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LODE GOLD RESOURCES INC - SBMIF STOCK NEWS

Welcome to our dedicated page for LODE GOLD RESOURCES news (Ticker: SBMIF), a resource for investors and traders seeking the latest updates and insights on LODE GOLD RESOURCES stock.

Lode Gold Resources Inc. (SBMIF) is a Canadian exploration and development company with projects in Yukon and New Brunswick. The company, formerly known as Stratabound Minerals Corp., closed a shares-for-debt transaction and is planning to spin off its Canadian assets into a new public vehicle. Led by CEO Wendy T. Chan and VP Exploration Buddy Doyle, Lode Gold focuses on high-grade gold mineralization in safe mining jurisdictions. The McIntyre Brook Project in New Brunswick, surrounded by Puma Exploration's Williams Brook Project, shows promising results. With strategic plans for growth and restructuring, including non-brokered financings and loan repayments, Lode Gold aims to unlock shareholder value and advance its exploration programs.

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Lode Gold Minerals announces the appointment of Winfield Ding as Chief Financial Officer, effective immediately. Ding brings over twenty years of finance and operations experience, having previously served as CFO and Director for multiple public companies in Canada and the US. He has a strong background in audit, taxation, advisory, and financial reporting for public issuers, with notable experience in cross-border transactions and IPOs.

Concurrent with this appointment, Brendan Blair, the current CFO, and Gary Nassif, the current Senior Vice President, have resigned to pursue other opportunities. Blair has been with Lode Gold for 12 years, guiding the company through a challenging decade for junior mining, while Nassif was instrumental in the company's acquisition of Fremont, California, and the completion of their PEA study.

CEO Wendy T. Chan assures that day-to-day operations will continue smoothly as the company focuses on building a core team with expertise in capital markets and technical proficiencies.

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Lode Gold Resources (TSXV: LOD, OTCQB: SBMIF) has shared a mid-year update on its 3-Step Restructuring & Growth Strategy for 2024. The plan, approved in October 2023, has driven significant milestones including a C$2.08M oversubscribed private placement and an increase in market capitalization from $3.3M in November 2023 to $14M by June 2024.

Key achievements include expanding ownership in Yukon and New Brunswick, and commissioning a geophysical survey for its Golden Culvert and Win projects in Yukon. They have also identified an underground mining opportunity at Fremont, Mariposa, targeting 2M Oz of gold at 5 g/t Au.

The team has been strengthened with industry veterans and the company has launched a new website for enhanced marketing and investor relations. Upcoming plans include spinning out Canadian assets into a new entity, Gold Orogen, and a 4,500m drill campaign at Fremont.

Stock options have been granted to various directors and officers, exercisable at $0.05 per share over five years.

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Lode Gold Minerals has released a report evaluating the potential for high-grade underground mining at its Fremont property in Mariposa, California, part of the historic Mother Lode Gold Belt. This evaluation highlights significant historical data, including 42,700 meters of drilling and an average historical channel sampling grade of 4.7 g/t Au. The study reveals that only 16% of the upper 500 meters of the structure has been explored, with high-grade gold mineralization found in veins, stockworks, and outside the veins. The report outlines a new 4,500-meter drilling plan to expand current resources and confirm high-grade underground potential. Statistical analysis of historical data shows consistent vein widths and gold grades, guiding future exploration efforts.

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Lode Gold has successfully repaid all its short-term working capital loans amounting to $500,000 as of March 2024. This move is part of the company's ongoing efforts to enhance its balance sheet and boost shareholder value. The loan agreements were previously detailed in a press release dated September 27, 2023. Lode Gold remains committed to executing its strategic plans aimed at financial stability and growth.

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Lode Gold has commissioned a QMAG(T) geophysical survey spanning 1,151-line kilometres for its Golden Culvert and Win projects in the Yukon. This collaborative survey, conducted with Snowline Gold, Seabridge Gold, and Aben Minerals, utilizes a cutting-edge SQUID sensor to measure the full tensor gradient of the earth's magnetic field, enhancing the sensitivity and accuracy of the data collected. The QMAG(T) system offers significant improvements over traditional Cesium magnetometer surveys, providing important directional information and greater detail, aiding in the identification of mineralization structures. The resultant data is expected by the end of June, guiding Lode Gold's exploration teams in July.

