Lac Gold Completes Full Acquisition of Golden Patricia Gold Mine
Lac Gold has completed its acquisition of the historic Golden Patricia Gold Mine in Ontario, gaining full ownership of a prolific high-grade gold corridor and setting the stage for district-scale exploration.
- Acquisition finalised with Ministerial consent
- Historic production of 619,796oz at 16.48g/t gold
- Barrick retains 2% net smelter return royalty
- Consolidates position in Pickle Lake gold district
- Exploration program targeting extensions and new veins
Full Control of Golden Patricia Property Secured
Lac Gold Limited (ASX:LAC) has completed its acquisition of the Golden Patricia Gold Mine and surrounding leases in Ontario, Canada, following receipt of Ministerial consent from the Ontario Ministry of Mines. The formal transfer of legal title was executed on 5 June 2026, marking the final step in securing 100% ownership through its wholly owned subsidiary, Ardiden Canada Ltd.
This move consolidates Lac Gold’s foothold in the Pickle Lake Gold District, a region renowned for its high-grade gold deposits. The historic Golden Patricia Mine alone produced 619,796 ounces of gold at a remarkable average grade of 16.48 grams per tonne before closing in the late 1990s amid a prolonged period of low gold prices around US$331 per ounce.
Strategic Corridor with Exploration Upside
By securing the central leases, Lac Gold now controls a contiguous mineralised corridor that extends at least 3.3 kilometres along the Golden Patricia vein system. This quartz-sulphide vein system has significant potential for resource growth, with multiple high-priority targets identified for exploration, including down-dip and along-strike extensions, parallel veins, and under-explored structural zones.
The acquisition also includes a 2% net smelter return royalty retained by Barrick Mining Corporation, which maintains exposure to any future development success on the property. This arrangement allows Lac Gold to fully operate the asset while Barrick benefits from ongoing exploration upside.
Advancing Exploration and Integration
With ownership formalised, Lac Gold's immediate focus shifts to integrating historical geological, geophysical, and mining datasets into its regional database and refining geological models. The company plans to prioritise drill targets aimed at expanding the known high-grade vein system and exploring new discovery opportunities across the district-scale tenure.
This exploration push will run alongside ongoing work at Lac Gold’s Rouyn Gold Project in Québec, where recent drilling has revealed exceptional high-grade gold intersections, including a standout 0.5-metre intercept grading 1,580g/t gold, underscoring the company’s growing pipeline of high-quality assets.
Community Engagement and Environmental Stewardship
The Golden Patricia site lies within the Traditional Territories of the Cat Lake First Nation, Slate Falls Nation, and Mishkeegogamang Ojibway Nation. Lac Gold has committed to ongoing engagement with these communities as it advances exploration activities, reflecting a broader emphasis on responsible development and strong local partnerships.
Bottom Line?
The acquisition positions Lac Gold to unlock value from a historically prolific high-grade gold corridor, with exploration poised to test extensions and new targets that could reshape its resource base.
Questions in the middle?
- How will Lac Gold prioritise drilling targets within the newly consolidated Golden Patricia corridor?
- What timeline can investors expect for updated resource estimates following exploration?
- How will the 2% NSR royalty to Barrick influence future project economics and development decisions?
