Lahontan Gold Corp. has mobilized a track-mounted reverse-circulation drill rig and crew to its flagship Santa Fe Mine project in Nevada's Walker Lane district. The MPD-1500 rig will complete up to 25 drill holes totaling 4,000 meters, with the program focused on upgrading gold and silver resources from the Inferred to Indicated category and expanding overall resources at the Slab and York areas.
The drilling campaign represents a significant advancement for the Santa Fe Mine project, which already contains substantial mineral resources. The property hosts a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 ounces gold equivalent and an Inferred Mineral Resource of 411,000 ounces gold equivalent. These resources are pit-constrained and include both gold and silver mineralization across 48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag in the Indicated category.
Executive Chair, Founder, and CEO Kimberly Ann emphasized the program's importance, stating it is vital as the company pivots from resource definition to mine planning and permitting in 2026. Vice President of Exploration Brian Maher is overseeing the drill campaign, which targets specific areas known to contain mineralization. The Santa Fe Mine has a history of production, with past operations between 1988 and 1995 yielding 359,202 ounces of gold and 702,067 ounces of silver from open pit mines utilizing heap-leach processing.
This drilling initiative carries broader implications for the mining industry and regional economy. Nevada's Walker Lane district represents one of North America's most productive gold regions, and successful resource expansion at Santa Fe could contribute to the district's continued significance in global gold production. The program's timing coincides with the company's plans to update the Santa Fe Preliminary Economic Assessment and advance the project toward production.
The technical aspects of the project have been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., who serves as a Qualified Person as defined in National Instrument 43-101. Additional technical details are available in the Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project, which can be accessed through the company's regulatory filings. For more information about the company's operations and properties, visit https://www.lahontangoldcorp.com.
The mobilization of drilling equipment and personnel signals concrete progress in the development timeline for the Santa Fe Mine. As global demand for precious metals continues amid economic uncertainty and inflationary pressures, successful resource expansion at established mining districts like Walker Lane becomes increasingly valuable. The conversion of Inferred resources to the higher-confidence Indicated category represents a critical step in demonstrating project viability to investors and regulatory agencies alike.
