Lahontan Gold Corp. Secures BLM Approval for Expanded Drilling at Santa Fe Mine
TL;DR
Lahontan Gold Corp secures BLM approval to expand drilling at Santa Fe Mine, offering investors a strategic advantage in accessing untapped gold and silver resources.
The approved amendment allows Lahontan Gold Corp to conduct new drill tests on federal claims, targeting extensions in the Slab and York zones for resource assessment.
Expanding exploration at Santa Fe Mine could lead to sustainable mining practices, contributing to local economies and advancing responsible resource development in Nevada.
Lahontan Gold Corp's drilling expansion at Santa Fe Mine unveils potential for significant gold and silver discoveries, marking an exciting phase in mineral exploration.
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Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has achieved a pivotal milestone with the U.S. Bureau of Land Management's approval to expand drilling operations at its Santa Fe Mine project in Nevada's Walker Lane trend. This approval allows the company to explore new drill sites on unpatented federal claims, targeting extensions of known gold and silver resources in the Slab and York zones. With Phase One drilling already in progress and assays anticipated soon, this development could significantly enhance the project's resource base.
The Santa Fe Mine project, with a history of substantial gold and silver production, holds a compliant Indicated Mineral Resource of 1,539,000 oz Au Eq and an Inferred Mineral Resource of 411,000 oz Au Eq. The expansion of drilling activities not only underscores the potential for further resource discovery but also reinforces Lahontan Gold Corp.'s commitment to advancing the project towards production. This move is critical for the company's strategy to update the Santa Fe Preliminary Economic Assessment and test its satellite West Santa Fe project in 2025.
For the mining industry and investors, this approval signifies a step forward in the exploration and development of precious metals resources in a mining-friendly jurisdiction. The potential increase in resource estimates could have positive implications for the local economy and the global supply of gold and silver, commodities that remain in high demand for both investment and industrial uses.
Curated from InvestorBrandNetwork (IBN)
