Lahontan is also pleased to announce that it has completed its 2025 Phase Two drilling program at the Santa Fe mine project. By 2025, the company completed a total of twenty reverse circulation drill holes in the Slab and York Resource areas. The aim of the drilling program was to expand the gold and silver reserves at depth beneath the south side of the Slab pit and to exploit and grow mineral resources in the York area. All boreholes in the shelf area, which were up to 194 meters deep, remained in oxidized and hydrothermally altered rock to their final depth.
Kimberly Ann, executive chairman, president, CEO and founder of Lahontan, commented: “Lahontan is excited to begin our first drilling campaign in West Santa Fe. The historical drill hole data is very encouraging and we look forward to testing this important gold and silver resource exploration target. At the Santa Fe Mine project, the twenty drill holes completed this year represent the largest number of drill holes completed in a single year since the company began drilling the project in 2021. Since that time, Lahontan has completed 99 diamond and reverse circulation drill holes totaling 22,431 meters in Santa Fe. We plan to update the Santa Fe Mine MRE using the new drill hole data in early 2026 and then integrate it into a preliminary economic assessment of the project in the first half of 2026.
About Lahontan Gold Corp.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that, through its U.S. subsidiaries, owns four gold and silver exploration properties in the Walker Lane area of mining-friendly Nevada. Lahontan’s flagship, the 28.3 km2 The Santa Fe mine project produced 359,202 ounces of gold and 702,067 ounces of silver from open-pit mines using heap-leach processing between 1988 and 1995. The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, along with a grading of 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 grading 0.74 g/t Au and 3.25 g/t Ag, along with grading 0.76 g/t Au Eq), all confined in the pit (Au Eq includes recovery, see Santa Fe Project Technical Report and note below*). The company plans to continue to develop the Santa Fe mine project toward production, update Santa Fe’s preliminary economic assessment and test its West Santa Fe satellite project in 2025. For more information, please visit our website: www.lahontangoldcorp.com
*See the “Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project,” authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective: December 10, 2024, Report Date: January 24, 2025. The Technical Report is available on the Company’s website and on SEDAR+. Mineral resources are reported at a limit of 0.15 g/t AuEq for oxide sources and 0.60 g/t AuEq for non-oxide sources. AuEq for the purposes of Mineral Resources cut-off grade and reporting is based on the following assumptions: gold price of US$1,950/oz of gold, silver price of US$23.50/oz of silver, and oxide gold recoveries ranging from 28% to 79%, oxide silver recoveries ranging from 8% to 30%, and non-oxide gold and silver recoveries of 71%.
Qualified person
Brian J. Maher, M.Sc., CPG-12342, is a “qualified person” as defined under Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has reviewed and approved the contents of this press release with respect to all technical disclosures other than mineral resource estimates, as noted above. Mr. Maher is vice president of exploration for Lahontan Gold and verified the data disclosed in this press release, including sampling. Analytical and testing data underlying the disclosure.
On behalf of the Board of Directors
Kimberly Ann
Founder, CEO, President and Director
FOR MORE INFORMATION PLEASE CONTACT:
Lahontan Gold Corp.
Kimberly Ann
Founder, CEO, President, Director
Phone: 1-530-414-4400
Email: Kimberly.ann@lahontangoldcorp.com
Website: www.lahontangoldcorp.com
Cautionary Statement Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Except for statements of historical fact, this press release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward-looking information is often identified by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate,” “estimate” and other similar words, or statements that certain events or circumstances “may” or “will” occur. Forward-looking statements are based on the opinions and estimates as of the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, including but not limited to delays or uncertainties with regulatory approvals, including those of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the company’s control. The Company assumes no obligation to update any forward-looking information if circumstances or management’s estimates or opinions should change, except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is included in the Company’s filings with Canadian securities regulators. These documents are available at www.sedar.com.
SOURCE: Lahontan Gold Corp.
View the original press release on ACCESS Newswire
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