Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has reported additional results from its 2026 drilling program at the Santa Fe Mine Project in Nevada, revealing a new gold discovery and expanding the known mineralization at the site. The company announced that drill hole CAL26-11R returned 13.7 meters grading 1.10 g/t gold equivalent (Au Eq), marking the first significant gold mineralization hosted within Tertiary volcanic rocks along the Summit Fault. This establishes a new exploration target for the company.
Additionally, drill hole CAL26-12R intersected 12.2 meters grading 1.26 g/t Au Eq near the base of the current resource pit shell at the Calvada East area, highlighting high-grade oxide mineralization. The company also reported broad intervals of shallow oxide gold and silver mineralization at the Slab West exploration target, with drill holes CAL26-13R and CAL26-15R intersecting 35.1 meters grading 0.21 g/t Au Eq and 18.3 meters grading 0.22 g/t Au Eq, respectively.
Management stated that these results reinforce the district's exploration potential beyond its current resource base. Slab West remains open in multiple directions, and additional assay results from recently completed drill holes are expected shortly. The Santa Fe Mine project, which has a history of past production, holds 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) 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), 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 this 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.
These new discoveries could significantly impact the company's valuation and the broader mining sector in Nevada's Walker Lane, a region known for its gold and silver deposits. The confirmation of additional mineralization at Santa Fe suggests that the project may have a longer mine life and higher production potential than previously estimated. For investors, this news is a positive indicator of the project's growth prospects.
For more information, visit the company's website at www.lahontangoldcorp.com. The full press release is available at https://ibn.fm/UQWit. The latest news and updates relating to LGCXF are available in the company's newsroom at http://ibn.fm/LGCXF.
