Lode Gold Resources Inc. reports developments tied to North American gold exploration and development, including the Fremont Gold Mine Project in California, the Dingman Gold Project in Ontario, and exploration work in Yukon through Gold Orogen. Recurring updates cover drill permitting, geological modeling, field programs, target generation, and technical work on mineralized zones.
Company news also includes financing and capital-structure matters, such as construction-loan amendments, as well as governance and corporate-structure updates related to project ownership and subsidiary activity.
Lode Gold Resources Inc. (LODFF) has announced two significant developments: First, the company will implement VRIFY Technology's AI-assisted mineral discovery platform to enhance exploration activities at its Golden Culvert Project in Yukon. Second, the company has appointed Gary Wong as the new VP of Exploration, bringing over 30 years of mining exploration experience to advance assets in New Brunswick and Yukon.
Wong's extensive background includes work on notable projects like Seabee, Mt. Milligan, and Bulyanhulu, with experience across Canada, Europe, Latin America, and Africa. Additionally, the company has extended the closing date of its previously announced non-brokered private placement to May 31, 2025.
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF) has successfully closed the first tranche of its non-brokered private placement, raising $790,186 through the issuance of 4,389,922 Units at $0.18 per Unit. Each Unit includes one common share and one purchase warrant exercisable at $0.35 for three years.
The funds will support the company's 2025 business plan, including:
- Yukon operations: Field work, geological mapping, soil sampling, and channel sampling for drill target development
- California's Fremont project: Completion of 2025 Preliminary Economic Assessment (PEA) for bulk mining, underground channel sampling for resource upgrade, and advancement toward pre-feasibility study (PFS)
The company has extended the closing date to April 30, 2025, for the second tranche. An acceleration clause allows for early warrant expiry if shares trade at $0.65+ for 10 days.
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF) announced shareholders' approval for the tax-efficient spin-out of Gold Orogen through a plan of arrangement. The arrangement received over 66 2/3% approval from shareholders, optionholders, and warrantholders.
Upon completion, shareholders will receive one new Lode Gold share and 0.5739 Gold Orogen share for each Lode Gold share held. The transaction awaits final approvals from TSX Venture Exchange, Canadian Securities Exchange, and GRM shareholders.
Post spin-off structure:
- Gold Orogen: Pure exploration play with two assets - 99.5 km² Yukon property on Tombstone Belt and 445 km² New Brunswick property
- Lode Gold: Retains Fremont Gold project in California with 2025 MRE of 1.3 Moz gold at 4.4 g/t Au, featuring 23 km of underground workings and 43,000m of drilling
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF) announces key appointments to strengthen the board of its upcoming spin-out company, Gold Orogen. The company proposes to appoint Bill Fisher and Rajesh Sharma as new directors, subject to shareholder approval at the March 10, 2025 AGM.
Bill Fisher brings over 40 years of mining industry experience, notably leading Aurelian Resources to a $1.2 billion acquisition by Kinross Gold and GlobeStar Mining to a $186 million sale to Perilya. Rajesh Sharma contributes extensive leadership experience in mining, exploration, and metals sectors, including executive roles within the Tata Group.
The company also announces a shares-for-debt transaction to settle $231,180 of debt by issuing 963,251 shares at $0.24 per unit, subject to TSX Venture Exchange approval.
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF) has announced positive results from its 2025 Mineral Resource Estimation (MRE) at the Fremont Gold project in California. The new estimate shows 1.198 Moz at 3.97 g/t of Recoverable Gold at a 3 g/t cut-off with an average true width of 16.8m.
Key highlights include:
- Project spans 3,351 acres of privately owned land
- Only 8% (115,000 oz) of current MRE has been historically mined
- Half of mineralization is in veins, half in stockworks
- Upcoming $500,000 exploration program aims to convert 50% of Inferred resources to Measured and Indicated categories
- Underground bulk mining cost estimated at $63.6 per tonne
The company is transitioning from a combined open pit and underground mining scenario to a fully underground operation. The project could potentially create 200 jobs, with a Financial Investment Decision (FID) targeted for 2027.
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF) has announced exploration targets for its subsidiary Gold Orogen, which will be spun out as a separate public company in March 2025. The spin-out, pending Exchange and Shareholder approval, will be finalized at the Annual Shareholder Meeting on March 10, 2025.
Gold Orogen has established a joint venture called Acadian Gold with Fancamp, creating a 445 km² land package on the Iapetus Suture Belt in New Brunswick. Recent HeliTEM² survey and soil geochemistry work at McIntyre Brook revealed promising EM conductors near gold-in-soil anomalies. Notable findings include gold endowment in mineralized rhyolites and a historical drill intercept of 5.73 g/t Au within a 20m zone of 1.20 g/t Au.
The exploration revealed gold-in-soil anomalies associated with Arsenic, Antimony, and Tungsten, along with a 275 ppb Au stream sediment anomaly. These findings, combined with the structural setting between McIntyre Brook and Ramsay Brook faults, have designated the area as a high-priority target for Gold Orogen's 2025 exploration program.
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF) has partnered with Axiom Exploration Group to launch a targeted drilling program in Yukon. The initiative focuses on four RIRGS (Reduced Intrusion-Related Gold System) prospects: Border, Steelhead, Stingray, and Camp.
The Border prospect on the WIN property will be the primary focus, featuring RIRGS-style gold mineralization in sheeted quartz veins within hornfels. The program will be executed in two phases under the supervision of Buddy Doyle, VP of Exploration:
- Phase 1: Mapping and channel sampling at Border prospect, with expedited gold assays
- Phase 2: 1,400-meter drilling program with seven holes, scheduled for August 2025
The project covers 99.5 km² across 27 km of strike length in the southern Tombstone Gold Belt. Previous exploration drilling has tested less than 10% of the overall 20+ km strike potential identified through geochemical and geophysical datasets.
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF) has scheduled a shareholder meeting for March 10, 2025, at 10:00 AM MST to approve the tax-efficient spinout of Gold Orogen. The companies will trade separately 5-10 days after shareholder and TSX-V approval. A private placement is planned to close by March 10, offering units at $0.18 with warrants exercisable at $0.35.
Post spin-off, Gold Orogen will focus on exploration with two key assets: a 99.5 km² property in Yukon's Tombstone Belt with 4 Reduced Intrusive Targets, and a 445 km² package in New Brunswick. Lode Gold will retain the Fremont Gold project on the Mother Lode Belt, featuring 3,351 acres of private patented land with underground mine potential. The project has a 2023 MRE of 1 Moz (M&I) + 2 Moz (Inf) and a PEA showing after-tax NPV (5%) of USD $370M, 31% IRR, and 11-year mine life at $2,000/oz Au.
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF) has announced a non-brokered financing initiative to raise $1,000,000. The financing structure includes units priced at $0.18, with each unit comprising one common share and one purchase warrant. The warrants allow holders to purchase additional common shares at $0.35 each within a three-year period from closing.
The company intends to use the proceeds for strategic initiatives and business plan execution. The financing is expected to conclude by March 10, 2025, coinciding with the Annual General Meeting where shareholders will vote on the Plan of Arrangement. Notably, Lode Gold shareholders will receive shares in Gold Orogen while maintaining their existing Lode Gold holdings.