#United States #Lode Gold #Mariposa #Fremont Gold #Metallurgical Drilling

Lode Gold Initiates Metallurgical Drilling at Fremont Gold Mine

Vancouver, BC, August 17, 2026 – Lode Gold Resources Inc (TSXV: LOD) (OTCQB: LODFF) announced today the commencement of a significant metallurgical drilling program at its flagship Fremont Gold Mine located in Mariposa, California. This project marks a pivotal step in enhancing the mine's operational efficiency and overall economic viability.

The metallurgical drilling will involve advanced engineering services designed to optimize processes, improve resource mapping, and ultimately refine recovery rates.

Key Goals of the Drilling Program

Lode Gold aims to achieve several objectives with this drilling initiative:
1. Metallurgical Representativeness: Lode Gold will ensure thorough oversight of PQ core sampling protocols. This process aims to yield accurate material mapping for future composite studies, which is crucial for the mine's development.
2. Advanced Flowsheet Optimization: The engineering team will focus on designing multi-phase metallurgical programs, balancing gravity circuit performance against effective particle size reduction strategies. This modern approach is expected to significantly enhance processing efficiency.
3. Operational and Capital Efficiency: The focus on modern processing configurations seeks to reduce both capital expenditures (CAPEX) and operating costs (OPEX), pivotal for maximizing the project's economic outcomes.

To ensure the program's success, Lode Gold's geology team will collaborate closely with the metallurgical engineering firm to establish effective criteria for metallurgical testing and sampling protocols. The drilling will specifically target areas identified for mine development, aiming for optimal core collection protocols.

Evaluating Recovery Methods

In an effort to maximize project economics, Lode Gold will evaluate various recovery methods through trade-off studies that will compare the efficacy of gravity recovery to flotation techniques. This approach is vital for expediting permitting processes and ensuring a favorable return on investment.

Historically, conventional flotation circuits align with production layouts previously employed at the mine. However, modern methods incorporating gravity recovery and coarse-particle sorting promise enhanced efficiency and sustainability in operations.

By involving process engineers at the initial stages of drilling, Lode Gold is setting a robust foundation for collecting baseline sample data. This strategy aims to enhance overall processing efficiency and assess opportunities for optimizing grinding size requirements.

Project Timeline

The planned exploration and drilling activities at Fremont are scheduled to begin in Summer 2026. This timeline places the company in a favorable position to gather and analyze crucial data promptly, which will guide subsequent stages of the mine's development.

Historical Context

According to previously conducted studies, the Fremont Gold Mine achieved a commendable 91% recovery rate as noted in the 2014 Metallurgical Report. As a measure of validation, Lode Gold is conducting a new study to re-affirm these findings. The Fremont Gold Mine, a brownfield project with a rich historical backdrop, had mining operations that ceased in 1942 due to World War II's gold mining prohibitions. At that time, it was being mined at an impressive rate of 10.7 g/t when the gold price was $35 per ounce.

The Preliminary Economic Assessment (PEA), completed in 2023, estimated a significant resource base of 1.16 million ounces at an average grade of 1.90 g/t gold, with an additional inferred resource of 2.02 million ounces at 2.22 g/t. Notably, updated resource estimates in 2026 indicated that 89% of the ounces remain unmined, underscoring the potential for future extraction.

Lode Gold's persistence in addressing and enhancing its operational methods positions it well within the cost-sensitive mining industry, especially with the backdrop of economic fluctuations and demand for precious metals.

Conclusion

With the commencement of this metallurgical drilling program, Lode Gold Resources Inc. is strategically poised to bolster its operational efficiency and recovery methods at the Fremont Gold Mine. This initiative exemplifies the company's commitment to refining its processes and maximizing shareholder value, setting the stage for a promising outlook in the competitive mining sector.

For further information, stakeholders are encouraged to check updates from Lode Gold or reach out to the company representatives directly.