Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has announced three strategic additions to its management team as the company accelerates its transition from mine developer to mine builder, targeting a 2027 production restart at its flagship Santa Fe Mine in Nevada. The move underscores the company's commitment to advancing the project through permitting, mine planning, and ultimately construction and operations.
Tony Gesualdo rejoins Lahontan as Vice President of Exploration, a role he previously held from 2020 to 2023. During his prior tenure, Gesualdo was instrumental in contributing to the initial Mineral Resource Estimate at the Santa Fe Mine. His reappointment brings continuity and deep project knowledge as the company focuses on further resource definition and expansion.
Michael Kubel joins as Senior Mine Engineer, bringing over a decade of experience in Nevada open-pit gold mining and heap-leach operations, including significant roles at the Florida Canyon and Hycroft mines. Kubel's expertise will be critical in optimizing mine planning and designing the heap-leach operations that are central to the Santa Fe Mine's production strategy.
Jen Earle has been appointed to lead investor relations and business development. With two decades of experience in natural resources, capital markets, and investor engagement across the LSE, ASX, and TSX markets, Earle will strengthen Lahontan's communication with the investment community and support its growth initiatives.
Kimberly Ann, Founder, Executive Chair, CEO, and President of Lahontan Gold, stated that these additions enhance the company's technical, operational, and business development capabilities as it advances the Santa Fe Mine project. She emphasized the importance of a seasoned team to navigate the complexities of permitting and mine construction.
The Santa Fe Mine project holds significant past production history, with 359,202 ounces of gold and 702,067 ounces of silver produced between 1988 and 1995 via open-pit mining and heap-leach processing. The project boasts a National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 ounces of gold equivalent (Au Eq), and an Inferred Mineral Resource of 411,000 ounces Au Eq. These resources are pit-constrained and account for recovery.
The company plans to update the Preliminary Economic Assessment (PEA) for Santa Fe and drill test its satellite West Santa Fe project during 2025. These initiatives are aimed at de-risking the project and enhancing its economic viability as Lahontan moves toward a production decision.
The management team expansion comes at a pivotal time for Lahontan, as the company positions itself to capitalize on the growing demand for gold and silver, which are critical for various industrial applications and as safe-haven assets. The successful restart of the Santa Fe Mine could contribute to the local economy in Nevada, creating jobs and supporting the state's mining industry.
Investors and stakeholders can find more details in the full press release available at https://ibn.fm/uwoU5. For ongoing updates, the company's newsroom is accessible at http://ibn.fm/LGCXF.
The technical content of this release has been reviewed by Michael Lindholm, CPG, an independent consulting geologist and Qualified Person as defined by National Instrument 43-101. The Santa Fe Project Technical Report, with an effective date of December 10, 2024, is available on the company's website and SEDAR+.
