Projects

Projects

OVERVIEW

Lincoln Gold Mining Inc. (Lincoln or the Company) is exploring and developing properties in key mineral regions of North America. The Company holds interests in two gold projects in the United States located within districts with excellent infrastructure and that have significant histories of mineral production; these are the Pine Grove gold property in Nevada and the Oro Cruz gold property in California. The Company has recently entered into an option agreement to acquire 100% interest in the Shawinigan nickel, copper and cobalt property in Quebec, Canada.

Lincoln continues to evaluate mineral properties which contain significant potential. Properties with economic merit and good logistics will be considered for acquisition. For more detailed information on each of the Company's properties, please go to each Project section of this website.

NEVADA, USA

Pine Grove Property - The Company's immediate objective is to achieve production at the development-stage Pine Grove gold project in Lyon County, Nevada. Lincoln filed an Amended and Restated NI 43-101 Preliminary Economic Assessment for the Pine Grove project in February 2015. The report is available for viewing in the Technical Report section. At this time, the Pine Grove project hosts two gold deposits: the Wilson deposit and the Wheeler deposit.

Since 2016, drill programs, survey work, geotechnical work, a field exploration program that identified new target areas at the project, and other production permitting work have been conducted at Pine Grove. Lincoln is now well underway in the permitting studies needed to take the project to production. A prefeasibility study is planned for October 2021. Please refer to the Pine Grove project section for more details on this project.

In March 2021, to reduce Net Smelter Returns Royalty (“NSR) on the patented claims at Pine Grove, Lincoln signed a Letter of Intent (“LOI”) with Lyon Grove LLC to reduce the royalties on its Wilson property. Under the terms of the LOI, the Company will buydown the Wilson property NSR from 2.5% to 1.0% on the patented claims and from 5.0% to 1.0% on the claims that fall within the area of interest.  The Company also signed a LOI with Wheeler Mining Company on the Wheeler property which comprises a substantial part of the Company’s Pine Grove project. Under the terms of the LOI, the Company will buydown the NSR from 7% to 2%. The LOI’s are subject to regulatory approval, the execution of a definitive agreement and project financing.

CALIFORNIA, USA

Oro Cruz Property - The Oro Cruz project in Imperial County, California, was leased in February 2010 from ADGIS, Inc. to acquire a core of 20 lode claims that cover the Oro Cruz gold deposit and Lincoln has subsequently staked claims in the surrounding area. The Company entered into a formal Option and Joint Venture Agreement with Southern Empire Resources Corp. Southern Empire continues work on the property as they need to spend approximately US$2.1 million in property payments, and fund exploration and development at the project over the next five years.  

On May 20, 2020, the Company entered into a sale and purchase agreement to assign an undivided 25% interest in and to the Oro Cruz Property in full and final settlement of the total advances of $440,000 to Mr. Ronald K. Netolitzky and two other companies controlled by Mr. Ronald K. Netolitzky.

QUEBEC, CANADA

Shawinigan Property – In April 2021, the Company announced that it has entered into an option agreement to acquire a 100% interest in the Shawinigan property located in the southern part of the Province of Quebec. The property was explored during 1971-75 with five work programs that encountered low to medium grade nickel/copper mineralization. Several drill holes intersected Ni/Cu mineralization at a shallow depth. Further drilling between existing holes was recommended, but work was never undertaken. In 2016 helicopter EM/MAG survey were completed identifying electromagnetic conductors in three cluster areas. Cobalt was also identified on the property. The Shawinigan property has exploration potential as past exploration has only covered a small portion of the property.  

In addition to making cash payments related to the option agreement, Lincoln must incur $2 million in exploration expenditures on the Shawinigan property over the course of 5 years to earn a 100% interest in the property (see news release April 22, 2021).

TECHNICAL DISCLOSURE

Mr. Joseph Sawyer, P.E., President of the Company’s two U.S. Subsidiaries and Micheal Attaway, COO and Vice President Operations, supervise the Company's exploration programs and operations in the United States.  Mr. Paul Saxton, P. Eng. President of Lincoln Gold Mining Inc., and Mr. Joseph Sawyer are the Company's "Qualified Person" for the purpose of NI 43-101 "Standards of Disclosure for Mineral Projects". Mr. Saxton has reviewed and is responsible for the technical disclosure contained in this section of the Company's website.