Lode Gold is a Canadian exploration and development company with grassroots and advanced exploration properties in highly prospective and safe mining jurisdictions publicly traded on TSX Venture Exchange (Symbol: LOD) and US OTCQB (Symbol: SBMIF).
Its Golden Culvert and WIN Projects, Yukon, covering 99.5 km2 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 111 km2 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. Recent strategic investment by Fancamp announced August 30th, 2024 add Riley Brook Property (309 km2), both located in New Brunswick, into a 50/50 joint venture between Gold Orogen and Fancamp. As a result of this agreement, Fancamp will become a key shareholder of Lode Gold and a 19.9% shareholder of Gold Orogen.
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.
In April, 2023, Lode Gold released a technical report on the Preliminary Economic Assessment of the Fremont Gold Project (dated March 31, 2023 with effective date of February 15, 2023). Highlights of the PEA are as follows:
- After-tax net present value (“NPV”) (discount rate 5%) of US$370M, internal rate of return (“IRR”) of 31%, on sensitivity to Mar 2023 PEA at gold price of US$2,000/oz
- 11-year mine life producing 1,303,000 ounces of gold
- Average annual gold production of 118,000 ounces over life of mine (“LOM”), with a peak production of 157,000 ounces in the 4th year
- 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.
- Average cash cost of US$924/oz and all-in sustaining cost (“AISC”) of US$1,162/oz gold
- Initial Capital Expenditure of US$203M
- Annual process plant rate of 2.19 M tonnes at an average feed grade of 2.4 g/t Au and average overall gold recovery, including offsite processing, of 75.4%
Lode Gold’s new team consists of a seasoned group of mining executives, operators and financiers with extensive experience financing, developing and operating mining projects around the world. The management team and Board are well experienced veterans in all facets of mining and have a strong background of experience in small- through large-scale mining operations gained through increasing management responsibility over the course of their respective careers spanning entry-level through to senior executive-level positions in such companies as Anglo-Gold Ashanti, Rio Tinto, Kennecott , Barrick, Jaguar Mining, Trelawney Mining and Exploration, Sprott Mining, Skeena Resources, Roxgold to name a few.
We invite you to reach out to us and learn more about our exciting plans for 2024-2025.
Our investor relations team can be reached at:
Winfield Ding
CFO
info@lode-gold.com
+1 (416) 915-4157
Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (647) 725-3888 ext. 702
