Lode Gold Files NI 43-101 Technical Report for Its McIntyre Brook Gold Project in New Brunswick in Preparation for Spin Out

Lode Gold Files NI 43-101 Technical Report for Its McIntyre Brook Gold Project in New Brunswick in Preparation for Spin Out

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold " or the "Company") is pleased to announce that it has filed a Technical Report for its McIntyre Brook Project, located in the emerging Appalachian Gold Belt in New Brunswick. This National Instrument 43-101 (NI 43-101) technical report is to be used for Spin Co (Gold Orogen) and will form part of the submission later this month to the Exchange for listing.

UPCOMING EXPLORATION PLANS

Upon closing of the Fancamp joint venture, subject to TSX Venture acceptance, we will commence exploration on our McIntyre and Riley Brook projects with extensive soil sampling on Riley and commissioning of a V-TEM, magnetometer, and radiometric survey on both properties later in the year. Soil sampling and trenching are planned on the McIntyre Brook property culminating in a drill program early in the new year.

FILES 43-101 ON MCINTYRE BROOK

The updated Technical Report for McIntyre Brook, entitled "McIntyre Brook Property, northwestern New Brunswick, Restigouche County" was, prepared in accordance with NI 43-101: Standards of Disclosure for Mineral Projects.

The report is available under the Company's profile on SEDAR+ and the Company's website (www.lode-gold.com). The McIntyre Brook Property, in conjunction with Fancamp's Riley Brook property, serves as the foundation for our Joint Venture with Fancamp, as announced in the August 26th News release. These properties, along with our Yukon properties, are integral to our proposed spin-off company, Gold Orogen.

The technical report outlines history and prior work on McIntyre Brook and recommends a Phase 1 program of helicopter VTEM survey and geophysical program on Northeastern part of property, systematic soil sampling, and with modern technology and data interpretation specifically for gold given new understanding with neighboring project results. A Phase 2 program proposed of 1,750m diamond drilling program following up targets generated from Phase 1.

ABOUT LODE GOLD

Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

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. A NI 43-101 technical report entitled "Technical Report on the WIN-Golden Culvert Property for Lode Gold" with an effective date of May 15, 2024 summarizing the work to date on these properties is available on the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.lode-gold.com).

In New Brunswick, Lode Gold is one of the largest land package owners with 420km total between McIntyre Brook and Riley Brook. Its McIntyre Brook Project, New Brunswick, covering 111 km2 and a 17-km strike length in the emerging Appalachian/Iapetus Gold Belt, is surrounded by Puma Exploration's Williams Brook Project (5.55 g/t Au over 50m)1 and is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project. The Fancamp's Riley Brook is a 309 km2 package covering a 25 km strike of Wapske formation with its numerous felsic units. Previous exploration efforts have focused on just VMS-style mineralization hosted in the felsic intrusions, and many focused on the base metals - the Company is the first to focus on and assay for gold.

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 Preliminary Economic Assessment(" PEA") with an after-tax NPV (5%) of USD $217M, a 21% IRR, 11-year LOM, averaging 118,000 Oz per annum at USD $1,750 gold. A sensitivity to the March 31, 2023 PEA at USD $2,000/oz gold gives an after-tax NPV (5%) of USD $370M and a 31% IRR over an 11-year LOM. The project 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 MRE evaluates only 1.4 km of the 4 km strike length of the Fremont property which features five gold-mineralized zones. Significantly, three step-out holes at depth hit the mineralized structure, typical of orogenic deposits that often occur at depth. Fremont is located on 3,351 acres of 100% owned 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. A planned V-TEM airborne geophysical survey to be flown over both properties.

Please refer to the Fremont Gold project NI 43-101 PEA technical report dated March 31, 2023, which is available on the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.lode-gold.com). The PEA 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.

QUALIFIED PERSON STATEMENT

The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology - UCT), FAusIMM, and who is a "qualified person" as defined by NI-43-101.

ON BEHALF OF THE COMPANY

Wendy T. Chan, CEO & Director

Information Contact

Winfield Ding
CFO
info@lode-gold.com
+1-416-320-4388

Kevin Shum
Investor Relations
kevin@jeminicapital.com
+1 (647) 725-3888 ext. 702

Cautionary Note Related to this News Release and Figures

This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.

Cautionary Statement Regarding Forward-Looking Information

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the use of proceeds, advancement and completion of resource calculation, feasibility studies, and exploration plans and targets. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: the status of community relations and the security situation on site; general business and economic conditions; the availability of additional exploration and mineral project financing; the supply and demand for, inventories of, and the level and volatility of the prices of metals; relationships with strategic partners; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company's interpretation of drill results; the geology, grade and continuity of the Company's mineral deposits; the availability of equipment, skilled labour and services needed for the exploration and development of mineral properties; currency fluctuations; and impact of the COVID-19 pandemic.

There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include a deterioration of security on site or actions by the local community that inhibits access and/or the ability to productively work on site, actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, unknown impact related to potential business disruptions stemming from the COVID-19 outbreak, or another infectious illness, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

___________________
1 See Puma Exploration Inc.'s news release dated September 15, 2021.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223051

News Provided by Newsfile via QuoteMedia

LOD:CC
The Conversation (0)
Lode Gold Identifies New High Priority RIRGS Target ''Steelhead'' at WIN, Tombstone Belt - Yukon

Lode Gold Identifies New High Priority RIRGS Target ''Steelhead'' at WIN, Tombstone Belt - Yukon

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold " or the "Company") is pleased to announce that it has received and interpreted the data from the previously announced QMAGT survey conducted in summer, 2024. This news release focuses on presenting initial findings, including reporting the identification of a new high-priority target named "Steelhead" extending the emerging Reduced Intrusion Related Gold System (RIRGS) targets already identified on its WIN property. A future news release will expand on these new findings northwards to include Lode's flagship Golden Culvert property as our geological team evaluates a potential genetic relationship, highlighted by the new QMAGT data between the RIRGS mineralization at WIN and the orogenic styles of mineralization present at Golden Culvert.

Highlights include:

  • Recent QMAGT system geophysical results integrated with geology and historic geochemical information has identified a new priority prospect, "Steelhead", a previously unrecognized 4km2 area of hornfels on the eastern part of the property.
  • ''Steelhead's" prospectivity is enhanced by the presence of anomalous gold and bismuth results in stream sediment samples collected from the catchment draining the new identified 4km2 area of hornfels.
  • The QMAGT system has successfully enhanced the detailed geology of the property and importantly mapped the targeted Tombstone-Tungsten Cretaceous aged monzonite intrusions as magnetic lows and related hornfels known to be prospective for RIRGS as magnetic highs or areas with "noisy magnetic gradients".
  • The above adds to the initial 2023 discovery of a RIRGS style sheeted vein system with gold values up to 8.3 g/t coincident with elevated bismuth and tellurium (see news release dated December 13, 2023) hosted in hornfels on the western side of the property and named the "Border Gold Zone".
  • The Border Gold Zone appears to be controlled by the Border Monzonite and manifests as a "roof zone" above this intrusive and the host Cordierite-Biotite bearing hornfels. The magnetic data clearly defines a 3.5km strike extension to this known mineralized hornfels zone for targeted follow up.
  • Furthermore, the magnetic data defines deep structures both parallel and coincident with the known mineralization and are thought to be important controlling structures for gold emplacement.

Buddy Doyle, VP Exploration commented that, "Lode Gold has leveraged the quality QMAGT data to integrate the pre-existing geochemical and geological-structural data on hand to design a targeted ground follow-up program to rapidly generate drill targets on the emerging high-potential RIRGS Targets at WIN, adding materially to its established flagship Orogenic Golden Culvert targets within the large, strategic property package controlled by Lode in the Yukon."

