Fortitude Gold Commences Scarlet South Mine Operations
Rhea-AI Summary
Fortitude Gold (OTCQB:FTCO) announced on January 12, 2026 that its Scarlet South Mine has commenced operations and delivered the first shipment of mineralization to the company's Isabella Pearl gold processing facility.
Scarlet South is an open-pit project located ~500 meters northwest of Isabella Pearl and is the second open-pit on the Isabella Pearl property. The company is cycling a shared mining fleet between Scarlet South and Isabella Pearl to maximize efficiency and minimize startup capital by trucking ore a short distance for processing. Scarlet South is Fortitude Gold's third producing mine, joining Isabella Pearl and County Line. Management said operations will deliver ore from three sources to Isabella Pearl in 2026 while permitting work focuses on Golden Mile and Scarlet North.
Positive
- Commenced production at Scarlet South, the company’s third producing mine
- Short haul to Isabella Pearl enables minimal startup capital and faster ramp
- Shared mining fleet between pits improves operational efficiency
- Company will deliver ore from three sources to Isabella Pearl in 2026
Negative
- Scarlet South and County Line require laybacks to access deeper mineralization
- Permitting focus on Golden Mile and Scarlet North may delay expansion
News Market Reaction
On the day this news was published, FTCO gained 2.45%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
COLORADO SPRINGS, COLORADO / ACCESS Newswire / January 12, 2026 / Fortitude Gold Corp. (OTCQB:FTCO) (the "Company") today announced its Scarlet South Mine has commenced operations and has delivered its first shipment of mineralization to the Company's Isabella Pearl gold processing facility. 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.
The Scarlet South Mine is an open-pit project located approximately 500 meters (0.3 miles) northwest of the Company's operating Isabella Pearl Mine and gold processing facility. The Company is mining both Scarlet South and its Isabella Pearl simultaneously, cycling its mining fleet between both projects for greatest efficiency. Scarlet South mineralization is being mined and trucked the short distance to the Isabella Pearl facilities allowing for minimal startup capital expenditures at an accelerated timeframe. Scarlet South is the second open-pit gold mine on the Company's Isabella Pearl property, which consists of a 10 kilometer (6.2 mile) mineralized trend with numerous additional exploration targets. Scarlet South is the third mine in production for Fortitude Gold, adding to the Company's Isabella Pearl and County Line Mines.
"We are excited to have commenced operations at Scarlet South marking another Fortitude Gold milestone by placing our third Nevada gold mine into production," stated Fortitude Gold CEO and President, Mr. Jason Reid. "Both the Scarlet South and County Line pits have mineralization at surface which is the initial gold being delivered for processing. Both pits require laybacks in the near term to access gold at depth. While the timing and delivery source will vary depending on each mine's progress and specific geology, we are delivering gold to our Isabella Pearl processing facility from three different sources, Isabella Pearl, County Line, and Scarlet South in 2026."
Mr. Reid continued, "With two new mines online and expecting to reach additional mineralization deep in the Pearl after mining further benches, we look to ramp up our operations beyond just residual leaching of the pad. In addition to our ongoing production focus, our permitting effort now turns to our next targeted mine builds at Golden Mile and Scarlet North."
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
greg.patterson@fortitudegold.com
www.Fortitudegold.com
SOURCE: Fortitude Gold Corp.
View the original press release on ACCESS Newswire
FAQ
When did Fortitude Gold (FTCO) start operations at Scarlet South?
How close is Scarlet South to the Isabella Pearl processing facility (FTCO)?
What production sources will feed the Isabella Pearl plant for FTCO in 2026?
What operational advantage does Scarlet South provide to Fortitude Gold (FTCO)?
Will Scarlet South require additional work to reach deeper gold for FTCO?
