Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has announced the first drill results from its 2026 exploration program at the Santa Fe Mine Project in Nevada, including the discovery of a previously unrecognized gold zone west of the Slab open pit. The new “Slab West” zone returned multiple mineralized intercepts, including 35.0 meters grading 0.34 g/t gold equivalent and 61.0 meters grading 0.26 g/t gold equivalent, and remains open in all directions, according to a press release.
The company also reported that geotechnical drill hole CAL26-02C intersected 90.8 meters grading 0.44 g/t gold equivalent below the current Calvada resource pit shell, including 12.3 meters grading 1.22 g/t gold equivalent. These results further support confidence in the project’s existing resource model as Lahontan advances toward permitting and a targeted mine construction timeline in 2027.
The Slab West discovery has the potential to add significant new gold resources at Santa Fe, which already hosts 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, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 tonnes grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained. The Santa Fe Mine had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing.
For leaders in the mining and technology sectors, this news underscores the ongoing potential for resource expansion in established mining districts. The Slab West zone, which remains open in all directions, could significantly enhance the project’s economics and extend mine life. The Calvada intercept below the current resource pit shell also suggests that the deposit may be larger than previously modeled, potentially increasing the project’s value.
Lahontan plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. The company’s flagship property, the 26.4 km² Santa Fe Mine project, is located in the Walker Lane of mining-friendly Nevada.
The technical content of this news release and the company’s technical disclosure 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 — Standards of Disclosure for Mineral Projects.
For more information, visit the company’s website at www.lahontangoldcorp.com. The full press release can be accessed at https://ibn.fm/PM6A8.
