Project to mine up to $8B worth of gold one step closer to reopening in Mariposa County

A historic gold mine potentially worth billions is one step closer to restarting operations in Mariposa County.

Lode Gold Resources Inc., the Canadian-based gold mining company behind the operation, announced Monday that they have commenced engineering studies.

“The initiation of engineering technical study marks the next stage of technical advancement at Fremont [Gold Mine],” Wendy T. Chan, CEO and director of Lode Gold, said. “The objective is to establish a clear technical baseline, identify priority work programs, and support upcoming PFS, engineering, mine planning, and economic studies for the upcoming mine plan development.”

According to Lode Inc., that shouldn’t take too long because of the extensive historical infrastructure (and long history of success) the mine already has.

Miners started extracting from the Fremont Mine in the 1850s, travelling from across the nation to get their piece of the gold rush. It was in use until mining was halted in 1942. 

According to Lode Inc.’s estimates, 89% of the ounces were left unmined, including an inferred 1,978,568 oz of gold. That’s roughly $8.21 billion per July 2026 estimates.

While no exact date was given for the mine’s reopening, the company says it is expected in the “near-term.”

Lode Inc. is also leading mining operations in Yukon, New Brunswick, and Ontario.

This is at least the second large-scale gold mining operation planned for the county. In 2025, Blue Moon Metals announced it received federal approval to mine zinc, gold, silver, and copper.

While no exact date was given for the mine’s reopening, the company says it is expected in the “near-term.”

Lode Inc. is also leading mining operations in Yukon, New Brunswick, and Ontario.

This is at least the second large-scale gold mining operation planned for the county. In 2025, Blue Moon Metals announced it received federal approval to mine zinc, gold, silver, and copper.