Lode Gold Executes Agreement with Axiom to Initiate Drill Targeting Plan Focused on RIRGS Targets at WIN and Golden Culvert in Yukon
Lode Gold Executes Agreement with Axiom to
Initiate Drill Targeting Plan Focused on RIRGS
Targets at WIN and Golden Culvert in Yukon
Toronto, Ontario--(Newsfile Corp. - February 27, 2025) -
Lode Gold Resources Inc. (TSXV: LOD)
(OTCQB: LODFF) ("Lode Gold " or the "Company")
is pleased to report it has engaged the
services of
Axiom Exploration Group Ltd. ("
Axiom
")
of Saskatoon, Saskatchewan. Axiom's primary role
will be to supply geological and field technical staff, along with equipment for our forthcoming field
program. This program will target four distinct RIRGS (Reduced Intrusion-Related Gold System)
prospects named Border, Steelhead, Stingray and Camp. Among these, the Border prospect on the
WIN property is the most developed, exhibiting RIRGS-style gold mineralization in sheeted quartz veins
hosted within hornfels, along with high bismuth to gold ratios. Our efforts will concentrate on this
prospect, aiming to identify drill targets at Border for drill testing in the later part of the season. The entire
operation will be overseen by Buddy Doyle, Gold Orogen's Vice President of Exploration, a seasoned
explorer with a 40-year career marked by numerous significant discoveries.
Axiom is well-positioned to execute this work effectively, leveraging its team of diverse geoscientists
with extensive experience gained across Canada and internationally. The company's professionals are
equipped with cutting-edge industry knowledge and tools, ensuring the provision of reliable and accurate
data. Additionally, Axiom's in-house field equipment and established relationships with suppliers offer
cost advantages through volume discounts, benefits that are typically unavailable to individual junior
companies.
Left: Golden Culvert and WIN: 99.5 km² area spanning 27 km of strike length in the southern
Tombstone Gold Belt. Four confirmed RIRGS targets highlight the district-scale potential of
this high-grade gold trend Right: Boundary Zone Discovery Site: Gold-bearing sheeted quartz
veins in hornfels-altered rock
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/242650_lodegoldimage.jpg
"We welcome the increased exploration investment and our ability to apply a systemic, technical
approach to our prospective Golden Culvert and WIN properties, in particular the added opportunities
provided by the recognition of RIRGS in addition to the known orogenic styles of mineralization in the
area," comments Jonathan Hill, Director and Head of the Technical Committee.
"Prior exploration drilling
has tested less than 10% of the overall >20km strike potential highlighted by our quality geochemical and
geophysical datasets. We expect that the current work in 2025 will identify some compelling potential
targets and progress them to initial drilling phases."
The program is being executed in two stages. The first stage takes place at the Border prospect, a high-
altitude site near an ice field that benefits from its close proximity to the all-weather Highway 10. The
crews will map the extent of the sheeted quartz veins and collect channel samples across the vein
system. Additionally, they will search for other vein swarms within the large hornfels roof pendant
delineated by the QMAG
T
survey conducted in 2024. To maximize planning time for the drill program,
samples will be expedited for gold assays to obtain rapid results. Concurrent work on other RIRGS
targets is also planned, particularly during periods when weather conditions restrict access to the Border
prospect.
Phase 2 is scheduled to commence in August 2025, featuring a 1400 m drill program consisting of
seven holes, designed to test the targets generated during Phase 1.
About Lode Gold
Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective
and safe mining jurisdictions in Canada and the United States.
In Canada, its Golden Culvert and WIN Projects in Yukon, covering 99.5 km
2
across a 27-km strike
length, are situated in a district-scale, high grade gold mineralized trend within the southern portion of the
Tombstone Gold Belt. A total of four RIRGS targets have been confirmed on the property. A NI 43-101
technical report has been completed in May 2024.
In New Brunswick, Lode Gold has created one of the largest land packages with its Acadian Gold JV
Co; consisting of an area that spans 445 km
2
and a 44 km strike. McIntyre Brook covers 111 km
2
and a
17-km strike in the emerging Appalachian/Iapetus Gold Belt; it is hosted by orogenic rocks of similar
age and structure as New Found Gold's Queensway Project. Riley Brook is a 335 km
2
package
covering a 26 km strike of Wapske formation with its numerous felsic units. A NI 43-101 technical report
has been completed in August 2024.
