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Lode Gold Resources Inc. completes the second-year commitments on property options, advancing McIntyre Brook ownership. The company closed a shares-for-debt transaction, making payments totaling $209,000. Certain property optionors chose to receive payments in shares, showing support for the new management team. Wendy T. Chan, CEO of Lode Gold, highlights the anticipation for exploration efforts on the Appalachian Gold Trend.
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Lode Gold (Formerly Stratabound) has engaged Martin Stratte as an advisor for matters related to the Fremont Project in California. Stratte, a former director of the company, is an experienced land use and environmental permitting attorney with expertise in the mining sector. The company aims to leverage his knowledge to advance its ongoing activities at the Fremont Gold Project, located on the Mother Lode Belt. The project has significant potential to become a multi-million-ounce high-grade deposit, complementing existing resources.
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Lode Gold Resources Inc. has retained Carlos Saban, an experienced geologist, to review the Fremont Gold Project for potential high-grade underground gold mining. Since acquiring Fremont in 2021, Lode Gold has significantly increased its resource estimates. The Project currently hosts an 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. The after-tax NPV(5%) of USD $370MM and a 31% IRR over an 11-year LOM at a sensitivity to USD $2,000/oz gold. The project's depth potential remains largely untapped, with opportunities existing below 200 meters. The historical grade of 8 g/t Au and the presence of structurally controlled high-grade targets indicate significant upside potential.
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Lode Gold Resources Corp. (SBMIF) expands its ownership in McIntyre Brook Project by acquiring two more claims covering 13.96 km2. The company also makes second-year option payments on seven agreements, totaling $209,000, partly in cash and partly in shares.
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Lode Gold Resources Inc. (SBMIF) successfully closed a non-brokered private placement, raising $2,079,624.20 through the issuance of 83,184,968 units. The offering included common shares and warrants, with insiders subscribing for 44,516,100 common shares. The funds will be used for exploration activities in New Brunswick, Yukon, and California. The company's strategic turnaround plan has been well received, leading to a successful financing exceeding the initial target.
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Lode Gold Resources Corp. (SBMIF) receives an expression of interest for asset acquisition, emphasizing the potential value of its Yukon and New Brunswick properties. CEO Wendy T. Chan highlights the strategic plan to unlock shareholder value through asset separation and team development. VP Exploration Buddy Doyle mentions the market cap of $30 million for the properties, indicating the potential for value appreciation with upcoming drill plans and funding support.
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Lode Gold Minerals Corp. (SBMIF) successfully closes the first tranche of its non-brokered private placement, raising $1,422,902.50. Insiders subscribed for 44,516,100 common shares. The company receives an extension to complete the financing by March 15, 2024, with proceeds allocated to various exploration projects.
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Lode Gold Minerals Corp. (SBMIF) successfully closes the first tranche of its non-brokered financing, receiving full participation from board members and management, generating $1,432,652.50 in proceeds. The financing comprises 57,306,100 units at $0.025 per unit, each including a common share and a warrant. The company may accelerate warrant expiry if shares trade at $0.30 for 10 days. The financing is subject to TSXV final approval, with a statutory hold period of four months. Key executives express confidence in the new management team and the company's 2024 plans.
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Lode Gold Minerals Corp. (SBMIF) receives an extension to complete a non-brokered financing of up to $1.5 million, with the Board of Directors participating, subject to TSXV approval.
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Lode Gold Minerals Corp. (SBMIF) appoints Carlos Saban to its Technical Advisory Board to advance the Fremont Gold project in California. Saban's expertise in geological exploration and mineralization systems will help identify new targets at Fremont, with a focus on high-grade ounces. The company also granted a total of 8,333,364 incentive stock options to directors, management, an advisor, and a consultant, each entitling the holder to subscribe for one common share of Lode Gold for $0.05 for a period of 5 years.
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LODE GOLD RESOURCES INC.
OTC:SBMIF
SBMIF Rankings
SBMIF Stock Data
10.50M
105.57M
41.85%
25.64%
Crushed and Broken Limestone Mining and Quarrying
Mining, Quarrying, and Oil and Gas Extraction
United States of America
Toronto