Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has announced the mobilization of a track-mounted reverse-circulation drill rig and crew to its flagship Santa Fe Mine project in Nevada's Walker Lane district. The MPD-1500 rig is scheduled to complete up to 25 drill holes totaling 4,000 meters, with the primary objective of upgrading gold and silver resources from the Inferred to Indicated category and expanding overall resources at the Slab and York areas.
The company's Executive Chair, Founder, and CEO Kimberly Ann stated that the program is "vital as the Company pivots from resource definition to mine planning and permitting in 2026." Vice President of Exploration Brian Maher is overseeing the drill campaign. This move signals a significant step forward for Lahontan Gold as it transitions from exploration to development at the Santa Fe Mine, which 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 Santa Fe Mine currently hosts a Canadian National Instrument 43-101 compliant 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) 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). The company plans to continue advancing the project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025.
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 National Instrument 43-101. The full press release is available at https://ibn.fm/ZALOm.
For more information about Lahontan Gold Corp., visit their website at www.lahontangoldcorp.com. The latest news and updates relating to LGCXF are available in the company's newsroom at http://ibn.fm/LGCXF.
