Lahontan Gold's Santa Fe Mine Exploration Plan Advances Through Federal Environmental Review
TL;DR
Lahontan Gold's expedited NEPA review and funding agreement positions the company to rapidly advance its Santa Fe Mine Project, creating a competitive advantage in gold and silver resource expansion.
Lahontan Gold's Exploration Plan of Operations enters NEPA review with a completed draft Environmental Assessment, while a Contributed Funds Agreement supports additional BLM personnel for efficient processing.
Lahontan Gold's responsible mining approach through proper environmental review processes supports sustainable resource development that can benefit local economies and mineral supply chains.
Lahontan Gold plans to drill over 700 holes at its Santa Fe Mine Project, which previously produced 359,202 ounces of gold between 1988 and 1995.
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Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) has reached a significant regulatory milestone as its Exploration Plan of Operations for the Santa Fe Mine project entered National Environmental Policy Act review by the U.S. Bureau of Land Management. The company anticipates the review process will move quickly, noting that a draft Environmental Assessment has already been completed, potentially accelerating the timeline for project advancement.
The company has taken additional steps to facilitate the review process by signing a Contributed Funds Agreement to provide funding for additional BLM personnel. This strategic move could expedite the federal review, demonstrating Lahontan Gold's commitment to advancing the Santa Fe Mine project efficiently while maintaining regulatory compliance. The exploration plan supports staged drilling of more than 700 holes at the Nevada-based project, which CEO Kimberly Ann stated would enhance opportunities to expand gold and silver resources and future mining potential.
The Santa Fe Mine project represents a substantial mineral resource with 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 project's historical significance is underscored by 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. Technical information about the project is available in the company's technical documentation.
This regulatory advancement comes as the company plans to continue moving the Santa Fe Mine project toward production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. The technical content of the company's disclosures has been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., who serves as a Qualified Person as defined in National Instrument 43-101. Additional corporate information and updates are accessible through the company's newsroom.
The progression of Lahontan Gold's exploration plan through NEPA review represents an important development for the mining sector, particularly given the project's location in the mining-friendly Walker Lane region of Nevada. The successful advancement of this review process could signal increased mining activity in the region and contribute to domestic gold and silver production capabilities. For investors and industry observers, the expedited review timeline supported by the Contributed Funds Agreement demonstrates a proactive approach to regulatory compliance that could serve as a model for other mining companies navigating federal environmental review processes.
Curated from InvestorBrandNetwork (IBN)
