Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) reported the first drill results from its 2026 exploration program at the Santa Fe Mine Project in Nevada, highlighting the discovery of a previously unrecognized gold zone west of the Slab open pit. The new "Slab West" zone returned multiple mineralized intercepts, including 35.0 meters grading 0.34 g/t gold equivalent and 61.0 meters grading 0.26 g/t gold equivalent, and remains open in all directions, suggesting potential for resource expansion.
The company also reported that geotechnical drill hole CAL26-02C intersected 90.8 meters grading 0.44 g/t gold equivalent below the current Calvada resource pit shell, including 12.3 meters grading 1.22 g/t gold equivalent. These results further support confidence in the project's existing resource model as Lahontan advances toward permitting and a targeted mine construction timeline in 2027.
The Santa Fe Mine project, covering 26.4 km² 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. The project currently hosts a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz 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 oz Au Eq (16,760,000 tonnes grading 0.74 g/t Au and 3.25 g/t Ag), all pit constrained.
According to the company, the Slab West discovery has the potential to add significant new gold resources at Santa Fe, while the Calvada results enhance confidence in the resource model as it moves toward a Preliminary Economic Assessment update and permitting. The company plans to continue advancing the Santa Fe Mine project towards production, with a targeted mine construction timeline in 2027.
Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp. and a Qualified Person as defined in National Instrument 43-101, reviewed and approved the technical content of the news release. The full press release is available at https://ibn.fm/PM6A8. For more information about Lahontan Gold Corp., visit www.lahontangoldcorp.com.
