Lahontan Completes Phase TWO of 2024 Drilling at Santa Fe
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
NEWS RELEASE TSX.V LG, OTCQB LGCXF
LAHONTAN COMPLETES PHASE TWO OF 2024 DRILLING AT SANTA FE
Toronto, Ontario, June 25, 2024. Lahontan Gold Corp (TSXV:LG, OTCQB:LGCXF) (the
"Company" or "Lahontan") is pleased to announce that it is has completed Phase Two of its 2024 drilling
program at the Company’s Flagship Santa Fe Mine project located in Nevada’s prolific Walker Lane gold
and silver mineralized belt. Lahontan completed an additional five reverse-circulation (“RC”) drill holes
totaling 1,044 metres, three at the Slab target area and two at the Santa Fe open pit target. In total, Lahontan
has completed 11 RC drill holes totaling 2,347 metres at the Santa Fe Mine project in 2024. All samples
from the drilling have been delivered to the assay lab with initial results expected shortly. The drilling
successfully addressed all three objectives:
• Define open pit geometries that will be used in an updated Mineral Resource Estimate (“MRE”)
and block model. In several areas, additional drill holes were needed to increase drill hole density
in order to accurately define boundaries to gold and silver mineralization. This data will be used to
optimize open pit designs for the updated MRE, and mine scheduling/sequencing in the planned
Preliminary Economic Assessment (“PEA”).
• Certain drill holes were designed to extend gold and silver mineralization at depth below resource
blocks identified in the current MRE*. The purpose of these drill holes is to deepen and expand
the conceptual open pit designs to capture previously identified oxide gold and silver mineralization
in addition to new mineralization identified in the 2024 RC drilling program.
• Several step-out drill holes were also completed in the Slab target area where northerly extensions
to gold and silver mineralization remain open and unconstrained by drilling and geology.
Since Lahontan was founded in 2020, the Company has completed 79 drill holes totaling 19,152 metres.
In addition, 115,123 metres of drilling in 1,206 holes were completed prior to Lahontan acquiring the Santa
Fe Mine project; the historic drilling being an important component of the MRE.
Kimberly Ann, Lahontan Founder, CEO, President, and Director commented: “ Lahontan is excited to
complete the second Phase of our 2024 drilling campaign at Santa Fe. The drilling was completed rapidly
and under budget, a tribute to our geologic team and the excellent drill crew. Work on the PEA continues
at an accelerating pace, with site visits, scoping studies on capex and operating costs underway. We will
continue to update investors as the PEA progresses and when assay results from the 2024 drilling program
are received”.
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),
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
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 202 4 and complete a Preliminary
Economic Assessment evaluating development scenarios to bring the Santa Fe Mine back into production.
Quentin J. Browne, P.Geo., Independent Consulting Geologist to Lahontan Gold Corp., is the Qualified
Person for the Company and has the 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:
Website: www.lahontangoldcorp.com
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