Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) is advancing its Santa Fe project with new drilling results and the start of a preliminary economic assessment (PEA) update, reinforcing the potential for resource expansion and improved project economics. The company recently reported initial assays from its maiden reverse-circulation drilling at the satellite West Santa Fe project, located approximately 13 kilometers from the main Santa Fe Mine project. The first of six drill holes, totaling 593 meters, returned shallow oxide gold mineralization, validating the historical database and supporting future resource estimation work.
Management explicitly tied the drilling to an investor-relevant milestone: validating the historical database for future resource estimation work. The company has retained RESPEC Company LLC and Kappes, Cassiday & Associates to update the Santa Fe Mine Project technical report, which will include an updated mineral resource estimate and PEA. This systematic approach aims to convert historical data into current resources and provide a clearer economic picture.
Repeatable, shallow oxide drill success and a clear path to updated economics can be the combination that moves a gold developer from story to strategy for investors. The near-surface results from West Santa Fe suggest potential for resource growth, while the formal update process for the project’s mineral resource estimate and PEA provides a roadmap for demonstrating viability. The Santa Fe project, located in the Walker Lane trend of Nevada, has a history of gold production and remains underexplored, offering upside through both resource expansion and optimization of processing methods.
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