Regional Setting, The RIRGS Model and How Well the WIN Project Fits

The WIN property occurs in the southern portion of the prolific Tombstone gold belt, see Figure 1. The Tombstone Gold Belt is the type locality for RIRGS, with Figure 2 depicting the accepted model for this type of gold mineralization.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/4064/226527_f5046f6914111af4_004.jpg

Figure 1: The Tombstone Gold Belt, yellow shaded zone, gold stars show RIRGS deposits and prospects, orange stars tungsten deposits, The black star depicts the location of our WIN project. All are related to mid-cretaceous Intrusive suites and their associated contact hornfels aureoles. Figure modified from the Yukon geological survey broacher 2006-6.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/226527_f5046f6914111af4_004full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/4064/226527_figure2_550.jpg

Figure 2:The RIRGS geological model, General plan model of RIRGS (left), note the wide range of mineralization styles and geochemical variations that vary predictably outward from a central pluton. Scale is dependent on the size of the exposed pluton, which is likely to range from 100 m to 5 km in diameter. Hypothetical cross-section (right) of a small (100 m-5 km across) pluton. Of note are the asymmetric hornfels aureole and the early-chilled and more brittle marginal carapace. Preferred sites of intrusion-hosted Au mineralization are above the cupola, where exsolved fluids will accumulate, and mineralized fractures developed in the pluton's apex and shoulders. Modified from Hart, C.J.R., 2007.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/226527_figure2.jpg

The RIRGS geological model in summary makes the following empirical observations:

  • Mineralization is associated with a reduced intrusion with the mineralization extending beyond the limits of the intrusion, and locally beyond the thermal aureole (caused by the intrusion), yielding a broad mineralizing system (Fig. 2). The size of the system is generally dictated by the limits of the thermal aureole, commonly several kilometres across, but can be dependent on the depth of erosion with the broadest and best-developed mineralization at the top of or above the pluton. The WIN project contains the known mapped intrusives, the northern part of the Hyland intrusive and the eastern part of the Border Intrusive (see Figure 4) both have extensive hornfels aureoles developed. The known sheeted quartz vein mineralization is hosted in hornfels.
  • A common characteristic is that the RIRGS exhibits multiple styles of mineralization. Particularly in the thermal aureole. Chemically reactive and/or physically brittle sedimentary strata result in a diversity of mineralization styles, whereas the causative pluton is typically dominated by solely sheeted vein sets containing gold. The WIN project Hyland Intrusive has been subject to exploration for Tungsten and Molybdenum in the past with part of the Tuna Tungsten Mineral occurrence within and next to the property's southern border. The sheeted quartz veins with gold have been found in the roof hornfels.
  • RIRGS often exhibit a predictable zonation of differing deposit styles outward from the central, mineralizing pluton (Fig. 2). Skarns and replacements are generally pluton proximal, with an increase in structural control on more distal mineralization. There is also crustal scale vertical zonation, with epizonal occurrences forming at shallower levels. Predictable metal signatures develop broad-scale zoning surrounding and above a central causative pluton. The stream, soil and rock samples taken by Lode Gold show metal zonation.

  • Gold, as well as Tungsten (W), may form ore, but Au does not directly correlate with W. Bismuth (Bi) and Tellurium (Te) are enriched in intrusion-hosted Au ores and correlate with Au. Arsenic enrichments characterize hornfels-hosted mineralization and form regional-scale geochemical anomalies. On the WIN project, the sheeted veins have gold correlating strongly with Bi and Te. The WIN and Golden Culvert projects occur in a regional zone of anomalous Arsenic in stream sediments (see Figure 5).
  • Each plutonic suite has a characteristic metallogenic association. Plutons of the Tombstone plutonic suite have alkalic compositions (syenites) and associated gold, bismuth and copper. Plutons of the Mayo suite have metalluminous compositions (hornblende monzonites) and the strongest gold association. Plutons of the Tungsten suite are slightly peraluminous (biotite granite) and are associated with tungsten ± copper, zinc and molybdenum mineralization. Mineralized plutons typically have associated pegmatites, aplites, miarolitic cavities and tourmaline veins, which are all indicative of volatile saturation and development of hydrothermal phases. The WIN project covers part of the Hyland and Border intrusive, both are mapped as Hornblende monzonites, the type of intrusion that has the strongest gold association. Tourmaline veins and breccias have been noted in the Tuna mineral occurrences, within and south of the property.

Traditional exploration methods such as mapping, prospecting, and aeromagnetic, regional stream sediment and soil geochemical surveys are all effective. Since mineralization is typically focused in regions at the top of plutons, target areas should include locations where plutons are not exposed. These may be detected by aeromagnetic surveys that may respond to either pyrrhotite-rich hornfels, or low levels of magnetite in the case of the Tombstone suite alkalic intrusions. Summarized and modified from Hart, C.J.R., 2007.

District Geology

Cannot view this image? Visit: https://images.newsfilecorp.com/files/4064/226527_figure3.jpg

Figure 3: District Geology: Lode Gold's Golden Culvert and WIN projects depicted on the regional geology provided by the Yukon Geological Survey. Note the WIN Project is dominated by the Proterozoic Vampire formation intruded by Cretaceous monzonites. Mineral occurrences from the Yukon database are also shown. The WIN property contains the Hyland and Border Intrusive bodies, these bodies are depicted in the following figures for visual reference. They are the likely source of the mineralization.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/226527_figure3_enhanced.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/4064/226527_figure4_550.jpg

Figure 4:Regional Arsenic in stream sediment anomaly encompasses Lode Gold's Golden Culvert and WIN properties. A characteristic signature of RIRGS. After Hart, C.J.R. and Lewis, L.L., 2006

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/226527_figure4.jpg

Figure 1 shows the regional geological setting with a belt of intrusions (the Selwyn Magmatic province) intruding the Proterozoic-aged Selwyn sedimentary basin. Figure 3 illustrates the district geology with both the Golden Culvert property and the WIN property being hosted in the Vampire Formation, the WIN property covers portions of the Hyland and Border monzonite intrusives. Figure 4 demonstrates the projects that occur in a regional arsenic anomaly a common feature of sub-districts with RIRGS within the Tombstone gold belt. Known mineral occurrences are also shown in Figure 4, with the most advanced being the 3 Aces orogenic gold deposit, 15km to the SSW of the WIN project being explored by Seabridge Gold. Aben Minerals have also identified RIRGS style mineralization 18km to the SSW. The nearest historic mineral occurrence to the WIN project is the Tuna prospect, which consists of several zones of veins and breccias with Quartz, Bi, Tungsten, Molybdenum with tourmaline on the south boundary.

