Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) announced that it has completed 13,334 meters of drilling year to date at its Santa Fe Mine and West Santa Fe projects in Nevada’s Walker Lane, according to a press release disseminated on behalf of Lahontan Gold Corp. The drilling campaign is a key step in the company’s efforts to advance its flagship Santa Fe Mine toward production and test satellite targets.
At the Santa Fe Mine, Lahontan completed 11,565 meters across diamond core, sonic core and reverse-circulation (“RC”) drilling programs. Notable intercepts include 90.8 meters grading 0.43 grams per tonne (“g/t”) gold at Calvada Central, 9.9 meters grading 2.40 g/t gold and 50.7 g/t silver in the Low-Grade Stockpile, and 35 meters grading 0.29 g/t gold and 4.5 g/t silver at the newly discovered Slab West mineralized zone. Assay results remain pending for 85 sonic core holes and 17 RC holes, which could provide further definition of these zones.
At West Santa Fe, the company has completed nine of 19 planned RC drill holes, totaling 1,769 meters of a planned 3,275-meter program designed to evaluate resources and explore extensions of known gold and silver mineralization. All samples have been submitted for analysis, with results delayed by elevated exploration activity in Nevada. Lahontan expects additional assay results in the coming months and plans to return its RC drill rig to Santa Fe following completion of the West Santa Fe program.
Founder, Chair, CEO and President Kimberly Ann said results from the historic heap leach pads, Slab West discovery and West Santa Fe will be important as Lahontan advances its projects into 2027. The company’s flagship Santa Fe Mine project, covering 26.4 km2, 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. It has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq and an Inferred Mineral Resource of 411,000 oz Au Eq, all pit constrained.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. 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. For more information, visit www.lahontangoldcorp.com. The latest news and updates relating to LGCXF are available in the company’s newsroom at http://nnw.fm/LGCXF.
The announcement is significant for investors and the mining industry because the pending assay results could expand known mineralization and support the economic case for restarting production at Santa Fe. The historic production and existing resources underscore the project’s potential, while the West Santa Fe program could add satellite resources. However, the delay in assay results due to elevated exploration activity in Nevada highlights the competitive environment and potential timing risks. As Lahontan advances toward a preliminary economic assessment update, the results will be closely watched for their impact on the company’s valuation and development timeline.
For full details, view the complete press release at https://nnw.fm/sjPvj. The release was distributed by NetworkNewsWire, a specialized communications platform focused on financial news and content distribution. NetworkNewsWire is one of 75+ brands within the Dynamic Brand Portfolio @ IBN, which provides wire solutions via InvestorWire and other services. Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: https://www.NetworkNewsWire.com/Disclaimer.
