The 2,105-acre Dauntless land package has seen historic high-grade gold production from both open pit and underground workings with undeveloped drill intercepts, including 16 meters of 3.36 grams per metric ton (g/mt) gold. Fortitude Gold staked 129 additional unpatented claims around the property to strengthen the land position and exploration potential.

Fortitude purchased the Dauntless claim package from Nevada Select Royalty Inc. for $725,000. Nevada Select Royalty Inc retained a maximum net smelter return royalty (NSR) of 3% on future production from the property claims.

The property has surface and nearsurface high-grade gold, historic highgrade gold production, exploration potential, and it’s located within trucking distance of Fortitude’s Isabella Pearl gold processing facility. Historic mining records indicate during the mid-1980s a small portion of the claims were mined by the Sunshine Mining Co., who reported 60,000 ounces of gold mined at an average grade of 3.1 g/mt and a 1:1 strip ratio.

The company staked claims at the Intrepid property and issued a maximum NSR of 3% to an individual on future production. No cash payment was made to the claim holder.

“These two exciting acquisitions check all the boxes for us including the presence of high-grade surface and nearsurface gold, substantial exploration potential on both brownfield and greenfield exploration targets,” said Jason Reid, president and CEO, Fortitude Gold.

“Our near-term initial objective for the Dauntless includes drilling the mineralized structure to evaluate open pit expansion potential, as well as vector in on additional high-grade targets that have yet to be drilled,” Reid said.