Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) is advancing its Santa Fe project in Nevada with new drilling results and the start of a formal update to the project's mineral resource estimate and preliminary economic assessment (PEA). The company recently reported initial assays from its maiden reverse-circulation drilling at the satellite West Santa Fe project, located approximately 13 kilometers from the main Santa Fe Mine project. The first of six drill holes completed at West Santa Fe, totaling 593 meters, intersected shallow oxide gold mineralization, validating the historical database and supporting future resource estimation work.
Management explicitly linked the drilling to an investor-relevant milestone: validating the historical database for future resource estimation. The company has also retained RESPEC Company LLC and Kappes, Cassiday & Associates to update the Santa Fe Mine Project technical report. This combination of repeatable, shallow oxide drill success and a clear path to updated economics can be the catalyst that moves a gold developer from story to strategy for investors.
The Santa Fe project, a past-producing mine, has a historical resource that Lahontan aims to expand and upgrade. The new drilling at West Santa Fe is designed to test extensions of known mineralization and provide data for an updated resource model. The PEA update will incorporate these results and current metal prices to provide a more accurate economic assessment of the project.
Investors can find the latest news and updates relating to LGCXF in the company’s newsroom at ibn.fm/LGCXF. Lahontan Gold Corp. is focused on advancing its portfolio of gold properties in Nevada, a jurisdiction known for its mining-friendly environment and prolific gold production.
