Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) has finalized a $3.5 million investment agreement with Fancamp Exploration Ltd. This agreement includes the creation of a joint venture between Gold Orogen and Fancamp, combining mineral claims holdings in New Brunswick. The investment will also make Fancamp a key shareholder of Lode Gold and a 19.9% shareholder of Gold Orogen.
### Creation of Strategic Mineral Claims Holdings
The Investment Agreement forms the foundation for one of the largest mineral claims holdings in New Brunswick, covering 420 km² across a highly prospective belt with recent significant discoveries like Dalradian, New Found Gold, and Calibre Mining. Gold Orogen, also known as Spin Co, will have interests in four key exploration assets in Yukon and New Brunswick, enhancing the exploration portfolio.
### Joint Venture and Investment Allocation
Fancamp’s investment will be split between Lode Gold and Gold Orogen, with a significant portion designated as flow-through eligible spend in Yukon and New Brunswick. The 50-50 joint venture established on the New Brunswick assets will leverage the strengths of both companies, with plans for upcoming exploration drilling.
### Insight into Exploration Projects
Lode Gold’s McIntyre Brook project and the neighboring properties show a pattern of mineralization with shared characteristics, including strong structural control and lithological features guiding mineralization. The company’s McIntyre Brook holdings, strategically located in the Appalachian/Iapetus Gold belt, are part of an important gold mineralized trend.
### Leadership and Expertise
The leadership and technical teams of Gold Orogen and JV Co will benefit from the expertise of industry veterans like Wendy T. Chan, Rajesh Sharma, Buddy Doyle, Charles Tarnocai, and Francois Auclair. These individuals bring a wealth of experience in mineral exploration and development to the table.
### Share Consolidation and Forward-Looking Information
Shareholders will benefit from the planned share consolidation, making shares more investable for international shareholders. Additionally, the company’s forward-looking statements highlight the potential and risks associated with the transactions and exploration efforts.
Overall, the partnership between Lode Gold and Fancamp signifies a significant milestone for both companies, positioning them for success in the highly prospective mineral exploration sector.
