Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) is advancing its Santa Fe Mine project in Nevada toward a planned 2027 restart, with the company reporting completion of 87 drill holes totaling 7,751 meters this year and a new gold discovery at Slab West that remains open in all directions. The company expects to release an updated mineral resource estimate within weeks and a revised preliminary economic assessment by the end of August 2026, key steps for state and federal permitting.
The Santa Fe 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. According to a National Instrument 43-101 compliant technical report, the property hosts an Indicated Mineral Resource of 1,539,000 ounces of gold equivalent (48,393,000 tonnes grading 0.92 g/t gold and 7.18 g/t silver) and an Inferred Mineral Resource of 411,000 ounces of gold equivalent (16,760,000 tonnes grading 0.74 g/t gold and 3.25 g/t silver).
Permitting work is progressing, including groundwater studies and waste rock characterization, while drilling is also evaluating the potential reprocessing of historic heap leach pads as a low-cost source of future gold and silver production. The company stated that these activities are on track to support a construction start in 2027.
In addition to operational updates, Lahontan announced shareholder approval of a new restricted share unit and deferred share unit plan aimed at attracting and retaining key personnel. The company noted that the Slab West discovery, identified during this year's drilling, remains open in all directions, suggesting further exploration upside.
The technical content of this news release has been reviewed by Michael Lindholm, CPG, an independent consulting geologist to Lahontan Gold Corp., who is a Qualified Person under National Instrument 43-101. For more information, visit the company's website at www.lahontangoldcorp.com.
The full press release is available at https://ibn.fm/ohBUb. For the latest news on LGCXF, visit the company's newsroom at http://ibn.fm/LGCXF.
