Lincoln Gold Expands and Confirms Gold Mineralization and Deposit Geology at Pine Grove in Nevada
Suite 400 – 789 West Pender Street
Vancouver, BC, V6C 1H2
Tel : 604-688-7377
Web: www.lincolnmining.com
Lincoln Gold Expands and Confirms Gold Mineralization
and Deposit Geology at Pine Grove in Nevada
Vancouver, BC, March 3, 2025 - Lincoln Gold Mining Inc. (TSX.V:LMG) (“Lincoln Gold” or
the “Company”) is pleased to report the final logging and assay summary of the Wilson deposit
NQ drill program that was completed at the Pine Grove Gold Project (see news release dated
November 2, 2021). The program was designed to verify accuracy of previous drill results and
enhance the resource category, and to target potential expansion of known gold mineralization
within the Wilson Pit area.
Five NQ core holes were completed at the Wilson deposit. Three sites were selected to twin
previous recirculation core (“RC”) holes to compare geology and assay results. In addition, two
sites were selected as step out holes to test potential for further gold mineralization.
Assay samples were analyzed at Paragon Geochemical in Sparks, Nevada. Gold and silver
values reported by Paragon in ppm have been converted to Troy ounces per short ton, which
is the standard used by Lincoln at Pine Grove.
Results of Step Out NQ Core Hole Drilling:
Two NQ holes, WL-118NQ and WL-119NQ, successfully verified potential expansion of the
Wilson deposit. The depths of the mineralization and the gold values encountered fit well within
the blocks as predicted by the grade model. The gold mineralization occurs within the
granodiorite host near contacts with feldspar porphyry and dacite dikes, which is consistent
with the geologic model.
WL-118NQ Step Out Hole
Core hole approx..100 ft from Lincoln RC hole
WL-85 encountered three gold mineralization
intercepts
WL-119NQ Step Out Hole
Core hole approx..160 ft from Tech RC hole
WL-39 encountered four gold mineralization
intercepts
1.) 132.0-134.5’ (2.5’ @ 0.008)
2.) 175.0-195.0’ (20.0’ @ 0.009)
3.) 205.0-215.5’ (10.5.0’ @ 0.009)
1.) 96.4-100.5’ (4.1’ @ 0.024)
2.) 106.0-111.5’ (5.5’ @ 0.006)
3.) 182.5-187.5’ (5.0’ @ 0.014)
4.) 208.0-213.0’ (5.0’ @ 0.015)
Results of Twinned NQ Core Hole Drilling – Three NQ core holes were drilled and
demonstrated comparable assay and geological results to the prior RC drill holes which
encountered gold mineralization within the same mineralized zone as the twinned NQ core
holes and in some cases the NQ drilling encountered additional mineralization. The twinned
NQ core hole drilling confirms that the geologic model based nearly entirely on reverse
circulation drilling at the Wilson and is a good representation of the deposit geology. The results
of the comparisons show that coherent zones of mineralization are present in both RC and NQ
core hole drilled at the Wheeler and Wilson deposits.
WL-120NQ Twinning Results
Core hole & twin of Teck RC
hole WL-29 encountered five
gold mineralization intercepts
WL-121NQ Twinning Results
Core hole & twin of Lincoln RC
hole WL-102 encountered six
gold mineralization intercepts
WL-122NQTwinning Results
Core hole & twin of Teck RC hold
WL-40 encountered four gold
mineralization intercepts
1.) 135.0-140.0’ (5.0’ of 0.011)
2.) 145.5-149.0’ (3.5’ of 0.010)
3.) 155.0-160.5’ (5.5’ of 0.014)
4.) 188.0-194.5’ (6.5’ of 0.062)
5.) 202.5-209.0’ (6.5’ of 0.035)
1.) 35.5-40.0’ (4.5’ of 0.006)
2.) 84.0-89.0’ (5.0’ of 0.015)
3.) 94.0-103.5’ (9.5’ of 0.042)
4.) 108.5-119.0’ (10.5’ of 0.023)
123.0-130.0’ (mine workings)
5.) 130.0-136.0’ (6.0’ of 0.011)
6.) 148.2-159.5’ (11.3’ of 0.019)
1.) 30.0-38.0’ (8.0’ of 0.011 opt.)
2.) 110.0-112.0’ (2.0’ of 0.149 opt.)
3.) 119.0-122.5’ (3.5’ of 0.035 opt.)
4.) 159.0-166.5’ (7.5’ of 0.006 opt.)
QA/QC:
During November and December of 2021, five NQ core holes were drilled by KB Drilling of
Mound House, Nevada. At the end of each shift the contractor delivered the core boxes to the
supervisor project geologist at the secure Lincoln field office and sample storage warehouse
in Yerington, Nevada.
During August 2024 the core was photographed, logged, and cut at the Lincoln Resources
warehouse. The samples selected for analysis were split using a MK Diamond wet tile saw.
The QA/QC protocols included the insertion of Certified Reference Material as well as a coarse
blank material. Samples were analyzed at Paragon Geochemical in Sparks.
Full details of the drilling, assaying and lithology of the 2021/2024 will be posted on the
Company’s website www.lincolnmining.com.
Paul Saxton, President and CEO states: “The Company is pleased with the results of
this drill program as it enables us to plan for additional drilling with the intent of adding
to the Pine Grove Gold Project’s resource, even as we move to production at the Bell
Mountain Gold Project.”
Technical Disclosure:
Paul Saxton, P.Eng., President and CEO of the Company, is a Qualified Person as defined by
NI 43-101. Mr. Saxton has reviewed and approved the technical information in this news
release.
About Lincoln Gold Mining Inc.:
Lincoln is a Canadian precious metals exploration and development company headquartered
in Vancouver, BC with just over twenty-two million shares issued at this time. Both the Bell
Mountain and Pine Grove Gold Properties are within 61air miles of each other in the highly
prospective Walker Lane mineral belt, known for its numerous gold and silver deposits.
Lincoln is committed to maintaining steady and robust progress towards its goal of becoming
a mid-tier gold producer.
For further information, please contact:
Lincoln Gold Mining Inc.
Paul Saxton, President and Chief Executive Officer
Phone: 604-688-7377
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .
Cautionary Note Regarding Forward-Looking Statements:
This news release contains “forward-looking information” within the meaning of applicable Canadian securities
legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events
or developments that the Company expects or anticipates will or may occur in the future, including expectations regarding
the Company’s share price or any impact that marketing services may have on the business of the Company.
Generally, but not always, forward-looking information and statements can be identified by the use of words such as
“plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or
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or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connation
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that the Company will be able to increase investor awareness because of the engagement of marketing services.
Although the assumptions made by the Company in providing forward-looking information or making forward-looking
statements are considered reasonable by management at the time, there can be no assurance that such 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 plans or expectations include that
financing is still required, the impact will be different than as currently anticipated, risks relating to the actual results of
current development and or exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays,
exploration cost overruns, availability of capital and financing, general economic, market or business conditions,
regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time
in the filings made by the Company with securities regulators.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from
those contained in the forward-looking information or implied by forward-looking information, there may be other factors
that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking
information and statements will prove to be accurate, as actual results and future events could differ materially from those
anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements
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