Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) signed a binding term sheet on August 18, 2025, to acquire 27 unpatented lode mineral claims known as the York Claims from Emergent Metals Corp. This acquisition adds approximately 2.1 square kilometers of mineral rights to the Santa Fe Mine Project, adjoining the site immediately south and southeast of the York open pit and existing gold resource. A recent Preliminary Economic Assessment indicated that gold-silver mineralization extends toward the York Claims, suggesting potential for resource expansion.
The transaction is expected to facilitate the expansion of the York open pit and potentially increase mineral resources in the area. The Santa Fe Mine Project, Lahontan's flagship property spanning 26.4 square kilometers, 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 using heap-leach processing. Current Canadian National Instrument 43-101 compliant resources include an Indicated Mineral Resource of 1,539,000 ounces gold equivalent and an Inferred Mineral Resource of 411,000 ounces gold equivalent, all pit-constrained.
For more details, the full press release is available at https://ibn.fm/z1pem. Additional technical information can be found in the Preliminary Economic Assessment, NI 43-101 Technical Report for the Santa Fe Project, authored by Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM, with an effective date of December 10, 2024, and report date of January 24, 2025. The technical content of this news was reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., a Qualified Person as defined in National Instrument 43-101.
This acquisition is significant as it enhances Lahontan's asset base in the mining-friendly Walker Lane region of Nevada, potentially boosting future production capabilities and economic viability. The expansion aligns with the company's strategy to advance the Santa Fe Mine Project towards production, update its Preliminary Economic Assessment, and drill test the satellite West Santa Fe project during 2025. Investors can access the latest news and updates relating to LGCXF at http://ibn.fm/LGCXF.
