Welcome to our dedicated page for Lahontan Gold news (Ticker: LGCXF), a resource for investors and traders seeking the latest updates and insights on Lahontan Gold stock.
Lahontan Gold Corp (LGCXF) is a Canadian mine development and mineral exploration company with a focus on gold and silver projects in Nevada's Walker Lane. The company's flagship property, the Santa Fe Mine, has a rich history of production and holds significant mineral resources. Lahontan is engaged in updating technical reports, conducting drilling programs, and planning for future mine development, supported by a team of top mining consultancies.
Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) has announced its 2025 Phase One drilling program for the West Santa Fe gold and silver project in Nevada's Walker Lane, located 13 kilometers from its flagship Santa Fe Mine project. The company plans to drill 26 reverse-circulation holes, totaling 6,300 metres, to validate historic drilling and explore step-out targets.
The program aims to build upon previous drilling efforts, which comprised over 13,000 metres across 171 drill holes. These historic drilling results revealed a zone of shallow, oxidized gold and silver mineralization that could potentially form a minable mineral resource under NI 43-101 standards. Surface rock geochemistry has shown promising results, with grab samples grading up to 2.61 g/t gold.
The company will submit a Notice of Intent to the Bureau of Land Management for permits, utilizing existing roads for access and drill platforms to minimize surface disturbance.
Lahontan Gold Corp (TSXV: LG) (OTCQB: LGCXF) has successfully closed a non-brokered private placement, raising Cdn$720,000 through the issuance of 36,000,000 common shares at Cdn$0.02 per share. Additionally, Victoria Gold Corp has completed the sale of 42,132,139 common shares (17.4% ownership) to existing shareholders, including two prominent precious metals institutional investors.
The proceeds will be allocated as follows: 29% for general and administrative purposes, 29% for Santa Fe Mine project exploration, 17% for metallurgical testing and consultants, and 25% for exploration permitting. The shares issued in the offering will have a four-month hold period until June 5, 2025.
The company's CEO highlighted that the Victoria Sale removes a significant share overhang that had negatively impacted the stock price since Victoria's receivership announcement in August 2024. The transaction aligns management with key shareholders for the development of the Santa Fe Mine project.
Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) has announced the filing of an independent Technical Report and Preliminary Economic Assessment (PEA) for its Santa Fe Mine gold and silver project in Nevada. The report, titled 'Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project,' is effective December 10, 2024, and dated January 24, 2025.
The Technical Report, prepared in compliance with National Instrument 43-101, supports the company's previous disclosure from December 11, 2024, with no material differences noted. The document is now available on SEDAR+ and the company's website.
Lahontan Gold Corp (LGCXF) announced positive results from a Preliminary Economic Assessment (PEA) for its Santa Fe Mine gold-silver project in Nevada. The project shows an after-tax NPV5 of US$200.0M with a 34.2% IRR using spot metal prices of $2,705/oz gold and $32.60/oz silver. Key highlights include:
- Nine-year project life with total projected revenue of US$930.8M
- Pre-production capital costs of US$135.1M with 2.9-year payback
- Life-of-Mine strip ratio of 1.54
- Processing rate of 4.6 million tonnes per year
- Total gold equivalent production of 345.2k oz
The company targets 2026 for mine ground-breaking, with continued optimization, resource expansion drilling, and metallurgical refinements planned for 2025 alongside permitting activities.
Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) announced that the Ontario Superior Court of Justice has granted permission for Price Waterhouse Cooper (PwC), acting as Receiver, to proceed with the transfer of Victoria Gold Corp's common shares in Lahontan. The company has been coordinating with institutional and private investors to ensure an orderly transfer of these shares.
The transfer is expected to occur soon, which should help alleviate the overhang affecting Lahontan's equity investors. The company views this development as a significant step toward placing these shares with secure, long-term investors while continuing to focus on advancing the Santa Fe Mine towards production.
Lahontan Gold Corp has filed an independent Technical Report and updated Mineral Resource Estimate (MRE) for its Santa Fe Mine gold and silver project in Nevada. The report, effective October 9, 2024, and dated November 27, 2024, confirms the information previously disclosed in the October 15, 2024 news release with no material differences. The Technical Report is now available on SEDAR+ and the company's website. Lahontan expects to release a Preliminary Economic Assessment (PEA) of the Santa Fe Mine project in December 2024.
Lahontan Gold Corp has submitted its Santa Fe Mine project Exploration Plan of Operations (POO) to the Bureau of Land Management for approval. The submission includes comprehensive draft baseline study reports covering environmental aspects such as biology, wildlife, vegetation, and protected species, along with cultural, visual, hydrology, and socio-economic assessments. The company expects final POO approval by Q3 2025. Notably, all environmental and cultural baseline studies can be integrated into a future Mining Plan of Operation, which the company plans to submit in draft form to BLM in early 2025.
Lahontan Gold Corp. (TSXV:LG)(OTCQB:LGCXF) has announced an updated Mineral Resource Estimate (MRE) for its Santa Fe Mine in Nevada. The MRE shows significant increases in resources:
- Indicated Mineral Resources: 1,539,000 contained gold equivalent (Au Eq) ounces, a 38% increase from 2023
- Inferred Mineral Resources: 411,000 contained Au Eq ounces
- Project-wide average grade: 0.99 g/t Au Eq for Indicated and 0.76 g/t Au Eq for Inferred
- Shallow oxide resources at Slab-Calvada-York expanded dramatically, nearly doubling from 2023
The company plans to use this MRE for a Preliminary Economic Assessment (PEA) to examine resuming production using open-pit mining and heap leach processing. Lahontan is progressing with state-level mine permitting and federal land management processes.
Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) has announced promising results from metallurgical test work across all four deposits at its Santa Fe Mine project in Nevada. The study, conducted by Kappes, Cassiday and Associates, focused on cyanide-soluble gold analysis and preg-robbing potential. Key findings include:
- Calvada Deposit: 91.5% CN-soluble gold, up from 71% previously estimated
- York Deposit: Up to 91.0% CN-soluble gold, averaging 78.4% (previously 60%)
- Slab Deposit: 69.0% CN-soluble gold on average (previously 50%)
- Santa Fe Deposit: Moderate CN-soluble gold content
Importantly, only 3 out of 205 samples showed aggressive preg-robbing potential, indicating favorable conditions for future mine operations. The company plans additional testing to optimize recoveries and processing flow sheets for its upcoming Preliminary Economic Assessment.
Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) has announced promising results from five reverse-circulation rotary drill holes at its Santa Fe Mine project in Nevada. The drilling campaign targeted potential extensions to existing gold and silver resources and aimed to refine pit boundaries for an upcoming Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA).
Key highlights include:
- 48.8 metres grading 0.51 g/t Au Eq of shallow oxide mineralization in drill hole CAL24-007R
- 7.6 metres grading 2.22 g/t Au Eq in drill hole CAL24-009R
- Significant expansion of the mineralization footprint north of the Slab open pit
- Potential for resource expansion in the Slab pit area
The results will be incorporated into a new MRE block model, forming the basis for mining planning in the upcoming PEA, expected in September 2024.
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