Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has provided an update on its Santa Fe Mine Project in Nevada, indicating that the project remains on track to begin construction in 2027. The company expects to complete an updated mineral resource estimate within weeks and a revised preliminary economic assessment by the end of August 2026. These milestones are critical for advancing state and federal permitting processes.
This year, Lahontan completed 87 drill holes totaling 7,751 meters, with the newly identified Slab West gold discovery remaining open in all directions. The company is also evaluating the potential reprocessing of historic heap leach pads as a low-cost source of future gold and silver production. Permitting work continues, including groundwater studies and waste rock characterization.
The Santa Fe Mine project, which spans 26.4 km² in the Walker Lane region of Nevada, had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995. According to the company's NI 43-101 technical report, the project hosts an indicated mineral resource of 1,539,000 ounces of gold equivalent and an inferred resource of 411,000 ounces of gold equivalent. The company plans to update the preliminary economic assessment and drill test its satellite West Santa Fe project in 2025.
Lahontan also announced shareholder approval of a new restricted share unit and deferred share unit plan to support the attraction and retention of key personnel. The technical content of this news release has been reviewed and approved by Michael Lindholm, CPG, an independent consulting geologist and qualified person under NI 43-101.
For more information, visit the company's website at www.lahontangoldcorp.com. The latest news and updates relating to LGCXF are available at http://ibn.fm/LGCXF.
