Highlights:
- Source update expected soon
- The Santa Fe mine is moving towards production
- Strong drilling results at the West Santa Fe project
The Santa Fe mine, which produced gold and silver between 1988 and 1994, comes with existing infrastructure and proven mineralization.
“Lahontan will include these new drill holes in an updated MRE for Slab and the entire Santa Fe project. With a new MRE, combined with updated metallurgy and rising metal prices, the company will also complete an updated preliminary economic assessment,” CEO Kimberly Ann said in the report. The update could significantly change the market’s perception of the company’s asset base.
Recent drilling at the nearby West Santa Fe project returned 36.6m at 3.11 g/t Au Eq, including a high-grade interval of 10.7m at 5.75 g/t Au Eq from surface, highlighting the upside of exploration for Lahontan’s satellite assets. These results can contribute to future resource growth and support the company’s transition from explorer to producer.
With drilling underway and major technical milestones underway, Lahontan is positioning itself to move from exploration to development and production. Investors are watching closely as the upcoming resource update and advancing mine infrastructure could mark the start of a new chapter for the historic Santa Fe operation.
Read the full research here.
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