COLORADO SPRINGS, CO / ACCESS Newswire / March 26, 2025 / Fortitude Gold Corp. (OTCQB:FTCO) (the "Company") announced multiple oxide gold drill intercepts from its East Camp Douglas property's lithocap target, located in Mineral County, Nevada. Intercepts include 21.34 meters grading 1.23 grams per tonne (g/t) gold, including 7.62 meters grading 2.14 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 Camp Douglas lithocap drill highlights include (m=meters, g/t=grams per tonne) (full drill table below):
Hole# ECDRC-351:
21.34 m of 1.23 g/t gold
incl.
7.62 m of 2.14 g/t gold
Hole# ECDRC-352:
9.14 m of 0.54 g/t gold
Hole# ECDRC-354:
13.72 m of 0.53 g/t gold, and
6.10 m of 0.52 g/t gold
Hole# ECDRC-357:
12.19 m of 0.59 g/t gold
incl.
1.52 m of 1.07 g/t gold
These latest East Camp Douglas lithocap drill results that were backlogged at the assay lab intercepted multiple intervals of oxide gold mineralization. They build on the Company's March 2024 drill results where 12.19 meters intercepted 2.90 g/t gold, including 3.05 meters grading 5.57 g/t gold.
The Company submitted an Exploration Plan of Operations / Nevada Reclamation Permit application on January 29, 2025, to the Bureau of Land Management and Nevada Division of Environmental Protection Bureau of Regulation and Reclamation for the East Camp Douglas property. This exploration permit is expected to open approximately 25 acres for exploration drilling under Phase 1 of a multiphase authorization (for a total of 150 acres), which includes the lithocap area, as well as the East and West White Rock Springs targets located on the northern portion of the property. This Exploration Plan of Operations, when granted, would allow exploration efforts beyond the current Notice of Intent (NOI) drill permits that limit exploration to just five acres.
"This new high-grade gold zone is one of many exciting, mineralized zones within the lithocap on the southern half of our East Camp Douglas property," stated Mr. Allan Turner, Vice President of Exploration for Fortitude Gold. "Hole ECDRC-351 potentially represents a vent breccia unit with over 21 meters, or 60 feet, of 1.23 grams per tonne gold, including 7.62 meters of 2.14 grams per tonne gold. We are pursuing an Exploration Plan of Operations for more flexibility, optionality, and greater exploration acreage with our drill programs, and once approved, we will be authorized for up to 150 acres of exploration and pre-feasibility related surface disturbance."
"Our massive lithocap at East Camp Douglas has delivered exciting surface and near surface high-grade gold mineralization in numerous zones, and this new high-grade breccia zone adds to the critical mass building at this large target," stated Mr. Jason Reid, CEO and President of Fortitude Gold. "The lithocap is a very large area and it will take time to fully explore it. To continue to intercept high-grade gold is not only very exciting but gives credence to the potential that our mineralized lithocap could grow into something special."
EAST CAMP DOUGLAS LITHOCAP MARCH 2025 DRILL SUMMARY HIGHLIGHTS
Hole #
Angle
From
Interval
Au
deg
Meters
Meters
g/t
ECDRC-351
-45
41.15
21.34
1.23
incl.
41.15
1.52
2.69
incl.
48.77
7.62
2.14
ECDRC-352
-45
30.48
9.14
0.54
51.82
7.62
0.47
92.96
1.52
0.36
ECDRC-354
-45
4.57
1.52
0.95
39.62
13.72
0.53
60.96
6.10
0.52
ECDRC-355
-45
7.62
4.57
0.37
15.24
7.62
0.36
25.91
4.57
0.40
42.67
1.52
0.41
96.01
1.52
1.44
ECDRC-356
-90
0.00
3.05
0.38
ECDRC-357
-45
6.10
12.19
0.59
Incl.
9.14
1.52
1.07
32.00
4.57
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.
