Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) announced additional results from its 2026 drilling program at the Santa Fe Mine project in Nevada, highlighted by a geotechnical diamond drill hole at the Calvada deposit that intersected significant oxide gold mineralization. The company said the intercept ranks among the highest-grade results drilled to date within the Central Calvada deposit and supports confidence in advancing the project toward a targeted mine construction start in 2027.
Hole CAL26-03C returned 30.8 meters grading 0.93 grams per tonne gold equivalent (“Au Eq”), including a higher-grade interval of 10.7 meters grading 2.18 g/t Au Eq. Additional reverse-circulation drilling at the southern end of the Slab open pit encountered near-surface oxide mineralization, including 15.2 meters grading 0.40 g/t Au Eq and 9.1 meters grading 0.22 g/t Au Eq, helping define mineralization near the Calvada Fault.
Lahontan said drilling continues across the Santa Fe project, with additional results expected from its RC program and Sonic drilling campaign evaluating historic stockpiles and heap leach pads as part of broader efforts to update the project’s mineral resource estimate, complete a preliminary economic assessment and advance permitting activities. The company 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 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. The project 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, 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.
For leaders in the mining and technology sectors, these results underscore the potential of advanced exploration techniques to unlock value in historic mining districts. The high-grade intercept at Calvada could enhance the project's economic viability, potentially leading to a faster path to production and increased gold supply. The use of geotechnical drilling to also identify mineralization demonstrates the importance of integrated data collection in modern mineral exploration.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. The company’s flagship property is the 26.4 km² Santa Fe Mine project. The technical content of this 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.
For more information, visit the company’s website at www.lahontangoldcorp.com. The full press release is available at https://ibn.fm/eIjZy.
