Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) reported new assay results from its 2025 Phase Two reverse-circulation drilling program at the flagship Santa Fe Mine Project in Nevada's Walker Lane region. The results highlight expanded oxide gold and silver mineralization at the Slab pit area beyond the current mineral resource estimate pit shell, with two additional drill holes showing significant intercepts.
The drilling program yielded results including 68.6 meters grading 0.45 g/t gold equivalent and 41.2 meters grading 0.32 g/t gold equivalent. These findings extend shallow mineralization to the south, west, and at depth, providing important geological data that supports the company's plans to update both the mineral resource estimate and preliminary economic assessment. The expanded mineralization could potentially increase the project's economic viability and resource base.
This development is significant for the mining industry as it demonstrates continued exploration success in Nevada's established mining districts. The Santa Fe Mine project already has a substantial resource base, with 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 announcement 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 company plans to continue advancing the Santa Fe Mine project toward production while updating the Santa Fe Preliminary Economic Assessment and drilling its satellite West Santa Fe project during 2025. These results come at a critical time as the company advances permitting efforts later this year, potentially accelerating the timeline toward production. For more detailed technical information, readers can refer to the full press release and the company's technical disclosure documents.
The implications of these findings extend beyond Lahontan Gold to the broader mining sector in Nevada, where successful exploration results can attract additional investment and development in the region. The Walker Lane area has historically been productive for gold and silver mining, with the Santa Fe Mine itself having past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995. Updated resource estimates based on these new findings could potentially enhance the project's economic profile and contribute to Nevada's position as a leading mining jurisdiction.
