Lahontan Gold Corp. Mobilizes Drill Rig for Fall 2025 Program at Nevada's Santa Fe Mine
TL;DR
Lahontan Gold's drilling program aims to upgrade resources, potentially increasing asset value and positioning the company for mine planning and future production.
Lahontan Gold is using a track-mounted reverse-circulation drill rig to complete 25 holes totaling 4,000 meters to upgrade inferred resources to indicated category.
This drilling campaign advances responsible mineral development in Nevada, potentially creating future jobs and contributing to sustainable resource extraction practices.
Lahontan Gold is drilling at its historic Santa Fe Mine, which previously produced over 359,000 ounces of gold using heap-leach processing methods.
Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has mobilized a track-mounted reverse-circulation drill rig and crew to its flagship Santa Fe Mine project in Nevada's Walker Lane district. The MPD-1500 rig will complete up to 25 drill holes totaling 4,000 meters, with the program focused on upgrading gold and silver resources from the Inferred to Indicated category and expanding overall resources at the Slab and York areas.
Executive Chair, Founder, and CEO Kimberly Ann described the program as vital as the company pivots from resource definition to mine planning and permitting in 2026. Vice President of Exploration Brian Maher is overseeing the drill campaign, which represents a significant advancement for the project. The Santa Fe Mine project covers 26.4 km2 and had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing.
The Santa Fe Mine currently has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 tonnes grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained. The technical content of the company's disclosure has been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., who is a Qualified Person as defined in National Instrument 43-101.
The company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. The full technical details are available in the Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project, which can be accessed through the company's regulatory filings. For additional information about the company's operations and technical reports, investors can visit https://ibn.fm/ZALOm.
This drilling program represents a crucial step in the development timeline of the Santa Fe Mine project. The transition from resource definition to mine planning and permitting signifies the project's maturation and brings it closer to potential production. The upgrade of resources from Inferred to Indicated category provides greater confidence in the economic viability of the deposit, which could significantly impact the company's valuation and attractiveness to investors.
The mining industry in Nevada continues to be a significant contributor to the state's economy and the broader North American gold production landscape. Successful resource expansion and eventual mine development at Santa Fe could create employment opportunities, generate local economic benefits, and contribute to domestic gold and silver production. The Walker Lane district has historically been a productive mining region, and continued investment in exploration and development helps maintain Nevada's position as a premier mining jurisdiction.
Curated from InvestorBrandNetwork (IBN)