The Bureau of Land Management has approved Lahontan Gold Corp.'s Exploration Plan of Operations for the Santa Fe Mine project, concluding the NEPA Environmental Assessment process and authorizing the company to advance a significantly expanded drilling and development program. This regulatory approval represents a critical milestone for the mineral exploration company, allowing exploration across a 12.2 km² area with more than 700 drill holes targeting new geologic and geochemical anomalies.
The expanded exploration program will focus on historic high-grade intercepts and multiple untested zones beyond the current gold and silver resources, including high-priority targets such as the Pinnacles area and Guzzler zone. This approval comes at a time when global demand for precious metals continues to drive exploration activity in mining-friendly jurisdictions like Nevada. The Santa Fe Mine project already contains substantial mineral resources, with a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq and an Inferred Mineral Resource of 411,000 oz Au Eq.
The project's historical significance adds context to the current development, as the Santa Fe Mine saw 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 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. Additional technical details are available in the full press release and the Preliminary Economic Assessment technical report.
For investors following the company's progress, updates relating to LGCXF are available in the company's newsroom at http://ibn.fm/LGCXF. 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. This expanded exploration authorization could significantly impact the company's resource base and development timeline, potentially positioning the Santa Fe Mine as a substantial contributor to North American gold production.
The approval process involved comprehensive environmental assessment under the National Environmental Policy Act, resulting in a Finding of No Significant Impact. This regulatory clearance demonstrates that the proposed exploration activities meet federal environmental standards while allowing for substantial mineral resource evaluation. The decision enables Lahontan Gold to systematically test multiple exploration targets across the extensive property, potentially leading to resource expansion and mine development optimization.
