Lode Gold Completes Field Work to Identify RIRGS Drill Targets - WIN Tombstone Belt, Yukon
Lode Gold's Spin-Out Nears Finish Line as Field Work Outlines Yukon Targets, But Debt and Dilution Loom Over California Revival Dream.
The most recent news release (Jan 26, 2026) announces the completion of 2025 field work at the Golden Culvert and WIN projects in Yukon. The program identified seven highly prospective exploration targets, including three new ones (Rubus, Golden Dragon, Camp), through geological mapping, prospecting, and the collection of over 600 rock and 48 soil samples. Assay results are pending. The release also notes the pending spin-out of the company's subsidiary, Gold Orogen, via a reverse takeover (RTO) of Great Republic Mining, expected to list on the CSE under the symbol 'OROG'.
This news is routine and positive, but not material for Lode Gold as a standalone entity. The exploration update pertains to assets that are imminently being spun out to shareholders. The spin-out itself has been a known and progressing corporate action for nearly a year, with conditional approval received in December 2025. Therefore, this release serves as a final operational update for Gold Orogen prior to its separation. The positive aspect is the successful generation of new targets, which could enhance the initial market perception of the spin-co. However, for Lode Gold shareholders, the primary value driver post-spin will be the Fremont Gold Project in California. This news does not alter the fundamentals or timeline for Fremont.
Lode Gold is a gold exploration and development company. Post spin-out, its sole flagship project will be the Fremont Gold Mine in Mariposa County, California. - Stage: Advanced Resource/PEA-level brownfield project. - Resource (2025 MRE): 1.19 Moz Au at 3.97 g/t (at a 3 g/t cut-off), containing 1.30 Moz recoverable gold. - History: Past-producing mine (115k oz historically) suspended in 1942. Only ~8% of the known resource has been extracted. - Infrastructure: Excellent, with 23 km of existing underground workings, 14 adits, and proximity to roads, rail, power, and water. - Strategy: Pivoting to a 100% underground bulk mining scenario to minimize footprint and eliminate cyanide use. Targeting a pilot plant gold pour by early 2028. - Economics (2023 PEA at $2,000/oz Au): After-tax NPV5% of USD $370M and IRR of 31%.