Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has reported the first drill results from its 2026 exploration program at the Santa Fe Mine Project in Nevada, including the discovery of a previously unrecognized gold zone west of the Slab open pit. The new “Slab West” zone returned multiple mineralized intercepts, including 35.0 meters grading 0.34 g/t gold equivalent and 61.0 meters grading 0.26 g/t gold equivalent, and remains open in all directions, suggesting significant expansion potential.
In addition to the Slab West discovery, Lahontan reported that geotechnical drill hole CAL26-02C intersected 90.8 meters grading 0.44 g/t gold equivalent below the current Calvada resource pit shell, including 12.3 meters grading 1.22 g/t gold equivalent. These results further support confidence in the project’s existing resource model as the company advances toward permitting and a targeted mine construction timeline in 2027.
The company stated that the Slab West discovery has the potential to add significant new gold resources at Santa Fe. The Santa Fe Mine project, Lahontan’s flagship property, spans 26.4 km² in the Walker Lane of Nevada 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.
According to the company’s NI 43-101 compliant technical report, the Santa Fe Mine has an 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. Au Eq is inclusive of recovery, as detailed in the Santa Fe Project Technical Report.
Lahontan Gold Corp. 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 company holds, through its US subsidiaries, four top-tier gold and silver exploration properties in mining-friendly Nevada.
The technical content of this 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. The full press release is available at https://ibn.fm/PM6A8. For more information about Lahontan Gold Corp., visit www.lahontangoldcorp.com.
These developments are significant for the mining industry as they underscore the potential for resource expansion at historically producing sites in Nevada, a jurisdiction known for its mining-friendly policies. The discovery of the Slab West zone could extend the life of the Santa Fe project and enhance its economic viability as Lahontan moves toward a construction decision in 2027. Investors and stakeholders will be watching closely as further drilling results are released.
