Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has announced initial analytical results from its 2025 Phase Two drilling program at the Santa Fe Mine Project in Nevada's Walker Lane. The company reported six reverse-circulation drill holes totaling 994 meters that delivered significant gold intercepts at both the York and Slab zones, expanding mineralization beyond the current resource pit shells.
Highlights include a broad intercept of 114.3 meters grading 0.33 g/t gold equivalent at York, including higher-grade mineralization of 18.3 meters grading 0.90 g/t gold equivalent, expanding mineralization north of the current resource pit shell. At the Slab zone, shallow and deeper oxide gold intercepts were encountered, which may support a deeper conceptual pit and additional resources in an updated Mineral Resource Estimate expected later this year.
The Santa Fe Mine project, covering 26.4 km², 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 project 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), all pit constrained.
These drilling results are significant as they demonstrate the potential to expand the resource base at Santa Fe, which could enhance the project's economics and support the company's plans to advance toward production. Lahontan Gold intends to 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, visit the company's website at www.lahontangoldcorp.com.
The full press release is available at https://ibn.fm/uVpTY. For the latest news and updates on LGCXF, visit the company's newsroom at http://ibn.fm/LGCXF.
