Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) has reported the first assay results from its 2025 maiden reverse-circulation drilling program at the West Santa Fe Project in Nevada's Walker Lane. The results confirm a shallow, thick intercept of oxide gold and silver mineralization that aligns with historic drilling, reinforcing the project's potential. The company announced that hole WSF25-06R returned 54.9 metres grading 1.00 g/t gold equivalent, including a higher-grade interval of 16.8 metres grading 1.75 g/t gold equivalent. Silver-rich mineralization was also encountered, with individual intercepts reaching up to 176 g/t silver.
These initial findings support the interpretation of a shallow, oxidized disseminated gold-silver system at West Santa Fe, validating the historic drilling data as Lahontan Gold advances the project alongside its nearby Santa Fe Mine Project. The company plans to continue drilling to further delineate the resource and assess its economic viability. The West Santa Fe Project is located in the prolific Walker Lane trend, which hosts numerous gold and silver deposits.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds four top-tier gold and silver exploration properties in Nevada through its US subsidiaries. The flagship property, the Santa Fe Mine project, covers 26.4 km² and had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines using heap-leach processing. The Santa Fe Mine has 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, 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 (Au Eq is inclusive of recovery, as detailed in the Santa Fe Project Technical Report).
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. 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 about Lahontan Gold, visit the company's website at www.lahontangoldcorp.com.
These results are significant as they confirm the presence of a shallow, high-grade oxide gold-silver system that could potentially be developed economically using low-cost heap-leach processing, similar to the historical operations at the Santa Fe Mine. The confirmation of historic drilling data also reduces exploration risk and supports the company's strategy to build on past production and resources. Investors and stakeholders can view the full press release at https://ibn.fm/EAuXA.
