Disseminated on behalf of Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) and may include paid advertising.
- Lahontan Gold is planning to bring the past-producing Santa Fe mine in Nevada back into operation and expected to receive final construction approval by the end of 2026 or in early 2027.
- The company has had successful drilling results at the flagship Santa Fe mine, but the West Santa Fe project has also delivered impressive results.
- Lahontan recently announced that the company is mobilizing a second drill rig to Santa Fe, to focus on drilling areas that have seen little to no exploration drilling.
Lahontan Gold (TSX.V: LG) (OTCQB: LGCXF), a mine exploration and development company, is looking to breathe new life into the past-producing Santa Fe mine in Nevada. It has not only a strong history in mining, dating back to the late 1980s and early 1990s, but also plenty of future potential.
Lahontan’s land package in Walker Lane has had strong infrastructure in place, such as three wells, secured water rights, a substation, and a road that’s accessible all year. The previously reported resource of just under two million ounces is already history from the company’s perspective, as an update is planned in the coming weeks and is likely to report a significantly higher number.
This potential update is not solely due to mining success, but also a strategic land acquisition, as Lahontan secured 27 additional claims in the historic York Mine.
However, that’s not to say that recent drilling results haven’t also been successful. In fact, at the York Deposit, 114 m of 0.33 g/t gold equivalent was encountered at a depth of 76 m, including 18 m of 0.9 g/t. At the Slab deposit, 68 m of 0.45 g/t gold equivalent was drilled at a depth of 45 m.
Another value driver in this area are the old waste dumps. In the past, the cutoff grade was 0.56 g/t, and what remained was material around 0.33 g. When gold prices were low this wasn’t interesting, but today, is a source of real value. Beneficial to Lahontan is that Nevada in general is one of the most important gold mining jurisdictions in the world, with the Walker Lane region specifically getting plenty of interest thanks to its high-grade mineralization and underexplored potential.
The company has a feasible, yet ambitious, roadmap in place, and expects to get final construction approval by the end of the year or by the first quarter of 2027 at the latest.
Gold is a haven asset, and with ongoing geopolitical uncertainties, many people are turning to gold to hedge or limit other losses in their portfolios. As a result, many exploration companies are racing to bring new projects online in the industry.
Elements that benefit from long-term trends such as battery storage, global electrification and the rapid growth of artificial intelligence infrastructure, particularly silver, may hold a unique position in the resource sector, supported by both strong industrial demand and its longstanding role as a monetary metal.
Considering new projects, Lahontan Gold is also focusing on just a short distance from Santa Fe, called West Santa Fe. Drill holes at this location have also delivered promising results, as the most recent drilling report mentions 36.6 m with 3.11 g/t gold equivalent from surface, including 10.7 m with 5.75 g/t. Overall, management sees the potential for 0.5 to 1 million ounces of gold and silver at West Santa Fe.
However, the company is still putting plenty of focus on the flagship Santa Fe project. In fact, the Lahontan recently announced that the company is mobilizing a second drill rig to Santa Fe. The new drill rig will focus on drilling areas of the project that have seen little to no exploration drilling so far.
For more information, visit the company’s website at www.LahontanGoldCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to LGCXF are available in the company’s newsroom at ibn.fm/LGCXF
