Lahontan Gold to Drill Historic Heap Leach Pads at Santa Fe Project, Targeting Low-Cost Reprocessing
Lahontan Gold Corp. plans sonic core drilling of historic heap leach pads at its Santa Fe project in Nevada, aiming to evaluate potential gold and silver resources for low-cost reprocessing to enhance project economics.
Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) announced it will soon commence sonic core drilling of historic heap leach pads at its Santa Fe Gold Mine Project in Nevada’s Walker Lane, with permits expected shortly and mobilization of a Boart Longyear LS 450 rig to follow. The program will include 95 holes totaling 1,740 meters to evaluate potential gold and silver resources from pads that previously supported production of approximately 359,000 ounces of gold and 700,000 ounces of silver.
The company highlighted the potential for low-cost reprocessing to enhance project economics and support its strategy to expand resources, cash flow and long-term production. This approach could unlock value from material already mined and stacked, reducing the need for new mining and lowering environmental impact. For Lahontan, success could significantly improve the financial viability of the Santa Fe project, which already boasts substantial NI 43-101 compliant resources: an Indicated Mineral Resource of 1,539,000 oz Au Eq and an Inferred Resource of 411,000 oz Au Eq.
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 current drilling program aims to assess the grade and metallurgical characteristics of the remaining pad material, potentially adding recoverable ounces without the capital intensity of new mine development. This strategy aligns with industry trends toward reprocessing tailings and waste to extract residual value.
Lahontan 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 company holds four top-tier gold and silver exploration properties in the Walker Lane of Nevada, with Santa Fe being its flagship. The technical content of this news release has been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., a Qualified Person as defined in National Instrument 43-101.
The implications of this drilling program extend beyond Lahontan. If successful, it could demonstrate a model for other mining companies to reprocess historic heap leach pads, potentially unlocking significant gold and silver resources from existing stockpiles across the industry. This approach offers a lower-cost, lower-risk path to production compared to greenfield exploration, and could improve the economics of projects in Nevada and elsewhere. For investors, the program represents a near-term catalyst that could de-risk the Santa Fe project and enhance its valuation. The company’s ability to quickly mobilize and execute the drilling will be key to maintaining momentum. For more information, visit Lahontan Gold Corp. and the company’s newsroom at http://ibn.fm/LGCXF.