- Lahontan Gold Corp. (LG) has received bonanza grade gold drill results at the Santa Fe Project in Nevada
- One drill hole saw a standard bonanza grade
- Another hole was tested to show high-grade gold continuing from the Big Horn zone
- Lahontan has now identified three distinct high-grade gold zones
- Lahontan Gold Corp. (LG) is up 61.76 per cent trading at $0.27 per share as of 12:27 p.m. ET
Lahontan Gold Corp. (LG) has received bonanza-grade gold drill results while exploring the Santa Fe Project in Nevada.
The two resulting drill holes were finished late last year and targeted northwest areas from known gold and silver mineralization along the Santa Fe fault.
One drill hole saw a standard bonanza grade, and another hole was tested to show high-grade gold continuing from the newly discovered Big Horn zone. This zone hosts an intercept of 112.3 grams of gold per tonne which is the highest grade of gold in the project’s history.
The company stated it has now identified three distinct high-grade gold zones along nearly 800 metres of strike length on the Santa Fe fault that remain open at depth and to the northwest.
“The grades seen in the Bonanza and Big Horn zones are exceptional for a Carlin-style gold deposit… multiple high-grade targets northwest of the Bonanza zone and can also be applied elsewhere in the district as we search for additional high-grade mineralization,” Kimberly Ann, CEO, President, Director, and founder of Lahontan Gold Corp, said.
Lahontan stated there is potential for future mining of these high-grade zones, but it requires larger volumes to be discovered in these zones in order to continue to grow.
The company believes one of the holes is considered easily accessible as it is 140 metres below the bottom of the Santa Fe pit. In the Bonanza high-grade zone, two previous drill holes were drilled above the high-grade zone and missed the target, highlighting the value of “deeper” drilling.
Lahontan Gold Corp. (LG) is up 61.76 per cent trading at $0.27 per share as of 12:27 p.m. ET.