Lahontan Gold Corp. (TSXV: LG | OTCQB: LGCXF) has announced an updated mineral resource estimate for its flagship Santa Fe Mine, a past-producing open pit, heap leach, gold and silver mine, located in Nevada’s prolific Walker Lane.
Kimberly Ann, founder, executive chair, CEO, and president of Lahontan Gold Corp commented, “Lahontan is excited by the results of this updated MRE for the Santa Fe Mine, particularly the large growth of indicated resources and the continued expansion of the shallow Slab and Calvada oxide gold and silver deposits. The MRE will form the basis of a preliminary economic assessment of the Santa Fe Mine.”
The MRE for Santa Fe is based upon 988 drill holes totaling 97,281m including 79 drill holes totaling 19,151m drilled by Lahontan since 2021.
Highlights of the MRE include:
- Project-wide pit constrained resources increase significantly: Indicated mineral resources of 1,539,000 contained Au Eq oz and inferred mineral resources of 411,000 contained AuEq oz
- Indicated resources increased by 427,000 AuEq oz compared to the 2023 MRE, an increase of 38%
- Project-wide average grade for the indicated mineral resource is 0.99g/t Au Eq; the average grade of the project-wide inferred mineral resource is 0.76g/t Au Eq
- Shallow Slab-Calvada-York oxide resources expand dramatically: Indicated oxide resources total 9.72Mt grading 0.65g/t Au Eq for 204,000 AuEq oz and inferred oxide resources total 11.55Mt grading 0.53g/t AuEq for 198,000 AuEq oz, accounting for 47% of the total oxide gold and silver resources at the project and nearly double the number ounces reported in the 2023 MRE
Additionally, the MRE block model shows that gold and silver mineralization extends well beyond the conceptual pit shells, generating high-quality targets for additional drilling and resource growth, especially the northern extension of the Slab deposit.
To find out more, please visit www.lahontangoldcorp.com
To read more articles like this, please visit www.theassay.com
