51.22 F
April 18, 2024
PI Global Investments

Fortitude Gold reports exciting intercepts at East Camp Douglas

US gold explorer Fortitude Gold Corp. (OTCQB: FTCO) has just announced multiple wide, high-grade surface and near surface gold drill intercepts at its East Camp Douglas North target. 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.

Intercepts include 3.05 meters grading 6.81 grams per tonne (g/t) gold within 27.43 meters grading 1.49 g/t gold from surface, 7.62 meters grading 1.96 g/t gold within 12.19 meters grading 1.45 g/t gold, and 3.05 meters grading 5.71 g/t gold within 9.14 meters grading 2.40 g/t gold.

Fortitude Gold’s strategy is to grow organically, remain debt-free and distribute substantial dividends. Its Nevada Mining Unit consists of five high-grade gold properties located in the Walker Lane Mineral Belt and a sixth high-grade gold property in west central Nevada.

Significant surface and near surface gold

“It is exciting to continue to intercept significant surface and near surface gold at East Camp Douglas North,” explained Allan Turner, Vice President of Exploration for the US gold miner.”

Hole locations were based on detailed surface mapping and sampling campaigns that were performed in 2023. The surface mapping indicates that the structures that host the gold continue along strike into areas not yet drilled. Fortitude Gold is currently updating its geologic model with results from this program and is planning a follow up drill program for the first half of 2024.

27.43 meters, or 90 feet, of 1.49 grams per tonne gold starting at surface speaks to the exciting potential of the East Camp Douglas property.

Exciting gold exploration trends

Jason Reid, CEO and President of Fortitude Gold said: “Within that wide 27.43 meter intercept from surface is 3.05 meters, or 10 feet, of 6.81 grams per tonne gold. Other surface and near surface high grade gold intercepts in both these and past results add critical mass as we strive to understand both the geologic setting and identify mineral potential.”

Reid said Fortitude’s goal continues to be the discovery and delineation of several near surface gold deposits that could potentially be mined as open pits.

These numerous high-grade gold intercepts indicate exciting exploration targets for both the northern veins and the larger southern lithocap structure. High-grade gold intercepts like these, on a district size land position, speak to the exciting potential of East Camp.

Podcast: Gold mining and an attractive dividend yield with Jason Reid, CEO of Fortitude Gold

Source link

Related posts

Bitcoin Leaps Over Silver, Targets Gold in ETF Market


Crosby says he’s ‘got to earn’ chance to win 3rd gold at Olympics


New Gold to increase gold production by 35% in 2026


Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.