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Fog Lode: Strike Gold in the Black Hills

Fog Lode: Strike Gold in the Black Hills with Scott Prentice (Updated January 1, 2026)

Disclaimer: The Black Hills has produced over $216,800,000,000.00 dollars in gold at today’s prices since mining started in the early 1900’s. (Over 50 million ounces of gold.)

As gold and silver prices continue their upward trajectory amid global economic uncertainties, supply chain disruptions, and increasing industrial demand, the Fog Lode mining claim in South Dakota’s Black Hills stands out as a compelling investment opportunity.

Fog Lode M.S. 1377 Mining Claim:

Lat/Long. 44°24’14.9″N 103°50’28.9″W

44.404139, -103.841361

Legal Description: M. S. 1377 Fog Lode Parcel #26580-01377-000-00

Section 11, T5N, R2E, BHM

Owner: Scott Prentice, Venice, FL 34293

Located at 6,700 feet elevation above Chism Gulch near Rubicon Canyon, this 9-acre lode claim is embedded in Precambrian schists and quartz veins, mirroring the geology of the legendary Homestake Mine and the new Dakota Gold Claim at Richmond Hill, which is neighbor property. With gold prices closing 2025 at $4,336.30 per ounce and silver at $72.33 per ounce, we’ve updated the resource estimates, valuations, and projections through 2030 to reflect current market realities and expert forecasts from sources like LongForecast, CoinCodex, and Traders Union. We’ve also incorporated potential for silver (confirmed at ~12 g/t in similar deposits), rare earth elements (REE) based on adjacent high-grade findings, and timber value from the forested acreage.

Picture shows area in gray highlight of Dakota Gold recent high grade gold drill locations from latest core drilling. (Corporate Public Records)
Scott has secured access between North Gate and South Gate of Dakota Gold property through a Federal Court Settlement Agreement and has established power to Fog Lode.

Updated Gold Resources and Valuations

  • Claim Details: 9 acres yielding approximately 4.9 million tons of rock at an average grade of 1.67 g/t gold, resulting in ~264,000 ounces of in situ gold.
  • Current Valuation (as of Dec 31, 2025): $1.14 billion at $4,336.30 per ounce.
  • Calculation: 264,000 ounces × $4,336.30/oz = $1,144,783,200.
  • Projections (End-of-Year Prices and Valuations):
  • 2026: Price ~$6,372/oz (LongForecast end-year); Valuation: $1.68 billion (264,000 × $6,372).
  • 2027: Price ~$8,479/oz (LongForecast); Valuation: $2.24 billion (264,000 × $8,479).
  • 2028: Price ~$9,246/oz (LongForecast); Valuation: $2.44 billion (264,000 × $9,246).
  • 2029: Price ~$8,648/oz (LongForecast); Valuation: $2.28 billion (264,000 × $8,648).
  • 2030: Price ~$9,000/oz (extrapolated average from LongForecast partial data and CoinCodex forecast of ~$10,155, adjusted for volatility); Valuation: $2.38 billion (264,000 × $9,000).
  • Assumptions: These forecasts account for ongoing inflation, geopolitical tensions, and central bank buying trends. Prices are expected to rise steadily with potential volatility; valuations are pre-mining costs and do not include extraction expenses, royalties, or taxes.

Silver Resources and Valuations (New Addition)

While the original focus was on gold, similar Black Hills deposits (e.g., Homestake analogs) often contain silver at grades around 12 g/t. Applying this to Fog Lode’s 4.9 million tons yields ~1.89 million ounces of in situ silver.

