Lahontan Gold Expands Nevada Footprint with Strategic York Claims Acquisition
Lahontan Gold Corp. has acquired the York claims adjacent to its Santa Fe Mine Project, potentially expanding oxide gold and silver resources and enhancing operational flexibility in Nevada's mineral-rich Walker Lane belt.
Lahontan Gold Corp. has completed the acquisition of 27 unpatented lode mining claims known as the York claims from Emergent Metals Corp., significantly expanding its land position in Nevada's Walker Lane mineral belt. The newly acquired claims adjoin the southeast corner of Lahontan's Santa Fe Mine Project and present substantial potential for expanding oxide gold and silver resources identified at the York deposit.
Recent drilling results support mineralization extending onto the newly acquired claims, including hole YOR25-001R which intercepted 89.9 meters grading 0.23 g/t gold. This geological continuity suggests the York claims could meaningfully contribute to the company's overall resource base. The acquisition terms included a US$10,000 payment, a US$50,000 promissory note, 2 million Lahontan shares issued to Emergent, and a 1% net smelter return royalty on the York claims, which Lahontan can buy back for up to US$1 million within seven years.
Kimberly Ann, Founder, Chair, CEO, and President of Lahontan Gold, emphasized the strategic importance of the acquisition, stating that the gold and silver resource expansion potential, combined with the ability to further lay back the York pit in future operations, makes this a valuable addition to the company's portfolio. With this acquisition, Lahontan now controls 506 claims totaling over 2,832 hectares across one of the world's premier gold belts.
The Santa Fe Mine project, Lahontan's flagship property covering 26.4 square kilometers, has a significant historical production record of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines using heap-leach processing. Current resources include a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 ounces gold equivalent and an Inferred Mineral Resource of 411,000 ounces gold equivalent, all pit constrained. The company plans to continue advancing the Santa Fe Mine project toward production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025.
This expansion comes at a time when gold exploration in mining-friendly Nevada continues to attract significant investment interest. The technical content of the announcement was 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. Additional information about the company's developments is available through their corporate communications at https://ibn.fm/LGCXF and detailed technical reports can be accessed through regulatory filings.