Lode Gold Resources Inc. has initiated a new Mineral Resource Estimation block model for its Fremont Gold Project in Mariposa, California, incorporating over 7,000 historical underground channel samples previously unavailable in digital format. This expanded dataset, recovered from original mine level maps and plans, significantly increases data density within historically mined areas of the deposit.
The updated model will reinterpret the Fremont deposit as a continuous mineralized body rather than discrete vein-only domains, evaluating the resource using a lower cut-off grade supported by updated underground mining cost assumptions from local contractors. This approach aligns with the company's strategic focus on bulk underground mining outlined in recent technical and economic studies. Jonathan Hill, Director and Chair of the Technical Committee, stated this new block model represents an important evolution in interpreting the Fremont deposit, aligning the geological model with a bulk underground mining approach that better reflects the system's scale, continuity, and mining potential.
The Fremont Gold Mine is an advanced exploration and early development brownfield project previously mined at 10.7 grams per tonne until production halted in 1942 during World War II gold mining prohibitions. Located on the prolific 190 km Mother Lode Belt, the project has seven deposits along a 4 km strike, with only two having seen exploitation. According to the 2025 Mineral Resource Estimate, only 8% of the resource has been exploited, leaving 92% to be mined in upcoming years. The project sits on 3,351 acres of patented private land with 100% ownership of surface and mineral rights, featuring road access, electricity, and proximity to rail and airport infrastructure.
The new Mineral Resource Estimation is being completed in accordance with NI 43-101 standards, with further updates to be provided once work is finalized and reviewed by Qualified Persons. Technical reports on the company's properties are available on the Company's profile on SEDAR+ (https://www.sedarplus.ca) and the Company's website (https://www.lode-gold.com). The company recently completed an internal scoping study evaluating the potential to resume operations at Fremont based on 100% underground mining, following a March 2023 Preliminary Economic Assessment that evaluated a mix of open pit and underground mining.
This development matters because it represents a significant advancement in understanding and potentially revitalizing a historically important gold deposit. The Fremont Mine has been operational since 1849 as one of the first projects that started the California Gold Rush, and its reactivation could contribute to domestic gold production in a jurisdiction with established infrastructure. The inclusion of previously unavailable historical data could lead to a more accurate resource estimate, potentially improving project economics and supporting more efficient mining methods. For investors and the mining industry, this represents a methodical approach to brownfield redevelopment that leverages historical data while applying modern geological modeling techniques.
