Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has announced the addition of three experienced professionals to its management team, signaling a strategic move as the company transitions from a mine developer to a mine builder. The company is advancing the Santa Fe Mine in Nevada toward a planned production restart in 2027. This expansion of the leadership team comes at a critical juncture, as Lahontan focuses on permitting, mine planning, and the shift toward construction and operations.
Tony Gesualdo rejoins Lahontan as vice president of exploration, a role that leverages his previous tenure as exploration manager from 2020 to 2023. During that period, he was instrumental in contributing to the Santa Fe Mine's initial Mineral Resource Estimate. His return underscores the company's commitment to maintaining robust exploration momentum while preparing for future development. Michael Kubel joins as senior mine engineer, bringing over a decade of experience in Nevada open-pit gold mining and heap-leach operations, with notable stints at the Florida Canyon and Hycroft mines. His expertise is expected to be pivotal in optimizing the Santa Fe project's operational design. Jen Earle assumes responsibilities in investor relations and business development, drawing on two decades of experience in natural resources, capital markets, and investor engagement across the LSE, ASX, and TSX markets. Her addition reflects Lahontan's intent to strengthen its communication with the investment community as the project advances.
Founder, Executive Chair, CEO, and President Kimberly Ann commented, "These additions strengthen our technical, operational, and business development capabilities as we advance Santa Fe permitting, mine planning, and our planned transition toward construction and operations." The timing of these appointments aligns with the company's aggressive timeline to restart production at the Santa Fe Mine, which historically produced 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 via open-pit and heap-leach methods.
The Santa Fe Mine holds a NI 43-101 compliant Indicated Mineral Resource of 1,539,000 ounces of gold equivalent (Au Eq) and an Inferred Mineral Resource of 411,000 ounces Au Eq, as detailed in the company's recent Preliminary Economic Assessment (PEA). The PEA, with an effective date of December 10, 2024, outlines a robust project that is expected to benefit from the current gold price environment. Lahontan plans to update the PEA and drill test its satellite West Santa Fe project during 2025, further de-risking the project and enhancing its resource base.
The addition of experienced personnel is a clear indicator of Lahontan's readiness to execute its development plan. As the company progresses, it is not only focusing on the technical aspects but also on building a strong corporate foundation. The management team's combined expertise in exploration, engineering, and capital markets will be crucial in navigating the complexities of restarting a mine and bringing it into production. For more details on the full press release, visit https://ibn.fm/uwoU5. To stay updated on the latest news, visit the company's newsroom at http://ibn.fm/LGCXF.
