Lode Gold (Formerly Stratabound) McIntyre Brook Property, New Brunswick: Confirms Gold Endowment Potential Within Its 17km Strike of the >20-Million-Ounce Appalachian Gold Corridor
Lode Gold (Formerly Stratabound) McIntyre
Brook Property, New Brunswick: Confirms
Gold Endowment Potential Within Its 17km
Strike of the >20-Million-Ounce Appalachian
Gold Corridor
HIGHLIGHTS
Lode Gold McIntyre Brook Property lies within the
"Appalachian Gold Corridor" (AGC)
which
contains
greater than 20M ounces of Au
and counting
The AGC contains deposits like New Found Gold's Queensway Project, Calibre's Valentine Lake
Project (under construction), St. Barbara's Touquoy Mine, Galway's Clarence Stream deposit and
OceanaGold's Haile Gold Mine
Lode Gold's
McIntrye Brook project occupies 17km strike
within the prospective Dunnage
Gander Terrane, and is located 80 km west of Bathurst, New Brunswick
This geology is shared with our neighbour
Puma Exploration
who have had highly encouraging
drill hole intercepts up to 50m @ 5.55 g/t Au at their Lynx deposit
, a rapidly advancing new
discovery, adjacent to our property
An information circular published by the Department of Natural Resources focused on the McIntyre
Brook, highlights
two highly prospective bands traversing the property
thought to be the
most prospective for gold; the bands are centered on the McIntyre Brook and Rocky Mill fault
systems
Previous historic work and drilling by Lode Gold in 2019 confirmed that these
zones are gold
mineralized and extend over several kilometres
Excellent infrastructure
with access to year-round road infrastructure including Highway 180,
ports, airports, mining facilities and a skilled workforce
Lode Gold to continue and enhance this work as it plans the upcoming exploration season, which
will culminate in drilling
Toronto, Ontario--(Newsfile Corp. - January 31, 2024) -
Lode Gold Resources Inc. (TSXV: LOD)
(OTCQB: SBMIF)
("Lode Gold" or the "Company" and formerly Stratabound Minerals) provides an
update on its McIntyre Gold project in the under-explored, world-class "Appalachian Gold Corridor"
("AGC").
The AGC contains over 20 M ounces of gold resources stretching along a band that parallels
the Iapetus Suture, a geological structure that represents the closure of the Iapetus Ocean in the Silurian
epoch (420 Ma).
This >4,000-km long structure that stretches from South Carolina, through New
Brunswick, Nova Scotia and Newfoundland, also continues across the Atlantic through Ireland, Scotland,
and Norway. Figure 1 and Table 1 list some of the more notable deposits along this trend. Common to
these deposits is the relative age, Ordovician-Silurian, and that they are structurally controlled, "Mostly
Orogenic type" deposits.
Figure 1.
Consistent orogenic mineralization along this emerging Appalachian Gold Corridor (Iapetus
Suture).
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/4064/196367_figure1.jpg
Table 1.
List of selected gold mines and deposits along the Appalachian Gold Corridor
Deposit name
Company
Geological
Characteristics
Exploration
Methods
Hanging wall/
Footwall
Mineral system
size in ounces
Pathfinders
Queensway
NF
New Found Gold
Multiple high-grade
veins within 1km of
major suture-like
structure
Basal Till, Seismic,
Magnetics
Pelites
Still to be
determined
>5M Oz
Au @ >5g/t
Sb, As
Valentine Lake
NF
Calibre Mining
Quartz tourmaline
pyrite veins
SW dip, en
echelon,
extensional,
connected by steep
shear veins
Magnetics,
Soil
Geochem
Conglomerate
Intrusive
Hosted in
Intrusive
>3M Oz
Au @ 2g/t
Te, B
Clarence Stream
NB
Galway Metals
Quartz veins hosted
in intrusions and
meta-seds, on major
fault
Soil Geochem
Intrusive host
>2M Oz
Au @ 2.8g/t
Sb, As, Bi
Curraghinalt*
NI
Dalradian Resources
3km north of major
Omagh Fault,
shear vein with
orthogonal dilation
veins quartz-
carbonate,
NE dip NW strike.
Drilling,
Soil sampling,
Geophysics
Volcanics,
Pelites
>3M Oz
Au @ >10g/t
Ag, Cu
Moose River
Touquoy
NS
St. Barbara
Stacked Anticlines
Geochem,
Drilling
Pelites, Greywacke
>3M Oz
Au @ 1.1g/t
Cu, Pb. Zn
Haile
SC
OceanaGold
549Ma older
mineralization,
anticline, meta-
epithermal
Historic
Greywacke,
Volcanics
>5M Oz
Au @ 2.1g/t
Ag, Mo
*Note: Curraghinalt is not located in the AGC, but formed along the Iapetus Suture
Mr. Buddy Doyle, VP Exploration, stated, "It is with great anticipation that I join Lode Gold and turn my
attention to the task of exploring the Company's excellent
portfolio of gold projects commencing with a
review of our McIntyre Brook property, New Brunswick. This news release will be the first of the series
where together with the reader, we build on the evidence that McIntyre Brook has a high probability of
entering the list of significant AGC gold deposits shown in Table 1; the outcome of this work will be a drill
program focused on discovery."
In this initial news release, we report on the work presented in the recently published information bulletin
by the New Brunswick Department of Natural Resources (Reference given below Figure 2).
The bulletin,
a collaboration between the Department, the University of New Brunswick and Lode Gold (formerly
Stratabound) through our consultant, Axiom. It presents a Mineral Predictive Map (MPM) covering the
eastern part of our McIntyre project (See Figure 2).