Rock Samples Confirmed RIRGS

On December 13, 2023, Lode Gold announced that it had confirmed a RIRGS style mineralization on its WIN property. Rocks samples returned gold values up to 8.53 g/t. with associated bismuth and tellurium at the border gold zone, shown in Figure 5. The mineralization is hosted in sheeted quartz veins, up to 10 veins per metre. The mineralization is hosted in hornfels. Figure 6 shows a photograph of the sheeted quartz veins and a view of the general topography at the border zone sampling area.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/4064/226527_f5046f6914111af4_009.jpg

Figure 5:Rock sampling sites on the WIN Property. Each dot is a separate sample site, dots are coloured and sized based on gold results, Legends are given in the inset. Colour intervals based on natural breaks. Base image is the 2m Digital Elevation Model (DEM). Blue zone are permanent ice sheets. Monzonite intrusions shown as transparent red stipple. The local geology map shown in figure 7 cover the area surrounded by yellow line.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/226527_f5046f6914111af4_009full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/4064/226527_f5046f6914111af4_010.jpg

Figure 6: Photograph of the sheeted vein system left, photograph of the topography in the border area, sheeted veins near photo origin looking SW towards the Hyland Intrusion. Photo on the right from Moynihan, D.P., 2013

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/226527_f5046f6914111af4_010full.jpg

Geology of the Border Gold-Bearing Sheeted Vein Area

Cannot view this image? Visit: https://images.newsfilecorp.com/files/4064/226527_f5046f6914111af4_011.jpg

Figure 7: Map of parts of the Hyland and Boundary plutons and their contact aureoles, showing mineral assemblages and isograds. Structural measurements are compiled on the equal area, lower hemisphere stereonet (inset). Grid lines spaced at 1 km intervals; UTM coordinates are NAD 83. Lode Gold rock sample results shown. Map is shown in Figure 5 and coincides with the inset box on that figure.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/226527_f5046f6914111af4_011full.jpg

The Yukon Geological Survey conducted mapping on the eastern side of the WIN project, see covering the Border Gold Zone, Moynihan, D.P., 2013. Their mapping has been reproduced in Figure 7 with our rock sample gold results overlain. The Hyland and Boundary plutons are hosted by the Latest Proterozoic-Early Cambrian Vampire Formation. The Vampire Formation is dominated by uniform, steel grey to dark grey phyllite that weathers to a rusty brown. The Vampire formation has been altered to hornfels along the contacts with the Hyland and Border monzonite intrusions.

The dominant foliation in the area (Sn) strikes NW/SE, parallel to the orogenic trend, it generally dips NE at 40-70° in the southwest part of the area and dips steeply towards the SW or NE in the northeast part of the area. The sheeted veins located by our field crew appear to be controlled by this Sn structural direction with a similar strike and dip.

Sn is locally overprinted by kink bands that have steeply dipping axial planes. These kink bands post-date development of the contact aureoles and are best developed in low-grade phyllites, which retain a well-defined cleavage. The Hyland pluton-Vampire Fm contact is offset by a number of steeply-dipping, SW-trending normal faults with downthrow to the NW. These faults are sub-parallel to axial planes of the kink bands, and have the same orientation as 1) a number of fine-grained, biotite and amphibole-bearing mafic dikes, and 2) an array of quartz- tourmaline veins that transect the Boundary aureole. Tourmaline is a common accessory mineral to RIRGS sheeted quartz veins and to our knowledge, the NE/SW trending quartz vein array is yet to be sampled.

The Hyland pluton, which was emplaced at 97.1±2.0 Ma (U-Pb monazite age), is elongated in a NW direction and underlies an area of approximately 9×2.5 km. The roof of the pluton is preserved around the topographically highest point near the centre of the intrusion. The southwest boundary of the pluton dips steeply, whereas its northeast and southeast boundaries have gentle to moderately steep outward dips. It is along this moderately dipping NE part of the pluton that our border gold zone is located. The pluton is a multi-phase, biotite quartz monzonite with a megacrystic internal phase and an equigranular outer phase. The contact aureole includes a phyllite outer part and a yellow-weathering, hornfelsic inner part. With increasing proximity to the Hyland pluton, the proportion of chlorite decreases to zero and cordierite, andalusite, and biotite crystals become larger and more abundant. This zonation is approximately 500m wide and parallels the outcropping boundary of the Hyland intrusion. The presence of andalusite suggest a deep emplacement level (circa 9-11 km) for the Hyland intrusion based on geobarometer calculations. Moynihan, D.P., 2013.

An extensive region of Crd+Bt hornfels is also developed in the area to the west of the Boundary pluton. It is notable that here Cordierite (Crd) is dominant and Andalusite is absent. This indicates a shallower emplacement level for the Border pluton which in turn suggests a younger age. The pattern of Crd+Bt hornfels suggests that the Boundary pluton extends underneath this region to the NW paralleling the border. It is here that our Border Zone gold bearing sheeted quartz veins occur. The suggestion is that the Boundary pluton was intruded at a slightly higher level than the Hyland pluton. The absence of andalusite from metapelite in the aureole of the Boundary pluton suggests it was intruded at

It is likely that the Border zone sheeted veins are genetically linked to the Border Pluton in the Cordierite-Biotite-Chlorite-Muscovite-Quartz hornfels that trend paralleling the border, with the higher-grade samples occurring on the edge of the higher temperature Cordierite-Biotite-Muscovite-Quartz hornfels where the Chlorite drops out.

Stream Sediment Sampling

Cannot view this image? Visit: https://images.newsfilecorp.com/files/4064/226527_figure8_550.jpg

Figure 8:Stream Sediment sampling sites on the WIN Property. Each dot is a separate sample site, dots are coloured and sized based on gold results, left image 8 (a), and by bismuth right image 8 (b). Legends given in insets. Colour intervals based on natural breaks. Base image is the 2m Digital Elevation Model (DEM). Blue zone are permanent ice sheets. Monzonite intrusions shown as transparent red stipple.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/226527_figure8.jpg

A series of closed space stream sediment samples were taken on the WIN project with the results depicted in Figure 8a for gold and for bismuth in Figure 8b. There are two strong gold anomalies (>45ppb) in separate streams, one stream eventually drains the Border gold zone, and the other highlights an area mainly hosted in the Hyland Intrusive and its contact aureole near its NE edge. This drainage also has high Bismuth and has never been investigated by soil or rock sampling. The area has been given the name of the Steelhead Prospect (using the naming theme started by the Tuna mineral occurrence.).

The entire Hyland Intrusive is elevated in Bi, As, Sb, W, Pb, Zn. Only Bi is shown. The stronger Bi stream sediment anomalies (>8.4ppm red, purple) need further follow-up due to their strong correlation with gold in the RIRGS model.

Soil Sampling

Cannot view this image? Visit: https://images.newsfilecorp.com/files/4064/226527_figure9_550.jpg

Figure 9: Soil Sampling sites on the WIN Property. Each dot is a separate sample site, dots are coloured and sized based on gold results. Legends given in inset. Colour intervals are natural breaks based on entire dataset which includes Golden Culvert, the number of samples in class in brackets. Base image is the 2m Digital Elevation Model (DEM). Blue zones are permanent ice sheets. Monzonite intrusions shown as transparent red stipple.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/226527_figure9.jpg

Soil sampling on the WIN property have in the past been restricted due to the mountainous topography and the glaciated surfaces that are either rock or transported moraine. A small grid over the border zone contains anomalous samples with a zone of >20ppb gold stretching 300m over 3 lines paralleling the border. The project would be amenable for further sampling.

QMAGT Survey

The RIRGS model makes the observation that aeromagnetic surveys are an effective exploration tool. The QMAGT survey conducted over the WIN property is a relatively new system which utilizes a Super-conducting Quantum interference device (SQUID) magnetometer which measures the full tensor response of the earth's magnetic field. The system is flown beneath the Helicopter in a Dewar filled within a liquid helium super cold bath. The WIN property was flown at a one-hundred-meter line spacing with lines trending NE-SW perpendicular to the geological trend. DIAS, the company that operates the QMAGT system, have provided the following products derived from this survey:

  • Bxx delineates E-W boundaries preferentially (symmetric for vertical magnetisation, antisymmetric for horizontal magnetisation)

  • Byy delineates N-S boundaries preferentially (symmetric for vertical magnetisation, antisymmetric for horizontal magnetisation)

  • Bxy delineates body corners preferentially (anomaly signs depend on magnetisation direction)

  • Bzz delineates steep boundaries preferentially (symmetric for vertical magnetisation, antisymmetric for horizontal magnetisation)

  • Bxz delineates E-W boundaries preferentially (antisymmetric for vertical magnetisation; symmetric for N-S horizontal magnetisation)

  • Byz delineates N-S boundaries preferentially (antisymmetric for vertical magnetisation; symmetric for E-W horizontal magnetisation)

  • I1 highlights deeper and/or large, smoother magnetic sources

  • I2 highlights shallow and/or small, complex magnetic sources

  • THC - Total Horizontal Curvature highlights areas of high curvature in the magnetic field that may be associated as being close to a strong source or a curving geometric feature

  • THG - Total Horizontal Gradient highlights areas of high gradient independent of direction and can be useful in edge detection.

