Lahontan Gold Corp. has mobilized a Super 90 track-mounted core drill rig to its flagship Santa Fe Mine Project in Nevada's Walker Lane region as part of ongoing mine development and state-level permitting efforts. The core drilling program focuses on collecting samples for waste rock geochemical characterization and further defining groundwater distribution in areas proposed for open pit mining, both key components of the permitting process. The company expects the data generated to support its plans for the resumption of open pit mining and heap leach processing at Santa Fe, with the objective of remaining on schedule to break ground at the project in 2027.
The Santa Fe Mine project represents significant mineral resources with 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 technical disclosure, the property 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 technical content of the company's disclosure 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.
This drilling initiative matters because it represents a critical step toward reviving a previously productive mining operation in a mining-friendly jurisdiction. Nevada's Walker Lane region is known for its mineral wealth, and the successful permitting and development of the Santa Fe Mine could contribute to domestic gold and silver production at a time when precious metals remain important for both investment and industrial applications. The project's advancement through the permitting phase demonstrates the ongoing viability of previously mined properties when supported by modern exploration techniques and environmental assessment protocols.
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 seeking additional information, the latest news and updates relating to Lahontan Gold are available through various channels including the company's disclosures. The technical report detailing the project's resources, titled "Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project," is available through regulatory filings and provides comprehensive data on the mineral resources and economic assumptions underlying the project.
Successful completion of the current drilling program could have broader implications for the mining sector by demonstrating how previously operated mines can be systematically returned to production through careful environmental assessment and modern permitting processes. The data collected will inform both the technical and regulatory aspects of the project, potentially serving as a model for other mining companies seeking to develop or redevelop properties in regulated environments. The timeline targeting 2027 for groundbreaking suggests a multi-year process that balances thorough environmental review with commercial development objectives.
