Fortitude Gold Corp, a precious metals company focused on Nevada, has unveiled the exploration results from its 2021 Scarlet phase II drill program.
The 2Q exploration initiative returned several promising intercepts including 4.57 meters (m) of 3.19 grams per tonne (g/t) gold within 19.81 meters grading 1.57 g/t gold.
According to Fortitude, the mineralization in question is associated with the northwestern structural extensions of its Isabella Pearl mine located in Mineral County, Nevada.
READ: Fortitude Gold sees record 2Q production, net income of $8.3M and strong cash position of $41.5M
The exploration included a 15-hole reverse circulation program targeting the south Scarlet area located approximately 650 meters northwest of the company's operational Isabella Pearl mine.
The 2Q efforts were designed to build on first-quarter Scarlet drill results released in April 2021.
The company noted substantial widths and gold grades intercepted oxide mineralization with potential to be processed at the Isabella Pearl heap leach pad and gold process plant.
"This latest drill program at Scarlet was designed to further define the lower oxide-sulfide boundary, as well as test the margins of the known mineralization," Barry Devlin, Fortitude Gold's Vice President of Exploration, said in a statement.
He added: "Multiple holes again returned sizable widths of oxide mineralization with grades as high as 3.19 grams per tonne gold. Scarlet remains a high priority target for additional delineation drilling. We plan to move a reverse circulation drill rig back to Scarlet early in the fourth quarter of 2021, once the current delineation drilling at Golden Mile is complete, to build on these positive Scarlet drill results."
The 2021 Phase II Scarlet drill highlights include: Hole #IPRC-301 which recorded 6.10m of 1.34 g/t gold including 3.05m of 1.68 g/t gold; Hole #IPRC-302 which recorded 19.81m of 1.57 g/t gold including 4.57m of 3.19 g/t gold; Hole #IPRC-254 which returned 19.81m of 1.56 g/t gold including 3.05m of 3.19 g/t gold; Hole #IPRC-257 which returned 16.76m of 2.23 g/t gold including 3.05m of 4.52 g/t gold and Hole #IPRC-262 which recorded 24.38m of 1.60 g/t gold including 3.05m of 3.94 g/t gold.
"We are excited with these continued high grade drill intercepts including 4.57 meters of 3.19 grams per tonne gold within a much wider interval of 19.81 meters, or 65 feet, grading 1.57 grams per tonne gold. This mirrors similar intercepts from the prior drill program which included 3.05 meters of 3.94 grams per tonne within the wider intercept of 24.38 meters, or 80 feet, of 1.60 g/t gold. In a world where many open pit mines chase an average 0.5 grams per tonne gold grade, these high-grade gold Scarlet drill results are very exciting,” said Jason Reid, CEO and President.
Reid went on to say: "While we expected to find the margins of this mineralization to the southeast, in the direction where we previously completed condemnation drilling for the heap leach pad expansion, this high-grade mineralization remains open to the northwest along trend. We recently announced the permit receipt to expand the Isabella Pearl heap leach pad. Included in this permit was an expansion of the Isabella Pearl mine plan boundary to the northwest, which opens up additional acreage associated with the Scarlet target for exploration within the permitted mine plan. Scarlet is just one of multiple gold targets associated with our 9,800-acre Isabella Pearl property covering over six miles of an important mineralized fault corridor in the Walker Lane Mineral Belt."
Fortitude Gold is a gold producer, developer, and explorer with operations in Nevada.
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