The MPM identifies specific zones that exhibit a higher potential for gold mineralization and is designed
to target exploration. Critical factors controlling gold mineralization include geological structures,
favorable host rock types, geochemical anomalies indicative of gold, and geophysical anomalies
suggesting mineralization and/or lithological contrasts that focus gold mineralization.
Lode Gold plans to continue this collaboration. A close-spaced airborne magnetic survey coupled with
soil sampling and mapping in the eastern part of the property not covered in the current MPM will be the
first step. Once these results are received, the MPM will be updated, and at that time, AI and machine
learning techniques will be brought into play.
Lode Gold acknowledges its neighbour, Puma Exploration, has also undertaken this collaboration and
are actively using the results in their exploration efforts, where they have met with exploration success.
Figure 2
. Blue outline is the Lode Gold McIntyre Brook gold property in New Brunswick. Background is
greyscale airborne magnetics from the Geological Survey of Canada. Regional faults and geological
boundary outlines are shown as traces. The yellow diamond symbols are the known gold showings and
deposits; orange diamonds are outside the McIntyre Brook property.
MPM study areas of high
prospectivity shown in reds, more intense colour equal higher probability. After: Mami Khalifani, F.,
Lentz, D.R., Walker, J.A. 2021. Structural analysis of gold mineralization in northern New Brunswick: a
preliminary analysis in aid of mineral potential mapping. In Abstracts 2021: Exploration, Mining and
Petroleum New Brunswick. Editor: E.A. Keith. New Brunswick Department of Natural Resources and
Energy Development, Geoscience Report 2021-1, p. 18.
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/4064/196367_fd9944ff5432f9d9_004full.jpg
Wendy T. Chan, CEO of Lode Gold, commented, "Reviewing and planning the McIntyre Brook project
and our Yukon gold projects will ensure a successful foundation for our new spinout company, "Gold
Orogen". This strategy is designed to unlock the intrinsic value of our three key assets in California,
Yukon and New Brunswick.
On a forward basis, we will be able to have singular focus on each of these
projects.
The California Fremont Gold project will remain in Lode Gold Resources. Gold Orogen will
have one or both of the Yukon and New Brunswick assets. These are exciting times for our shareholders,
and we highlight the current opportunity to participate in our financing which will give the participant
shares in both entities."
ABOUT LODE GOLD
Lode Gold Resources Inc. is a Canadian exploration and development company with grassroots and
advanced exploration properties in highly prospective and safe mining jurisdictions.
Its Golden Culvert and Win Projects, 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
. Gold deposits and occurrences within the Belt include Fort Knox, Pogo,
Brewery Creek and Dublin Gulch, and Snowline Gold's Valley target on its Rogue property in the Selwyn
Basin.
Its
McIntyre Brook Project, New Brunswick, covering 120 km
2
and a 17-km strike length in the
emerging Triple Fault Gold Belt
, is surrounded by Puma Exploration's Williams Brook Project (5.55
g/t Au over 50m) and is hosted by orogenic rocks of similar age and structure as New Found Gold's
Queensway Project.
The Company is also advancing its
Fremont Gold development project in the historic Mother Lode
Gold Belt of California where 50,000,000 oz of gold has been produced.
Fremont, located 500km
north of Equinox Gold's Castle Mountain and Mesquite mines, has a PEA with an after-tax NPV of USD
$217MM, a 21% IRR, 11-year LOM, averaging 118k ounces per annum at USD $1,750 gold. The project
hosts an NI 43-101 resource of 1.16 MMoz at 1.90 g/t Au within 19.0 MMt Indicated, and 2.02 MMoz at
2.22 g/t Au within 28.3 MMt Inferred.
The MRE evaluates only 1.4 km of the 4 km strike length of
the Fremont property that features 4 gold-mineralized zones.
Significantly, three step-out holes
at depth hit structure, typical of orogenic deposits that often occur at depth
.
Fremont is located
on private land
in Mariposa, the original gold rush county and is 1.5 hours from Fresno,
California
. The property has year-round road access and is close to airports and rail. Please refer to the
Fremont Gold project PEA dated Apr. 4, 2023 under NI 43-101 guidelines. The technical report has
been reviewed and approved by independent "Qualified Persons" Eugene Puritch, P.Eng., FEC, CET,
and Andrew Bradfield, P.Eng. both of P&E, and Travis Manning, P.E. of KCA.
The Company also holds a pipeline of early-stage exploration projects including the critical mineral
Captain Cobalt-Copper-Gold Deposit in New Brunswick and the Dingman Gold Project, Ontario.
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 National Instrument 43-101 - Standards of Disclosure for Mineral
Projects ("NI 43-101").
For more information, please visit the Company's website at
www.stratabound.com
or contact:
Gary Nassif
Senior Vice President, Director
+1 (416) 915-4157
Kevin Shum
Investor Relations
+1 (647) 725-3888 ext 702
Forward-Looking Statements
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.
WARNING:
The Company relies upon litigation protection for "forward-looking" statements. The
information in this release may contain forward-looking information under applicable securities laws.
This forward-looking information is subject to known and unknown risks, uncertainties and other factors
that may cause actual results to differ materially from those implied by the forward-looking information.
Factors that may cause actual results to vary materially include, but are not limited to, inaccurate
assumptions concerning the exploration for and development of mineral deposits, currency fluctuations,
unanticipated operational or technical difficulties, changes in laws or regulations, failure to obtain
regulatory, exchange or shareholder approval, the risks of obtaining necessary licenses and permits,
changes in general economic conditions or conditions in the financial markets and the inability to raise
additional financing. Readers are cautioned not to place undue reliance on this forward-looking
information. The Company does not assume the obligation to revise or update this forward-looking
information after the date of this release or to revise such information to reflect the occurrence of future
unanticipated events, except as may be required under applicable securities laws.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/196367