Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has reported the discovery of a new gold zone at its Santa Fe Mine Project in Nevada, along with results from geotechnical drilling that reinforce confidence in the project's resource model. The company disclosed the first drill results from its 2026 exploration program, identifying a previously unrecognized gold zone named "Slab West," located west of the Slab open pit.
The Slab West zone delivered multiple mineralized intercepts, including 35.0 meters grading 0.34 grams per tonne (g/t) gold equivalent and 61.0 meters grading 0.26 g/t gold equivalent. Importantly, the zone remains open in all directions, suggesting potential for further expansion. According to the company, this discovery could add significant new gold resources to the Santa Fe project, which already hosts a substantial NI 43-101 compliant resource.
In addition to the Slab West discovery, Lahontan reported results from geotechnical drill hole CAL26-02C at the Calvada deposit. The hole intersected 90.8 meters grading 0.44 g/t gold equivalent below the current Calvada resource pit shell, including a higher-grade interval of 12.3 meters grading 1.22 g/t gold equivalent. These results further support confidence in the existing resource model as the company advances toward permitting and a targeted mine construction timeline in 2027.
The Santa Fe Mine project, located in the Walker Lane of Nevada, had past production of 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 hosts an Indicated Mineral Resource of 1,539,000 ounces of gold equivalent (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag) and an Inferred Mineral Resource of 411,000 ounces of gold equivalent (16,760,000 tonnes grading 0.74 g/t Au and 3.25 g/t Ag), all pit constrained.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company focused on advancing its flagship Santa Fe project toward production. The company plans to update the Santa Fe Preliminary Economic Assessment and drill test its satellite West Santa Fe project during 2025. The technical content of this news release has been reviewed by Michael Lindholm, CPG, an independent consulting geologist and Qualified Person under NI 43-101. For more information, visit the company's website at www.lahontangoldcorp.com.
