Royalty Overview

The Isabella Pearl royalty was acquired by Gold Royalty in August 2021, through the acquisition of Ely Gold Royalties. The 0.375% GRR covers roughly half the Isabella open pit, with the Isabella Pearl Extension 2.5% NSR royalty covering key targets such as the high-grade Scarlet zone, Civic Cat NW, Twin Hills, Copper Cliffs, Prospect Mt, Silica Knob, and Elvira, all found near the active pit, as well as targets further down the mineralized trend such as Corridor, Civic Cat, and Wildhorse.

Project Overview

The Isabella Pearl mine is a high-grade gold and silver producing open-pit heap leach mine located within the Walker Lane Mineral Belt in Nevada, USA. The mine is wholly owned and operated by Fortitude Gold Corp. ("Fortitude"). Fortitude first produced gold from the mine on April 2019, just over 10 months from initial ground-breaking on the project.

The project consists of four deposits: Isabella, Pearl, Civic Cat North, and Scarlet South all being accessed from a single openpit operation, with the Isabella and Pearl deposits being the most significant contributors for the total resource estimate. In March 2022, Fortitude announced that Isabella Pearl mine production was exceeding expectations due to higher than expected grade averaging 3.76 grams per tonne gold. Fortitude also outlined an increase in grade of the remaining mineral reserves at Isabella Pearl, which extended the life of mine to 2026 at a target rate of 40,000 gold ounces per year.

Fortitude has stated that the next steps for exploration at the Isabella Pearl mine will be testing targets along the mineralized trend and structural corridor such as Crimson, Scarlet South, and Silica Knob zones. Results will be used to update mineral resource estimates and associated mine plan to incorporate any new mineral reserves.