Disseminated on behalf of Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) and may include paid advertising.
- Lahontan recently reported initial assays from Lahontan’s maiden reverse-circulation drilling at the company’s satellite West Santa Fe project
- Management’s commentary explicitly tied the drilling to an investor-relevant milestone: Validating the historical database for future resource estimation work
- The company has also retained RESPEC Company LLC and Kappes, Cassiday & Associates to update the Santa Fe Mine Project technical report
Repeatable, shallow oxide drill success and a clear path to updated economics can be the combination that moves a gold developer from story to strategy for investors. Recent updates from Lahontan Gold (TSX.V: LG) (OTCQB: LGCXF) regarding activity at its Santa Fe project center on exactly that: new near-surface results that support potential resource growth, and the start of a formal update process for the project’s mineral resource estimate and preliminary economic assessment (“PEA”).
The company recently reported initial assays from Lahontan’s maiden reverse-circulation drilling at the company’s satellite West Santa Fe project, located about 13 kilometers from the Santa Fe Mine project. The report noted the first of six reverse-circulation drill holes completed at West Santa Fe, 593 meters total for the program so far, with additional results expected.
The headline value in this news for investors is the combination of thickness, grade and shallow depth in oxide material, along with explicit technical context on how the intercept relates to historic drilling and potential future resource work. Lahontan reported that drill hole WSF25-06R returned 54.9 metres grading 1.00 g/t gold equivalent from 24.4 to 79.3 meters, including 16.8 meters grading 1.75 g/t gold equivalent from 27.4 to 44.2 meters. The company noted that WSF25-06R was drilled at a -50-degree inclination and that the intercept begins at a depth from surface of only 19 meters, emphasizing the near-surface nature of the mineralization.
West Santa Fe is also a silver-rich system, and the company reported that individual silver intercepts range up to 176 g/t silver over 1.52 meters (28.96 to 30.48 meters). Importantly for a resource-growth narrative, the company described the intercept as “a shallow, thick, intercept of oxide gold mineralization confirming gold and silver mineralization reported in historic drill holes,” and it presented comparisons to historic drilling in the same zone.
Management’s commentary explicitly tied the drilling to an investor-relevant milestone: Validating the historical database for future resource estimation work. Founder and CEO Kimberly Ann noted that the company’s database contains “information on 171 drill holes totaling over 13,000 meters,” and she described validating that database “for use in future Mineral Resource Estimates” as “an important step in advancing West Santa Fe.” She also connected the satellite project to the broader Santa Fe investment case, stating that its proximity “makes the project an important part of the company’s strategy to grow gold and silver mineral resources that could potentially be exploited utilizing future mineral processing infrastructure at Santa Fe.”
In a second update, Lahontan Gold reported that it has retained RESPEC Company LLC and Kappes, Cassiday & Associates to update the Santa Fe Mine Project technical report, including a new mineral resource estimate and a new preliminary economic assessment. The company said the updated resource estimate will incorporate all drilling completed since October 2024 and will use new metallurgical data, mining costs, and revised gold and silver prices to design conceptual pit shells that constrain the estimate. After the updated resource is completed, the team is expected to focus on a revised PEA reflecting the new technical inputs and metal prices, with the resource update expected in the next few months and the PEA expected in the second quarter of 2026.
This update effort is intended to improve geological confidence as well as the project’s decision-ready framework. Ann said the company has additional drilling to incorporate, plus “a revised and very detailed three-dimensional geologic model, which will greatly aid gold and silver grade interpolation.” She also noted that the preliminary economic assessment process is vital because it creates an operational model to evaluate multiple mining scenarios across metal prices and generate key permitting-related inputs such as process throughput assumptions and waste rock tonnages.
In both updates, Lahontan reiterated core Santa Fe fundamentals. The project is a past-producing open-pit, heap-leach operation, reporting historical production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995. Lahontan also reported a Canadian National Instrument 43-101 compliant mineral resource for Santa Fe of 1,539,000 ounces gold equivalent in the indicated category and 411,000 ounces gold equivalent inferred, both pit-constrained, and it pointed readers to the Santa Fe technical reporting for details.
Taken together, the drilling update and the study-update announcement present a coherent Santa Fe narrative for investors: Ongoing near-surface oxide results that support the case for potential growth, alongside a defined timeline and consultant lineup for refreshing the resource and economic picture that underpins valuation.
For more information, visit the company’s website at www.LahontanGoldCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to LGCXF are available in the company’s newsroom at ibn.fm/LGCXF
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