Lahontan Gold Corp. has mobilized a Super 90 track-mounted core drill rig to its flagship Santa Fe Mine Project in Nevada's Walker Lane region. This drilling program is part of the company's ongoing mine development and state-level permitting efforts. The core drilling focuses on two key objectives: collecting samples for waste rock geochemical characterization and further defining groundwater distribution in areas proposed for open pit mining. Both components are essential for the permitting process required to advance the project toward production.
The company expects the data generated from this drilling program to support its plans for resuming open pit mining and heap leach processing at Santa Fe. Lahontan Gold aims to remain on schedule to break ground at the project in 2027. The Santa Fe Mine project covers 26.4 square kilometers and has a history of past production, yielding 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 through open pit mining and heap-leach processing.
According to the company's technical disclosure, the Santa Fe Mine currently has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 ounces of gold equivalent and an Inferred Mineral Resource of 411,000 ounces of gold equivalent. These resources are pit-constrained and include both gold and silver mineralization. The technical content of the company's disclosure has been reviewed and approved by Michael Lindholm, CPG, an Independent Consulting Geologist who serves as a Qualified Person as defined in National Instrument 43-101.
For investors seeking additional information, the company maintains resources online including its website at https://www.lahontangoldcorp.com and a technical report available through regulatory filings. The "Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project" provides detailed information about the project's mineral resources and economic potential. Mineral resources are reported using specific cut-off grades and assumptions including a gold price of US$1,950 per ounce and silver price of US$23.50 per ounce.
The mobilization of drilling equipment represents a significant step forward for Lahontan Gold's development timeline. The data collected will inform both environmental permitting requirements and mine planning decisions. Successful completion of this phase could position the company to advance toward production at a time when gold prices remain strong and demand for precious metals continues in global markets. The Santa Fe Mine project's location in mining-friendly Nevada provides regulatory stability, while its historical production record demonstrates the property's mineral potential.
Beyond the Santa Fe Mine project, Lahontan Gold holds three additional gold and silver exploration properties in Nevada's Walker Lane region. The company plans to continue advancing the Santa Fe Mine project toward production while also updating the Santa Fe Preliminary Economic Assessment and conducting drill testing at its satellite West Santa Fe project during 2025. These concurrent activities demonstrate the company's multi-faceted approach to resource development in one of North America's most productive mining districts.