  • Total field ( a cesium magnetometer was also flown along with the SQUID device to give this product)

This product suite was interrogated with the geochemical results discussed above and the known geology to form an interpretation map and future exploration guide.

QMAGT Interpretation

Interpretation of the QMAGT dataset has confirmed its utility in mapping geology and highlighting structure. Figure 10 shows the total magnetic field. The Hyland and Border intrusions stand out as magnetic lows (blue colours) with low gradients (smooth surfaces) as expected for reduced intrusions containing no magnetite. The hornfels zone between the two intrusives is highlighted in the magnetic response and textures. The chlorite out higher temperature hornfels that host the Border Gold zone, can be seen as a magnetic high parallel to the territorial border. The contact hornfels around the Hyland intrusion shows a more subdued magnetic response but have a distinct magnetic texture, some of which appears structurally controlled, with the same NE-SW trend of structures and quartz-tourmaline veins noted in the mapping. Also highlighted is a distinct zone of magnetic highs on the western boundary of the Hyland Monzonite, these require field investigations and a thought to be hornfels similar to those hosting the Border gold zone on the eastern boundary of the Border intrusive.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/4064/226527_f5046f6914111af4_015.jpg

Figure 10:Total Field magnetic response colour grid. Mapped extent of the Hyland and Border Monzonite shown in red stipple. The intrusions are expressed as magnetitic lows reflecting their reduced nature, and lack of magnetite. Strong, red magnetic responses interpreted to highlight hornfels (mapped as Cordierite-Biotite Hornfels), grey shaded area less magnetic zone of hornfels, but they exhibit a similar magnetic texture some with clear structural control.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/226527_f5046f6914111af4_015full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/4064/226527_f5046f6914111af4_016.jpg
Figure 11: Bzz vertical tensor component. Left image Figure 11a is gridded colour image of the Bzz, right image Figure 11b same image with structural interpretation overlain with black lines

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/226527_f5046f6914111af4_016full.jpg

Figure 11 depicts the vertical tensor of the magnetic field Bzz, this product and the other direction tensors were used to make a structural interpretation shown in Figure 11b. The generally SW-NW structure picked up in the Border Gold zone mapping appears to be property-wide. The geophysical product that picked up the NW-SE regional S0 structural fabric and the strike direction of the sheeted veins measured in the Border gold Zone was the LI map, said to be best for picking up deeper magnetic sources, shown below in Figure 12. It is probable that these are the structures controlling the sheeted veins and thus can be used to guide further exploration.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/4064/226527_f5046f6914111af4_017.jpg

Figure 12:
The LI product Greyscale coloured grid left Figure 12a and interpreted structures on the right Figure 12b. This geophysical product picks up the NW structural fabric that controls the known sheeted gold-bearing quartz veins.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4064/226527_f5046f6914111af4_017full.jpg

Future Plans

By combining our historic geochemical data, with geological mapping and the QMAGT products a clear exploration plan for the 2025 field season emerges. The highest priority is the Border Gold zone where we have already identified gold-bearing sheet quartz veins striking NW-SE. This mineralization is hosted in Cordierite-biotite hornfels that parallel the western boundary of the Border monzonite. The mapped outline of these hornfels coincides with a distinct magnetic high that the QMAGT survey demonstrates these rocks continue to the NW and SW past the area of government mapping and Lode Gold sampling. Further rock and soil samples along this trend are a high priority.

Gold mineralization also appears to be associated with the eastern boundary of the Hyland Monzonite, here stream sediment sampling shows anomalous gold and bismuth in streams draining the area. This zone has been named the Steelhead Prospect. Government mapping records SW-NE trending quartz-tourmaline veins in this area and relocating and sampling these and determining the source of the stream geochemical anomaly is a priority.

The QMAGT system mapped a previously unknown zone of hornfels on the western side of the Hyland Pluton, given the geochemical anomalous nature of the intrusion, high in Bi, W, As, Zn, Pb and Mo this western hornfels zone might host RIRGS, the area has not seen any historic exploration focus. Putting field teams out to map and sample this zone is also planned for 2025.

Director and Technical Committee Chair, Jonathan Hill comments, "We are pleased to see a strong confirmation of Reduced Intrusion Related Gold System (RIRGS) at WIN property. With the mapping and geophysical survey data from this work, we can delineate and generate high-potential drilling targets for 2025."

ABOUT LODE GOLD

Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

Our Golden Culvert and WIN Projects in the Yukon, cover 99.5 km2, are situated in the southern portion of the Tombstone Gold Belt. This 1500km long belt is dominated by RRIGS and sediment hosted Gold deposits, including Fort Knox, Brewery Creek, Keno Hill (Silver), Dublin Gulch, Hecla and Snowline's Gold's recent world class, Valley discovery. The company has intersected gold mineralization on the Golden Culvert property, with a best result of 33.1m @ 12.53 g/t from one of our drill holes and has identified a gold bearing sheeted vein system (RRIGS) on the WIN property.

In New Brunswick, within the emerging Appalachian/ Iapetus gold belt, Lode Gold has formed a strategic Joint Venture with Fancamp called Acadian Gold together we form one of the largest land packages in New Brunswick with 420km2 of exploration rights between McIntyre Brook and Riley Brook projects. Jointly focused on the Wapske Formation a geological unit identified to have the best gold potential in particular where there are structures bounding felsic units. With 36km strike of the Wapske formation under control Acadian is a key and leading member of this play.

Our 111 km2, McIntyre Brook Project, is surrounded by Puma Exploration's Williams Brook Project (where their Lynx project has reported 5.55 g/t Au over 50m)1 The first 2 drill holes completed by Lode Gold intersected (one hole intersected 5.73 g/t gold over 2.0 m within a broader low-grade interval averaging 1.20 g/t gold over 20 m), further drilling is warranted. Fancamp's 309 km2 Riley Brook project covers 25 km strike of Wapske formation containing numerous mapped felsic units. Previous exploration efforts were directed at VMS-style mineralization focused on the base metals often not assaying for gold. :– Acadian is the first to focus on gold.

NI 43-101 reports on our New Brunswick and Yukon projects are available on Sedar+ and on our website

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 Preliminary Economic Assessment(" PEA") with an after-tax NPV (5%) of USD $217M, a 21% IRR, 11-year LOM, averaging 118,000 Oz per annum at USD $1,750 gold. A sensitivity to the March 31, 2023 PEA at USD $2,000/oz gold gives an after-tax NPV (5%) of USD $370M and a 31% IRR over an 11-year LOM. The project 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 MRE evaluates only 1.4 km of the 4 km strike length of the Fremont property which features five gold-mineralized zones. Significantly, three step-out holes at depth hit the mineralized structure, typical of orogenic deposits that often occur at depth. Fremont is located on 3,351 acres of 100% owned 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. A planned V-TEM airborne geophysical survey to be flown over both properties.

Please refer to the Fremont Gold project NI 43-101 PEA technical report dated March 31, 2023, which is available on the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.lode-gold.com). The PEA 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.

QUALIFIED PERSON STATEMENT

The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology - UCT), FAusIMM, and who is a "qualified person" as defined by NI-43-101.

