Lahontan Confirms Eastern Extension to Shallow Gold Mineralization at West Santa Fe
Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) has confirmed an eastern extension of shallow gold and silver mineralization at its West Santa Fe project in Nevada's Walker Lane, close to its Flagship Santa Fe Mine Project. Detailed fieldwork and reinterpretation of a previous magnetic geophysical survey have identified a nearly 1,000-meter extension of mineralization from the historic drilling area. The historic drilling included 171 drill holes totaling approximately 13,000 meters. The new findings increase the size and potential of the mineralized zone and generate new drilling targets. CEO Kimberly Ann emphasized the importance of this work for understanding the full potential of the project and mentioned plans to continue mapping and sampling to finalize drill targets.
- Nearly 1,000-meter extension of gold and silver mineralization confirmed.
- Historic drilling data shows 171 drill holes totaling approximately 13,000 meters.
- New findings significantly increase potential mineralized zone and drilling targets.
- Detailed fieldwork and reinterpretation of geophysical survey completed.
- Uncertainty in actual gold and silver quantities until further confirmatory drilling is done.
- Potential high costs of continued mapping, sampling, and drilling operations.
TORONTO, ON / ACCESSWIRE / June 18, 2024 / Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) (the "Company" or "Lahontan") is pleased to announce that it has confirmed an easterly extension of shallow gold and silver mineralization at the Company's West Santa Fe project located in Nevada's prolific Walker Lane only 13 kilometres from Lahontan's Flagship Santa Fe Mine Project. Detailed fieldwork, including geologic mapping, combined with reinterpretation of a previous magnetic geophysical survey, has confirmed a near 1,000 metre extension of gold and silver mineralization from the area of closely spaced historic drilling. The historic drilling, totally 171 drill holes for approximately 13,000 metres, defines shallow, oxidized, gold and silver mineralization in the area of the Mindora underground mine. The recently completed work shows that this zone of mineralization continues to the east, an area marked by numerous shallow adits, prospect pits, and outcrops of hydrothermally altered rock. Analysis of the historic drilling has already generated excellent targets for drilling, however, with this new extension to gold and silver mineralization confirmed, the size of the potential mineralized zone and drilling target is dramatically increased.
Kimberly Ann, Lahontan Founder, CEO, President, and Director commented: "The completion of this work at West Santa Fe is vital to understanding the full size and therefore potential of the West Santa Fe project. We will continue detailed mapping and sampling at West Santa Fe to finalize drill targets, especially in the area of this newly confirmed easterly extension to gold and silver mineralization. We have also completed modeling conceptual pit shells based on the historic drilling, this data will guide confirmatory drilling in the Mindora mine area. Overall, great progress at West Santa Fe".
About Lahontan Gold Corp.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 26.4 km2 Santa Fe Mine project, had past production of 345,000 ounces of gold and 711,000 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing (Nevada Bureau of Mines and Geology, 1995). The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,112,000 oz Au Eq (grading 1.14 g/t Au Eq) and an Inferred Mineral Resource of 544,000 oz Au Eq (grading 1.00 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report*). The Company will continue to aggressively explore Santa Fe during 2024 and complete a Preliminary Economic Assessment evaluating development scenarios to bring the Santa Fe Mine back into production. Quentin J. Browne, P.Geo., Consulting Geologist to Lahontan Gold Corp., is the Qualified Person for the Company and approved the technical content of this news release. For more information, please visit our website: www.lahontangoldcorp.com
* Please see the Santa Fe Project Technical Report, Authors: Trevor Rabb and Darcy Baker, P. Geos. Effective Date: December 7, 2022, Report Date: March 2, 2023. The Technical Report is available on the Company's website and SEDAR.
On behalf of the Board of Directors
Kimberly Ann
Founder, CEO, President, and Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Lahontan Gold Corp.
Kimberly Ann
Founder, Chief Executive Officer, President, Director
Phone: 1-530-414-4400
Email: Kimberly.ann@lahontangoldcorp.com
Website: www.lahontangoldcorp.com
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a varietyof risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com
SOURCE: Lahontan Gold Corp.
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