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.
About Lahontan Gold Corp (Symbol: LGCXF)
Lahontan Gold Corp is a Canadian-based mine development and mineral exploration company specializing in gold and silver properties located in the mining-friendly state of Nevada, USA. Through its U.S. subsidiaries, Lahontan holds a portfolio of four high-potential exploration properties situated within the prolific Walker Lane mineral belt, a region renowned for its rich deposits of precious metals. The company's flagship asset, the Santa Fe Mine project, is a past-producing open-pit gold and silver mine with a strong history of production and significant remaining resource potential.
Flagship Project: Santa Fe Mine
The Santa Fe Mine project spans 26.4 km2 and has a documented production history of 356,000 ounces of gold and 784,000 ounces of silver between 1988 and 1995, utilizing heap-leach processing. The project has been extensively explored, with over 97,000 meters of drilling completed across 988 drill holes. The latest Canadian National Instrument 43-101-compliant Mineral Resource Estimate (MRE) reveals an Indicated Mineral Resource of 1,539,000 ounces of gold equivalent (Au Eq) at an average grade of 0.99 g/t Au Eq and an Inferred Mineral Resource of 411,000 ounces of Au Eq at 0.76 g/t Au Eq, all pit-constrained. The property's shallow, oxidized deposits are particularly well-suited for heap-leach processing, a cost-effective extraction method that enhances project economics.
Exploration and Development Strategy
Lahontan Gold employs a strategic approach to exploration and development, focusing on brownfield projects like Santa Fe to leverage existing infrastructure and reduce exploration risks. The company has also identified additional opportunities for resource expansion at its West Santa Fe project, located just 13 kilometers from its flagship property. West Santa Fe has shown promising results, with historic drilling defining a shallow, oxidized gold and silver mineralized zone. The company's ongoing exploration efforts aim to validate and expand these resources, potentially increasing the overall scale and economic viability of its operations.
Competitive Position and Industry Context
Operating within the highly competitive mining sector, Lahontan Gold distinguishes itself through its focus on low-cost, high-recovery heap-leach processing and its strategic location in Nevada's Walker Lane, a region with established mining infrastructure and a favorable regulatory environment. The company's adherence to industry standards, including NI 43-101 compliance, underscores its commitment to transparency and technical rigor, enhancing its credibility with investors and stakeholders.
Key Highlights
- Flagship Santa Fe Mine project with significant resource potential and a history of past production.
- Four exploration properties located in Nevada's Walker Lane, a prolific gold and silver belt.
- NI 43-101-compliant Indicated Mineral Resource of 1,539,000 ounces Au Eq and Inferred Mineral Resource of 411,000 ounces Au Eq.
- Focus on cost-effective heap-leach processing for shallow, oxidized deposits.
- Strategic exploration of satellite projects like West Santa Fe to augment flagship operations.
Conclusion
Lahontan Gold Corp exemplifies a focused and strategic approach to mineral exploration and development, leveraging its expertise and key assets to unlock value in Nevada's Walker Lane. With its flagship Santa Fe Mine project and promising satellite properties, the company is well-positioned to capitalize on the growing demand for gold and silver, offering significant potential for resource expansion and economic development.
Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) has announced two significant updates. Firstly, Ms. Kimberly Ann, the company's Founder, CEO, President, and Director, has been appointed Executive Chair by the Board of Directors, effective immediately. Secondly, the company provided an update on the block of Lahontan common shares held by Victoria Gold Corp (VGCX).
Following a court order, PricewaterhouseCoopers Inc. has been appointed as the receiver and manager of VGCX's assets. As a result, the VGCX share block cannot be sold without court approval. Lahontan's management believes this will allow for an orderly sale of the Lahontan common shares held by VGCX. The company is actively working to assist in any potential sale process to ensure the best outcome for Lahontan shareholders.
Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) has announced the resignation of John McConnell from his positions as director and Chair of the Board of Directors. Kimberly Ann, the company's Founder, CEO, President, and Director, expressed gratitude for McConnell's service and wished him well in his future endeavors. This management change represents a significant shift in the company's leadership structure.
The press release does not provide details on the reasons for McConnell's departure or any immediate plans for his replacement. As this change could potentially impact the company's strategic direction and governance, investors and stakeholders may be keen to monitor further announcements regarding the composition of Lahontan's Board of Directors.
Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) has initiated metallurgical testing for its planned Preliminary Economic Assessment (PEA) of the Santa Fe Mine project in Nevada. The testing, conducted by Kappes, Cassiday and Associates, focuses on:
- Comminution test work for assessing crushing and abrasion characteristics
- Compacted permeability tests to determine cement requirements for agglomeration
- Pregnant solution robbing analysis to identify potential problem areas
Previous testing and mining operations at Santa Fe demonstrated excellent heap leach recoveries for gold (79%) and silver. The company aims to develop precise economic parameters for processing mineralized rock at Santa Fe, with the PEA expected to be completed in September 2024.
Lahontan Gold Corp (TSXV:LG, OTCQB:LGCXF) announced the results of its Annual and Special Meeting of Shareholders held on June 27, 2024. A total of 45.4% of the outstanding shares were represented. All matters submitted were approved by at least 98.3% of votes. This includes the election of all five management nominees to the board of directors, the re-appointment of PricewaterhouseCoopers LLP as auditors for the next year, and the re-approval of the company's 10% rolling stock option plan.
Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) has completed Phase Two of its 2024 drilling program at the Santa Fe Mine project in Nevada. This phase included five reverse-circulation drill holes totaling 1,044 meters, adding to the 11 RC drill holes totaling 2,347 meters completed in 2024. The drilling aimed to define open pit geometries for an updated Mineral Resource Estimate (MRE), extend mineralization at depth, and explore the Slab target area. Samples have been sent to the assay lab, with results expected soon. CEO Kimberly Ann highlighted the rapid and under-budget completion of the drilling and ongoing work on the Preliminary Economic Assessment (PEA), including site visits and cost studies.
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.
Lahontan Gold Corp (TSXV: LG, OTCQB: LGCXF) has completed Phase One of its 2024 drilling program at its flagship Santa Fe Mine project. The program included six reverse-circulation drill holes totaling 1,303 meters, focusing on the Slab and Calvada East target areas. Samples have been submitted to American Assay Laboratories for gold and silver analysis. One additional drill hole has been added to the Slab target area based on positive logging results. Phase Two of the drilling will commence later this week, with a Preliminary Economic Assessment (PEA) scheduled for completion in September. The company plans to provide ongoing updates on drill results, permitting, and PEA progress.
Lahontan Gold Corp (TSXV:LG, OTCQB:LGCXF) has mobilized a reverse-circulation drill rig to its Santa Fe Mine project in Nevada. The drill rig will begin operations immediately in the Slab open pit target area, with a planned drill program totaling approximately 3,000 meters. This effort aims to expand the project's Mineral Resource Estimate (MRE) and support a Preliminary Economic Assessment (PEA) planned for later this year. CEO Kimberly Ann stated that the company is accelerating its update of the MRE and has initiated scoping studies for the PEA. The company plans to provide updates on drill results, permitting, and PEA progress in the coming months.
Lahontan Gold Corp announces the grant of 9,100,000 options to purchase common shares at $0.08 per share for a period of five years to directors, officers, and consultants. The shares are subject to a four-month hold period from the grant date.
Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) announces a 3,000 meter drill program at Santa Fe Mine project in Nevada, following a successful 2023 campaign. This drilling aims to expand mineral resources, update the Mineral Resource Estimate, and support a Preliminary Economic Assessment. Mobilization of the drill rig is imminent, targeting areas with significant potential for project growth.
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