Lahontan Gold Corp. has released initial analytical results from its 2025 Phase Two drilling program at the Santa Fe Mine Project in Nevada's Walker Lane region, reporting six reverse-circulation drill holes totaling 994 metres that delivered significant gold intercepts at both the York and Slab zones. The results indicate potential expansion of mineralization beyond current resource boundaries and could support deeper conceptual pit development.
The drilling highlights include a broad intercept of 114.3 metres grading 0.33 g/t gold equivalent at the York zone, which includes higher-grade mineralization of 18.3 metres grading 0.90 g/t gold equivalent. This mineralization extends north of the current resource pit shell, suggesting the potential for resource expansion in that direction. At the Slab zone, both shallow and deeper oxide gold intercepts were identified, which may support a deeper conceptual pit and additional resources in an updated Mineral Resource Estimate expected later this year.
These results are significant because they demonstrate the continued potential for resource growth at the Santa Fe Mine Project, which already contains substantial mineral resources. 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 technical content of the 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.
The implications of these drill results extend beyond immediate resource expansion. For investors and the mining industry, successful drilling programs like this one can increase project valuation and improve the economic viability of future mining operations. The Santa Fe Mine project has historical production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995, demonstrating the region's proven mineral endowment. 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 the broader mining sector, successful exploration results in established mining districts like Nevada's Walker Lane reinforce the potential for discovering additional resources near existing operations. This can lead to extended mine life, increased production, and continued economic benefits for local communities. The full technical details are available in the company's press release, and additional information about the company's technical disclosure can be found in the Preliminary Economic Assessment available through regulatory filings.
