Canadian Company Begins Engineering Studies at Historic California Gold Mine

Lode Gold Resources Inc. announced Monday that it has launched engineering studies at the Fremont Gold Mine in Mariposa County. The company is assessing the historic site, which spans more than 3,000 acres and contains two existing shafts and roughly 23 kilometers of underground tunnels.

The deposit is estimated to contain an inferred 1,978,568 ounces of gold. Company materials state that only about 8 percent of the gold has been extracted, leaving an estimated 92 percent still in place.

Background on the Fremont Mine The Fremont Mine opened during California's Gold Rush and ceased operations in 1942. Previous operators extracted ore averaging 10.7 grams of gold per ton when the metal sold for $35 an ounce. Lode Gold has not announced a date for the resumption of underground mining but stated that production is expected to resume in the near term.

The project is part of renewed activity at several historic deposits along California's Mother Lode.

and Additional Deposits Mariposa County

Supervisor Jennifer Kiser said the area was the site of the largest gold discovery in the state. Randy Bolt of the Mariposa Gem and Mineral Club noted that extensive core testing and geophysical surveys have confirmed remaining gold resources. Blue Moon Metals received federal approval in 2025 to mine zinc, gold, silver, and copper at a nearby project estimated to contain 436 million pounds of zinc and 54 million pounds of copper.

Gold prices topped $4,000 an ounce in late June. Jacob Hawley of the Mariposa Chamber said renewed mining interest has increased activity in the historic Gold Rush town.