The agreement creates one of the largest mineral claims holdings in the province, covering 420 km² in a region known for promising gold discoveries. Gold Orogen will now hold interests in orogenic gold camps, specifically in Yukon and New Brunswick.
Lode Gold also plans to spin out Gold Orogen, listing its shares on a Canadian exchange, and Lode Gold shareholders will receive shares in the spintout in addition to retaining their shares in Lode Gold.
Fancamp’s C$3.5 million investment will be split, with C$500,000 going to Lode Gold and C$3 million to Gold Orogen. Of this, C$2 million will be used for exploration in Yukon and New Brunswick. Fancamp and Gold Orogen will operate the joint venture, with drilling scheduled for both properties soon.
The Fremont property in California will remain with Lode Gold. It has an indicated resource of 19 million tonnes at 1.9 g/t gold, totaling 1.2 million oz., and an inferred resource of 28.3…
