Lac Gold (ASX:LAC) has completed the acquisition of the historic Golden Patricia Gold Mine in Ontario, Canada, following consent from the Ontario Ministry of Mines.
The final documentation completed on Friday 5 June 2026 in Toronto secures a 100% ownership of the Golden Patricia Property through the company’s wholly owned Canadian subsidiary, Ardiden Canada.
The acquisition consolidates Lac Gold’s position within the Pickle Lake Gold District and provides control of a significant ‘high-grade’ gold system.
Between 1988 and 1997, the Golden Patricia Mine produced 619,796 ounces of gold at an average head grade of 16.48 grams per tonne before operations ceased amid a prolonged low gold price of US$331 ($469.64) per ounce.
Barrick Mining retains a 2% net smelter return royalty, providing ongoing exposure to future exploration and development success at the property.
Managing Director Andrew Stocks says the ministerial consent and completion of the transfer process represent the ‘final milestone’ in securing Golden Patricia.
“Golden Patricia … provides exposure to a mineralised corridor that remains highly prospective for extensions to the historic mine and new discoveries,” Stocks adds.
The company’s focus now turns to integrating historical geological, geophysical, and mining datasets into its regional database and geological models.
Initial work will prioritise drill targets focused on down-dip and along-strike extensions of the historic high-grade vein system.
The Golden Patricia Mine site is located in the Traditional Territories of the Cat Lake First Nation, Slate Falls Nation, and Mishkeegogamang Ojibway Nation, with whom the company will continue to engage for future exploration activities.
Lac Gold is also advancing the Rouyn Gold Project in Québec, where the company recently announced ‘high-grade’ gold intersections, including 1,580 g/t gold over 0.5m, as previously reported by Mining.com.au.
Write to JC Villarba at Mining.com.au
Images: Lac Gold
