Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has received Federal Bureau of Land Management approval for its maiden drill program at the West Santa Fe project in Nevada’s Walker Lane. This clearance allows the company to validate historic drilling and test extensions of the shallow, oxidized gold and silver system once its current Santa Fe Mine drilling is complete. The approval marks a significant step in advancing exploration at the satellite project, which complements Lahontan’s flagship Santa Fe Mine.
In conjunction with the announcement, Lahontan also granted 9 million options at $0.15, exercisable for five years and subject to a four-month hold. The West Santa Fe project is located within the prolific Walker Lane trend, a mining-friendly jurisdiction with a history of gold and silver production. The company’s flagship Santa Fe Mine project, covering 26.4 square kilometers, 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 a 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 towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of Nevada. 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. For more information, visit the company’s website at www.lahontangoldcorp.com.
The receipt of BLM approval is a critical regulatory milestone that de-risks the West Santa Fe project and allows Lahontan to systematically explore the property. The company’s strategy focuses on validating historic drilling results and expanding the known mineralization, which could enhance the overall resource base of its Nevada assets. This development is important because it demonstrates progress in advancing exploration in a highly prospective region, potentially leading to new discoveries that could support future production.
