Fortitude Gold Corp (OTCQB:FTCO) has reported positive metallurgical test results from its Golden Mile property, with column leach testing performed during the test work recording up to 85% gold recovery.
The Golden Mile property covers about 9,300 acres, consisting of 451 unpatented and five patented claims in the Bell Mining District of Nevada.
With the positive results, the gold company is moving closer to a production decision and plan for Golden Mile.
READ: Fortitude Gold encouraged by drill results from lithocap target at East Camp Douglas, Nevada
As the Fortitude Gold announcement noted, positive gold recovery results confirm the Golden Mile mineralization is amenable to heap leach processing. Column leach test work will carry on at the site for a total of 90 days of testing.
"With these excellent gold recovery results, we move the Golden Mile property closer to crossing the threshold of a production decision," Jason Reid, Fortitude Gold's CEO and President said in the statement. "Up to 85% gold extraction after 60 days under column leach and with the recovery curve continuing to demonstrate additional extraction is possible, we have checked the very important project due diligence box of metallurgy.”
Reid went on to explain what the next steps at Golden Mile will be.
“Metallurgical gold extraction was one of two primary due diligence items remaining, the other being continuity of mineralization. One exploration drill is currently on-site, and another is being mobilized to the Golden Mile property as we prepare for an infill and step-out drill program to commence later this month. This exploration program targets additional mineralization and a resource that warrants a production decision. Numerous revisions to the Golden Mile project and process facility layout, open-pit design, environmental background studies and infrastructure evaluations are underway.”
From here, the gold company will work to complete its due diligence on Golden Mile and make a production decision for the project and advance towards the mine.
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