ON BEHALF OF THE COMPANY

Wendy T. Chan, CEO & Director

Information Contact

Winfield Ding
CFO
info@lode-gold.com
+1-416-320-4388

Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (647) 725-3888 ext. 702

REFERENCES CITED

Hart, C.J.R., 2007, Reduced intrusion-related gold systems, in Goodfellow, W.D., ed., Mineral deposits of Canada: A Synthesis of Major Deposit Types, Dis- trict Metallogeny, the Evolution of Geological Provinces, and Exploration Methods: Geological Association of Canada, Mineral Deposits Division, Special Publication No. 5, p. 95-112.

Moynihan, D.P., 2013. A preliminary assessment of low pressure, amphibolite-facies metamorphism in the upper Hyland River area (NTS 105H), southeast Yukon. In: Yukon Exploration and Geology 2012, K.E. MacFarlane, M.G. Nordling, and P.J. Sack (eds.), Yukon Geological Survey, p. 99-114.

Hart, C.J.R. and Lewis, L.L., 2006. Gold mineralization in the upper Hyland River area: A non- magmatic origin. In: Yukon Exploration and Geology 2005, D.S. Emond, G.D. Bradshaw, L.L. Lewis and L.H. Weston (eds.), Yukon Geological Survey, p. 109-125.

Cautionary Note Related to this News Release and Figures

This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.

Cautionary Statement Regarding Forward-Looking Information

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the use of proceeds, advancement and completion of resource calculation, feasibility studies, and exploration plans and targets. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: the status of community relations and the security situation on site; general business and economic conditions; the availability of additional exploration and mineral project financing; the supply and demand for, inventories of, and the level and volatility of the prices of metals; relationships with strategic partners; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company's interpretation of drill results; the geology, grade and continuity of the Company's mineral deposits; the availability of equipment, skilled labour and services needed for the exploration and development of mineral properties; currency fluctuations; and impact of the COVID-19 pandemic.

There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include a deterioration of security on site or actions by the local community that inhibits access and/or the ability to productively work on site, actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, unknown impact related to potential business disruptions stemming from the COVID-19 outbreak, or another infectious illness, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Lode Gold Closes $3.5 Million Financing and Strategic Alliance; Ready to Advance Properties in Yukon and New Brunswick

Lode Gold Closes $3.5 Million Financing and Strategic Alliance; Ready to Advance Properties in Yukon and New Brunswick

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold" or the "Company") is pleased to announce it has obtained conditional approval from the TSXV and closed the transaction with Fancamp Exploration Ltd. ("Fancamp") pursuant to the definitive Investment Agreement for $3.5 million investment that the Company announced in its August 27, 2024 news release. $500,000 goes into the Company for subscription of 14,285,714 Special Warrants of the Company, each Special Warrant, at $0.035 per unit, upon completion of the Spin Out, will convert to one common share of Lode Gold and one 5-year Lode Gold share purchase warrant with an exercise price of $0.05 per share. If fully exercised, the warrant subscription proceeds will total an additional $714,286; $3,000,000 goes into the Company's wholly-owned subsidiary Gold Orogen, for 5,423,078 common shares or 19.9% of Gold Orogen. As part of the Investment Agreement, the Company has transferred its interests in the McIntyre Brook Property (111 km2) and Fancamp transferred its interests in the Riley Brook Property (309 km2), both located in New Brunswick, into a 5050 joint venture between Gold Orogen and Fancamp, that is called Acadian Gold Corp. The Company has also transferred its interest in its Golden Culvert and WIN Property to Gold Orogen. Fancamp has become a key shareholder of Lode Gold and a 19.9% shareholder of Gold Orogen.

Details of the transaction were disclosed in the Company's August 27, 2024 news release.

The transaction remains subject to final acceptance of the TSX Venture Exchange. The proceeds from the Special Warrant financing will be used for general and administrative costs, including transaction costs, and on the Company's Fremont property. The Special Warrants and the securities acquired on conversion thereof are subject to a four-month hold period from the closing date under applicable Canadian securities laws.

A copy of the Investment Agreement is available on the Company's profile on SEDAR+ (www.sedarplus.ca).

About Lode Gold

Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

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. A NI 43-101 technical report entitled "Technical Report on the WIN-Golden Culvert Property for Lode Gold" with an effective date of May 15, 2024 summarizing the work to date on these properties is available on the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.lode-gold.com).

Its McIntyre Brook Project, New Brunswick, covering 111 km2 and a 17-km strike length in the emerging Appalachian/Iapetus Gold Belt, is surrounded by Puma Exploration's Williams Brook Project (5.55 g/t Au over 50m)1 and is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project.

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 Preliminary Economic Assessment(" PEA") with an after-tax NPV (5%) of USD $217M, a 21% IRR, 11-year LOM, averaging 118,000 Oz per annum at USD $1,750 gold. A sensitivity to the March 31, 2023 PEA at USD $2,000/oz gold gives an after-tax NPV (5%) of USD $370M and a 31% IRR over an 11-year LOM. The project 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 MRE evaluates only 1.4 km of the 4 km strike length of the Fremont property which features five gold-mineralized zones. Significantly, three step-out holes at depth hit the mineralized structure, typical of orogenic deposits that often occur at depth. Fremont is located on 3,351 acres of 100% owned 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 NI 43-101 PEA technical report dated March 31, 2023, which is available on the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.lode-gold.com). The PEA 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.

About Fancamp

Fancamp is a growing Canadian mineral exploration company focused on creating value through medium-term growth and monetization opportunities with its strategic interests in high-potential mineral projects, royalty portfolio and mineral properties. The company is focused on an advanced asset play poised for growth and selective monetization with a portfolio of mineral claims across Ontario, Quebec and New Brunswick, Canada, including copper, gold, zinc, titanium, chromium, strategic rare-earth metals and others. The company continues to identify near-term cash-flow-generating opportunities and in parallel aims to advance its investments in strategic mineral properties. Fancamp has investments in an existing iron ore operation in the Quebec-Labrador Trough, a rare earth elements company, NeoTerrex Minerals Inc., a copper-gold exploration company, Platinex Inc., in addition to an investment in a near term cash flow generating zinc mine, EDM Resources Inc. in Nova Scotia. The Company has future monetization opportunities from its Koper Lake transaction in the highly sought-after Ring of Fire in Northern Ontario. Fancamp is developing an energy reduction and titanium waste recycling technology with its advanced titanium extraction strategy. The company is managed by a focused leadership team with decades of mining, exploration and complementary technology experience.

QUALIFIED PERSON STATEMENT

The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology – UCT), FAusIMM, and who is a "qualified person" as defined by NI-43-101.

ON BEHALF OF THE COMPANY

Wendy T. Chan, CEO & Director

Information Contact

Winfield Ding
CFO
info@lode-gold.com
+1-416-320-4388

Kevin Shum
Investor Relations
kevin@jeminicapital.com
+1 (647) 725-3888 ext. 702

Cautionary Note Related to this News Release and Figures

This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.

