Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has reported additional results from its 2026 drilling program at the Santa Fe Mine Project in Nevada, revealing a new gold discovery and expanding the known mineralization at the Calvada East resource area. The company announced that drill hole CAL26-11R returned 13.7 meters grading 1.10 g/t gold equivalent (Au Eq), marking the first significant gold mineralization hosted within Tertiary volcanic rocks along the Summit Fault. This intersection establishes a new exploration target, suggesting that the geological potential of the Santa Fe district extends beyond the current resource boundaries.
In addition, drill hole CAL26-12R intersected 12.2 meters grading 1.26 g/t Au Eq near the base of the current resource pit shell, further validating the continuity of high-grade oxide mineralization. The company also reported broad intervals of shallow oxide gold and silver mineralization at the Slab West exploration target, where 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, and additional assay results from recently completed drill holes are expected shortly.
These results underscore the district-scale exploration potential of the Santa Fe Mine project, which already hosts a substantial resource base. According to the company's NI 43-101 Technical Report, the Santa Fe Mine 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. The project has a history of past production, having yielded 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines using heap-leach processing.
The new discovery along the Summit Fault is particularly significant because it opens up a new geological setting for mineralization, which could potentially add to the project's overall resource inventory. The company plans to continue advancing the Santa Fe project towards production, update the Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. The technical content of this news release has been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., who is a Qualified Person as defined in National Instrument 43-101.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company holding four top-tier gold and silver properties in the Walker Lane of Nevada. The company's flagship Santa Fe Mine project spans 26.4 square kilometers and is located in a mining-friendly jurisdiction. With these latest drilling results, Lahontan continues to demonstrate the potential for further resource expansion at Santa Fe, reinforcing its position as a promising development-stage gold company.
For more information on the company and its projects, visit Lahontan Gold Corp.'s website. The full press release is available at https://ibn.fm/UQWit.
