Fortitude Gold reports record preliminary 2Q production and increases yearly guidance

Fortitude Gold Corp (OTCQB:FTCO) has announced record preliminary second quarter production results up 26% quarter-over-quarter.

The Nevada-focused gold firm produced 14,579 gold ounces in the 2Q from its Isabella Pearl gold mine. The uptick also bolsters the company’s 2021 output outlook to the upper range of 45,000 gold ounces.

Fortitude credits the increase to the accessing of higher-grade portions of the Pearl zone.

READ: Fortitude Gold encouraged by drill results from lithocap target at East Camp Douglas, Nevada

While the high-grade areas were targeted, the miner also continued to mine the lower grade Isabella zone.

As a result of the strong grades and operational performance during the first half of 2021, Fortitude is increasing its 2021 production guidance by 12.5%.

The precious metals miner’s new production outlook range is 40,000-45,000 gold ounces, up from the original range of 36,000-40,000 gold ounces.

Earlier this month, the company released positive metallurgical test results from its Golden Mile property, with column leach testing performed during the test work recording up to 85% gold recovery. 

Also in Nevada, the Golden Mile property covers about 9,300 acres, consisting of 451 unpatented and five patented claims in the Bell Mining District.

With the positive results, the gold company is moving closer to a production decision and plan for Golden Mile. Once operational the project will help raise annual production numbers. 

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Story by ProactiveInvestors