American Marconi Wireless News - Fortitude Gold Drills 3.05 meters Grading 12.90 g/t gold within 24.38 meters Grading 3.89 g/t gold at East Camp Douglas

East Camp Douglas White Rock West drill highlights include (m=meters, g/t=grams per tonne) (full drill table below):

Hole# ECDRC-201:

• 24.38 m of 3.89 g/t gold
  including

  • 1.52 m of 9.39 g/t gold

  • 1.52 m of 11.11 g/t gold

  • 3.05 m of 12.90 g/t gold

Hole# ECDRC-205:

• 12.19 m of 1.37 g/t gold

Hole# ECDRC-207:

• 9.14 m of 2.57 g/t gold
  including

  • 1.52 m of 6.77 g/t gold

• 15.24 m of 1.17 g/t gold
  Including

  • 4.57 m of 2.86 g/t gold

Hole# ECDRC-209:

• 10.67 m of 2.08 g/t gold

Hole# ECDRC-210:

• 47.24 m of 1.13 g/t gold
  including

  • 1.52 m of 9.47 g/t gold

Hole# ECDRC-211:

• 4.57 m of 1.06 g/t gold

Hole# ECDRC-358:

• 7.62 m of 4.59 g/t gold
  including

  • 1.52 m of 17.00 g/t gold

Hole# ECDRC-359:

• 7.62 m of 3.13 g/t gold
  Including

  • 1.52 m of 11.20 g/t gold

Drill results from East Camp Douglas were from the White Rock West targets located on the northern half of the property. The recently announced $40 million joint venture with Hawthorne Land and Minerals initiated this season's first drill program, which has intercepted extensive high-grade gold across substantial widths in multiple holes. The Company is currently mobilizing a second drill rig for East Camp Douglas, which is expected to begin drilling in the coming weeks.

"We are excited with these numerous high-grade gold drill results, particularly given the substantial widths encountered near surface," stated Mr. Allan Turner, Vice President of Exploration for Fortitude Gold. "Our focus now turns to expanding the mineralization in this specific area. While this area represents a small fraction of our overall land position at East Camp Douglas, we see significant upside with other known high-grade mineralized areas like White Rock East and the lithocap to the south. We are actively developing future drill programs for this area aimed at delineating a resource suitable for mining. Assuming we can continue to expand this area with similar high-grade results, we believe it has the potential to grow rapidly."

"These extensive high grade and wide gold drill intercepts speak to the potential of a substantial gold deposit in this area," stated Mr. Jason Reid, CEO and President of Fortitude Gold. "24.38 meters, or 78 feet of high-grade 3.89 grams per tonne gold is a serious gold drill intercept. Over 47 meters, or 154 feet of 1.13 grams per tonne gold speaks to extensive high-grade mineralized widths. While it is early in this property's exploration, double digit high-grade grams per tonne gold intervals over a meter including 11.10 grams, 11.20 grams, 12.90 grams, 13.88 grams, and 17.00 grams per tonne gold are not only beyond exciting but are a rare occurrence. White Rock West is situated on a small portion of our East Camp Douglas district-sized land position where we believe numerous deposit discoveries are possible. These exciting drill results underscore that fact and are indicative of a potential high-grade deposit discovery in our near future."

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, Scarlet South, and County Line 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

M.Thompson--AMWN