Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) announced the first assay results from its 2025 maiden reverse-circulation drilling program at the West Santa Fe Project in Nevada's Walker Lane, reporting a shallow, thick intercept of oxide gold and silver mineralization that confirms historic drilling results. The company said the results support the potential for a shallow, oxidized disseminated gold-silver system at West Santa Fe and validate historic drilling data as it advances the project alongside its nearby Santa Fe Mine Project.
Highlights from hole WSF25-06R include 54.9 meters grading 1.00 g/t gold equivalent, including 16.8 meters grading 1.75 g/t gold equivalent, with silver-rich mineralization returning individual intercepts up to 176 g/t silver. The intercept begins at a depth of 33.5 meters, indicating near-surface mineralization amenable to potential open-pit mining and heap-leach processing, similar to the past-producing Santa Fe Mine. The confirmation of historic results is significant because it reduces geological risk and supports the company's resource growth strategy.
The West Santa Fe Project is a satellite deposit located approximately 4 kilometers from Lahontan's flagship Santa Fe Mine project, which has a National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 ounces of gold equivalent and an Inferred Resource of 411,000 ounces of gold equivalent. 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. The results from hole WSF25-06R demonstrate the potential to expand resources at West Santa Fe, which could enhance the overall economics of the Santa Fe Mine project. Investors can view the full press release at https://ibn.fm/EAuXA.
The company holds four top-tier gold and silver exploration properties in the Walker Lane of Nevada. The Santa Fe Mine 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 current resource estimate, detailed in the Preliminary Economic Assessment Technical Report with an effective date of December 10, 2024, uses a cut-off grade of 0.15 g/t AuEq for oxide resources and 0.60 g/t AuEq for non-oxide resources, with gold price assumptions of US$1,950/oz and silver at US$23.50/oz.
Lahontan Gold's successful confirmation of historic drilling at West Santa Fe de-risks the project and provides a pathway to potentially add near-term production ounces. The company's focus on advancing both the Santa Fe Mine and West Santa Fe projects positions it to capitalize on the growing demand for gold and silver in a favorable mining jurisdiction. For more information, visit the company's website at www.lahontangoldcorp.com.
