Fortitude Gold Corp [OTCQB: FTCO] has announced multiple high-grade gold drill intercepts below its Isabella Pearl open pit. Oxide intercepts include 3.05 meters grading 15.15 grams per tonne gold (g/t) within 21.34 meters grading 7.21 g/t gold, and 18.29 meters grading 3.72 g/t gold.
Non-oxide intercepts include 6.10 meters grading 12.17 g/t gold within 41.15 meters grading 6.25 g/t gold.
Fortitude Gold is a gold producer, developer, and explorer with operations in Nevada, offering investors exposure to both gold production and a dividend yield.
Fortitude Gold: key facts for investors
- US OTC-listed gold miner which already has a producing mine
- Miner is debt free and pays high dividend yield
- Dividends can be paid in gold
- Operations located in USA’s premier mining jurisdiction
The drill program completed during the fourth quarter of 2022 was designed to test below the projected future Isabella Pearl open pit floor and walls testing for additional oxide ore and to further define minable ore blocks. The program was also designed to better define the transition zone between oxide heap leachable ore and non-heap leachable mineral resources.
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Intercepts are being evaluated for possible inclusion into the updated mineral resource inventory.
“This drill program has given us a better understanding of the oxide and transitional ore blocks in the targeted bottom of the open pit that can be processed using our existing heap leach pad and recovery plant,” explained Barry Devlin, Vice President of Exploration for Fortitude Gold. “In addition, blocks of oxide and transitional mineralisation have been identified below the targeted pit bottom and we are working to include a portion of this mineralization in the upcoming mineral resource update.”
Oxide intercepts including twenty-one meters of over seven grams per tonne gold underscore what a formidable deposit the Isabella Pearl is.
Jason Reid, CEO and President of Fortitude Gold, explained further: “We look to get as much of this oxide and transitional material in the mine plan as possible which is likely to warrant a modification request to our permit to extend and mine the pit a few benches deeper. Though we do not have a current plan to mine nor the facilities to process the high-grade non-oxide gold ore at Isabella Pearl, it is exciting to see non-oxide intercepts including forty-one meters grading over six grams gold and consider future optionality for this material.”
