Lode Gold Resources Inc. (TSXV: LOD; OTCQB: LODFF) reported on August 17, 2026 that it has engaged an engineering firm to begin planning metallurgical work at its Fremont Gold Mine in Mariposa, California, ahead of a large-diameter core drilling program the company is targeting for summer 2026. The release does not name the engineering firm involved. This follows a three-year drilling permit the company announced receiving from Mariposa County earlier this month.
What’s Being Planned
The work involves what’s known as PQ core drilling, a larger-diameter drill core than standard exploration holes, which produces more rock sample for metallurgical testing, the process of figuring out how efficiently gold can actually be extracted from the ore. The company said it will evaluate two different processing approaches: flotation, a more traditional method that matches the layout of historical mining operations at the site, and gravity recovery, a newer, often more efficient approach. The stated goal is to settle on a processing method before finalizing the mine’s design, rather than choosing one afterward. Lode Gold Director Jon Hill said a 2014 metallurgical report found the ore could achieve 91% gold recovery, and that the new work is meant to independently validate that figure rather than simply repeat it.
Why Fremont Has Unusual History
Fremont is a brownfield project, meaning it was previously mined, with more than 43,000 meters of historical drilling and 14 adits (horizontal mine entrances) already on the property. Mining there stopped in 1942 because of a wartime U.S. government order that shut down non-essential gold mines to redirect labor and equipment toward the war effort, not because the deposit ran out. At the time, gold was priced at $35 an ounce, and the mine was reportedly producing ore averaging 10.7 grams per tonne, a notably high grade by today’s standards.
A 2023 Preliminary Economic Assessment for the project outlined 1.16 million ounces of gold in the Indicated resource category and 2.02 million ounces Inferred, and the company updated its Mineral Resource Estimate in 2026 to roughly 1.11 million ounces Measured and Indicated and 1.99 million ounces Inferred. Lode Gold says that comparing its current Indicated resource to the mine’s historical production suggests about 89% of the gold ounces were left unmined when the site closed in 1942, though this is the company’s own characterization and PEA-stage and resource figures are estimates, not guarantees of what can ultimately be recovered. The property spans more than 3,000 acres of company-owned land and carries a federal Opportunity Zone designation, which can offer tax incentives tied to long-term investment in the area.
What’s Next
With the metallurgical planning underway and the three-year drilling permit already in hand, the company’s next disclosed milestone is the PQ drilling program itself, still targeted for summer 2026 as of this release. No budget, hole count, or specific program duration was disclosed.
Sources
Editorial Disclosure
This article is based on a press release issued by Lode Gold Resources Inc. on August 17, 2026, distributed via PRNewswire. Securities discussed: Lode Gold Resources Inc. (TSXV: LOD; OTCQB: LODFF). Mining Markets Report has not received compensation from Lode Gold Resources, its management, investor relations representatives, or any third party for this coverage. No staff member or principal of Mining Markets Report holds a position in this security at the time of publication. The source release states in its headline that metallurgical drilling has commenced, while its body describes the drilling program as scheduled to begin in summer 2026; this article describes the metallurgical planning phase as underway and the drilling program itself as upcoming, to reflect that distinction. The engineering firm engaged for this work is not named in the source release. Mineral resource and PEA-stage figures cited, including the 1.16 million ounce and 2.02 million ounce 2023 PEA figures and the updated 2026 resource estimate, are geological and economic estimates and are not guarantees of recoverable gold; the company’s estimate that 89% of ounces remain unmined is the company’s own characterization and has not been independently verified. Historical recovery rates, including the 91% figure from a 2014 metallurgical report, are historical data being retested and should not be assumed to apply to current or future operations. Statements regarding drilling program timing, metallurgical testing outcomes, and future mine development are forward-looking and involve known and unknown risks; actual results may differ materially. References to this company are for market context and analytical purposes only and do not constitute an investment recommendation. All securities carry investment risk including possible loss of capital. Coverage on Mining Markets Report is for informational and educational purposes only; Mining Markets Report is not a registered investment advisor. Readers should conduct their own due diligence and consult a qualified financial advisor before making investment decisions.
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