Lahontan Gold Corp. announced the signing of a binding term sheet on August 18, 2025, to acquire 27 unpatented lode mineral claims from Emergent Metals Corp. These claims, known as the York Claims, add approximately 2.1 square kilometers of mineral rights to the company's Santa Fe Mine Project in Nevada. The acquisition positions the claims immediately south and southeast of the existing York open pit and gold resource area.
A recent Preliminary Economic Assessment conducted for the Santa Fe Mine Project indicated that gold-silver mineralization extends toward the York Claims. This geological continuity suggests significant potential for resource expansion. The transaction is expected to facilitate the expansion of the York open pit and potentially increase the overall mineral resources in the region.
The Santa Fe Mine Project already hosts substantial mineral resources, with 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. These resources are pit-constrained and based on specific cut-off grades and metal price assumptions detailed in the technical report available through the company's filings.
For additional technical details, readers can access the full press release which provides comprehensive information about the acquisition terms and geological assessments. The company's technical disclosure has been reviewed and approved by Michael Lindholm, CPG, an independent consulting geologist who serves as a Qualified Person under National Instrument 43-101 standards.
This strategic acquisition aligns with Lahontan Gold's ongoing development plans for the Santa Fe Mine Project, which includes updating the Preliminary Economic Assessment and conducting drill testing programs throughout 2025. The addition of the York Claims represents a calculated expansion of the company's mineral rights portfolio in the productive Walker Lane mining district of Nevada.
