Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has announced a proposed drill program to test the historic Santa Fe East Waste Rock Storage Facility at its flagship Santa Fe Mine Project in Nevada’s Walker Lane. The program, consisting of up to 100 reverse-circulation drill holes averaging approximately 35 meters in depth, aims to evaluate the distribution, tonnage, and precious metal grades of an estimated 9 million tonnes of waste rock generated during mining operations between 1988 and 1992. With a historic mining cutoff grade of approximately 0.55 grams per tonne gold, the company believes material previously classified as waste may contain recoverable gold and silver mineralization suitable for heap leach processing. This initiative matters because it could unlock an additional source of production early in the mine life and potentially enhance the overall economics of the Santa Fe development plan. Lahontan noted that its recently announced preliminary economic assessment already includes moving the Santa Fe East WRSF to access underlying gold and silver resources, making the recovery of precious metals from this material a complementary opportunity.
The Santa Fe Mine project, spanning 26.4 square kilometers, 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. It hosts a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq and an Inferred Mineral Resource of 411,000 oz Au Eq, all pit constrained. The company plans to continue advancing the project towards production, update the preliminary economic assessment, and drill test its satellite West Santa Fe project during 2025. For more details, the full press release is available at https://ibn.fm/i8rBZ, and the company’s website is www.lahontangoldcorp.com.
The technical content of the news release has been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., a Qualified Person as defined in National Instrument 43-101. The announcement was disseminated on behalf of Lahontan Gold Corp. and may include paid advertising. This news is important for investors because it signals a potential low-cost pathway to supplement production from a historic waste material, which could improve project economics and extend the mine’s operational flexibility. The latest updates relating to LGCXF are available in the company’s newsroom at http://ibn.fm/LGCXF. The press release was distributed through InvestorWire, and additional information about the dissemination platform can be found at editorial syndication to 5,000+ outlets. Readers are encouraged to review the full terms of use and disclaimers at https://RocksAndStocks.news/Disclaimer.
