A more thorough explanation:

A lode claim is a type of mining claim that refers to a parcel of land containing precious metal in its soil or rock. It is appropriated by a person according to established rules and customs known as the process of location. There are two types of mining claims: lode claim and placer claim.

A lode claim is a mining claim on public land to a well-defined vein embedded in rock. It is a mining claim to a mineral lode. For example, a person can stake a lode claim on a vein of gold or silver found in a rock formation.

A placer claim is a mining claim that is not a lode claim. It is a claim where the minerals are not located in veins or lodes within rock, but are usually in softer ground near the earth's surface. For example, a person can stake a placer claim on a deposit of gold found in a riverbed.

It is important to note that the distinction between lode and placer claims must be tempered by scientific findings as to the nature of the mineral deposits under consideration and the practicalities of modern mining methods, which may permit the use of surface mining methods to remove certain lodes or veins of minerals previously only reached by underground methods.

Overall, a lode claim is a type of mining claim that refers to a parcel of land containing precious metal in its soil or rock, while a placer claim is a mining claim where the minerals are not located in veins or lodes within rock, but are usually in softer ground near the earth's surface.