Lahontan Gold Launches 4,000-Meter Drill Program at Nevada's Santa Fe Mine
TL;DR
Lahontan Gold's drilling program aims to upgrade resources, potentially increasing asset value and positioning the company for mine planning and future production.
Lahontan Gold is using a track-mounted reverse-circulation drill rig to complete 25 holes totaling 4,000 meters to upgrade inferred resources to indicated category.
This drilling campaign advances responsible mineral development in Nevada, potentially creating future jobs and contributing to sustainable resource extraction practices.
Lahontan Gold is drilling at its historic Santa Fe Mine, which previously produced over 359,000 ounces of gold using heap-leach processing methods.
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Lahontan Gold Corp. has mobilized a track-mounted reverse-circulation drill rig and crew to its flagship Santa Fe Mine project in Nevada's Walker Lane district. The MPD-1500 rig will complete up to 25 drill holes totaling 4,000 meters, with the program focused on upgrading gold and silver resources from the Inferred to Indicated category and expanding overall resources at the Slab and York areas.
Executive Chair, Founder, and CEO Kimberly Ann described the program as vital as the company pivots from resource definition to mine planning and permitting in 2026. Vice President of Exploration Brian Maher is overseeing the drill campaign. The Santa Fe Mine project covers 26.4 km² and 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.
The project currently holds a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq and an Inferred Mineral Resource of 411,000 oz Au Eq, all pit constrained. 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 additional technical details, the Preliminary Economic Assessment, NI 43-101 Technical Report for the Santa Fe Project is available through the company's regulatory filings. The company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. The full press release detailing these developments can be accessed at https://ibn.fm/ZALOm, while corporate information is available at https://www.lahontangoldcorp.com.
Curated from InvestorBrandNetwork (IBN)
