Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has reported additional results from its 2026 drilling program at the Santa Fe Mine Project, revealing a new gold discovery in Tertiary volcanic rocks along the Summit Fault and high-grade oxide mineralization at the Calvada East resource area. These findings underscore the project's potential for further expansion beyond its existing resource base.
The company reported that drill hole CAL26-11R returned 13.7 meters grading 1.10 g/t gold equivalent (Au Eq), establishing a new exploration target within the volcanic rocks. Meanwhile, drill hole CAL26-12R intersected 12.2 meters grading 1.26 g/t Au Eq near the base of the current resource pit shell, indicating potential for resource growth at depth.
Additionally, broad intervals of shallow oxide gold and silver mineralization were encountered at the Slab West exploration target. Drill holes CAL26-13R and CAL26-15R intersected 35.1 meters grading 0.21 g/t Au Eq and 18.3 meters grading 0.22 g/t Au Eq, respectively. Management noted that Slab West remains open in multiple directions, with further assay results from recently completed drill holes expected shortly.
These results reinforce the district-scale exploration potential of the Santa Fe project, which historically produced 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 hosts a 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) 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 continue advancing the Santa Fe Mine 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 to Lahontan Gold Corp., who is a Qualified Person as defined in National Instrument 43-101.
For more information, visit Lahontan Gold's website.
