- Lahontan Gold (TSXV:LG) increased the mineral resource estimate at its Santa Fe project in Nevada by 22 per cent, lifting the past-producing, open-pit asset past the 2-million-ounce mark.
- The mineral explorer and mine developer is advancing four gold and silver projects on Nevada’s prolific Walker Lane trend.
- Lahontan Gold stock has added 260 per cent year-over-year.
Lahontan Gold (TSXV:LG) increased the mineral resource estimate (MRE) at its Santa Fe project in Nevada by 22 per cent or 435,000 gold-equivalent ounces compared to the 2024 estimate, lifting the past-producing, open-pit asset past the 2-million-ounce mark.
The estimate details 1,195,000 gold-equivalent ounces indicated grading 0.78 grams per ton (g/t) and 1,190,000 ounces inferred averaging 0.61 g/t, with mineralization known to extend well beyond the conceptual pit offering numerous avenues for resource growth. Base-case metals prices were set at US$3,200 per ounce of gold and US$40 per ounce of silver, affording Lahontan ample flexibility with current spot prices.
This article is a journalistic opinion piece which has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.
According to Monday’s news release, for the remainder of 2026 Lahontan will focus on completing Santa Fe’s ongoing preliminary economic assessment (PEA) update, as well as additional drill testing, with eyes on breaking ground on mine construction in 2027. The junior miner also intends to publish a maiden resource estimate for its separate West Santa Fe project by year-end.
Leadership commentary
“Lahontan is excited by the results of this updated MRE for the Santa Fe mine, particularly the large growth in total resource ounces and the continued expansion of the shallow Slab and York oxide gold and silver deposits,” Kimberly Ann, Founder, Executive Chair, President and Chief Executive Officer of Lahontan Gold, said in a statement. “The MRE will form the basis of an updated PEA of the Santa Fe mine. The PEA will examine mining and process options utilizing low-cost open-pit mining and heap leach processing and very importantly, analyze the mining and processing of Santa Fe’s substantial sulfide resources as a second phase in future mine operations. Our technical consultants, Kappes, Cassiday and Associates and RESPEC Company, both based in Reno, Nevada, are well advanced at project planning, mine design, finalizing the process flow sheet and optimizing crushing throughput. The company will use the phase one oxide conventional leach mine plan to complete its State level mine permitting process and the company’s mine plan of operation with the Federal Bureau of Land Management. With the release of the updated MRE and the soon to be completed PEA, Lahontan continues its transition from mine developer to mine operator, targeting 2027 for mine construction at Santa Fe.”
About Lahontan Gold
Lahontan Gold is a mineral explorer and mine developer advancing four gold and silver projects in Nevada’s prolific Walker Lane trend.
Lahontan Gold stock (TSXV:LG) is up by 2.86 per cent on the news, trading at C$0.36 as of 9:37 am ET. The stock has added 260 per cent year-over-year.
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