Lode Gold Resources Inc. (TSX.V: LOD | OTCQB: LODFF) announced an accelerated exploration and development strategy at its Fremont Gold Project in Mariposa County, California, aiming to advance the project toward a Preliminary Feasibility Study (PFS) with a 3,500-meter drilling program in 2026 and a subsequent Feasibility Study (FS) with 7,800 meters of drilling in 2028.
The company is revising its development approach to focus on bulk underground mining, leveraging a growing Mineral Resource Estimate and strong geological continuity along the Mother Lode structural corridor. The planned 3,500-meter drill program includes 1,400 meters of metallurgical and geotechnical drilling in the Pine Tree - Josephine area, where historical mining averaged 10.7 g/t gold; 600 meters of hydrological and infill drilling in the same area; and 1,500 meters of step-out exploration drilling in the Chicken Gulch area. This drilling aims to de-risk the project by improving geological confidence, supporting mine design, and expanding mineralization within the central structural corridor.
Jon Hill, Technical Committee Chair and Director, noted, "At Fremont the company has clearly demonstrated mineralization characteristics, especially grade x thickness and ounces per vertical meter metrics ideally suited for bulk underground mining and expedited development." He highlighted that significant mineralization widths and grade continuity contribute to an exceptional mineral resource inventory of approximately 3 million ounces defined over an 800-meter strike segment of the broader 4 km mineralized trend.
The Chicken Gulch area lies within the central Mother Lode structural corridor, where only about 20% of the first 500 meters of strike length is currently included in the existing mineral resource estimate. The drilling will test extensions along this corridor to potentially expand resource areas near the central trend. The company targets completing the PFS by Q2 2027.
Bill Fisher of the Technical Advisory Board added, "There are very few projects that can realistically advance to a Pre-Feasibility Study within a 15-month timeframe. Fremont benefits from an extensive historical database, strong geological continuity, and an easy to upgrade resource base, which together allow us to significantly accelerate the technical work."
Following the PFS, the company plans an additional 7,800-meter underground drilling program for the Feasibility Study stage, conducted from two parallel exploration ramps approximately 2,200 meters each. These ramps will provide direct underground access for drilling, improving data collection accuracy, and are expected to be incorporated into future mining infrastructure. The company targets FS completion by 2029.
CEO Wendy T. Chan stated, "We are implementing a clear and disciplined strategy to fast-track Fremont from resource definition through to feasibility and ultimately development. The planned drilling programs are designed not only to support the PFS, but also to position the Project for a seamless transition into the Feasibility Study stage and future mine development."
Advancing Fremont to the PFS and FS stages represents a key step in unlocking the project's value. The last comparable technical advancement was in 1986 under a different concept. The current bulk underground mining strategy reflects improved geological understanding and favorable market conditions.
Gary Wong, P.Eng., Vice President of Exploration, has reviewed and approved the technical information in this release as a qualified person under NI 43-101.
