Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) provided an update on its Santa Fe Mine Project in Nevada, confirming it remains on track to begin construction in 2027. The company expects to complete an updated mineral resource estimate within weeks and a revised preliminary economic assessment by the end of August 2026, both critical steps for state and federal permitting.
Lahontan reported completing 87 drill holes totaling 7,751 meters this year, with the newly identified Slab West gold discovery remaining open in all directions. Permitting work continues, including groundwater studies and waste rock characterization. Drilling is also underway to evaluate the potential reprocessing of historic heap leach pads as a low-cost source of future gold and silver production.
The company announced shareholder approval of a new restricted share unit and deferred share unit plan designed to support attraction and retention of key personnel. The Santa Fe Mine had 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.
According to the company’s NI 43-101 compliant technical report, the Santa Fe Mine has an Indicated Mineral Resource of 1,539,000 oz Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 tonnes grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained. The Technical Report is available on the company’s website and SEDAR+.
Lahontan Gold Corp. holds four top-tier gold and silver exploration properties in the Walker Lane of Nevada. The company plans to continue advancing the Santa Fe Mine project towards production, update the preliminary economic assessment, and drill test its satellite West Santa Fe project during 2025. For more information, visit www.lahontangoldcorp.com.
The full press release is available at https://ibn.fm/ohBUb.
