Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has announced three strategic additions to its management team, signaling a significant step forward in its transition from mine developer to mine builder. The company is targeting a 2027 production restart at its flagship Santa Fe Mine in Nevada, and these new appointments are designed to bolster its technical, operational, and business development capabilities.
Tony Gesualdo rejoins Lahontan as Vice President of Exploration, a role he previously held from 2020 to 2023. During his earlier tenure, Gesualdo contributed to the initial Mineral Resource Estimate for the Santa Fe Mine, making his return a valuable asset as the company continues to advance its exploration and development efforts. Michael Kubel has been appointed as Senior Mine Engineer, bringing over a decade of experience in Nevada open-pit gold mining and heap-leach processing, including work at the Florida Canyon and Hycroft mines. His expertise will be crucial in optimizing mine planning and operational readiness. Jen Earle joins the team in Investor Relations and Business Development, leveraging two decades of experience in natural resources, capital markets, and investor engagement across the LSE, ASX, and TSX markets. Her role will be pivotal in communicating the company's progress and attracting investment as it moves toward construction.
Kimberly Ann, Founder, Executive Chair, CEO, and President of Lahontan Gold, expressed confidence in the strengthened team, stating that these additions enhance the company's capabilities as it advances permitting, mine planning, and the transition toward construction and operations. The moves come at a critical time for the Santa Fe Mine, which has a rich history of past production and significant mineral resources.
The Santa Fe Mine project, spanning 26.4 square kilometers, previously produced 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 through open-pit mining and heap-leach processing. According to a National Instrument 43-101 compliant technical report, the project hosts an Indicated Mineral Resource of 1,539,000 ounces of gold equivalent (Au Eq) and an Inferred Mineral Resource of 411,000 ounces Au Eq. These resources are pit-constrained and based on a gold price of $1,950 per ounce and a silver price of $23.50 per ounce, with recovery assumptions factored into the Au Eq calculation.
The company plans to update the Santa Fe Preliminary Economic Assessment and drill test its satellite West Santa Fe project during 2025, as it progresses toward its goal of restarting production by 2027. These developments are poised to have significant implications for the mining industry and the regional economy in Nevada, a state known for its favorable mining environment. The addition of experienced professionals like Gesualdo, Kubel, and Earle positions Lahontan Gold to execute its strategic plan effectively, potentially creating value for shareholders and contributing to the local supply chain.
For investors and industry observers, this management strengthening signals that Lahontan Gold is serious about advancing the Santa Fe Mine to production. The company's focus on de-risking the project through technical expertise and clear communication could set a precedent for other junior mining companies aiming to transition from exploration to development. As the global demand for gold and silver remains robust, successful restart of the Santa Fe Mine could contribute to supply stability and economic growth in the region.
For more information on Lahontan Gold Corp., visit the company's website at www.lahontangoldcorp.com. The full press release is available at https://ibn.fm/uwoU5.
