Lahontan Gold Corp. Expands Santa Fe Mine Project with Acquisition of Adjacent York Claims
TL;DR
Lahontan Gold's acquisition of York Claims expands its Santa Fe Mine Project, potentially increasing mineral resources and enhancing shareholder value through strategic growth.
Lahontan Gold acquired 27 unpatented lode mineral claims adding 2.1 square kilometers to the Santa Fe Mine Project based on Preliminary Economic Assessment data.
This expansion supports sustainable mining development in Nevada, contributing to local economies and responsible resource extraction for future generations.
Lahontan Gold's new claims reveal gold-silver mineralization extending southward, adding excitement to Nevada's rich mining history and exploration potential.
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Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) has signed a binding term sheet on August 18, 2025, to acquire 27 unpatented lode mineral claims known as the York Claims from Emergent Metals Corp. This acquisition adds approximately 2.1 square kilometers of mineral rights to the Santa Fe Mine Project, adjoining the site immediately south and southeast of the York open pit and gold resource. The transaction is significant as a recent Preliminary Economic Assessment indicated that gold-silver mineralization extends toward the York Claims, suggesting potential for resource expansion.
The deal is expected to allow for the expansion of the York open pit and could potentially increase mineral resources in the area. This development is crucial for Lahontan Gold Corp., which holds four top-tier gold and silver exploration properties in Nevada's Walker Lane region. The Santa Fe Mine project, the company's flagship property, has a history of past production, with 359,202 ounces of gold and 702,067 ounces of silver extracted between 1988 and 1995 from open pit mines using heap-leach processing.
According to the technical report available at https://ibn.fm/z1pem, the Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 ounces of gold equivalent and an Inferred Mineral Resource of 411,000 ounces of gold equivalent. The company plans to continue advancing the Santa Fe Mine project towards production, update the Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. The technical content of the news release was reviewed and approved by Michael Lindholm, CPG, an Independent Consulting Geologist and Qualified Person as defined in National Instrument 43-101.
This acquisition underscores the strategic importance of consolidating land holdings in mining operations to maximize resource potential and operational efficiency. For investors and the mining industry, it highlights ongoing efforts to expand viable mineral resources in mining-friendly jurisdictions like Nevada, which could lead to increased production and economic benefits. The move may also influence market perceptions of Lahontan Gold Corp.'s growth trajectory and resource base, potentially impacting its stock performance and investor confidence in the junior mining sector.
Curated from InvestorBrandNetwork (IBN)
