Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) announced initial analytical results from its 2025 Phase Two drilling program at the Santa Fe Mine Project in Nevada's Walker Lane, reporting six reverse-circulation drill holes totaling 994 meters that delivered significant gold intercepts at both the York and Slab zones. The results indicate potential expansion of mineralization beyond the current resource pit shell, supporting the company's goal of updating the Mineral Resource Estimate and advancing the project toward production.
Highlights include a broad intercept of 114.3 meters grading 0.33 g/t gold equivalent at York, including higher-grade mineralization of 18.3 meters grading 0.90 g/t gold equivalent, expanding mineralization north of the current resource pit shell. At Slab, both shallow and deeper oxide gold intercepts were encountered, which may support a deeper conceptual pit and additional resources. These results are expected to contribute to an updated Mineral Resource Estimate planned for later this year.
The Santa Fe Mine project, which had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995, currently hosts 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. 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.
These drill results are significant because they demonstrate the potential to expand the resource base at Santa Fe, which could enhance the project's economics and extend its mine life. The York zone intercept, in particular, opens up new areas for resource growth north of the existing pit shell, while the Slab zone results suggest the possibility of deeper mineralization that could be incorporated into future mining plans. The updated Mineral Resource Estimate will be a key milestone for the company as it progresses toward a feasibility study and eventual production decision.
For more information on the drill results, visit the full press release at https://ibn.fm/uVpTY. The technical content of this news release 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. For further details on the company and its projects, visit www.lahontangoldcorp.com.
