Lahontan Gold Corp (TSXV: LGO| TCQB: LGCXF) has announced results from the first four reverse-circulation rotary (RC) drill holes from its 7,000m drilling campaign exploring the Calvada pit area of the Santa Fe Mine Project in Nevada’s Walker Lane.
Past mining, historic drilling, and the company’s previous two drilling programs had outlined significant oxide domain gold and silver resources west of the Calvada open pit that remain open along strike and down-dip. The four drill holes reported, totaling 883m, targeted these potential extensions to gold and silver resources.
Highlights include:
- 38.1m grading 0.87g/t Au and 2.5g/t Ag (0.89g/t Au Eq) of oxide metallurgical domain mineralization in drill hole CAL23-004R, including 10.6m grading 2.02g/t Au and 2.4g/t Ag (2.04gpt Au Eq).
- 82.3m grading 0.68g/t Au and 2.0g/t (0.70g/t Au Eq) of oxide metallurgical domain mineralization in drill hole CAL23-001R, including 21.3m grading 0.93g/t Au and 1.9g/t Ag (0.95g/t Ag).
The first drill hole, coupled with earlier Lahontan drill results, shows that oxide gold and silver mineralization extends in a westerly direction from the Calvada pit along the Calvada Fault.
The second is a thick intercept that should help expand the scale of the conceptual pit shell used to constrain mineral resources in future resource estimates. This intercept also contains a higher-grade interval which may be indicative of the margin of a “feeder” structure. Oxide gold and silver mineralization remain open below CAL23-001R generating yet another target for resource expansion.
“These initial drill results confirm the presence of extensive oxide domain gold and silver mineralization west of the Calvada open pit. Modeling of this area during preparation of our mineral resource estimate (MRE) outlined multiple areas where new resources could be defined with in-fill and step-out drilling,” Lahontan CEO, Kimberly Ann commented.
“These drill results confirm this interpretation of the resource model and open new areas for additional drilling. In addition, the high gold and silver grades seen in drill hole CAL23-004R suggests that we may have identified an important ‘feeder’ zone for gold mineralization in the Slab-Calvada complex.”
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