Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has reported new assay results from its 2025 Phase Two reverse-circulation drilling program at the flagship Santa Fe Mine Project in Nevada's Walker Lane region. The results highlight expanded oxide gold and silver mineralization at the Slab pit area beyond the current mineral resource estimate pit shell, with two additional drill holes showing significant mineralization.
The drilling results included 68.6 meters grading 0.45 g/t gold equivalent and 41.2 meters grading 0.32 g/t gold equivalent. These findings extend shallow mineralization to the south, west, and at depth, providing important geological data that supports the company's plans to update the mineral resource estimate and preliminary economic assessment. The expanded mineralization also advances permitting efforts scheduled for later this year.
The Santa Fe Mine project represents a significant gold and silver resource in mining-friendly Nevada. According to the company's technical disclosure, the property 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 news release 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.
For investors seeking additional information about the company's developments, the latest news and updates relating to LGCXF are available through various channels. The company maintains detailed technical documentation, including the "Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project" which is available on the company's website and through regulatory filings. Mineral resources in the report are calculated using specific parameters including a cut-off grade of 0.15 g/t AuEq for oxide resources and 0.60 g/t AuEq for non-oxide resources, with gold equivalent calculations based on assumed metal prices and recovery rates.
The Santa Fe Mine project has historical significance in the region, with 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 current drilling program builds upon this historical production while expanding the known mineralization. The company plans to continue advancing the Santa Fe Mine project toward production throughout 2025, including updating the Santa Fe Preliminary Economic Assessment and conducting drill testing at its satellite West Santa Fe project.
These developments occur within the broader context of the mining industry's focus on Nevada's Walker Lane region, known for its mineral-rich geology and established mining infrastructure. The expansion of known mineralization at established projects like Santa Fe contributes to the region's continued importance in domestic mineral production. For comprehensive coverage of mining sector developments, specialized communications platforms like https://www.MiningNewsWire.com provide industry-focused reporting and analysis.
