American Marconi Wireless News - Fortitude Gold Commences County Line Mine Operations

The County Line Project is comprised of two historic open pits, the County Line Pit and the East Pit. This initial mineralization is being mined from the bottom of the County Line Pit. A pit layback is planned to commence during the second half of 2026 and extend into the second half of 2027. The layback at the County Line Pit is required to access additional high-grade gold. Concurrent with the operations at the County Line Pit, the Company plans mining lower grade mineralization from the East Pit.

The Company is currently updating its County Line Mineral Resource to include exploration drilling from the East Pit which was drilled subsequent to, and not included in, the original 2022 Resource. In addition, the County Line Project has several areas with exciting exploration potential that are anticipated to expand the Project's mine life, which include a target north of the County Line Pit, an area south of the East Pit, the Newman Ridge area to the east, as well as an area further to the south at the historic Rex Mine.

"We are excited to have begun operations at County Line marking another Fortitude Gold milestone of placing our second Nevada gold mine into production," stated Fortitude Gold CEO and President, Mr. Jason Reid. "In addition, having recently been granted permits for our Scarlet South open pit, we now target our third operating gold mine at Scarlet South in the very near future. Once we are granted permits, our synergistic hub and spoke business plan allows us to place new mines into production much faster and for less capital by leveraging existing infrastructure as opposed to building brand new processing facilities at every new mine. We plan to deliver gold to our Isabella Pearl processing facility from three different sources, Isabella Pearl deep, County Line, and Scarlet South, in 2026."

(Haul trucks deliver first County Line mineralization to Isabella Pearl for processing.)

Mr. Reid continued, "The Biden era permit backlog was a brutal setback for the Company by derailing our original mine building timelines and production targets. If there is silver lining from those four brutal Biden era years, it is that we now get to sell gold ounces at these record gold market price levels under the pro-business and pro-mining Trump Administration where we target permitting additional mines like our Scarlet North and Golden Mile Projects."

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 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 and the fully permitted Scarlet South and County Line mines are in development. 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
[email protected]
www.Fortitudegold.com

SOURCE: Fortitude Gold Corp

View the original press release on ACCESS Newswire

O.M.Souza--AMWN