Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has announced additional drilling results from its 2026 program at the Santa Fe Mine Project in Nevada, which not only confirm high-grade oxide mineralization at the Calvada East resource area but also unveil a new gold discovery hosted in Tertiary volcanic rocks along the Summit Fault. This development is significant because it expands the known mineralization beyond the current resource base, potentially enhancing the project's economics and mine life.
The company reported that drill hole CAL26-11R returned 13.7 meters grading 1.10 g/t gold equivalent (Au Eq), establishing a new exploration target within the volcanic rocks. Meanwhile, CAL26-12R intersected 12.2 meters grading 1.26 g/t Au Eq near the base of the current resource pit shell, indicating the potential for resource expansion at depth. These results are particularly important as they demonstrate the presence of gold in geological settings not previously included in the resource estimate, which could lead to an updated resource and a revised preliminary economic assessment.
Additionally, broad intervals of shallow oxide gold and silver mineralization were encountered at the Slab West target, with drill holes CAL26-13R and CAL26-15R intersecting 35.1 meters grading 0.21 g/t Au Eq and 18.3 meters grading 0.22 g/t Au Eq, respectively. The company noted that Slab West remains open in multiple directions, suggesting further expansion potential. These findings reinforce the district-scale opportunity at Santa Fe, which already hosts a NI 43-101 indicated mineral resource of 1,539,000 ounces Au Eq and an inferred resource of 411,000 ounces Au Eq.
The implications of these results are substantial for Lahontan Gold. The discovery of new mineralization along the Summit Fault and the expansion of oxide mineralization at Slab West could significantly increase the project's resource base and improve its economic viability. The company is planning to update the Santa Fe Preliminary Economic Assessment and continue drill testing its satellite West Santa Fe project in 2025. With additional assay results pending from recently completed drill holes, the company is poised to further delineate these new targets.
Lahontan Gold is a Canadian mine development and exploration company focused on advancing its flagship Santa Fe Mine project in the Walker Lane of Nevada. The project has a history of past production and is situated in a mining-friendly jurisdiction. The company's strategic drilling program aims to unlock the full potential of the district, which could lead to a longer mine life and enhanced shareholder value.
For more information on Lahontan Gold and its projects, visit the full press release or the company's website at www.lahontangoldcorp.com.
