Lahontan Gold Corp. is progressing its past-producing Santa Fe Mine project in Nevada's Walker Lane region toward potential production, with the asset having outlined nearly 2 million ounces of gold equivalent resources. The Santa Fe Mine previously produced 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines using heap-leach processing. The project currently holds 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, all pit constrained. Mineral resources are reported using a cut-off grade of 0.15 grams per tonne gold equivalent for oxide resources and 0.60 grams per tonne gold equivalent for non-oxide resources, with gold equivalent calculations based on assumptions including a gold price of US$1,950 per ounce and silver price of US$23.50 per ounce.
The company's advancement involves active drilling at the West Santa Fe satellite project, ongoing permitting activities, and metallurgical work supporting upcoming economic studies. Lahontan Gold plans to continue moving the Santa Fe Mine project toward production, update the Santa Fe Preliminary Economic Assessment, and drill test the West Santa Fe project during 2025. The technical content of the company's disclosure 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 more information about the company's technical reports, investors can visit https://www.lahontangoldcorp.com where the Preliminary Economic Assessment and NI 43-101 Technical Report for the Santa Fe Project are available alongside SEDAR+ filings.
This progress represents a significant step in developing mineral resources within Nevada's mining-friendly jurisdiction, with the Walker Lane region having historical productivity for precious metals. The project's advancement matters because it represents potential revitalization of a previously productive mining operation with substantial remaining resources. With nearly 2 million ounces of gold equivalent already outlined and the company moving through critical development phases, successful progression could contribute to domestic mineral production and economic activity in Nevada. The company's systematic approach involving drilling, permitting, metallurgical work, and upcoming economic studies demonstrates a methodical path toward potential production decisions that could unlock significant mineral value in a historically productive mining region.
