Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) announced that the Bureau of Land Management (BLM) published its Decision Record, Finding of No Significant Impact, and approval of the company’s Exploration Plan of Operations for the Santa Fe Mine project. This approval concludes the National Environmental Policy Act (NEPA) Environmental Assessment process and authorizes Lahontan to advance a significantly expanded drilling and development program.
The approved plan permits exploration across a 12.2 km² area with more than 700 drill holes targeting new geologic and geochemical anomalies, historic high-grade intercepts, and multiple untested zones beyond the current gold and silver resources. High-priority targets include the Pinnacles area and Guzzler zone. The Santa Fe Mine, located in the Walker Lane of mining-friendly Nevada, 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.
According to the company’s NI 43-101 compliant Technical Report, the Santa Fe Mine has an Indicated Mineral Resource of 1,539,000 oz Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 tonnes grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), 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 BLM approval is a critical milestone for Lahontan Gold, as it removes regulatory uncertainty and allows for aggressive exploration to expand resources and potentially enhance project economics. The expanded drilling program aims to test multiple targets that could significantly increase the existing resource base. The company’s flagship Santa Fe property covers 26.4 km² and has a favorable location in Nevada, a jurisdiction known for its supportive mining policies.
Investors can view the full press release at https://ibn.fm/VWtxI and find more information on the company’s website at www.lahontangoldcorp.com. The technical content of this news release has been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., who is a Qualified Person as defined in NI 43-101.
The approval marks a significant step forward for Lahontan Gold, enabling the company to pursue a comprehensive exploration strategy that could unlock substantial value at the Santa Fe Mine project. With the BLM’s green light, the company is now positioned to accelerate its development timeline and potentially move closer to a production decision.
