Cyanide extraction testing from Lahontan Gold Corp.'s 2025 reverse-circulation drilling program at the West Santa Fe project demonstrated high recovery rates, with gold averaging 81% and silver 60%, exceeding prior metallurgical projections. These results validate historical and recent testing while reinforcing the project's amenability to cost-effective recovery methods. The findings support continued exploration aimed at expanding the mineralized footprint ahead of a planned Mineral Resource Estimate later this year.
The significance of these results lies in their confirmation that the West Santa Fe project can utilize heap-leach processing, a method historically successful at the company's flagship Santa Fe Mine property. Between 1988 and 1995, the Santa Fe Mine produced 359,202 ounces of gold and 702,067 ounces of silver from open pit mines using heap-leach processing. The technical content of this announcement 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.
For investors and the mining industry, these results indicate potential for efficient resource extraction at West Santa Fe. The Santa Fe Mine currently has 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, all pit constrained. The company plans to continue advancing the Santa Fe Mine project toward production while updating the Santa Fe Preliminary Economic Assessment and drilling its satellite West Santa Fe project during 2025.
The recovery rates exceeding projections suggest that Lahontan Gold may be able to extract more value from the West Santa Fe project than initially anticipated using established, cost-effective methods. This development comes as the company prepares for a planned Mineral Resource Estimate later this year, which will provide more definitive data on the project's economic potential. Additional technical details are available in the "Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project" with an effective date of December 10, 2024.
These metallurgical results have implications for the broader mining sector in Nevada's Walker Lane region, where Lahontan holds four top-tier gold and silver exploration properties. Successful heap leach processing at West Santa Fe could demonstrate the continued viability of this extraction method in the region, potentially influencing development approaches at similar projects. The company's progress can be followed through its corporate communications at http://ibn.fm/LGCXF.
