Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) reported additional results from its 2026 drilling program at the Santa Fe Mine project in Nevada, highlighted by a geotechnical diamond drill hole at the Calvada deposit that also intersected significant oxide gold mineralization. Hole CAL26-03C returned 30.8 meters grading 0.93 grams per tonne gold equivalent (“Au Eq”), including a higher-grade interval of 10.7 meters grading 2.18 g/t Au Eq. The company stated that the intercept ranks among the highest-grade results drilled to date within the Central Calvada deposit and supports confidence in advancing the project toward a targeted mine construction start in 2027.
Additional reverse-circulation drilling at the southern end of the Slab open pit encountered near-surface oxide mineralization, including 15.2 meters grading 0.40 g/t Au Eq and 9.1 meters grading 0.22 g/t Au Eq, helping define mineralization near the Calvada Fault. Lahontan said drilling continues across the Santa Fe project, with additional results expected from its RC program and Sonic drilling campaign evaluating historic stockpiles and heap leach pads as part of broader efforts to update the project’s mineral resource estimate, complete a preliminary economic assessment and advance permitting activities.
The Santa Fe Mine 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 utilizing heap-leach processing. According to a NI 43-101 technical report, the project has an 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. These results underscore the potential for the project to become a producing mine again, which would have significant implications for the local economy and the company's growth.
The importance of this announcement lies in the high-grade intercept at the Calvada deposit, which could enhance the project's economics and de-risk the development timeline. As Lahontan Gold continues its drilling and moves toward an updated resource estimate and preliminary economic assessment, the market will be watching for further confirmation of the project's viability. The company's progress also highlights the ongoing interest in Nevada's gold-rich Walker Lane region, which has historically been a prolific mining district.
For more information, visit the company's website at www.lahontangoldcorp.com.
