Nine Holes. Nine Hits. A South Dakota Gold Discovery That's Just Getting Started

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Wednesday, April 8, 2026

Gold exploration continues to heat up as rising prices and tightening global supply push companies to aggressively define new resources. In today's market, early-stage discoveries that demonstrate both scale and consistency are drawing increased attention, especially when they hint at bulk-tonnage potential and room to run.

Shares of Lion Rock Resources Inc. (TSX-V: ROAR) (OTCQB: LRRIF) are moving higher Wednesday after the company announced a new gold discovery at its Volney Project in South Dakota's Black Hills. ROAR is up 11.1% to C$0.25 and LRRIF is gaining 7.4% to $0.179.

Phase 1 drilling has identified multiple distinct gold-mineralized zones across the property, with all nine drill holes returning gold mineralization, a 100% hit rate. The results outline a system currently spanning approximately 500 meters in strike length, 400 meters in width, and extending to a depth of 200 meters. All zones remain open in every direction.

Grade distribution adds to the case. Higher-grade intervals are consistently nested within broader mineralized zones, a structure that can be significant for resource development. Highlights include 10.9 meters grading 2.0 g/t gold within a wider 24.8-meter interval at 0.8 g/t, and 4.6 meters at 2.1 g/t within a 36.5-meter interval. One hole returned 2.1 meters grading 5.0 g/t and another hit 1.6 meters at 4.1 g/t, demonstrating that high-grade pockets exist within the broader system.

Multiple holes also intersected stacked mineralized zones at varying depths, indicating continuity throughout the system. That layered profile is typically viewed as a positive indicator for future resource expansion.

Near-surface geometry adds another dimension. The company noted that the mineralization's position and structure could be conducive to lower-cost, bulk-tonnage mining methods, a meaningful consideration for early-stage economics.

Phase 1 drilling focused on just one high-priority target area across the broader Volney property. Additional zones remain largely untested, and critical mineral assays for several holes are still pending, leaving multiple potential catalysts ahead.

"This new gold discovery at Volney is a transformational result for Lion Rock," said CEO Dale Ginn. He also flagged that this gold discovery sits within the same property hosting a recently confirmed critical mineral system containing multiple U.S. critical minerals, calling Volney's scale and multi-commodity diversity what sets it apart from single-commodity exploration plays.

That dual-commodity profile, gold on top of a critical mineral system, in a historically productive and mining-friendly jurisdiction, gives this story more layers than a standard early-stage drill result.

Shares of ROAR are ahead 11.1% to C$0.25, while LRRIF is up 7.4% to $0.179 in Wednesday trading.

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