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Lode Gold Resources Inc
Symbol LOD
Shares Issued 278,334,579
Close 2024-02-14 C$ 0.025
Market Cap C$ 6,958,364
Recent Sedar Documents

Lode Gold receives TSX-V OK to extend $1.5M financing

2024-02-15 23:44 ET - News Release

Mr. Gary Nassif reports

LODE GOLD (FORMERLY STRATABOUND) ANNOUNCES EXTENSION OF NON-BROKERED FINANCING

Lode Gold Minerals Corp. (formerly Stratabound Minerals) has been granted an extension by the TSX Venture Exchange to complete its non-brokered financing for gross proceeds of up to $1.5-million at the terms set out in the news release of Jan. 3, 2024. The extended date for final acceptance of the offering is March 5, 2024. It is anticipated that all members of the board of directors will be participating in the financing. The offering remains subject to final approval of the TSX-V.

About Lode Gold Resources Inc.

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

Its Golden Culvert and Win projects, Yukon, covering 99.5 square kilometres across a 27-kilometre 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's Valley target on its Rogue property in the Selwyn basin.

Its McIntyre Brook project, New Brunswick, covering 120 square kilometres and a 17-kilometre strike length in the emerging Triple Fault gold belt, is surrounded by Puma Exploration's Williams Brook project (5.55 grams per tonne gold over 50 metres), 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 million ounces of gold has been produced. Fremont, located 500 kilometres north of Equinox Gold's Castle Mountain and Mesquite mines, has a preliminary economic assessment with an after-tax net present value of $217-million (U.S.), a 21-per-cent internal rate of return and an 11-year life of mine, averaging 118,000 ounces per annum at $1,750 (U.S.) gold. The project hosts a National Instrument 43-101 resource of 1.16 million ounces at 1.90 g/t Au within 19.0 million tonnes indicated and 2.02 Moz at 2.22 g/t Au within 28.3 million tonnes inferred. The mineral resource estimate evaluates only 1.4 kilometres of the four-kilometre strike length of the Fremont property that features four gold-mineralized zones. Significantly, three stepout holes at depth hit structure, typical of orogenic deposits that often occur at depth. Fremont is located on private land in Mariposa, the original gold rush county, and is 1.5 hours from Fresno, Calif. The property has year-round road access, and is close to airports and rail. Please refer to the Fremont gold project preliminary economic assessment dated April 4, 2023, under NI 43-101 guidelines. The technical report has been reviewed and approved by independent qualified persons Eugene Pruitt, PEng, FEC, CET, and Andrew Bradfield, PEng, both of P&E, and Travis Manning, PE, of KCA.

The company also holds a pipeline of early-stage exploration projects including the critical mineral Captain cobalt-copper-gold deposit in New Brunswick and the Dingman gold project, Ontario.

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, who is a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

We seek Safe Harbor.

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