Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has announced further results from its 2026 Sonic core drilling program at the Santa Fe Mine Project in Nevada. The company reported that nine drill holes into a historic low-grade stockpile returned an average grade of 1.96 g/t gold equivalent (AuEq), including 1.64 g/t gold and 36.2 g/t silver. These results are significant because the stockpile, located adjacent to Heap Leach Pad Two, contains material that was previously mined and could potentially be reprocessed at a lower cost than mining and processing fresh rock.
The drilling program aimed to evaluate the grade and metallurgical characteristics of the stockpile material, which is part of Lahontan's strategy to optimize the economic viability of the Santa Fe Mine project. Notably, cyanide-soluble gold assays averaged 43% of corresponding fire assay values, indicating that the material may be amenable to conventional heap leach processing. This is a crucial finding, as it suggests that reprocessing the stockpile could be both technically and economically feasible, potentially adding a new revenue stream with minimal environmental impact and capital expenditure.
The Santa Fe Mine project is Lahontan's flagship property, spanning 26.4 square kilometers in the Walker Lane of Nevada. It has a history of production: between 1988 and 1995, open pit mines using heap-leach processing produced 359,202 ounces of gold and 702,067 ounces of silver. Current mineral resources include an Indicated Mineral Resource of 1,539,000 ounces of gold equivalent (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t AuEq) and an Inferred Mineral Resource of 411,000 ounces of gold equivalent (16,760,000 tonnes grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t AuEq), all pit-constrained. These figures are from the NI 43-101 compliant Preliminary Economic Assessment Technical Report, effective December 10, 2024.
The company's plans for 2025 include advancing the Santa Fe project towards production, updating the Preliminary Economic Assessment, and drilling its satellite West Santa Fe project. The positive results from the stockpile drilling could influence the upcoming PEA update, potentially improving the project's economics by incorporating reprocessing of this material.
Michael Lindholm, CPG, an independent consulting geologist and Qualified Person under National Instrument 43-101, reviewed and approved the technical content of this news release. He confirmed that the grades and ounces reported match those in the Technical Report.
The full press release is available at https://ibn.fm/F7hVP. For more information about Lahontan Gold Corp., visit their website at www.lahontangoldcorp.com.
