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Lode Gold Closes Second Tranche of Private Placement for Total Financing of $1.2 Million to Initiate Work at the Fremont Mine in California
Toronto, Ontario--(Newsfile Corp. - June 16, 2025) - Lode Gold Resources Inc. (TSXV: LOD) (OTCQB...
About this update from Lode Gold Resources Inc
[{"type":"text","content":"Lode Gold Closes Second Tranche of Private Placement for Total Financing of $1.2 Million to Initiate Work at the Fremont Mine in CaliforniaToronto, Ontario--(Newsfile Corp. - June 16, 2025) - Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: LODFF) (\"Lode Gold\" or the \"Company\") is pleased to announce it has closed the second tranche of its non-brokered private placement offering. Proceeds will be used to advance work at the Fremont Mine in Mariposa, California. This is an advanced-stage exploration and development asset, where recently an NI 43 -101 compliant mineral resource estimate (MRE 2025) was completed with a new geological model that separates vein mineralization from stockwork: 1.34 Moz at 4.4 g/t (3 g/t cut off, average true width: 16.8 m).1Table 1To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4064/255791_lode_table1.jpgFremont was previously mined at 10.7 g/t. Only 8% of the total mineral resource, filed at SEDAR+ (April 2025) has been extracted, mostly in the first 250 m. This is a structurally controlled orogenic deposit with excellent continuity. Exploration upside exists as it is open at depth and on strike. Three step-out holes at 1,300 m hit structure and were mineralized.Upcoming 2025-2026 Catalysts: Rehabilitation of 2 km of the 23 km of underground workingsAccess to three of the adits, out of a total of 14Channel sampling to upgrade resources to M&IMetallurgy and Recovery StudiesGeotechnical work and rock mechanics assessmentsUnderground drilling 3,000 m (to initiate Pre-Feasibility Study)  Completion of Pre-Feasibility Study (underground bulk mining and other optimized methods will be evaluated) \"We had a busy year. We completed corporate restructuring, a joint venture, the creation of a spin-co, and advanced all three of our assets in Yukon, New Brunswick and California. Over the past 12 months, we delivered three technical reports. At Fremont, two pivotal findings stand out: first, mineralization in the stockworks—outside the veins—remains completely untouched when mining was suspended during World War II (1942), when gold was just $35/oz. Second, at a 1 g/t cut-off, we see an impressive average true width of 53 meters,\" comments Wendy T. Chan, CEO and Director of Lode Gold. \"The 2023 Preliminary Economic Assessment (PEA) i...