Lode Gold Resources to drill Fremont Gold Mine Project, California
Lode Gold Resources Inc. [TSXV: LOD; OTCQB: LODFF] provided an update on its fully integrated 2026 exploration and resource definition drilling program at the Fremont Gold Mine property in Mariposa County, California. Fremont sits on over 3,000 acres of private patented land claims, with extensive brownfield infrastructure. Fremont hosts a structurally controlled orogenic gold system along the prolific Mother Lode Belt, characterized by strong continuity and significant exploration upside within and beyond the currently modeled resource areas.
This work program marks a major milestone in advancing Fremont, combining systematic diamond drilling, verification of extensive historical data, and modern geoscience and engineering work to quickly refine the geological model and unlock the mineralized system’s broader scale potential. Once the upcoming drill program completes, over 20,000 of the 43,000 metres of historical core will be relogged.
The company has engaged US-based drilling and mining contractor American Drilling Corp. (ADC), a division of American Mining and Tunneling, for the drilling work program at Fremont. Personnel and equipment will be mobilized before the end of the month (July 2026).
Lode Gold will complete drilling over the next few months to advance Pre-Feasibility Study (PFS) evaluating bulk underground mining scenarios. PFS completion is expected in 2027.
Exploration Work Program Highlights: Phased exploration and development program designed to advance Fremont toward a Pre-Feasibility Study (PFS), targeted for completion in 2027; resource definition drilling program of 3,500 metre and expansion drilling to evaluate additional high-priority exploration targets outside of current mineralization trends to potentially add ounces.
Wendy T. Chan, CEO and a director of Lode Gold, commented: “The launch of the upcoming exploration work marks a key milestone for Lode Gold. Having successfully completed our corporate turnaround in the last two years, we are beginning to execute our growth strategy and plans. Completing a positive PFS by 2027 could significantly unlock value for shareholders. The previous studies were based on an open pit mine plan that did not resonate with investors. Our team has painstakingly studied the deposit and evaluated various geological models to identify the best path forward, resulting in a strategic pivot to a 100% underground mining scenario.
“Underground mine is possible because we have a homogeneous mineralized body with excellent grade consistency both in the veins and in the surrounding disseminated mineralization, yielding a robust average true width of approximately 50 metres within the RPEEE stopes. Transitioning to a 100% underground design minimizes our footprint, utilizing only 20% of the surface land area.”
Hashim Ahmed, chairman, added: “We currently have over 1 million ounces of Indicated and 2 million ounces of Inferred resources (2026 MRE); however, only 20% of the structure has been explored – what we know is only mostly within the first 250 meters. The 2026 MRE, recently filed with SEDAR+, is based only on three of our seven deposits. Notably, nearly 90% of the historic ounces left behind in 1942 sit across just an 800-metre segment of the 4 km-long Mother Lode Belt, enabling a cost-effective underground project. The mirror image of the Pine Tree – Josephine structure has not been drill-tested – that is the upcoming opportunity for all of us who are shareholders.”
More details regarding the exploration work program. Phase 1 – Resource Definition Drill Program: Phase 1 will focus on technical de-risking and resource expansion on the core deposit Pine Tree – Josephine across an 800 m extension within the 4 km central structural corridor and will include 1,400 metres of metallurgical and geotechnical drill holes in the Pine Tree–Josephine area; 600 metres of hydrological and infill drill holes in the Pine Tree–Josephine area; and 1,500 metres of step-out exploration drilling in the Chicken Gulch area.
Chicken Gulch lies within the broader central Mother Lode structural corridor, where only approximately 20% of the first 500 metres of strike length is currently included in the existing MRE. The planned drilling aims to test extensions of mineralization along this corridor and potentially expand resource areas within the central trend.
Phase 2 – Expansion Targets Outside the Central Trend. Phase 2 drilling will evaluate additional high-priority exploration targets, including Rosie Jane and Drunken Gulch, which are located outside the currently modeled central corridor. These targets were identified through structural interpretation, geochemical assays, local geophysics and AI-assisted targeting using the VRIFY AI tool, Dora, and represent prospective zones for new mineralized centers along the broader property package. Phase 2 will be designed after surface geochemical samples campaign results, targeted to be completed in Q3 2026.
Lode Gold has key assets in Canada and the United States. Fremont Gold Mine Project (Fremont Gold Mining LLC) is a brownfield project in Mariposa, California with 43,000 metres drilled, 10,000 underground channel samples, 14 adits and two shafts. Mining halted in 1942 due to the gold mining prohibition during WW II. It was mined at 10.7 g/t when price was gold was $35/oz. A PEA was completed in 2023. The PEA was based on 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 Mt Inferred. The MRE was updated in 2026; 89% of the ounces were left unmined if we compare historical production with our current Indicated Resource. Average true widths at 1 g/t cut off is 53 metres. The project sits on >3,000 acres of 100%-owned private and patented land which is designated as OZ, Trump Administration Opportunity Zone (Special Tax Incentives).
The Dingman property is an orogenic deposit in Ontario, Canada with over 22,000 metres drilled, with a 2013 PEA, MRE: 376,000 oz at 0.94 g/t within 12.5 Mt measured and indicated and 47,000 oz at 0.71 g/t within 2.1 Mt Inferred.