Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has announced positive results from its 2025 Phase One drilling program at the Santa Fe Mine Project in Nevada, completing seven reverse-circulation drill holes totaling 1,210 meters. The drilling highlights include 89.9 meters grading 0.23 g/t Au and 18.3 meters grading 0.73 g/t Au at the York zone, with mineralization remaining open along strike and down-dip. Additionally, the program identified 39.6 meters grading 0.30 g/t Au at the Slab zone, confirming a new target for resource expansion.
The results are significant because they validate Lahontan's geologic model and expand oxide gold zones at the Santa Fe Mine Project, which already contains 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 successful drilling underscores the growth potential of the recently acquired York claims and demonstrates the project's continued viability. Additional drilling at both the York and Slab zones is planned for later this year as the company advances toward production.
For investors and the mining industry, these results indicate substantial resource expansion opportunities in Nevada's Walker Lane region, known for its mining-friendly environment. The Santa Fe Mine Project has a history of past production totaling 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995, making these new findings particularly promising for future development. The technical content 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.
The company's progress can be tracked through their corporate communications available at https://ibn.fm/LGCXF, while detailed technical information is accessible in the Preliminary Economic Assessment, NI 43-101 Technical Report for the Santa Fe Project. These drilling results position Lahontan Gold Corp. to potentially update their Santa Fe Preliminary Economic Assessment and continue advancing the project toward production throughout 2025, contributing to Nevada's mining economy and global gold supply.
