Lahontan Gold Corp. has announced new assay results from its 2025 Phase Two reverse-circulation drilling program at the flagship Santa Fe Mine Project in Nevada's Walker Lane region. The results highlight expanded oxide gold and silver mineralization at the Slab pit area beyond the current mineral resource estimate pit shell, with two additional drill holes showing significant findings.
The drilling program yielded results including 68.6 meters grading 0.45 g/t gold equivalent and 41.2 meters grading 0.32 g/t gold equivalent. These findings extend shallow mineralization to the south, west, and at depth, providing important data for the company's ongoing development plans. The Santa Fe Mine project covers 26.4 km² and has a history of past production totaling 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing.
According to the company's technical disclosure, the Santa Fe Mine currently has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq and an Inferred Mineral Resource of 411,000 oz Au Eq, all pit constrained. The technical content of the 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. Additional technical details are available in the full press release.
The expanded mineralization supports Lahontan Gold's plans to update the mineral resource estimate and preliminary economic assessment while advancing permitting efforts later this year. The company intends to continue advancing the Santa Fe Mine project toward production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. For investors seeking additional information, the latest news and updates relating to LGCXF are available through the company's newsroom at http://ibn.fm/LGCXF.
For the mining industry and investors, these results demonstrate continued potential in Nevada's established mining regions. The Walker Lane area of Nevada is recognized for its mining-friendly environment and historical production success. The expansion of known mineralization at the Santa Fe project suggests potential for increased resource estimates and could impact the project's economic viability as Lahontan Gold moves toward production decisions. The company's progress represents ongoing development in the North American mining sector, particularly in precious metals exploration and development.
