Lode Gold Engages Contractor to Initiate Drilling at Fremont Gold Mine
Lode has initiated drilling at the Fremont Gold Mine to advance its 2027 Preliminary Feasibility Study timeline.
Lode Gold Resources Inc. has engaged American Drilling Corp. (ADC) to commence its 2026 exploration and resource definition drilling program at the Fremont Gold Mine in California. Mobilization is scheduled for late July 2026, with drilling execution to follow over the subsequent months.
The program targets 3,500 meters of resource definition and expansion drilling, focusing on the Pine Tree-Josephine and Chicken Gulch deposits, as well as high-priority AI-identified targets including Rosie Jane and Drunken Gulch. The primary objective is to de-risk the deposit and support the completion of a positive Pre-Feasibility Study (PFS) by 2027.
Management reiterated its strategic pivot to a 100% underground bulk mining scenario, citing homogeneous mineralization and excellent grade consistency. The company highlighted that only 20% of the 4-kilometer Mother Lode structure has been explored, with significant upside potential remaining.
Lode Gold Resources Inc. (LOD) has confirmed the selection of contractors and mobilization timelines for its previously announced 3,500-meter Preliminary Feasibility Study (PFS) drill program. The company disclosed this plan on April 13, 2026, with completion targeted for Spring 2027. This announcement validates management's execution capability and represents a routine, expected step in advancing the Fremont project toward a PFS, with no new surprises or material changes to the project's economics or timeline.
While the news demonstrates operational progress, the market impact is likely limited as the release confirms existing expectations rather than introducing a new catalyst. The stock has already priced in the drilling plan and the underground pivot. Furthermore, the announcement does not alter the company's immediate financial requirements or dilution risk, as the $7 million private placement completed in July 2026 is intended to fund this exact technical work.
Lode Gold Resources Inc. is a junior exploration and development company focused on the Fremont Gold Mine in Mariposa County, California. The Fremont project is a brownfield, past-producing mine that suspended operations in 1942. It sits on the southern extension of the 190-km Mother Lode Belt. The company controls 3,351 acres of 100% privately owned patented land, simplifying jurisdictional risks.
The project has shifted from an open-pit concept to a 100% underground bulk mining strategy, aiming to minimize surface footprint and eliminate cyanide use. Historical production was 125,000 ounces at an average grade of 10.7 g/t Au. The updated 2026 Mineral Resource Estimate (MRE) indicates over 1 million ounces in Indicated and 2 million ounces in Inferred categories, with 89% of the resource remaining unmined.
The company also holds the Dingman Gold Project in Ontario and previously spun off its exploration assets into Gold Orogen Resources Corp. (OROG).