Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has announced additional results from its 2026 drilling program at the Santa Fe Mine Project, revealing a new gold discovery and reinforcing the project's expansion potential. The company reported the first significant gold mineralization hosted within Tertiary volcanic rocks along the Summit Fault, as well as additional high-grade oxide mineralization at the Calvada East resource area.
The drill hole CAL26-11R returned 13.7 meters grading 1.10 g/t gold equivalent (Au Eq), establishing a new exploration target. Meanwhile, CAL26-12R intersected 12.2 meters grading 1.26 g/t Au Eq near the base of the current resource pit shell. These results highlight the potential for further resource growth at Santa Fe, which already hosts a substantial mineral resource.
In addition, the company reported broad intervals of shallow oxide gold and silver mineralization at the Slab West exploration target. 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 said the results reinforce the district's exploration potential beyond its current resource base, with Slab West remaining open in multiple directions and additional assay results from recently completed drill holes expected shortly.
These findings are significant as they expand the known mineralization at the Santa Fe project beyond the current resource areas. The Santa Fe Mine project, which 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, has 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, together grading 0.99 g/t Au Eq) 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, together grading 0.76 g/t Au Eq), all pit constrained.
The company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe 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.
For more information, visit the company's website at www.lahontangoldcorp.com. The full press release is available at https://ibn.fm/UQWit.
