Fortitude Gold is a junior gold producer with operations in Nevada, U.S.A, one of the world’s premier mining friendly jurisdictions. The Company is led by an industry experienced and proven management team who previously directed Gold Resource Corporation’s decade of production, over $1 billion in revenue generated, ten consecutive years of profitability and returned over $115 million in dividends to shareholders.
Fortitude Gold targets high-grade gold open pit heap leach operations averaging one gram per tonne gold or greater. Our flagship Isabella Pearl mine reached first gold production in April of 2019 just over 10 months from project groundbreaking. The deposit’s proven and probable gold grade average is estimated at 3.05 grams per tonne gold with the high-grade Pearl zone of the deposit estimated to average ~4 grams per tonne gold. At December 30, 2019, total mine life of the Isabella Pearl deposit was estimated at 4 ½ years at an average ~40,000 gold ounce per year production run rate, after the initial twelve month production ramp-up.
The Company’s property portfolio consists of 100% ownership of five high-grade gold properties. All five properties are within an approximate 30-mile radius of one another within the prolific Walker Lane Mineral Belt. Several properties are large district size land positions, and all are very prospective with high-grade surface and or near surface gold. The Company targets expanding known deposits, delineating known mineralized zones and discovering new deposits for gold production longevity. Our business strategy is to grow organically, remain debt-free and distribute substantial dividends.
Fortitude Gold’s 100% owned Nevada Mining unit was established in 2014. In 2020, Fortitude Gold was spun out of Gold Resource Corporation, an NYSE American listed company trading under the symbol “GORO”.