Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) has completed 13,334 meters of drilling year to date at its Santa Fe Mine and West Santa Fe projects in Nevada’s Walker Lane, the company announced. The drilling programs are designed to evaluate resources and explore extensions of known gold and silver mineralization, with assay results pending that could materially impact the company’s resource base and development timeline.
At the Santa Fe Mine, Lahontan completed 11,565 meters across diamond core, sonic core and reverse-circulation (“RC”) drilling programs. Highlights include 90.8 meters grading 0.43 grams per tonne (“g/t”) gold at Calvada Central, 9.9 meters grading 2.40 g/t gold and 50.7 g/t silver in the Low-Grade Stockpile, and 35 meters grading 0.29 g/t gold and 4.5 g/t silver at the newly discovered Slab West mineralized zone. These results are significant because they confirm high-grade mineralization and extend known zones, potentially adding to the project’s resource inventory. Assay results remain pending for 85 sonic core holes and 17 RC holes, which could further delineate mineralization.
At West Santa Fe, Lahontan has completed nine of 19 planned RC drill holes, totaling 1,769 meters of a planned 3,275-meter program. All samples have been submitted for analysis, with results delayed by elevated exploration activity in Nevada. The company expects additional assay results in the coming months and plans to return its RC drill rig to Santa Fe following completion of the West Santa Fe program. Kimberly Ann, Founder, Chair, CEO and President, said results from the historic heap leach pads, Slab West discovery and West Santa Fe will be important as Lahontan advances its projects into 2027.
The Santa Fe Mine project, covering 26.4 km2, had 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. It has 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.
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