Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) announced 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 company update. The results, once assays are returned, will inform the company’s planning as it advances the projects into 2027.
At the flagship Santa Fe Mine, the company completed 11,565 meters across diamond core, sonic core and reverse-circulation (RC) drilling programs. Highlights 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.
At West Santa Fe, Lahontan 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. The company 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 pending assays are critical because they will determine whether the mineralization outlined to date can be expanded and potentially converted into resources, a key step for a company aiming to move its Santa Fe project toward production.
Lahontan Gold is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Its flagship 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 project 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.
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 investors, the pending assay results represent a potential catalyst that could affect the company’s resource base and development timeline. The news matters for the broader mining sector because it underscores ongoing exploration activity in Nevada’s Walker Lane, a prolific jurisdiction for gold and silver, at a time when elevated exploration activity is causing delays in assay turnaround.
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 full press release is available at https://nnw.fm/sjPvj.
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