Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) announced it will soon commence sonic core drilling of historic heap leach pads at its Santa Fe Gold Mine Project in Nevada's Walker Lane. Permits are expected shortly, with mobilization of a Boart Longyear LS 450 rig to follow. The program includes 95 holes totaling 1,740 meters to evaluate potential gold and silver resources from pads that previously supported production of approximately 359,000 ounces of gold and 700,000 ounces of silver.
The company highlights the potential for low-cost reprocessing to enhance project economics and support its strategy to expand resources, cash flow, and long-term production. The Santa Fe Mine project, covering 26.4 km², had past production between 1988 and 1995 from open pit mines utilizing heap-leach processing. According to a Canadian National Instrument 43-101 compliant 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).
The planned drilling of the heap leach pads is a strategic move to assess the potential for recovering additional metals from material already mined and processed. This approach could significantly lower capital and operating costs compared to developing new mining areas, as the material is already extracted and stacked. The company intends to update the Santa Fe Preliminary Economic Assessment and drill test its satellite West Santa Fe project during 2025.
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 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. For more information, visit the company's website at www.lahontangoldcorp.com.
The full press release is available at https://ibn.fm/8wX1H. The latest news and updates relating to LGCXF are available in the company's newsroom at http://ibn.fm/LGCXF.
