Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) has taken a significant step toward advancing its West Santa Fe Project by submitting a Notice of Operations to the U.S. Bureau of Land Management (BLM). The notice covers multiple drill sites, access roads, and drilling sumps, paving the way for the company's inaugural drilling program at the project, located 13 kilometers southwest of its flagship Santa Fe Mine Project in Nevada.
The planned drilling program aims to twin historic holes, drill down-dip, and test mineralization along strike. Historical work at West Santa Fe includes 171 drill holes totaling over 13,000 meters, which outlined shallow, oxidized gold and silver mineralization near the historic Mindora underground mine. Kimberly Ann, Lahontan's Founder, Chair, CEO, and President, stated, "Once approved, the Company will be able to conduct its first drilling program at the project, seeking to validate the extensive historic drill hole data base and expand the footprint of disseminated gold and silver mineralization at West Santa Fe."
This announcement comes as Lahontan continues to advance its overall portfolio in the Walker Lane region of Nevada, a mining-friendly jurisdiction. The company's flagship Santa Fe Mine project boasts a past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995. According to a NI 43-101 technical report, the Santa Fe Mine has an 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 update the Santa Fe Preliminary Economic Assessment and continue advancing the project toward production.
The West Santa Fe Project represents a satellite opportunity that could potentially expand Lahontan's resource base. The historic drilling data suggests the presence of disseminated mineralization that may be amenable to similar open-pit, heap-leach processing as the Santa Fe Mine. The upcoming drilling program will be critical in confirming these historical results and assessing the project's economic viability.
For more information about Lahontan Gold Corp., visit www.lahontangoldcorp.com. The technical content of this news release has been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp. and a Qualified Person as defined in National Instrument 43-101.
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