Cautionary Statement Regarding Forward-Looking Information

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the anticipated use of proceeds from the Special Warrant financing, additional proceeds from the exercise of the warrants underlying the Special Warrants, and the receipt of final acceptance from the TSX Venture Exchange with respect to the transactions, are forward-looking statements. Although Lode Gold believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Lode Gold can give no assurance that such expectations will prove to be correct. These statements involve 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 statements, including the risks, uncertainties and other factors identified in Lode Gold's periodic filings with Canadian securities regulators, and assumptions made with regard to: the ability of Lode Gold to obtain final acceptance from the TSX Venture Exchange with respect to the transactions; that the Company will be able to use the proceeds of the Special Warrant financing as anticipated; and the ability of the Company to continue with its stated business objectives and its ability to obtain required approvals and raise additional capital to proceed. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from expectations include risks associated with the business of Lode Gold and Fancamp; risks related to the Company's ability to obtain final acceptance from the TSX Venture Exchange with respect to the transactions; the risk that the use of proceeds from the Special Warrant financing may differ from management's expectations; and other risk factors as detailed from time to time and additional risks identified in the Companies' filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Fancamp Announces Closing of the Transaction with Lode Gold Resources to Advance New Brunswick and Yukon Mineral Properties

Fancamp Announces Closing of the Transaction with Lode Gold Resources to Advance New Brunswick and Yukon Mineral Properties

Fancamp Exploration Ltd. (" Fancamp " or the " Company ") (TSX Venture Exchange: FNC ) is pleased to announce that it has closed the transaction with Lode Gold Resources Inc. (" Lode Gold ") (TSX Venture Exchange: LOD ) and 1475039 B.C. Ltd. (" Gold Orogen "), a subsidiary of Lode Gold, as previously announced on August 27, 2024, to advance the exploration and development of certain mineral properties located in the Yukon and New Brunswick (the " Transaction "). The Transaction represents the opportunity for the joint advancement of significantly sized and under-explored land packages, in highly prospective regions for gold and polymetallic mineral discovery, with the potential to create district scale projects on orogenic belts where other major developers are established and host certain world-class deposits.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Lode Gold Signs Letter of Intent to Execute Tax-Efficient Spin-Out, Creating Two Pure Play Companies

Lode Gold Signs Letter of Intent to Execute Tax-Efficient Spin-Out, Creating Two Pure Play Companies

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold " or the "Company") is pleased to announce its wholly-owned subsidiary, ("1475039 B.C. Ltd." or "Gold Orogen") has entered into a non-binding Letter of Intent (LOI) on September 23, 2024 to acquire Great Republic Mining ("GRM", "Great Republic" or GRM:CSE), pursuant to which the GRM and the Company's subsidiary propose to complete a Reverse Take Over (RTO) transaction pursuant to which GRM will acquire all of the issued and outstanding shares of the Company's subsidiary.

The Company plans to carry out a tax-efficient Spin-out transaction by way of a RTO of the currently CSE-listed GRM. Upon closing, the shareholders of Lode Gold (the target shareholders) will own up to 74.16% of the issued and outstanding shares of the company on a non-diluted basis, Fancamp Exploration Ltd. ("Fancamp") will own 19.9%, and existing GRM shareholders will own 5.94%. The resulting entity from the proposed RTO will continue the business as Gold Orogen. After the completion of the Spin-out, Lode Gold shareholders will receive shares in Gold Orogen.

"We are systematically executing our strategic plan as we had promised. This Spin-out will unlock value for shareholders, creating two pure play companies to attract new investors," comments Wendy T. Chan, CEO of Lode Gold.

Bill Fisher, CEO of Great Republic Mining, adds, "We are glad to partner with Lode Gold to acquire highly prospective exploration packages in Yukon and New Brunswick. Launching a new company, in this challenging market, that is already funded with $3 million to pursue exploration work - is a great step forward."

Proposed RTO and Plan of Arrangement

Pursuant to the terms of the Letter of Intent and the upcoming Definitive Agreement, the proposed RTO is expected to be completed by way of a court-approved plan of arrangement pursuant to the laws of British Columbia. The shareholders of Lode Gold and Gold Orogen will own directly the GRM shares exchanged from the transaction.

It is proposed that the Company will complete the Spin Out of Gold Orogen and each outstanding Gold Orogen share will be exchanged for GRM shares. In connection with the proposed RTO: (i) the resulting entity expects to change its name; (ii) the Company will hold a special meeting of shareholders to approve the transaction; (iii) GRM intends to seek the consent resolution approval; and (ii) GRM shares shall be consolidated so that 1,973,684 GRM post-consolidation shares shall be issued and outstanding prior to the closing of the proposed RTO, or about 5.94% of total issued and outstanding shares on the closing.

The Letter of Intent includes exclusivity provisions, pursuant to which the company and GRM have agreed to negotiate and deal exclusively with one another with respect to the proposed RTO.

Conditions of closing the proposed RTO

The terms of the transaction will be set out in a definitive agreement. The completion of the proposed RTO is subject to a number of conditions, which include, but are not limited to:

  • Receipt of all required shareholder, regulatory and other approvals, authorizations and consents for the proposed RTO as may be required;
  • 1,875,000 of founder and seed investors' GRM shares (pre-consolidation) are escrowed for 12 months following the close of transaction, with the right for equal quarterly releases of the shares;
  • No material adverse change in the business, results of operations, assets, liabilities, financial conditions or affairs of the parties subsequent to the date of the letter agreement;
  • No legal proceedings or regulatory actions against the company or GRM that would reasonably be expected to have a material adverse effect on the company or GRM, in the reasonable opinion of the other party, as applicable;
  • No inquiry, action, suit, proceeding or investigation commenced, announced or threatened by any securities regulatory authority or stock exchange in relation to the company or GRM;
  • There being no prohibition at law against the completion of the proposed RTO;
  • Compliance by the company and GRM with all representations, warranties, covenants, obligations and conditions of such party as set out in the definitive agreement to be negotiated between the parties;
  • GRM having a minimum of $250,000 cash at closing and no liabilities;
  • GRM terminating the Porcher Island property option agreement immediately prior to closing.

Timing

The transaction will be subject to necessary regulatory approvals, including acceptance of the TSX Venture Exchange ("TSXV") and Canadian Securities Exchange (the "CSE").

The anticipated timing of Definitive Agreement and submission to the CSE and TSXV will be within the next two weeks. Audited financial statements and updated NI 43-101's for the listing projects: Golden Culvert/WIN, McIntyre Brook and Riley Brook have been completed.

Gold Orogen plans to raise an additional $1.5 million to add to the Spin Co's current $3.0 million budget for Fiscal 2025, resulting in a total $4.5 million spend in the first 12 months. This ensures systematic exploration and drilling can be executed in Yukon and New Brunswick. Please reference the Company's Strategic Alliance in the August 30, 2024 news release.

The anticipated Spin-out will be in Q4 2024 when Spin Co Gold Orogen will be trading as a public entity. Shareholders of Lode Gold will receive shares of Gold Orogen at that time in a tax-efficient manner.

About Lode Gold

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.

Its Golden Culvert and WIN Projects in 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. A NI 43-101 technical report entitled "Technical Report on the WIN-Golden Culvert Property for Lode Gold" with an effective date of May 15, 2024, summarizing the work to date on these properties is available on the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.lode-gold.com).

In New Brunswick, Lode Gold has created one of the largest land packages with a 42km strike within 420km2. Its McIntyre Brook Project, New Brunswick, covering 111 km2 and a 17-km strike length in the emerging Appalachian/Iapetus Gold Belt, is surrounded by Puma Exploration's Williams Brook Project (5.55 g/t Au over 50m)1 and is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project. The Fancamp's Riley Brook is a 309 km2 package covering a 25 km strike of Wapske formation with its numerous felsic units. Previous exploration efforts have focused on just VMS-style mineralization hosted in the felsic intrusions, and mostly focused on the base metals - the Company is the first to focus on and assay for gold. This transaction will close upon Exchange's acceptance.

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 Preliminary Economic Assessment(" PEA") with an after-tax NPV (5%) of USD $217M, a 21% IRR, 11-year LOM, averaging 118,000 Oz per annum at USD $1,750 gold. A sensitivity to the March 31, 2023 PEA at USD $2,000/oz gold gives an after-tax NPV (5%) of USD $370M and a 31% IRR over an 11-year LOM. The project 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 MRE evaluates only 1.4 km of the 4 km strike length of the Fremont property which features five gold-mineralized zones. Significantly, three step-out holes at depth hit the mineralized structure, typical of orogenic deposits that often occur at depth. Fremont is located on 3,351 acres of 100% owned 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 NI 43-101 PEA technical report dated March 31, 2023, which is available on the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.lode-gold.com). The PEA 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.

