Lahontan Gold Corp. has mobilized a track-mounted MPD-1500 reverse-circulation drill rig to its flagship Santa Fe Mine project in Nevada's Walker Lane region. This equipment augments the diamond drill currently operating onsite, marking a significant expansion of the company's exploration activities. The deployment follows approval of Lahontan's exploration Plan of Operations, which permits more than 700 additional drill holes at the property.
The new rig will focus on under-explored areas of the Santa Fe Mine project, supporting the company's objective of restarting gold and silver production at the site in 2027. Management emphasized that this expanded drilling program also advances broader district-scale exploration potential, indicating confidence in the property's long-term value beyond immediate production targets. The technical content of the announcement was reviewed and approved by Michael Lindholm, CPG, an Independent Consulting Geologist to Lahontan Gold Corp. and a Qualified Person as defined in National Instrument 43-101.
The Santa Fe Mine project encompasses 26.4 square kilometers and has a history of past production totaling 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing. According to a Canadian National Instrument 43-101 compliant resource estimate, the property contains an 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 detailed in the "Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project" available on the company's website and SEDAR+.
For investors seeking additional information, the latest news and updates relating to Lahontan Gold Corp. are available in the company's newsroom at http://ibn.fm/LGCXF. The company plans to continue advancing the Santa Fe Mine project toward production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. This strategic expansion of drilling capacity represents a tangible step toward realizing the property's substantial mineral resources and returning the historic mine to production status.
The mobilization of additional drilling equipment has implications for the mining sector, particularly in Nevada's established Walker Lane mineral belt. Successful exploration and development at Santa Fe could contribute to regional economic activity and demonstrate the viability of revisiting historic mining districts with modern exploration techniques. For stakeholders, this development signals progress toward resource conversion and potential future production, which could impact the company's valuation and the broader junior mining sector. The expanded drilling program represents a commitment to systematic exploration that may yield new discoveries while de-risking the path toward production restart.
