Arizona Tribune - Fortitude Gold Drills 3.05 Meters Grading 2.35 g/t Gold Within 7.62 Meters Grading 1.32 g/t Gold at Isabella Pearl Scarlet North

Isabella Pearl Scarlet North drill highlights include (m=meters, g/t=grams per tonne) (full drill table below):

Hole# IPRC-764:

• 9.14 m of 0.71 g/t gold
  including

  • 3.05 m of 1.23 g/t gold

Hole# IPRC-772:

• 21.34 m of 0.66 g/t gold
  including

  • 6.10 m of 1.12 g/t gold

Hole# IPRC-774:

• 18.29 m of 0.89 g/t gold
  including

  • 3.05 m of 2.37 g/t gold

and

• 7.62 m of 1.32 g/t gold
  including

  • 3.05 m of 2.35 g/t gold

Drill results from Isabella Pearl were from the Scarlet North target located just 700 meters northwest of the Isabella Pearl heap leach and process facility. These high-grade oxide step-out drill results expand the mineralization at Scarlet North to the north and build on previously released drill results including 62.48 meters grading 0.73 g/t gold from surface. Initial test work at Scarlet North indicates similar extractability to the nearby Isabella Pearl deposit, whereby oxide gold ores are expected to be processed using a standard heap leach process. The proximity of this mineralization would allow for a short haul distance to Isabella Pearl's existing nearby processing facilities. Drilling at Scarlet North continues to identify surface and near surface gold mineralization. The Company is actively completing baseline studies required for permitting an open pit mine operation at Scarlet North with the Bureau of Land Management (BLM) and Nevada Division of Environmental Protection (NDEP).

"The results from holes IPRC-774 and IPRC-764 are especially significant for this program, as these results extend the mineralization to the north into another high-grade area," stated Mr. Allan Turner, Vice President of Exploration for Fortitude Gold. "Intersecting multi-gram gold intervals show the larger potential of this hydrothermal system beyond what was previously understood. Follow up drilling to further expand and define this area is planned."

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 dividends. The Company's Nevada Mining Unit consists of eight high-grade gold properties. Fortitude Gold owns 100% of its properties, with the exception of East Camp Douglas, which is held in a joint venture with Fortitude owning 60%. The Isabella Pearl Project, which includes the Isabella Pearl and Scarlet South Mines, and County Line Project, which includes the County Line and East Pit Mines, are currently in production in Mineral and Nye Counties, Nevada. 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 and future plans for production. 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
[email protected]
www.Fortitudegold.com

SOURCE: Fortitude Gold Corp

View the original press release on ACCESS Newswire

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