Lode Gold Completed Internal Scoping Study at Fremont, Mariposa; Initiates Process to Seek Joint Venture Partner
Lode Gold Completed Internal Scoping Study
at Fremont, Mariposa; Initiates Process to
Seek Joint Venture Partner
Toronto, Ontario--(Newsfile Corp. - September 29, 2025) -
Lode Gold Resources Inc (TSXV: LOD)
(OTCQB: LODFF) ("Lode Gold")
is pleased to report that it has completed Internal Scoping Study for
a pivot to evaluate a 100% underground bulk mining scenario at its Fremont gold project in California,
USA.
EAS Advisors in New York and Red Cloud Securities have been retained to seek a Joint Venture (JV)
partner for investment and to evaluate the potential for a gold pour (pilot plant/test mining) in early 2028
with a full ramp up by 2030.
The evaluation will take 36 months and the Final Investment Decision (FID) will be in 2028.
There are plans to optimize the Preliminary Economic Assessment (PEA) completed in 2023 and
possibly a scale up from 4,000 to 6,000 tonnes per day (tpd), pending rock mechanics analysis and
engineering studies. At 4,000 tpd, the PEA cited gold production of 136,000 Oz gold per year. The 2023
PEA was based 1 M oz Measured and Indicated (M&I) and 2 M oz Inferred.
Evaluation to be conducted include:
A mine plan that will only use 20% of the 3,351 acres of 100% owned patented land (surface +
mineral rights); thereby minimizing footprint and disturbance
No open pit, 100% underground with crushing to be done underground
Elimination of the use of cyanide. The oxides at surface (0-60m) will not be processed on site
Utilization of a portable mill, estimated to be 300-500 tpd initially for the Phase 1 - Pilot Plant/Test
Mining for the first 3 years
Rehabilitation of part of the 23km of underground workings for Phase 1 operations
Access to be from the hanging wall with metamorphic rocks, instead of the footwall with friable
sedimentary rocks
The Mineral Resource Estimate (MRE), updated recently, separated two mineralization domains (veins
and stockwork) in order to enable the evaluation to pivot the project to full underground mining. The PEA
is based on 2,000 tpd open pit (oxides + sulphides) and 4,000 tpd underground (sulphides). The
strategy pivot to 100% underground mining eliminated the use of CN, minimizing disturbance and
footprint and is based on the key findings in the
2025 MRE (filed April 2025)
Half of the gold is in the stockwork outside of the veins (completely unmined)
Average true width's taking into account both veins and stockwork: 53 m for 1 g/t cut-off and 17 m
for 3 g/t cut-off
Jonathan Hill, Director and Technical Committee Chair, "This internal scoping study underpins a strategy
to re-engineer and restart a past producing high grade gold mine at Fremont. This provides a
significantly important near - term production base supporting the United States government's stated aim
of supporting domestic gold production. "
About EAS Advisors LLC
EAS Advisors LLC is a private New York-based boutique corporate advisory firm specializing in Natural
Resources and Commodities. More information can be accessed here
https://easadvisors.com
About Red Cloud Securities
Red Cloud is a mining investment bank that has raised over C$3.9 billion for mining clients since
January 2020. Its business extends across Canada, U.S. and Europe, consisting of over 300 institutional
accounts, 1,500 retail brokers, 150 private equity groups and 250 strategic mining investors.
More
information about Red Cloud can be accessed here:
https://redcloudsecurities.com
About Lode Gold
Lode Gold 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 square kilometres across a 27-kilometre 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 National Instrument 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 square kilometres (about half the area of San Antonio, Texas)
and a 44-kilometre strike. McIntyre Brook covers 111 square kilometers and a 17-kilometre 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-square-kilometre package covering a 26-
kilometre strike of Wapske formation with its numerous felsic units. An NI 43-101 technical report has
been completed in August, 2024.
In the United States, the Company is focused on its advanced exploration and development asset, the
Fremont Mine in Mariposa, California. It has a recent
2025 NI 43-101 report and compliant MRE
that
can be accessed here
https://lode-gold.com/project/fremont-gold-usa
Fremont was previously mined during the Gold Rush until gold mining prohibition in WWII, when its
mining license was suspended. Only 8% of the resource identified in the 2025 MRE has been extracted.
This asset has exploration upside and is open at depth (three step-out holes at 1,300 m hit structure and
were mineralized) and on strike. This is a brownfield project with over 43,000 m drilled, 23 km of
underground workings and 14 adits. The project has excellent infrastructure and is close to electricity,
water, roads, railhead and port.
Recently, the Company completed an internal scoping study, with a strategic pivot to 100% underground
mining. Previously, in March 2023, the Company completed an NI 43-101 Preliminary Economic
Assessment ("PEA") with an open pit and underground combination mine. The 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
)
ON BEHALF OF THE COMPANY
Wendy T. Chan
CEO & Director
Information Contact:
Wendy T. Chan
CEO
+1-(604)-977-GOLD (4653)
Kevin Shum
Investor Relations
+1 (604) -977-GOLD (4653)
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 use of proceeds, advancement and completion of resource calculation, feasibility
studies, and exploration plans and targets. 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: the status of
community relations and the security situation on site; general business and economic conditions; the
availability of additional exploration and mineral project financing; the supply and demand for,
inventories of, and the level and volatility of the prices of metals; relationships with strategic partners;
the timing and receipt of governmental permits and approvals; the timing and receipt of community
and landowner approvals; changes in regulations; political factors; the accuracy of the Company's
interpretation of drill results; the geology, grade and continuity of the Company's mineral deposits; the
availability of equipment, skilled labour and services needed for the exploration and development of
mineral properties; and currency fluctuations.
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 a
deterioration of security on site or actions by the local community that inhibits access and/or the ability
to productively work on site, actual exploration results, interpretation of metallurgical characteristics of
the mineralization, changes in project parameters as plans continue to be refined, future metal prices,
availability of capital and financing on acceptable terms, general economic, market or business
conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals,
and
other exploration or other risks detailed herein and 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.
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