Lahontan Gold Corp. Mobilizes Drill Rig for Santa Fe Mine Resource Expansion
Lahontan Gold Corp. has mobilized a drill rig to its Santa Fe Mine project in Nevada to upgrade and expand gold and silver resources, marking a critical step toward mine planning and permitting.
Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has mobilized a track-mounted reverse-circulation drill rig and crew to its flagship Santa Fe Mine project in Nevada's Walker Lane district. The MPD-1500 rig will complete up to 25 drill holes totaling 4,000 meters, with the program focused on upgrading gold and silver resources from the Inferred to Indicated category and expanding overall resources at the Slab and York areas.
Executive Chair, Founder, and CEO Kimberly Ann emphasized the program's significance, stating it is vital as the Company pivots from resource definition to mine planning and permitting in 2026. Vice President of Exploration Brian Maher is overseeing the drill campaign. The Santa Fe Mine project holds substantial mineral resources, with a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq and an Inferred Mineral Resource of 411,000 oz Au Eq, all pit constrained.
The Santa Fe Mine has a history of past production, with 359,202 ounces of gold and 702,067 ounces of silver produced between 1988 and 1995 from open pit mines utilizing heap-leach processing. The property covers 26.4 km2 in mining-friendly Nevada, where Lahontan holds four top-tier gold and silver exploration properties through its US subsidiaries. The technical content of the company's 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.
For additional technical details, readers can refer to the Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project available on the Company's website and SEDAR+. The latest news and updates relating to LGCXF are available in the company's newsroom at https://ibn.fm/LGCXF. The full press release can be viewed at https://ibn.fm/ZALOm. 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.