Lode Gold Clears Debt to Advance Fremont Mine Plan
Lode Gold has submitted documents to discharge senior debt, freeing the Fremont Gold Mine from encumbrance to begin a new preliminary mine plan.
Key points
- Lode Gold submitted documents to discharge senior debt, freeing the Fremont Gold Mine from security and eliminating outstanding loan obligations.
- The company plans to develop a preliminary mine plan for Fremont over the next six months to support environmental studies and permitting.
- Fremont holds 1.16 Moz of indicated gold resources at 1.90 g/t, while the Dingman property in Ontario contains 376,000 oz of measured and indicated gold.
Lode Gold Resources Inc. has submitted all necessary documents to discharge its senior secured debt obligations. As reported by TMX Newsfile, this action releases the Fremont Gold Mine from security, leaving the company with no outstanding loan obligations.
With the debt cleared, Lode Gold is shifting its focus entirely to technical development. The company aims to use this financial freedom to advance the Fremont project through resource expansion and corporate growth without the constraints of previous loan covenants.
Fremont Mine Enters Technical Development
Over the next six months, the company plans to develop a preliminary mine plan for the Fremont Gold Mine. This step is designed to establish the technical foundation required for subsequent environmental studies and permitting work.
The Fremont project is a brownfield asset in Mariposa, California, featuring 43,000 meters of drilling and 14 adits. Historical data indicates mining halted in 1942 at a grade of 10.7 g/t, with 89% of ounces remaining unmined relative to current indicated resources.
Asset Details and Resource Estimates
A 2023 PEA estimated 1.16 million ounces of gold at 1.90 g/t within 19.0 million tonnes of indicated resources. The company updated its Mineral Resource Estimate in 2026, confirming the project sits on over 3,000 acres of patented land designated as an Opportunity Zone.
Portfolio Includes Dingman Property
Lode Gold also holds the Dingman Property in Ontario, Canada, an orogenic deposit with over 22,000 meters drilled. The 2013 PEA for this site estimated 376,000 ounces at 0.94 g/t within measured and indicated resources, providing a secondary asset in the company's portfolio.
