Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) announced plans to drill test the historic Santa Fe East Waste Rock Storage Facility (WRSF) at its flagship Santa Fe Mine Project in Nevada’s Walker Lane. The proposed program consists of up to 100 reverse-circulation drill holes averaging approximately 35 meters in depth, targeting an estimated 9 million tonnes of waste rock generated during mining operations between 1988 and 1992. With a historic mining cutoff grade of approximately 0.55 grams per tonne gold, the company believes material previously classified as waste may contain recoverable gold and silver mineralization suitable for heap leach processing.
The drill program will evaluate the distribution, tonnage and precious metal grades of the stored material to assess its potential contribution to future production. Lahontan noted that its recently announced preliminary economic assessment (PEA) already includes moving the Santa Fe East WRSF to access underlying gold and silver resources. Recovering precious metals from this material could provide an additional source of production early in the mine life and potentially improve the economics of the Santa Fe development plan. The full press release is available at https://ibn.fm/i8rBZ.
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’s flagship property, the 26.4 km2 Santa Fe Mine project, 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. The Santa Fe Mine 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 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. 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 more information, visit www.lahontangoldcorp.com.
The announcement matters because it could extend the mine’s production profile and enhance returns from a project that already hosts significant resources. By targeting waste rock, Lahontan may unlock value from material that was previously considered uneconomic, potentially adding a low-cost source of feedstock for heap leach processing. This approach aligns with broader industry trends toward maximizing resource recovery and minimizing waste. The latest news and updates relating to LGCXF are available in the company’s newsroom at http://ibn.fm/LGCXF.
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