Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has reported initial results from its 2026 Sonic core drilling program at the Santa Fe Mine Project, with drilling confirming significant gold and silver mineralization in a historic “low-grade” stockpile. Grades substantially exceeded the material’s original classification, the company announced.
The stockpile, adjacent to Heap Leach Pad Two, contains readily accessible material that Lahontan believes may be suitable for low-cost future reprocessing. Cyanide-extractable gold assays averaged more than 30%, indicating favorable heap-leach characteristics. The nearly 100-hole Sonic drilling program has now concluded across the site’s four historic heap leach pads, with results from six additional holes in the low-grade stockpile expected shortly.
The program is designed to define resources remaining in historic heap leach pads and stockpiles that could provide a lower-cost source of future processing material as the company advances its goal of restarting production at the Santa Fe Mine in 2027. The full press release is available at https://ibn.fm/a0odu.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan’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, please see Santa Fe Project Technical Report and note below*). 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 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. Mr. Lindholm was not an author for the Technical Report* and does not take responsibility for the resource calculation but can confirm that the grade and ounces in this press release are the same as those given in the Technical Report.
For more information, please visit the company's website: www.lahontangoldcorp.com. Additional updates and news relating to LGCXF are available in the company’s newsroom at http://ibn.fm/LGCXF.
