Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) announced the first assay results from its 2025 maiden reverse-circulation drilling program at the West Santa Fe Project in Nevada’s Walker Lane, reporting a shallow, thick intercept of oxide gold and silver mineralization that confirms historic drilling results. The company stated that the results support the potential for a shallow, oxidized disseminated gold-silver system at West Santa Fe and validate historic drilling data as it advances the project alongside its nearby Santa Fe Mine Project.
Highlights from hole WSF25-06R include 54.9 metres grading 1.00 g/t gold equivalent, including 16.8 metres grading 1.75 g/t gold equivalent, with silver-rich mineralization returning individual intercepts up to 176 g/t silver. The intercept occurs from 30.5 metres depth, indicating near-surface mineralization amenable to low-cost open-pit mining and heap-leach processing, similar to the past-producing Santa Fe Mine.
Lahontan Gold’s flagship property, the 26.4 km2 Santa Fe Mine project, 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. The Santa Fe Mine 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, together grading 0.99 g/t Au Eq) 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, together grading 0.76 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery).
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 positive initial results from West Santa Fe could potentially expand the resource base and enhance the economics of the overall project.
The technical content of this news release and the company’s technical disclosure 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 — Standards of Disclosure for Mineral Projects. For more information, visit the company’s website at www.lahontangoldcorp.com.
This discovery is significant because it confirms the presence of a shallow, high-grade oxide gold-silver system that could be developed quickly and cost-effectively, potentially adding value to Lahontan Gold’s portfolio in the mining-friendly jurisdiction of Nevada. The results also validate the company’s exploration model and the reliability of historic drilling data, which is crucial for resource estimation and project advancement.