QUALIFIED PERSON STATEMENT

The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology - UCT), FAusIMM, and who is a "qualified person" as defined by NI-43-101.

About Great Republic Mining Corp.

Great Republic is a Canadian exploration company engaged in the business of acquiring and exploring mineral resource properties - founded by a team with extensive geological, mining, and capital markets experience. Great Republic has an option to acquire a 100% interest in the Porcher Property, which is composed of nine contiguous mineral titles covering an area of 3,560.4 hectares in the northwest part of British Columbia, Canada, approximately 40 kilometers southwest of the city of Prince Rupert on Porcher Island.

ON BEHALF OF THE COMPANY

Wendy T. Chan, CEO & Director

Information Contact

Winfield Ding, CFO
info@lode-gold.com
+1-416-320-4388

Kevin Shum
Investor Relations
kevin@jeminicapital.com
+1 (647) 725-3888 ext. 702

Cautionary Note Related to this News Release and Figures

This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.

Cautionary Statement Regarding Forward-Looking Information

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the completion of the transaction and the timing thereof, the expected benefits of the transaction to shareholders of the Company, the structure, terms and conditions of the transaction and the execution of a definitive agreement, the timing of submission to the CSE and TSXV, Gold Orogen raising an additional $1,500,000 and the anticipated use of proceeds. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: that the Company and GRM will be able to negotiate the definitive agreement on the terms and within the time frame expected, that the Company and GRM will be able to make submissions to the CSE and TSXV within the time frame expected, that the Company and GRM will be able to obtain shareholder approval for the transaction, that the Company and GRM will be able to obtain necessary third party and regulatory approvals required for the transaction, if completed, that the transaction will provide the expected benefits to the Company and its shareholders.

There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include adverse market conditions, general economic, market or business risks, unanticipated costs, the failure of the Company and GRM to negotiate the definitive agreement on the terms and conditions and within the timeframe expected, the failure of the Company and GRM to make submissions to the CSE and TSXV within the timeframe expected, the failure of the Company and GRM to obtain shareholder approval for the transaction, the failure of the Company and GRM to obtain all necessary approvals for the transaction, and r other risks detailed from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Canadian Investment Regulatory Organization Trade Resumption - LOD

Canadian Investment Regulatory Organization Trade Resumption - LOD

Trading resumes in:

Company: Lode Gold Resources Inc.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
RUA GOLD's Drill Program Intersects near Surface Gold at the Reefton Project

RUA GOLD's Drill Program Intersects near Surface Gold at the Reefton Project

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) ("Rua Gold" or the "Company") is pleased to provide an update from the drilling campaign underway at the Reefton Project on the South Island of New Zealand.

The Company commenced its near mine drill program on the Murray Creek targets in July. A second drill rig was introduced in September to test the Capleston vein system. These historic mines collectively produced ~700koz of gold at 25.2g/t within a radius of ~20 kilometers.

Robert Eckford, CEO of Rua Gold commented: "Our five years of meticulous surface exploration work over the Reefton project is paying dividends from the outset of this drill program. Both of the initial drill holes have confirmed we are in right area and are locating these lodes. The near surface intercepts on Capleston are encouraging and makes for compelling economic ounces, it supports our thesis that the surface veins are continuous past the old workings. Despite the initial drill hole at Murray Creek hitting old workings, it is extremely encouraging that we have identified the dip angle of the Victoria lode and we have even more confidence with the subsequent hole that is underway now, and results from this will be ready in the next few weeks."

Capleston

On the second drill rig, which was introduced to test the Capleston vein system, the Company targeted an undeveloped and near-surface vein at the southern end of the two kilometer long historic Capleston project, the highest-grade producer of the Reefton Goldfield historically. Near surface targets lend themselves to early development and are the closest to transportation and infrastructure, providing low-cost operational advantages.

The first diamond drill hole, DD_REF_043, intersected a 12m zone of quartz-pyrite-arsenopyrite in the hanging wall, with a 1m quartz vein from 31m to 32m @ 3.86 g.t Au.

A legacy drill hole intercepted the southern lode at 33m downhole, with 1m @ 24g/t Au followed by 1m @ 2.5g/t Au1. Mapping has recorded historical waste samples up to 32.0g/t Au in the vicinity1, and a strong soil anomaly enveloping the vein (up to 410ppb Au).

Cannot view this image? Visit: https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_007.jpg

Figure 1: Capleston Section DD_REF_043, drill intersection and core highlighted

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_007full.jpg

Murray Creek

Rua Gold reports the completion of the first hole testing the down-dip extension of the Victoria lode, DD_VIC_041, which is being evaluated by the team. This intersected the targeted reef at 344m down hole and encountered historical underground workings over a 4m length. It then exited out to the footwall before drilling on for an additional 20m.

This confirms that the lode extension is accurate and, with the precise location confirmed, a second hole is underway that is 50m deeper down dip from the initial drill hole. The Company anticipates an intersection into an un-mined portion of the reef at around 350m. Results from this testing will be available in the coming weeks.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_008.jpg

Figure 2: Cross section through the first Murray Creek drill target, Victoria

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_008full.jpg

Background

Capleston Group historical production 134,927 oz @ 49.1 g/t Au (Barry, 1993). The Capleston Group represents a 2km long vein system with a series of north-plunging shoots dipping steeply to the east. Welcome-Hopeful was the major producer (88,620 oz @ 61.4 g/t Au recovered; Barry, 1993; Figure 3). Fiery Cross was singular for its exceptionally high antimony (Figure 4).

A table of historic production in this district is included in Table 2.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_009.jpg

Figure 3: Historical schematic of Capleston Lodes (section 90.313) c.1920, annotated to accentuate the lodes and Reform drill site.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_009full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_010.jpg

Figure 4: Fiery Cross Battery, Capleston 1930. Image from Reefton Isite.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_010full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_011.jpg

Figure 5: Location of Reefton Projects

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_011full.jpg

About Rua Gold

Rua Gold is an exploration company, strategically focused on New Zealand. With decades of expertise, our team has successfully taken major discoveries into producing world-class mines across multiple continents. The team is now focused on maximizing the asset potential of RUA's two highly prospective high-grade gold projects.

The Company controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand's South Island. Rua Gold will have approximately 120,000 hectares of tenements, following the completion of its previously announced acquisition of Reefton Resources Pty Limited2, in a district that historically produced over 2 million ounces of gold grading between 9 and 50 grams per tonne.

The Company's Glamorgan Project solidifies Rua Gold's position as a leading high-grade gold explorer on New Zealand's North Island. This highly prospective project is located within the North Islands' Hauraki district, a region that has produced an impressive 15 million ounces of gold and 60 million ounces of silver. Glamorgan is within 3 kms of OceanaGold Corporation's biggest gold mining project, WKP.

For further information, please refer to the Company's disclosure record on SEDAR+ at www.sedarplus.ca.

New Investor Relations agreement - Gold Standard Media, LLC

On October 11, 2024, the Company entered into an advertising agreement with Gold Standard Media LLC ("Gold Standard") for total cash consideration of US$200,000, payable immediately. Gold Standard has agreed to provide the Company with its services to create landing pages and provide digital marketing, email marketing and influencer marketing services. Gold Standard will provide its services for a period of 90 days commencing on October 14, 2024. Gold Standard and its principals are arm's length from the Company. To the best of the Company's knowledge and as of the date hereof, certain affiliates of Gold Standard own 5,037,951 common shares in the capital of the Company. Gold Standard is a Texas-based firm and is owned by Kenneth Ameduri, Juliet Ameduri, and Lior Gantz. The Company will not issue any securities to Gold Standard as compensation for its marketing services.

