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Lode Gold (Formerly Stratabound) Initiates Work to Investigate High-Grade Underground Potential at Fremont on the Prolific Mother Lode Belt, ~500 km from Equinox Gold
Toronto, Ontario--(Newsfile Corp. - April 10, 2024) - Lode Gold Resources Inc. (TSXV: LOD) (OTCQ...
About this update from Lode Gold Resources Inc
[{"type":"text","content":"Lode Gold (Formerly Stratabound) Initiates Work to Investigate High-Grade Underground Potential at Fremont on the Prolific Mother Lode Belt, ~500 km from Equinox GoldToronto, Ontario--(Newsfile Corp. - April 10, 2024) - Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) (\"Lode Gold\" or the \"Company\" formerly Stratabound Minerals Corp.) is pleased to announce that it has retained the services of Carlos Saban, an exploration and mine development geologist to review the Company's Fremont Gold Project (Fremont) and to develop a geological model for a potential high-grade underground gold mine. Carlos Saban is skilled in re-interpreting complex mineralized systems. By carefully studying previously mined grades, re-analyzing cut-offs, and gaining new understanding of mineralization, structural and lithological controls, he has been able to systematically expand and upgrade resources in multiple brownfield projects, including work at the Uchucchacua and Recuperada districts, two of the top silver districts in Peru. Carlos has been involved in the identification, delineation, and modelling of several NI 43-101 mineral resource updates, including PEA- and PFS-compliant multi-million-ounce precious metal deposits during his career.Lode Gold has tasked Carlos to investigate Fremont as a potential high-grade underground mine. He will focus on understanding the mineralized veins and ore shoot plunges. This analysis will enable Lode Gold to better define brownfield exploration targets. He will also review Fremont's open-pit model, historical underground workings, previously mined grades, level plans and sections, sampling and production records, and drill hole data base to establish the structural controls of high-grade gold mineralization at Fremont and to generate exploration targets extending beyond the limits of the current published resource. Fremont began operations in or around 1860, with documented production of at least 125,825 ounces of gold at an average grade of 8 g/t Au. It was one of the many gold mines that was closed during the 1942 prohibition on gold mining due to World War II. At that time, gold was less than USD $40/Oz. Inevitably, the mine became a small-scale operation focused on high-grade (165 t/d). When the mine was shuttered by the government, Fremont was ramping up production and executing an extensive explorat...