Lode Gold Resources Inc has initiated development of a new Mineral Resource Estimation block model for its Fremont Gold Project located in Mariposa, California. This model integrates over 7,000 historical underground channel samples that were recently recovered and digitized from original mine maps. These data were previously unavailable in digital format and substantially increase information density within the historically mined areas of the project.
The updated model will reinterpret the Fremont deposit as a continuous mineralized body rather than discrete vein-only domains. It will also assess the resource using a lower cut-off grade, supported by revised underground mining cost assumptions obtained from local contractors. This methodology aligns with the company's strategic emphasis on bulk underground mining, as detailed in recent technical studies. The incorporation of additional data is anticipated to improve geological continuity, enhance confidence in grade distribution, and facilitate evaluation of wider mining widths suitable for bulk underground operations.
Jonathan Hill, Director and Chair of the Technical Committee at Lode Gold, indicated that this new block model signifies a significant evolution in interpreting the Fremont deposit. By modeling the system as a continuous mineralized body and integrating thousands of newly digitized historical samples, the geological model now more accurately represents the scale, continuity, and mining potential of the system for bulk underground mining.
The Fremont Gold Mine is an advanced exploration and early development brownfield project historically mined at an average grade of 10.7 grams per tonne gold. Production ceased in 1942 during World War II when gold mining was prohibited. The property hosts seven deposits along a 4-kilometer strike on the prolific 190-kilometer Mother Lode Belt, with only two of the seven deposits having undergone exploitation. According to the 2025 mineral resource estimate, merely 8% of the resource has been mined, leaving 92% available for future extraction.
The project benefits from substantial existing infrastructure, including 42,717.3 meters of drilling, 8,593 underground channel samples, 23 kilometers of underground workings, 20 adits, 16 levels, and 5 shafts. It occupies 3,351 acres of patented private land with 100% ownership of surface and mineral rights, and features road access, electricity, and proximity to rail and airport facilities. The company recently concluded an internal scoping study evaluating the potential to resume operations at Fremont based entirely on underground mining. Previously, in March 2023, the company completed a Preliminary Economic Assessment that considered a combination of open pit and underground mining.
The new Mineral Resource Estimation is being conducted in compliance with NI 43-101 standards. Additional updates, including results of the revised resource estimate, will be provided upon finalization and review by Qualified Persons. Technical reports on the company's properties are accessible on the Company's profile on SEDAR+ and the Company's website at https://www.lode-gold.com.
