Fortitude Gold Corp. (OTCQB:FTCO) has announced multiple gold drill intercepts from the Roosevelt target at its East Camp Douglas property in Mineral County, Nevada. The reported results include narrow higher-grade intervals within broader mineralised zones.
#Roosevelt target drill results
The results include 1.52 meters grading 13.20 grams per tonne (g/t) gold within 28.96 meters grading 2.07 g/t gold.
Other reported intervals include 4.57 meters grading 4.79 g/t gold within 18.29 meters grading 1.48 g/t gold, and 1.52 meters grading 5.94 g/t gold within 12.19 meters grading 2.00 g/t gold.
Fortitude identified Hole# ECDRC-313 with 12.19 m of 2.00 g/t gold, including 1.52 m of 5.94 g/t gold. Hole# ECDRC-371 returned 28.96 m of 2.07 g/t gold, including 1.52 m of 13.20 g/t gold and 1.52 m of 5.86 g/t gold.
#Location and geological setting
The Roosevelt results are located approximately 400 meters north of the White Rock West target at the northern end of the district. Fortitude said the target bridges mineralisation between the Triumph and White Rock West areas.
East Camp Douglas contains different styles of gold-bearing mineralisation across its southern and northern areas. The southern portion is associated with low-sulfidation mineralisation and a silica lithocap, while the northern portion contains high-sulfidation style gold-bearing mineralisation.
#Exploration programme and regulatory conditions
Fortitude said three exploration drills are operating at East Camp Douglas. Allan Turner, the company’s Vice President of Exploration, said the work is aimed at a targeted initial resource in the northern area of the property.
Turner said he was optimistic that the company would receive its Plan of Operation for Exploration in the fourth quarter of 2026. According to the company, receipt of the plan would allow additional drill-pad disturbance to further delineate the gold-bearing structural corridor. The company also said current regulatory restrictions limit the areas where it has permission to drill.
Fortitude President and CEO Jason Reid said the company plans to expand known mineralised areas and test additional prospective areas once regulatory restrictions are lifted. These plans remain subject to the stated regulatory conditions.
#East Camp Douglas ownership and property details
East Camp Douglas is located in the Silver Star mining district, approximately 6 mi (10 km) southwest of Mina, Nevada. The property comprises 540 unpatented lode mineral claims, 24 unpatented placer claims, 12 patented mining claims and two fee land parcels.
The property is held through a joint venture in which Fortitude owns 60% and Hawthorne Land & Minerals, LLC owns 40%. Fortitude contributes the East Camp Douglas property, while Hawthorne contributes a total of $40 million for exploration and development.
#Company background and stated risks
Fortitude Gold describes itself as a U.S.-based gold producer, developer and explorer. Its Nevada Mining Unit consists of eight high-grade gold properties. The Isabella Pearl Project and County Line Project are currently in production in Mineral and Nye Counties, Nevada. Fortitude owns 100% of its properties other than East Camp Douglas, which is subject to the joint venture arrangement.
The company said its announcement contains forward-looking statements involving risks and uncertainties, including statements concerning its strategy and future production plans. It cautioned that such statements may not prove accurate, that actual results could differ materially, and that it assumes no obligation to update them. Further exploration activity described in the announcement is also subject to regulatory restrictions and receipt of the Plan of Operation for Exploration.
#Key Takeaways
- Fortitude Gold reported Roosevelt target intercepts including 1.52 meters grading 13.20 g/t gold within 28.96 meters grading 2.07 g/t gold.
- Additional results included 4.57 meters grading 4.79 g/t gold within 18.29 meters grading 1.48 g/t gold.
- The Roosevelt target is approximately 400 meters north of White Rock West and lies between the Triumph and White Rock West target areas.
- Three exploration drills are operating at East Camp Douglas, while further drill-pad disturbance remains subject to regulatory conditions and the Plan of Operation for Exploration.
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