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Lode Gold Resources (TSXV: LOD, OTCQB: SBMIF) announced high exploration potential at its 111 km2 McIntyre Brook Project in New Brunswick. The project contains multiple mineral occurrences, mainly gold with base metals, influenced by structural geological features. Notably, the Moose, Inlet, McIntyre Brook, and Big Pit prospects, aligned along the McIntyre Brook Fault, show strong exploration potential. Drilling in 2019 revealed gold mineralization, and further work is planned to expand these findings.

The McIntyre Brook Project will be part of a spin-out into a new entity, Gold Orogen, to focus exploration efforts. Neighboring Puma Exploration's success at the Lynx trend could extend into Lode Gold’s property, suggesting additional exploration targets.

Future work includes soil sampling, trenching, and drilling to refine understanding and expand on current discoveries. The company is optimistic about recommencing exploration activities given the promising geological setting and mineralization patterns.

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Lode Gold has announced a $2 million non-brokered financing. This includes $1 million through issuing 28,571,429 Hard-Dollar Units at $0.035 each and another $1 million through 25,000,000 Flow-Through Units at $0.04 each.

Each Hard-Dollar Unit consists of one common share and one warrant, allowing purchase of an additional share at $0.05 for two years. Each Flow-Through Unit includes one common share and half of a warrant, with a whole warrant allowing purchase of an additional share at $0.06 for two years.

The financing aims to support Lode Gold’s 3-Step Growth and Restructuring Strategy, including a QMAGT survey and a 4,500-meter drill program on their Fremont Gold project. The proceeds will also fund exploration in Yukon and New Brunswick and general working capital.

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Lode Gold Resources has established a new subsidiary to manage its Yukon and New Brunswick assets, intending to spin it off into a public company called Gold Orogen. This move aims to unlock shareholder value through either a direct listing or reverse takeover. The Yukon properties include the Win property, featuring gold-bearing quartz veins with grades up to 8.53 g/t Au, and the Golden Culvert property. The McIntyre Brook Project in New Brunswick hosts gold, base metals, and cobalt mineralization. Buddy Doyle, a seasoned geologist, will lead the exploration. Lode Gold's market capitalization was $30 million in 2020 with these assets.

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Lode Gold Resources Inc. completes the second-year commitments on property options, advancing McIntyre Brook ownership. The company closed a shares-for-debt transaction, making payments totaling $209,000. Certain property optionors chose to receive payments in shares, showing support for the new management team. Wendy T. Chan, CEO of Lode Gold, highlights the anticipation for exploration efforts on the Appalachian Gold Trend.
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Lode Gold (Formerly Stratabound) has engaged Martin Stratte as an advisor for matters related to the Fremont Project in California. Stratte, a former director of the company, is an experienced land use and environmental permitting attorney with expertise in the mining sector. The company aims to leverage his knowledge to advance its ongoing activities at the Fremont Gold Project, located on the Mother Lode Belt. The project has significant potential to become a multi-million-ounce high-grade deposit, complementing existing resources.
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FAQ

What is the current stock price of LODE GOLD RESOURCES (SBMIF)?

The current stock price of LODE GOLD RESOURCES (SBMIF) is $0.0159 as of November 26, 2024.

What is the market cap of LODE GOLD RESOURCES (SBMIF)?

The market cap of LODE GOLD RESOURCES (SBMIF) is approximately 5.3M.

What is Lode Gold Resources Inc.?

Lode Gold Resources Inc. is a Canadian exploration and development company with projects in Yukon and New Brunswick, focusing on high-grade gold mineralization.

Who leads Lode Gold Resources Inc.?

Lode Gold Resources Inc. is led by CEO Wendy T. Chan and VP Exploration Buddy Doyle.

What are the strategic plans of Lode Gold Resources Inc.?

Lode Gold Resources Inc. has strategic plans for growth and restructuring, including non-brokered financings and loan repayments to unlock shareholder value and advance exploration programs.

What is the McIntyre Brook Project?

The McIntyre Brook Project in New Brunswick is a key focus area for Lode Gold Resources Inc., surrounded by Puma Exploration's Williams Brook Project, showing promising results in high-grade gold mineralization.

What recent transactions has Lode Gold Resources Inc. completed?

Lode Gold Resources Inc. closed a shares-for-debt transaction and plans to spin off its Canadian assets into a new public vehicle.

LODE GOLD RESOURCES INC

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5.32M
27.54M
27.56%
18.76%
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