Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has announced additional drilling results from its 2026 program at the Santa Fe Mine Project in Nevada, highlighting a new gold discovery and further expanding the project’s resource potential. The company reported the first significant gold mineralization hosted within Tertiary volcanic rocks along the Summit Fault, a new exploration target, as well as additional high-grade oxide mineralization at the Calvada East resource area.
Drill hole CAL26-11R returned 13.7 meters grading 1.10 g/t gold equivalent (Au Eq), establishing the new discovery. Another hole, CAL26-12R, intersected 12.2 meters grading 1.26 g/t Au Eq near the base of the current resource pit shell. These results suggest that mineralization extends beyond the known resource boundaries, potentially adding to the project’s already substantial resource base.
Additionally, the company reported broad intervals of shallow oxide gold and silver mineralization at the Slab West exploration target. Drill holes CAL26-13R and CAL26-15R intersected 35.1 meters grading 0.21 g/t Au Eq and 18.3 meters grading 0.22 g/t Au Eq, respectively. Management noted that Slab West remains open in multiple directions, indicating the potential for further expansion.
The Santa Fe Mine project is Lahontan’s flagship property, covering 26.4 square kilometers in the Walker Lane of Nevada. The project has a past production history of 359,202 ounces of gold and 702,067 ounces of silver from open pit mines using heap-leach processing between 1988 and 1995. According to the company, the Santa Fe Mine has a National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 ounces Au Eq (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 Au Eq (16,760,000 tonnes grading 0.74 g/t Au and 3.25 g/t Ag), all pit constrained.
These latest results reinforce the district’s exploration potential beyond its current resource base. 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. Further assay results from recently completed drill holes are expected shortly.
The technical content of this news release has been reviewed and approved by Michael Lindholm, CPG, an independent consulting geologist and a Qualified Person as defined in National Instrument 43-101. For more information on the company and its projects, visit Lahontan Gold’s website. The full press release is available at https://ibn.fm/UQWit.
