Lahontan Gold Corp. has reported initial analytical results from its 2025 Phase Two drilling program at the Santa Fe Mine Project in Nevada's Walker Lane region, revealing significant gold intercepts that expand mineralization beyond current resource boundaries. The company completed six reverse-circulation drill holes totaling 994 metres, with notable results from both the York and Slab zones that could impact future resource calculations and mine planning.
At the York zone, drilling intercepted 114.3 metres grading 0.33 grams per tonne gold equivalent, including a higher-grade section of 18.3 metres grading 0.90 g/t gold equivalent. This mineralization extends north of the current resource pit shell, potentially adding to the project's overall resource base. The Santa Fe Mine already contains a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 ounces gold equivalent and an Inferred Mineral Resource of 411,000 ounces gold equivalent, as detailed in the Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project available through the company's disclosures.
At the Slab zone, the company identified both shallow and deeper oxide gold intercepts that may support development of a deeper conceptual pit design. These results could contribute to additional resources in an updated Mineral Resource Estimate expected later this year. The technical content of these findings has been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., who serves as a Qualified Person as defined in National Instrument 43-101 standards.
The Santa Fe Mine project represents a significant gold and silver exploration property in mining-friendly Nevada, with historical production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit operations using heap-leach processing. The company plans to continue advancing the Santa Fe Mine toward production while updating the Preliminary Economic Assessment and conducting drill testing at its satellite West Santa Fe project during 2025. For additional information about the company's developments, investors can access updates through the company's newsroom at http://ibn.fm/LGCXF.
These drilling results matter because they demonstrate the potential for resource expansion at an established mining project with significant historical production. The expansion of mineralization beyond current pit boundaries and the identification of deeper oxide gold intercepts could substantially increase the project's economic viability and lifespan. As global demand for precious metals continues, successful exploration results at established projects like Santa Fe provide important indicators of future production potential in stable mining jurisdictions like Nevada.
