California news!! Higher grade underground...
LOOKS like good news - very technical though?
https://lode-gold.com/news/lode-gold-pivots-strategy-to-focus-on-underground-opportunity-present-results-of-the-evaluation-of-a-potential-high-grade-underground-mine-at-fremont-mariposa-on-the-prolific-mother-lode-gold/
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Lode Gold PIvots strategy to focus on underground opportunity & present results of the evaluation of a potential high-grade underground mine at fremont, mariposa, on the prolific mother lode gold belt
LODE GOLD PIVOTS STRATEGY TO FOCUS ON UNDERGROUND OPPORTUNITY & PRESENTS RESULTS OF THE EVALUATION OF A POTENTIAL HIGH-GRADE UNDERGROUND MINE AT FREMONT, MARIPOSA, ON THE PROLIFIC MOTHER LODE BELT
Lode Gold Minerals Inc. has presented the results of the evaluation directed by Carlos Saban, Lode Gold’s technical adviser, an exploration and mine geologist, regarding the potential of a high-grade underground mine at Fremont, Mariposa. Mariposa, California is the original gold rush county, where gold mining started back in 1848. Currently in California, there are over 700 permitted and operating mines; 14 are gold mines. Mining operations was suspended in 1942 due to gold mining prohibition during World War II. Previous owners of this project had solely focused on open pit possibilities. Lode Gold, for the first time, since high grade (8 g/t Au) underground mining operation was suspended in the 1940’s, has commissioned a study to evaluate the opportunity for an high grade underground potential.
HIGHLIGHTS
- Fremont is an orogenic gold deposit hosted in the ophiolitic suture of the 190 km Mother Lode Belt. Mineralization is evidenced on a 4 km strike on the property Mineralization is hosted both in the melange of the suture and in the slates of the Mariposa Formation in the hanging wall
- 42,700 m of historical drilling comprises of diamond and reverse circulation holes
- Current resource represents only 16% of the upper 500 m of the structure (Pine Tree – Josephine & Queen Specimen; 2 of the 6 projects in the property)
- The high-grade areas are controlled by transverse extensional faults
- Average grade of historical channel sampling is 4.7 g/t Au (vein average true width: 1.92 m)
- Mineralization is hosted in a body that has veins with 5 g/t Au, 2 g/t Au of stockwork between veins, and stockwork of 1 g/t of Au outside the veins
- 40% of mineralization is in veins, 30% in the stockwork between the veins, and 30% is outside the veins
- Only small portions of the veins were mined; stockworks outside the veins were not mined. Historical production equals 16% of current M+I resource
- Deepest drillhole hit mineralization 1,000 m below the surface and 1,300 m on the strike of the structure
- Upcoming drill plan – 4,500 m of step-out and infill drilling (upper 500 m of structure, short drill holes) to expand current resources and to confirm high grade underground potential
Carlos has undertaken a detailed study of the historical information of the 2023 PEA to investigate the potential of a high-grade underground mine at Fremont. The assays have been analyzed to study the veins separately from the mineralized body as a whole.