Fortitude Gold Corp (OTCQB:FTCO), a gold producer, developer, and explorer with operations in Nevada, has reported preliminary production results for the first quarter of 11,536 gold ounces.
The company mined and processed ore from both the Isabella and Pearl zones during the quarter ended March 31, 2021.
Fortitude Gold noted that the Isabella-Pearl deposits' average proven and probable gold grade as of December 31, 2020, was estimated at 3.88 grams per tonne gold.
READ: Fortitude Gold intercepts 20.10 meters of 3.60 grams per tonne gold at its Golden Mile property in Nevada
In a statement, the company said it maintains its 2021 production outlook targeting 40,000 ounces of gold (a range of 36,000 to 40,000 ounces).
The production outlook assumes no disruptions from the coronavirus (COVID-19) global pandemic or unforeseen operational challenges, it added.
Fortitude Gold is a US-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.
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