Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) is taking significant steps toward resuming production at its past-producing Santa Fe mine in Nevada. The company recently announced the mobilization of a second drill rig to the site, focusing on areas that have seen little to no exploration drilling. This move comes as global demand for gold and silver remains robust, positioning Lahontan to capitalize on favorable market conditions.
The Santa Fe mine has a strong history, with production dating back to the late 1980s and early 1990s. Lahontan’s land package in the Walker Lane region benefits from established infrastructure, including three wells, secured water rights, a substation, and a year-round access road. The company is planning to bring the mine back into operation and expects to receive final construction approval by the end of 2026 or early 2027.
Drilling results at the flagship Santa Fe project have been successful, and the West Santa Fe project has also delivered impressive results. The addition of a second drill rig will allow the company to accelerate exploration and expand the resource base. The previously reported resource of just under two million ounces is considered historical, and an updated resource estimate is anticipated.
Lahontan Gold is focused on advancing its projects in a timely manner. The strong infrastructure and positive drilling outcomes underscore the potential for the Santa Fe mine to become a significant producer. Investors can find the latest news and updates relating to LGCXF in the company’s newsroom at ibn.fm/LGCXF.
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