Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has released an update on its Santa Fe Mine Project in Nevada, confirming that the project remains on track to begin construction in 2027. The company expects to complete an updated mineral resource estimate within weeks and a revised preliminary economic assessment by the end of August 2026, both of which are critical for advancing state and federal permitting processes.
This year, Lahontan completed 87 drill holes totaling 7,751 meters, with the newly identified Slab West gold discovery remaining open in all directions. Permitting work is also advancing, including groundwater studies and waste rock characterization. Additionally, drilling is underway to evaluate the potential reprocessing of historic heap leach pads as a low-cost source of future gold and silver production.
The Santa Fe Mine project has a past production history of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995. According to the company's NI 43-101 technical report, the project has an indicated mineral resource of 1,539,000 oz Au Eq and an inferred resource of 411,000 oz Au Eq. Lahontan also announced shareholder approval of a new restricted share unit and deferred share unit plan designed to attract and retain key personnel.
For more details, the full press release is available at https://ibn.fm/ohBUb. Additional information about Lahontan Gold Corp. can be found on its website at www.lahontangoldcorp.com.
