Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has announced the initial analytical results from its 2025 Phase Two drilling program at the Santa Fe Mine Project in Nevada's Walker Lane. The program, which included six reverse-circulation drill holes totaling 994 meters, delivered significant gold intercepts at both the York and Slab zones, expanding the known mineralization.
At the York zone, a broad intercept of 114.3 meters grading 0.33 g/t gold equivalent was reported, including higher-grade mineralization of 18.3 meters grading 0.90 g/t gold equivalent. This intercept extends mineralization north of the current resource pit shell, indicating potential for resource growth. At the Slab zone, both shallow and deeper oxide gold intercepts were encountered, which may support a deeper conceptual pit and contribute to additional resources in an updated Mineral Resource Estimate expected later this year.
The Santa Fe Mine project, covering 26.4 square kilometers, has a past production history of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines using heap-leach processing. The project currently hosts a National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 ounces of gold equivalent (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 ounces of gold equivalent (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. The gold equivalent calculation includes recovery assumptions based on a gold price of $1,950 per ounce and silver price of $23.50 per ounce, with varying recoveries for oxide and non-oxide materials.
These results are significant as they demonstrate the potential to expand the resource base at Santa Fe, which is already one of the larger gold projects in the Walker Lane trend. The company plans to continue advancing the Santa Fe Mine project towards production, update the Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. The technical content of this news release has been reviewed and approved by Michael Lindholm, CPG, an independent consulting geologist and Qualified Person under NI 43-101.
For more information on Lahontan Gold Corp., visit www.lahontangoldcorp.com. The full press release is available at https://ibn.fm/uVpTY.
