Lion Rock Drilling Update for High-Grade Gold-Lithium Project at Volney, South Dakota
Rhea-AI Summary
Lion Rock Resources (OTCQB: LRRIF) reported progress from its inaugural Volney drill program in the Black Hills, South Dakota on December 2, 2025. The company completed ~2,400 m across 10 holes targeting gold and lithium near historic Giant Volney, Rusty and Rough & Ready mines. Following a $5.3M financing in Q3 2025, drilling intersected sulphide-bearing shear zones with quartz veining and multiple spodumene-bearing pegmatite intercepts (e.g., VOL25-009: 48.3–76.9 m and 103.5–120.3 m). Surface samples cited up to 14.0 g/t Au and up to 3.6% Li2O. Core is being logged and shipped for assay; results will be released as available.
Positive
- $5.3M financing closed in Q3 2025
- Completed 2,400 m across 10 drillholes
- Multiple drillholes intersected spodumene-bearing pegmatite
- Sulphide-bearing shear zones and quartz veining observed matching surface high-grade samples
Negative
- No assay results released yet; core assays are pending
- No defined mineral resource or drilling-grade intervals reported to date
Vancouver, British Columbia--(Newsfile Corp. - December 2, 2025) - Lion Rock Resources Inc. (TSXV: ROAR) (FSE: KGB) (OTCQB: LRRIF) (the "Company") is pleased to provide an update on its inaugural drill program at Volney in the historic Black Hills mining district of South Dakota, USA. Volney has historically produced high-grade gold, lithium, and tin.
Following the completion of a
News Highlights
- Mineralized and Altered Shear Zones Successfully Intersected: Drilling has encountered sulphide-bearing shear intervals with associated quartz veining and silicification hosted in altered rocks. Of note, drill core displays similar characteristics to mapping and surface sampling, where grab samples returned up to 14.0 g/t Au (see Lion Rock news release dated May 28, 2025).
- Spodumene-bearing Pegmatite Intersected: Spodumene has been identified in multiple pegmatite intercepts in the Giant Volney and Rough & Ready mine areas. Drillhole VOL25-009 intercepted two spodumene-bearing pegmatite zones from 48.3 to 76.9 m and from 103.5 to 120.3 m (Figure 2). Of note, these pegmatites occur near areas of previous surface sampling that returned up to
3.6% Li2O and are consistent with mapped pegmatite system in the Volney target area (see Lion Rock news release dated May 13, 2025).
- Ten Drillholes Completed - 2,400 m drilled: The Company has completed approximately 2,400 m across ten drillholes targeting both interpreted gold-bearing horizons and lithium-bearing pegmatites near the historic Giant Volney Mine, Rusty Mine, and Rough & Ready mine areas (Figure 1). Of the holes completed to date, six have targeted lithium-bearing pegmatites and four have targeted gold-bearing structures (Table 1). This represents the first modern drill testing along the Volney trend.
- Assays Pending: Core from the completed drillholes is currently being logged and sampled, and shipments to SGS in Denver have begun for analysis. Assay results will be reported as they become available.
Dale Ginn, President and CEO of Lion Rock, stated, "The Volney drill program is proceeding at a strong, steady pace and we are highly encouraged by the geological features observed to date in the drill core. While assays are pending, I can state that we have multiple holes intersecting sulphide mineralization, shearing, veining and strong alteration in the areas we projected, based on high-grade gold mineralization documented at surface.
"Likewise, all six drillholes targeting pegmatites have encountered spodumene-bearing zones, which have the potential to host high-grade lithium. Drilling is ongoing and we look forward to sharing a significant number of assays in the coming weeks."
Figure 1. Plan map showing completed drillholes as part of the ongoing drill program at the Volney Project, South Dakota.
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Figure 2. Cross section looking northwest of drillhole VOL25-009 showing projected spodumene pegmatite with surface mapping and sampling.
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Table 1. Drilling Completed to Date
| Hole Number | Target | Northing (m) | Easting (m) | Elevation (m) | Azimuth | Dip | Length (m) |
| VOL25-001 | Gold | 4914064 | 575579 | 1787 | 60 | -45 | 402 |
| VOL25-002 | Gold | 4914024 | 575714 | 1810 | 50 | -45 | 312 |
| VOL25-003 | Gold | 4914024 | 575715 | 1810 | 80 | -45 | 153 |
| VOL25-004 | Lithium | 4914142 | 575732 | 1818 | 60 | -50 | 141 |
| VOL25-005 | Lithium | 4914142 | 575732 | 1818 | 75 | -50 | 19 |
| VOL25-006 | Gold | 4914141 | 575728 | 1818 | 240 | -45 | 363 |
| VOL25-007 | Lithium | 4914107 | 575755 | 1819 | 60 | -45 | 240 |
| VOL25-008 | Lithium | 4914202 | 575714 | 1818 | 60 | -45 | 258 |
| VOL25-009 | Lithium | 4914295 | 575628 | 1828 | 30 | -45 | 270 |
| VOL25-010 | Lithium | 4914295 | 575628 | 1828 | 60 | -45 | 240 |
About the Volney Project
The Volney property is a multi-commodity project strategically located in South Dakota's Black Hills, a historically rich and active mining region (Figure 3). The Homestake Mine in the Black Hills produced more than 40 million ounces of gold, making it one of the most significant gold producers in North American history.1 The Volney Project is home to the Giant Volney pegmatite, a 635 m long LCT (Lithium-Cesium-Tantalum) pegmatite which remains untested at depth. The district continues to attract modern exploration efforts, with companies such as Dakota Gold Corp. actively advancing projects within the Black Hills. The project is accessible year-round and consists of private claims with surface and mineral rights, which facilitates rapid permitting and project advancement.
Figure 3. Volney Project regional map in the Black Hills, South Dakota.
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The technical content of this news release has been reviewed and approved by Carl Ginn, P.Geo., consultant to the Company and a Qualified Person pursuant to National Instrument 43-101.
About Lion Rock Resources Inc.
Lion Rock Resources Inc. is a Canadian mineral exploration company committed to advancing high-grade gold and lithium projects across North America. The Company's flagship asset, the Volney Project, is located in South Dakota's Black Hills, a mining-friendly jurisdiction surrounded by active gold operations. The Company is led by an award-winning team with a proven track record of mineral discoveries, project development, and financing.
On Behalf of the Board,
R. Dale Ginn, President & Chief Executive Officer
O: 604-678-5308
E: dale@rsdcapital.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Information
Certain statements contained in this news release may constitute "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", "potential", "indicative" and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Such forward-looking information is based on the current expectations of management of the Company. The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of risks and uncertainties, including without limitation risks and uncertainties inherent in the exploration and development of mineral properties, fluctuations in commodity prices, counterparty risk, market conditions, regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. In making the forward-looking statements in this press release, the Company has applied several material assumptions. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
1 James Norton, 1974, Gold in the Black Hills, South Dakota, and how new deposits might be found, USGS Publications Warehouse
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FAQ
How many metres did Lion Rock (LRRIF) drill at Volney as of December 2, 2025?
What notable mineral intersections did Lion Rock report from Volney drilling on December 2, 2025?
When will Lion Rock (LRRIF) publish assay results for the Volney drill program?
Does Lion Rock have funding to complete the Volney program after the December 2, 2025 update?
What historical surface grades are cited for the Volney project referenced by Lion Rock?