Technical Information

Simon Henderson CP, AUSIMM, a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure contained herein.

QAQC Drilling

The majority of drillholes were sampled in full, typically following 1-m sample intervals unless geological contacts (i.e. dolerite intrusions) dictated otherwise. NQ core was analyzed as whole core; therefore, only requiring cutting along sample intervals. PQ and HQ core were sampled as half core.

Drill core samples were sent to SGS Westport for sample preparation. Core was crushed to 75% passing 2 mm, and 1-kg split of material was pulverized (to 85% passing 75 µm). No split duplicates were collected during the crushing steps. Two scoops were taken from the pulverize bowl: one for laboratory analysis (~150 g) and the other for pXRF analysis (~100 g). The pulp reject is stored in Reefton.

Rua Gold Contact

Robert Eckford

Chief Executive Officer

Tel: +1 604 655 7354

Email: reckford@RUAGOLD.com

Website: www.RUAGOLD.com

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and specifically include statements regarding: the Company's strategies, expectations, planned operations or future actions, including but not limited to exploration programs at its Reefton project and the results thereof; and the Company's acquisition of Reefton Resources Pty Limited. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.

Investors are cautioned that any such forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. A variety of inherent risks, uncertainties and factors, many of which are beyond the Company's control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include: general business, economic, competitive, political and social uncertainties; risks related to the effects of the Russia-Ukraine war; risks related to climate change; operational risks in exploration, delays or changes in plans with respect to exploration projects or capital expenditures; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; changes in labour costs and other costs and expenses or equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, including but not limited to environmental hazards, flooding or unfavourable operating conditions and losses, insurrection or war, delays in obtaining governmental approvals or financing, and commodity prices. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's CSE Form 2A - Listing Statement filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors.

Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Table 2: Historical production from mines within the Capleston Project (Barry, 1993).

LodeEastingNorthingQuartz
tonnes
Au
(kg)
Total
Production
(Au oz)
Recovered
grade
 
(oz)
Recovered
grade
(g/t)
Welcome-Hopeful1512383534226144,868.92,756.488,620.32.061.4
Fiery Cross1512133534169124,956.4869.527,955.11.134.8
Just in Time1511983534120213,754.9534.117,171.71.238.8
Reform-Imperial-South Hopeful151180353415431,698.933.31,070.60.619.6
Lone Star15118335340402243.83.4109.30.413.9

 

Source: Barry, J.M., 1993. The History and Mineral Resources of the Reefton Goldfield. Ministry of Commerce Resource Information Report No. 15.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Dynasty Gold Announces 2024 Annual General Meeting Results and Provides Thundercloud Drilling Update

Dynasty Gold Announces 2024 Annual General Meeting Results and Provides Thundercloud Drilling Update

Dynasty Gold Corp. (TSXV: DYG) (FSE: D5G1) (OTC Pink: DGDCF) ("Dynasty" or the "Company") is pleased to report the results from its 2024 annual general meeting held on Friday, Oct. 4, 2024. Total vote counts represent more than 42% of total issued and outstanding shares. All resolutions put forward to the shareholders were approved. The following directors were elected to hold office until the next annual general meeting of the Company:

Ivy Chong99.98%
Roman Shklanka99.98%
Larry Kornze98.93%
Richard Redfern98.92%

Dynasty would like to thank its shareholders for their votes and attendance at the meeting.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Element79 Gold Corp. Reports Significant Progress in Community Relations and Development Efforts in Chachas, Peru

Element79 Gold Corp. Reports Significant Progress in Community Relations and Development Efforts in Chachas, Peru

(TheNewswire)

Element79 Gold Corp.

October 9, 2024 TheNewswire - Vancouver, B.C. Element79 Gold Corp. (CSE: ELEM) (FSE: 7YS0) (OTC: ELMGF) ("Element79" or the "Company") is pleased to announce significant progress in its ongoing community engagement efforts with the community of Chachas, Peru, near the Company's Lucero Project. These efforts are part of the Company's broader strategy to align mining operations with sustainable community development and long-term value creation.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Rio Silver Completes Sale of Palta Dorada Ag-Au Property, Peru

Rio Silver Completes Sale of Palta Dorada Ag-Au Property, Peru

Rio Silver Inc. (TSXV:RYO) ("Rio Silver" or the "Company") is pleased to announce that the Company has received the balance of the $250,000 US cash required for the sale of its 50% interest in the Palta Dorada Au-Ag Property, from Peruvian Metals Corp. ("Peruvian"). Additional consideration for the sale has the Company retaining a 3% Net Smelter Royalty ("NSR" or "Royalty") on the property. Total payments from the NSR will be capped at $2 million US while the Company is guaranteed US $250,000 in minimum royalty payments over the next five years.

The royalty payments due have guaranteed minimum semi-annual payments of $25,000 US payable over a five year period, commencing December 2024. Cash flow generated from the Palta Dorada Royalty could potentially exceed the minimum semi-annual royalty payment amount, as Peruvian advances a bulk sampling campaign at Palta Dorada, expected to commence Q1 2025 and augmented by its proximity to Peruvian Metals' Aguila Norte Processing Plant.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Freegold Intersects 3.06 g/t Au over 42 Metres at Golden Summit and 1.36 g/t Au over 115.2 metres

Freegold Intersects 3.06 g/t Au over 42 Metres at Golden Summit and 1.36 g/t Au over 115.2 metres

FVL:TSX  OTCQX: FGOVF

GS2406 & GS2407: - higher grade closer to surface

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Horizon Minerals Limited  Phillips Find Approved, Mobilisation Underway

Horizon Minerals Limited Phillips Find Approved, Mobilisation Underway

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) is pleased to provide an update on the development of the Phillips Find Gold Project ("Phillips Find").

HIGHLIGHTS

- Joint Venture (JV) Agreement in place with mining specialists BML Ventures Pty Limited (BML) to develop and mine two open pits at Phillips Find

- All management, technical, operational and maintenance roles to be undertaken by BML with oversight by the Company

- Low financial risk JV structure with BML to fund all project costs, with net cashflow after the asset recovery and repayment of costs to be split 50/50 between Horizon and BML

- Mining Proposal to develop Phillips Find has been approved by the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS)

- Site clearing works underway and offices and workshop being established

- 200 tonne excavator and two blast hole rigs have been mobilised to site, with haul trucks arriving this week

- Mining to commence in the coming weeks

- Existing 200kt Toll Milling Agreement executed with FMR Investments Pty Ltd (FMR) in May 2024 to be utilised for Phillips Find JV ore

- First ore from Phillips Find on track to be treated at FMR's Greenfields mill from February 2025 to June 2025

Commenting on the mining progress, Managing Director and CEO Mr Grant Haywood said:

"Our Phillips Find project is gearing up, with equipment mobilisation and site establishment well underway. We look forward to commencing production at Phillips Find later this month, along with mining our Boorara project, we will be mining and generating income from two independent assets in a strong gold price environment.

This is another major achievement for Horizon creating significant cashflows and value from our suite of in ground assets on our path to be a long-term sustainable gold producer."

Next Steps

Site mobilisation and establishment is well underway, with key equipment on site or scheduled for delivery shortly. Mining is due to commence in the coming weeks with early mining predominantly in waste whilst accessing ore through cutbacks of existing open pits. Ore stockpiles will be developed over the coming months, with processing of ore to occur through February to June 2025.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/M59603OL



About Horizon Minerals Limited:  

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×