18:41:44 EDT Mon 17 Jun 2024
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Lode Gold Resources Inc
Symbol LOD
Shares Issued 276,765,029
Close 2024-01-30 C$ 0.025
Market Cap C$ 6,919,126
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Lode Gold talks Au potential at McIntyre Brook

2024-01-31 13:19 ET - News Release

Ms. Wendy Chan reports


Lode Gold Resources Inc. (formerly Stratabound Minerals) has provided an update on its McIntyre gold project in the underexplored, world-class Appalachian gold corridor (AGC). The AGC contains over 20 million ounces of gold resources stretching along a band that parallels the Iapetus suture, a geological structure that represents the closure of the Iapetus Ocean in the Silurian epoch (420 million years). This greater-than-4,000-kilometre-long structure that stretches from South Carolina, through New Brunswick, Nova Scotia and Newfoundland, also continues across the Atlantic through Ireland, Scotland and Norway.

Buddy Doyle, vice-president, exploration, stated: "It is with great anticipation that I join Lode Gold and turn my attention to the task of exploring the company's excellent portfolio of gold projects commencing with a review of our McIntyre Brook property, New Brunswick. This news release will be the first of the series where together with the reader, we build on the evidence that McIntyre Brook has a high probability of entering the list of significant AGC gold deposits; the outcome of this work will be a drill program focused on discovery."

In this initial news release, the company reports on the work presented in the recently published information bulletin by the New Brunswick Department of Natural Resources. The bulletin, a collaboration between the department, the University of New Brunswick and Lode Gold (formerly Stratabound), through its consultant, Axiom, presents a mineral predictive map (MPM) covering the eastern part of the McIntyre project.

The MPM identifies specific zones that exhibit a higher potential for gold mineralization and is designed to target exploration. Critical factors controlling gold mineralization include geological structures, favourable host rock types, geochemical anomalies indicative of gold, and geophysical anomalies suggesting mineralization and/or lithological contrasts that focus gold mineralization.

Lode Gold plans to continue this collaboration. A close-spaced airborne magnetic survey coupled with soil sampling and mapping in the eastern part of the property not covered in the current MPM will be the first step. Once these results are received, the MPM will be updated, and at that time, artificial intelligence and machine learning techniques will be brought into play.

Lode Gold acknowledges its neighbour, Puma Exploration, has also undertaken this collaboration and is actively using the results in its exploration efforts, where it has met with exploration success.

Wendy T. Chan, chief executive officer of Lode Gold, commented: "Reviewing and planning the McIntyre Brook project and our Yukon gold projects will ensure a successful foundation for our new spinout company, Gold Orogen. This strategy is designed to unlock the intrinsic value of our three key assets in California, Yukon and New Brunswick. On a forward basis, we will be able to have singular focus on each of these projects. The California Fremont gold project will remain in Lode Gold Resources. Gold Orogen will have one or both of the Yukon and New Brunswick assets. These are exciting times for our shareholders, and we highlight the current opportunity to participate in our financing which will give the participant shares in both entities."

About Lode Gold Resources Inc.

Lode Gold Resources is a Canadian exploration and development company with grassroots and advanced exploration properties in highly prospective and safe mining jurisdictions.

Qualified person statement

The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, director, BSc (honours) (economic geology -- UCT), FAusIMM, and who is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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