Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has announced additional results from its 2026 drilling program at the Santa Fe Mine Project, revealing a new gold discovery and expanding the project's potential. The company reported the first significant gold mineralization hosted within Tertiary volcanic rocks along the Summit Fault, establishing a new exploration target, while also intersecting high-grade oxide mineralization at the Calvada East resource area.
Drill hole CAL26-11R returned 13.7 meters grading 1.10 g/t gold equivalent (Au Eq), marking a new discovery in volcanic rocks. Meanwhile, CAL26-12R intersected 12.2 meters grading 1.26 g/t Au Eq near the base of the current resource pit shell. These results indicate that gold mineralization extends beyond the known resource areas, suggesting the potential for resource expansion.
At the Slab West exploration target, the company reported broad intervals of shallow oxide gold and silver mineralization. Drill holes CAL26-13R and CAL26-15R intersected 35.1 meters grading 0.21 g/t Au Eq and 18.3 meters grading 0.22 g/t Au Eq, respectively. Management noted that Slab West remains open in multiple directions, and additional assay results from recently completed drill holes are expected shortly.
The significance of these findings lies in the confirmation that the Santa Fe district holds unexplored potential beyond its current resource base. The company's flagship Santa Fe Mine project, which had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995, already hosts a NI 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 tonnes grading 0.74 g/t Au and 3.25 g/t Ag).
These new drill results could lead to an expansion of the resource estimate and enhance the economic viability of the project. The discovery of gold in volcanic rocks along the Summit Fault opens up a new geological setting that was not previously considered, potentially adding significant tonnage to the project's mineral inventory.
Lahontan Gold is a Canadian mine development and mineral exploration company focused on advancing the Santa Fe project towards production. The company plans to update the Santa Fe Preliminary Economic Assessment and drill test its satellite West Santa Fe project during 2025. The technical content of this news release has been reviewed and approved by Michael Lindholm, CPG, an independent consulting geologist and Qualified Person as defined in National Instrument 43-101.
For more information about Lahontan Gold Corp., visit the company's website at www.lahontangoldcorp.com. The full press release is available at https://ibn.fm/UQWit. Investors can also follow the latest updates on LGCXF in the company's newsroom at http://ibn.fm/LGCXF.
