Fortitude Gold Receives Isabella Pearl Deep Permit

Rhea-AI Summary

Fortitude Gold Corp. (OTCQB:FTCO) has received regulatory approvals to mine deeper in its Isabella Pearl deposit in Nevada. The Bureau of Land Management and Nevada Division of Environmental Protection's Bureau of Mining Regulation and Reclamation have granted permission to mine approximately 80 feet deeper than previously authorized in the Pearl portion of the deposit.

This decision allows the company to access deeper oxide and oxide transitional ore in the Pearl zone, which can be mined and processed along with ore from the Civit Cat portion of the Isabella Pearl deposit. The Pearl deep contains high-grade oxide, oxide-transitional, and sulphide gold ores. A portion of the oxide and oxide-transitional ores are expected to be processed using the company's existing heap leach operation.

Positive

• Received regulatory approvals to mine 80 feet deeper in Isabella Pearl deposit
• Access to additional high-grade oxide and oxide-transitional gold ores
• Potential increase in gold production through existing heap leach operation

Negative

• None.

COLORADO SPRINGS, CO / ACCESSWIRE / September 18, 2024 / Fortitude Gold Corp. (OTCQB:FTCO) (the "Company") today announced it has received all regulatory approvals and permits to mine deeper in its Isabella Pearl deposit. 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.

A positive decision was granted by the Bureau of Land Management and the Nevada Division of Environmental Protection's Bureau of Mining Regulation and Reclamation allowing the Company to mine approximately 80 feet deeper than previously authorized in the Pearl portion of the Isabella Pearl deposit. Deeper oxide and oxide transitional ore in the Pearl zone may now be mined and sequenced for processing along with ore from the Civit Cat portion of the Isabella Pearl deposit. The Pearl deep contains high-grade oxide, oxide-transitional, and sulphide gold ores, a portion of the former two are expected to be processed using the Company's existing heap leach operation.

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 substantial 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. 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 Corporation

View the original press release on accesswire.com

FAQ

What new permit did Fortitude Gold (FTCO) receive for its Isabella Pearl mine?

Fortitude Gold received approvals to mine approximately 80 feet deeper in the Pearl portion of its Isabella Pearl deposit in Nevada.

Which regulatory bodies approved Fortitude Gold's (FTCO) deeper mining permit?

The Bureau of Land Management and the Nevada Division of Environmental Protection's Bureau of Mining Regulation and Reclamation approved the deeper mining permit.

What types of gold ores are found in the deeper part of Fortitude Gold's (FTCO) Isabella Pearl deposit?

The deeper part of the Pearl zone contains high-grade oxide, oxide-transitional, and sulphide gold ores.

How will Fortitude Gold (FTCO) process the newly accessible ores from the Isabella Pearl mine?

A portion of the oxide and oxide-transitional ores are expected to be processed using the company's existing heap leach operation.