LODE Gold Resources (LOD:TSXV LODFF:US)
Lode Gold (TSX.V: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States. It recently announced a spinout: when you buy shares of Lode Gold, you will receive shares in the new co, Gold Orogen (Yukon and New Brunswick assets).
Gold Orogen (Spin Co):
Asset 1:
- Yukon, prolific Tombstone Belt (near Snowline, 3 Aces, Sitka and Onyx)
- 4 Confirmed Reduced Intrusive (RIRGS) – similar to Snowline
signature host rocks, hornfels throughout the property
- bismuth: gold ratio, sheeted quartz veins
Asset 2:
- New Brunswick –one of the largest land packages 420 square km
- Geological analogue to New Found Gold, Galway, Calibre Mining
- Confirmed gold endowment
Lode Gold (Parent):
- High Grade Underground Mine (previously mined at 8 g/t, 23 km of underground workings, over 43,000 m drilled)
- On Mother Lode Belt: 50,000,000 oz produced
- California: 700 permitted mines; 14 gold mines
- Target: 2 Moz underground 5 g/t Au
- Typical Orogenic Deposit with Structural Controls
Milestones:
- Added two key shareholders, totalling $6M raised in 2024
- Signed definitive RTO agreement to execute Spin Co
New Brunswick:
- 1600 soil sampling completed
- Completed heliborne MAG, EM and radiometric survey on 420 km2
Yukon:
- Completed SQUID on 99.5 km, 27 km strike
- Discovered 4 new RIRGS targets: Border, Steelhead, Stingray and Camp
Catalysts
- New Brunswick: Drilling upon systematic exploration: geophysics, soil sampling, mapping, geochemistry
- Yukon: Drilling follow up with new RIRGS targets: Border, Steelhead, Stingray and Camp
California:
- Revised NI 43-101 MRE (updating 2023 MRE 1 Moz (M&I) + 2 Moz (Inf) and investigating high grade underground potential)
- Evaluate “suspended” mining license due to gold prohibition in WW2 (1942)
- Drill to confirm high-grade underground potential, targeting 2 Moz 5 g/t Au resource