECDRC-183	-45		0.00	10.67	1.02					9.14	1.52	0.77
		incl.	3.05	1.52	4.36		ECDRC-190	-45		9.14	1.52	0.39
			16.76	3.05	0.41					21.34	3.05	0.58
ECDRC-184	-45		0.00	6.10	0.96		Assays by American Assay Laboratories, Sparks, Nevada, USA. Meters downhole, not true width.
		incl.	3.05	1.52	1.91
			44.20	7.62	0.97
ECDRC-185	-45		0.00	9.14	1.10
		incl.	4.57	3.05	2.41
			10.67	1.52	0.54
			22.86	3.05	0.58

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

View the original press release on accesswire.com

FAQ

What are the recent drilling results for Fortitude Gold's FTCO East Camp Douglas property?

Recent drilling at East Camp Douglas yielded 1.52 meters grading 2.41 g/t gold within 18.29 meters grading 1.03 g/t gold and other high-grade intercepts.

What are the key highlights from the East White Rock Springs drill program?

Hole# ECDRC-183 recorded 10.67 meters of 1.02 g/t gold, including 1.52 meters of 4.36 g/t gold. Hole# ECDRC-187 recorded 18.29 meters of 1.03 g/t gold, including 1.52 meters of 2.41 g/t gold.

What potential geological features are associated with Fortitude Gold's recent drill results?

The gold mineralization at White Rock Springs is believed to be associated with NNE striking faults.

What was the focus of the recent drilling program at East Camp Douglas?

The program focused on infill drilling in previously untested orientations and further delineation of gold-bearing intervals in the north-central portion.

How has the recent drilling affected Fortitude Gold's geological model?

The consistent high-grade intercepts from recent drilling have enhanced the current geological model of East Camp Douglas North.