Fortitude Gold Corp. (OTCQB:FTCO) has reported multiple gold-bearing drill intercepts from the Scarlet North target at its Isabella Pearl property in Mineral County, Nevada. The results include 6.10 meters grading 3.44 grams per tonne (g/t) gold within 21.34 meters grading 1.27 g/t gold.
Other highlighted results include 3.05 meters grading 2.49 g/t gold within 12.19 meters grading 1.03 g/t gold, along with 4.57 meters grading 2.21 g/t gold within 13.72 meters grading 0.87 g/t gold.
The results came from oxide step-out and infill drilling at Scarlet North. Fortitude Gold said the work has extended the mineralisation trend towards the northwest while also adding information within the target area.
Reported intervals are measured downhole and do not represent true widths. American Assay Laboratories in Sparks, Nevada, conducted the assays.
Scarlet North is located 700 meters northwest of the Isabella Pearl heap leach and processing facility. The company said three parallel, northwest-trending mineralised faults have been identified in the area.
Fortitude Gold also said mineralisation occurs in high-angle fault structures and tabular bodies. Further drilling is targeted at examining possible connectivity within the mineralised corridor.
Fortitude Gold said initial metallurgical test work at Scarlet North indicates similar extractability to the nearby Isabella Pearl deposit, which is processed through a standard heap leach process. The location of the target provides a short haul distance to the existing Isabella Pearl processing facilities, according to the company.
The company is completing baseline studies required for permitting a potential open pit mine operation at Scarlet North with the Bureau of Land Management and the Nevada Division of Environmental Protection. The release does not state that permitting has been completed or approved.
Allan Turner, Fortitude Gold’s Vice President of Exploration, said the latest results support the company’s understanding of the structural and tabular controls on mineralisation at Scarlet North. He said the company plans to continue developing its geological models through additional step-out and infill drilling.
Fortitude Gold described itself as a gold producer, developer and explorer with operations in Nevada, U.S.A. The company’s release also cautioned that forward-looking statements involve risks and uncertainties, that there can be no assurance those statements will prove accurate, and that actual results could differ materially.
The Company reported intercepts including 6.10 meters grading 3.44 grams per tonne (g/t) gold within 21.34 meters grading 1.27 g/t gold; 3.05 meters grading 2.49 g/t gold within 12.19 meters grading 1.03 g/t gold; and 4.57 meters grading 2.21 g/t gold within 13.72 meters grading 0.87 g/t gold.
Scarlet North is part of the Isabella Pearl property in Mineral County, Nevada. The target is located 700 meters northwest of the Isabella Pearl heap leach and process facility.
Fortitude Gold said the results expand the mineralisation trend at Scarlet North to the northwest and continue to infill areas within the target. It said three parallel prominent northwest trending mineralised faults have been identified in the area, and that mineralisation is hosted in high angle fault structures as well as tabular bodies.
The Company said additional drilling is targeted to assess potential connectivity within the mineralised corridor. Mr Allan Turner, Vice President of Exploration, said the Company plans to continue advancing its models through additional step-out and infill drilling.
Fortitude Gold said initial metallurgical test work at Scarlet North indicates similar extractability to the nearby Isabella Pearl deposit, which is processed using a standard heap leach process. The release does not provide further metallurgical results.
The Company said it is actively completing baseline studies required for permitting an open pit mine operation at Scarlet North with the Bureau of Land Management (BLM) and Nevada Division of Environmental Protection (NDEP). The source does not state that permitting has been completed or approved.
The release states that the drill measurements are downhole and not true width, and that assays were conducted by American Assay Laboratories, Sparks, Nevada, USA. It also says the release contains forward-looking statements involving risks and uncertainties, that there can be no assurance that those statements will prove accurate, and that actual results could differ materially. Fortitude Gold identified itself as a gold producer, developer and explorer with operations in Nevada, U.S.A.; the source does not provide a separate risk assessment of the drilling results.