The Federal Bureau of Land Management has deemed Lahontan Gold Corp.'s Exploration Plan of Operations complete, allowing the Santa Fe Mine Project in Nevada to advance into full environmental assessment under the National Environmental Protection Act. This determination confirms completion of all baseline biological, cultural and historical studies, which can also support future mine planning. The plan provides for exploration across 12 square kilometers with more than 700 drill sites.
Lahontan anticipates completing the NEPA process and receiving final approval of the plan in Q4 2025, enabling a robust drilling campaign in 2026. The Santa Fe Mine project represents a significant development in Nevada's mining sector, with 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 project holds 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, all pit constrained. 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.
This advancement is crucial for the mining industry as it demonstrates regulatory progress for major mineral projects, potentially leading to increased domestic gold and silver production. The project's development could contribute significantly to Nevada's economy and strengthen North America's position in precious metals mining. Investors and stakeholders can find more information in the company's technical documentation available through regulatory filings.
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 additional details on the project's technical specifications, refer to the Preliminary Economic Assessment available through the company's regulatory disclosures.
