Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has reported initial results from its 2026 Sonic core drilling program at the Santa Fe Mine Project, with drilling confirming significant gold and silver mineralization in a historic “low-grade” stockpile and grades substantially exceeding the material’s original classification. The stockpile, adjacent to Heap Leach Pad Two, contains readily accessible material that the company believes may be suitable for low-cost future reprocessing, with cyanide-extractable gold assays averaging more than 30%, indicating favorable heap-leach characteristics.
The nearly 100-hole Sonic drilling program has now concluded across the site’s four historic heap leach pads, with results from six additional holes in the low-grade stockpile expected shortly. The program is designed to define resources remaining in historic heap leach pads and stockpiles that could provide a lower-cost source of future processing material as the company advances its goal of restarting production at the Santa Fe Mine in 2027.
These results are particularly significant for Lahontan Gold as they suggest that material previously considered low-grade may actually contain economically viable concentrations of gold and silver. The higher-than-expected grades could enhance the project's economics and reduce the risk associated with restarting operations. For investors, this news underscores the potential value hidden in the company's assets and the progress toward production.
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. Lahontan’s flagship property, the 26.4 km2 Santa Fe Mine project, 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 Santa Fe Mine 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.
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. For more information, please visit the company's website at www.lahontangoldcorp.com.
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 — Standards of Disclosure for Mineral Projects.
This news matters because it demonstrates the potential for additional resource recovery at the Santa Fe Mine, which could extend the mine life and improve economic returns. For the industry, it highlights the importance of re-evaluating historical stockpiles with modern drilling techniques. The full press release is available at https://ibn.fm/a0odu.
