Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has mobilized a second drill rig to its Santa Fe Mine project in Nevada's Walker Lane after receiving approval for its exploration Plan of Operations. This approval opens access to more than 700 new drill locations across the company's land package, significantly expanding the exploration footprint.
The company also reported recent cyanide extractable analyses from the 2025 reverse-circulation program at West Santa Fe, which averaged 81% gold and 60% silver recoveries. These results support the project's heap-leach processing thesis, a key factor for potential economic viability. The Santa Fe Mine is not a conceptual target; it previously produced 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 through open pit mining and heap-leach operations.
In the current junior mining capital environment, exploration stories that once attracted financing on geological thesis alone are now required to demonstrate permitting visibility, infrastructure context, metallurgical results, and a realistic pathway toward production. Lahontan Gold fits this profile with a defined NI 43-101 resource base and a development pathway that management has publicly outlined.
The company's flagship project combines past production history with active permits and proven metallurgy, positioning it closer to production than many peers. The addition of a second drill rig is expected to accelerate exploration and resource definition efforts. For more information on Lahontan Gold Corp. and its projects, visit the company's newsroom at ibn.fm/LGCXF.
