Lahontan Gold Corp. has mobilized a Super 90 track-mounted core drill rig to its flagship Santa Fe Mine Project in Nevada's Walker Lane region as part of ongoing mine development and state-level permitting efforts. The core drilling program focuses on collecting samples for waste rock geochemical characterization and further defining groundwater distribution in areas proposed for open pit mining, both critical components of the permitting process. The company expects the data generated to support its plans for resuming open pit mining and heap leach processing at Santa Fe, with the objective of remaining on schedule to break ground at the project in 2027.
The Santa Fe Mine project holds substantial mineral resources, with past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines using heap-leach processing. According to a Canadian National Instrument 43-101 compliant technical report, the property contains an Indicated Mineral Resource of 1,539,000 ounces of gold equivalent and an Inferred Mineral Resource of 411,000 ounces of gold equivalent, all pit constrained. The technical content of the company's 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.
This development matters because successful permitting and eventual mining operations at Santa Fe could significantly contribute to domestic gold and silver production in the United States. Nevada's Walker Lane region is historically productive for precious metals, and the resumption of operations at Santa Fe would tap into established resources while creating economic opportunities. The project's advancement through permitting demonstrates the ongoing viability of mining in Nevada and highlights the technical and regulatory steps required to bring mineral resources into production.
The company plans 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 more information about the company, visit https://www.lahontangoldcorp.com. The full technical report, "Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project," is available on the company's website and SEDAR+. Mineral resources are reported using specific cut-off grades and metal price assumptions, including a gold price of US$1,950 per ounce and silver price of US$23.50 per ounce.
Investors seeking the latest news and updates relating to Lahontan Gold Corp. can find information in the company's newsroom at http://ibn.fm/LGCXF. The mobilization of drilling equipment represents a concrete step toward potential future production, with implications for the mining industry, local economies, and commodity markets. As permitting progresses, the project will need to address environmental considerations while demonstrating economic feasibility, balancing resource extraction with regulatory compliance in a mining-friendly jurisdiction.