In the United States, the Company is advancing its Fremont Gold project. This is a brownfield project
with over 43,000 m drilled and 23 km of underground workings. It was previously mined at 10.7 g/t Au in
the 1930's.
Mining was halted in 1942 due the gold mining prohibition in World War Two (WWII) just as it was
ramping up production. Unlike typical brownfield projects that are mined out, only 8% of the veins have
been exploited. The Company is the first owner to investigate an underground high grade mine potential
at Fremont.
The project is located on 3,351 acres of private and patented land in Mariposa County. The asset is a 4
km strike on the prolific 190 km Mother Lode Gold Belt, California that produced over 50,000,000 oz of
gold and is instrumental in the creation of the towns, the businesses and infrastructure in the 1800s gold
rush. It is 1.5 hours from Fresno, California. The property has year-round road access and is close to
airports and rail.
Previously, in March 2023 the company completed an NI 43 101 Preliminary Economic Assessment
("PEA"). A sensitivity to the March 31, 2023 PEA at USD $2,000/oz gold gives an after-tax NPV of USD
$370M and a 31% IRR over an 11-year LOM. At $1,750 /oz gold, NPV (5%) is $217M. The project hosts
an NI 43-101 resource of 1.16 Moz at 1.90 g/t Au within 19.0 MT Indicated and 2.02 Moz at 2.22 g/t Au
within 28.3 MT Inferred. The MRE evaluates only 1.4 km of the 4 km strike of Fremont property. Three
step-out holes at depth (up to 1200 m) hit structure and were mineralized.
All NI 43-101 technical reports are available on the Company's profile on SEDAR+ (
www.sedarplus.ca
)
and the Company's website (
www.lode-gold.com
)
QUALIFIED PERSON STATEMENT
The scientific and technical information contained in this press release has been reviewed and approved
by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology - UCT), FAusIMM, and who is a
"qualified person" as defined by NI-43-101.
ON BEHALF OF THE COMPANY
Wendy T. Chan, CEO & Director
Information Contact
Winfield Ding
CFO
+1-416-915-4257
Kevin Shum
Investor Relations
+1 (647) 725-3888 ext. 702
Cautionary Note Related to this News Release and Figures
This news release contains information about adjacent properties on which the Company has no right to
explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative
of mineral deposits on the Company's properties.
Cautionary Statement Regarding Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
This news release includes "forward-looking statements" and "forward-looking information" within the
meaning of Canadian securities legislation. All statements included in this news release, other than
statements of historical fact, are forward-looking statements including, without limitation, statements
with respect to the completion of the transaction and the timing thereof, the expected benefits of the
transaction to shareholders of the Company, the structure, terms and conditions of the transaction and
the execution of a definitive agreement, the timing of submission to the CSE and TSXV, Gold Orogen
raising an additional $1,500,000 and the anticipated use of proceeds. Forward-looking statements
include predictions, projections and forecasts and are often, but not always, identified by the use of
words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and
"intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be
achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements are based on a number of assumptions and estimates that, while
considered reasonable by management based on the business and markets in which the Company
operates, are inherently subject to significant operational, economic, and competitive uncertainties,
risks and contingencies. These include assumptions regarding, among other things: that the
Company and GRM will be able to negotiate the definitive agreement on the terms and within the time
frame expected, that the Company and GRM will be able to make submissions to the CSE and TSXV
within the time frame expected, that the Company and GRM will be able to obtain shareholder
approval for the transaction, that the Company and GRM will be able to obtain necessary third party
and regulatory approvals required for the transaction, if completed, that the transaction will provide the
expected benefits to the Company and its shareholders.
There can be no assurance that forward-looking statements will prove to be accurate and actual
results, and future events could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from the Company's expectations include
adverse market conditions, general economic, market or business risks, unanticipated costs, the
failure of the Company and GRM to negotiate the definitive agreement on the terms and conditions
and within the timeframe expected, the failure of the Company and GRM to make submissions to the
CSE and TSXV within the timeframe expected,
the failure of the Company and GRM to obtain
shareholder approval for the transaction, the failure of the Company and GRM to obtain all necessary
approvals for the transaction, and r other risks detailed from time to time in the filings made by the
Company with securities regulators, including those described under the heading "Risks and
Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to
update or revise any forward-looking statements, except in accordance with applicable law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/242650