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Lode Gold (Formerly Stratabound) Announces Extension of Non-Brokered Financing
Toronto, Ontario--(Newsfile Corp. - February 15, 2024) - Lode Gold Minerals Corp. (TSXV: LOD) (O...
About this update from Lode Gold Resources Inc
[{"type":"text","content":"Lode Gold (Formerly Stratabound) Announces Extension of Non-Brokered FinancingToronto, Ontario--(Newsfile Corp. - February 15, 2024) - Lode Gold Minerals Corp. (TSXV: LOD) (OTCQB: SBMIF) (\"Lode Gold \" or the \"Company\" and formerly Stratabound Minerals) announces that it 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 January 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 TSXV. ABOUT LODE GOLDLode 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 km2 across a 27-km 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 km2 and a 17-km strike length in the emerging Triple Fault Gold Belt, is surrounded by Puma Exploration's Williams Brook Project (5.55 g/t Au over 50m) 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 50,000,000 oz of gold has been produced. Fremont, located 500km north of Equinox Gold's Castle Mountain and Mesquite mines, has a PEA with an after-tax NPV of USD $217MM, a 21% IRR, 11-year LOM, averaging 118k ounces per annum at USD $1,750 gold. The project hosts an NI 43-101 resource of 1.16 Moz at 1.90 g/t Au within 19.0 MT Indicated, and 2.02 Moz at 2.22 g/t Au within 28.3 MT Inferred. The MRE evaluates only 1.4 km of the 4 km strike length of the Fremont property that features 4 gold-mineralized zones. Significantly, three step-out holes at depth hit structure, typical of orogenic deposits that often occur at depth. Fremont is located on priva...