Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has released results from its 2026 Sonic core drilling program at the Santa Fe Mine Project, revealing that nine drill holes in a historic low-grade stockpile averaged 1.96 g/t gold equivalent (AuEq), including 1.64 g/t gold and 36.2 g/t silver. The stockpile, located adjacent to Heap Leach Pad Two, contains previously mined material that is being evaluated for potential future reprocessing, which could be more cost-effective than mining and processing fresh rock. The CN-extractable gold assays averaged 43% of corresponding fire assay values, indicating that the material may be amenable to conventional heap leach processing.
This development is significant for Lahontan Gold as it explores ways to maximize the value of its Santa Fe Mine project, which has a past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995. The project also boasts a National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz AuEq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t AuEq) and an Inferred Mineral Resource of 411,000 oz AuEq (16,760,000 tonnes grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t AuEq), all pit constrained.
According to the company, the stockpile material could potentially be processed at a lower cost than fresh rock, as it has already been mined and crushed. The high CN extraction rates suggest that the material would respond well to heap leaching, which is a low-cost processing method. This could allow Lahontan to reprocess the stockpile and recover additional gold and silver without the need for extensive new mining operations.
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. 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 on Lahontan Gold Corp., visit their website at www.lahontangoldcorp.com. The full press release is available at https://ibn.fm/F7hVP. The latest news and updates relating to LGCXF can be found at http://ibn.fm/LGCXF.
This announcement underscores the potential of reprocessing stockpiles as a viable strategy to enhance project economics, reduce environmental footprint, and extend the life of the Santa Fe Mine. Investors and stakeholders will be watching closely as Lahontan Gold advances its plans to potentially bring this material into production.