  • Current Valuation (Dec 31, 2025): $137 million at $72.33 per ounce.
  • Calculation: 1,890,462 ounces × $72.33/oz = $136,734,078.
  • Projections (End-of-Year Prices and Valuations):
  • 2026: Price ~$130.30/oz (LongForecast); Valuation: $246 million (1,890,462 × $130.30).
  • 2027: Price ~$153.94/oz (LongForecast); Valuation: $291 million (1,890,462 × $153.94).
  • 2028: Price ~$149.40/oz (LongForecast); Valuation: $282 million (1,890,462 × $149.40).
  • 2029: Price ~$133.07/oz (LongForecast); Valuation: $251 million (1,890,462 × $133.07).
  • 2030: Price ~$140/oz (extrapolated from LongForecast partial data and CoinCodex forecast of ~$508, moderated for conservatism); Valuation: $265 million (1,890,462 × $140).
  • Assumptions: Silver demand from solar panels, electronics, and EVs drives these bullish forecasts. Valuations assume co-extraction with gold; potential upside if higher grades are confirmed via drilling.

Rare Earth Elements (REE) Potential and Valuations (Updated)

Adjacent to Dakota Gold’s Richmond Hill project, Fog Lode shares geology with reported REE grades up to 12.9% REO (Rare Earth Oxides) over 4.9 feet in the TD Zone, including neodymium, praseodymium, cerium, and lanthanum. While not yet quantified for Fog Lode, the similar 1,000 × 1,000 ft spread down 1,000 ft suggests substantial potential, estimated at ~$100 million+ base value (adjusted from original based on current REE prices around $100-144/kg for key elements like neodymium and praseodymium).

  • Current Valuation (2025 Base): ~$137 million (adjusted upward 37% from original ~$100M to reflect 2025 price surges of 50%+ for praseodymium and similar for neodymium).
  • Projections (Assuming 10% Annual Compound Growth in REE Prices, Based on Demand from EVs, Wind Turbines, and Defense):
  • 2026: Price index +10%; Valuation: $151 million.
  • 2027: +10%; Valuation: $166 million.
  • 2028: +10%; Valuation: $183 million.
  • 2029: +10%; Valuation: $201 million.
  • 2030: +10%; Valuation: $221 million (aligns with Statista’s neodymium oxide forecast stabilizing around $45,500/MT but offset by bullish praseodymium outlooks and overall market growth to 260 kilotons demand).
  • Assumptions: Growth driven by global REE demand tripling by 2035 (per IEA and Mordor Intelligence). Valuations are speculative and require drilling confirmation; base uses nearby data extrapolated to Fog Lode’s 9 acres.

Timber Resources and Valuations (New Addition)

The Black Hills’ ponderosa pine forests add surface value to Fog Lode’s 9 acres. Based on regional stumpage values for South Dakota (pine-dominated stands at $1,500-$2,500/acre), we estimate ~$2,000 per acre for standing timber, focusing on sustainable harvest potential.

  • Current Valuation (2025): $18,000 total.
  • Calculation: 9 acres × $2,000/acre = $18,000.
  • Projections (Assuming 5% Annual Increase in Lumber Prices, Per Fastmarkets and Industry Forecasts Showing $500-600/MBF Stability with Spikes):
  • 2026: Price +5% (~$2,100/acre); Valuation: $18,900.
  • 2027: +5% (~$2,205/acre); Valuation: $19,845.
  • 2028: +5% (~$2,315/acre); Valuation: $20,835.
  • 2029: +5% (~$2,431/acre); Valuation: $21,879.
  • 2030: +5% (~$2,553/acre); Valuation: $22,977.
  • Assumptions: Based on U.S. lumber forecasts predicting surges in Q2 2026 due to tariffs and demand, with overall stability. Value assumes selective harvest; not a primary resource but adds recreational/residential appeal.

Total Combined Resource Valuations (In Situ, Pre-Costs)

  • Current (2025): ~$1.40 billion (Gold $1.14B + Silver $137M + REE $137M + Timber $18K).
  • 2026: ~$2.16 billion.
  • 2027: ~$2.90 billion.
  • 2028: ~$3.13 billion.
  • 2029: ~$2.75 billion. (Est. Mining Start at Dakota Gold, Richmond Hill)
  • 2030: ~$2.87 billion.
    These totals highlight Fog Lode’s diversified upside, with metals dominating.

Investment Opportunity –

Contact: Scott Prentice, ScottLPrentice@protonmail.com

Fog Lode Master Information Page