Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has announced new drill results from its 2026 program at the Santa Fe Mine Project in Nevada, highlighting a significant expansion of the exploration potential beyond the current resource base. The company reported the first significant gold mineralization hosted within Tertiary volcanic rocks along the Summit Fault, a new geological setting for the project, and additional high-grade oxide mineralization at the Calvada East resource area.
The discovery was made in drill hole CAL26-11R, which returned 13.7 meters grading 1.10 g/t gold equivalent (Au Eq), establishing a new exploration target in volcanic rocks. Meanwhile, drill hole CAL26-12R intersected 12.2 meters grading 1.26 g/t Au Eq near the base of the current resource pit shell at Calvada East. These results suggest the potential to expand resources both laterally and in new geological domains.
At the Slab West exploration target, broad intervals of shallow oxide gold and silver mineralization were encountered. Drill holes CAL26-13R and CAL26-15R intersected 35.1 meters grading 0.21 g/t Au Eq and 18.3 meters grading 0.22 g/t Au Eq, respectively. Management noted that Slab West remains open in multiple directions, and additional assay results from recently completed drill holes are expected shortly.
The significance of these findings lies in the fact that they extend mineralization beyond the known resource areas and into rock types not previously considered for gold mineralization at Santa Fe. This could lead to a substantial increase in the project's overall resource potential. The Santa Fe Mine project already hosts a NI 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, 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 Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. The technical content of this 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 full press release is available at https://ibn.fm/UQWit.
