Lahontan Gold Discovers New Gold Zone at Santa Fe Project, Expanding Resource Potential Ahead of Permitting
Lahontan Gold Corp. announced the discovery of a new gold zone, Slab West, at its Santa Fe Mine Project in Nevada, with multiple mineralized intercepts that remain open for expansion, boosting the project's resource base as it advances toward a targeted 2027 mine construction.
Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has reported the first drill results from its 2026 exploration program at the Santa Fe Mine Project in Nevada, revealing a previously unrecognized gold zone west of the Slab open pit. The new ‘Slab West’ zone returned multiple mineralized intercepts, including 35.0 meters grading 0.34 g/t gold equivalent and 61.0 meters grading 0.26 g/t gold equivalent, and remains open in all directions, according to a company press release.
The discovery is significant because it has the potential to add significant new gold resources at Santa Fe, which already hosts a NI 43-101 compliant Indicated Mineral Resource of 1,539,000 ounces of gold equivalent and an Inferred Resource of 411,000 ounces. The company also reported that geotechnical drill hole CAL26-02C intersected 90.8 meters grading 0.44 g/t gold equivalent below the current Calvada resource pit shell, including 12.3 meters grading 1.22 g/t gold equivalent, further supporting confidence in the project’s existing resource model.
These results come as Lahontan advances the Santa Fe project toward permitting and a targeted mine construction timeline in 2027. The company plans to update the Santa Fe Preliminary Economic Assessment and drill test its satellite West Santa Fe project during 2025. The Santa Fe Mine 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 Slab West discovery and strong Calvada intercepts are expected to bolster the project's economics as Lahontan moves closer to a production decision. The technical content of this news release has been reviewed and approved by Michael Lindholm, CPG, an independent consulting geologist to Lahontan Gold Corp. and a Qualified Person under NI 43-101.
For more information, the full press release is available at https://ibn.fm/PM6A8, and the company’s website is www.lahontangoldcorp.com.