Lahontan Drills 138.6m Grading 1.06 Gpt Au Eq at Santa Fe
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
NEWS RELEASE TSX.V LG, OTCQB LGCXF
LAHONTAN DRILLS 138.6m GRADING 1.06 GPT Au Eq AT SANTA FE
Toronto, Ontario – August 2 , 2022 – Lahontan Gold Corp. (TSX.V: LG , OTCQB: LG CXF) (the
“Company” or “Lahontan”) is pleased to announce drill results from ten reverse-circulation rotary (“RC”)
drill holes exploring the Santa Fe pit area of the Company’s 19 km2 Santa Fe Project in Nevada’s Walker
Lane. Eight drill holes, totaling 2,614 metres, are the final RC holes from the 2021 drilling campaign. These
drill holes targeted down -dip plus northwest and southeast step outs from known gold and silver
mineralization along the Santa Fe fault. Highlights include:
• SF21-015R and -016R: These two RC drill holes targeted expansion of known mineralization in
the high -wall of the Santa Fe Pit between the Bonanza and Big Horn zones and were collared
approximately 120 metres northwest of SF21 -007R (please see map below). SF21 -015R cut
138.6m grading 1.01 gpt Au and 3.4 gpt Ag (1.06 gpt Au Eq) while SF21-016R intercepted
102.1m grading 0.69 gpt Au and 1.7 gpt Ag (0.71 gpt Au Eq). These drill holes expand potential
resources in this portion of the Santa Fe pit and define the extent of transitional mineralized rock.
Kimberly Ann, CEO, President, Director, and Founder of Lahontan Gold Corp commented: “The Company
is excited to release the final results from our Phase One drilling program. In total, Lahontan drilled 9,410
metres in its 2021 Phase One drilling campaign resulting in the discovery of two new high grade “feeder”
zones, Bonanza and Big Horn, the expansion of the BH high-grade zone, and impressive volumes of good
grade shallow oxide and transition gold and silver mineralization at both the main Santa Fe pit target area
and at the Slab target area (see cross sections of the Santa Fe Pit below). RC drilling has resumed at Slab,
targeting more shallow o xide gold and silver mineralization. We remain on track to deliver o ur maiden
resource estimate in 2022 and take the next steps to advance the Santa Fe Project back into production.”
Cross section through all 2021 Lahontan drill holes in the Santa Fe pit area. The 2021 drilling campaign was extremely successful
in expanding the volume of gold and silver mineralization in areas adjacent to 0.17 gpt grade shell defined by pre vious drilling
(shown in red above). Note how Lahontan drilling has opened-up potential new gold and silver resources, especially in the newly
discovered high-grade zones and deeper portions of the BH zone.
BONANZA
BIG HORN
BH
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
Cross section through RC drill holes SF21-007R, SF21-008R, and SF21-015R through -018R, Santa Fe pit area, Santa Fe Project,
Mineral County, Nevada. These drill holes greatly expand the volume of gold and silver mineralized rock adjacent to the 0.17 gpt
Au grade shell defined by historic drilling (pink outline).
Central Santa Fe Pit Drill Holes: As noted above, RC drill holes, SF21-007R, -008R, -015R through -18R
targeted expanding potential resources in the central portion of the Santa Fe pit by stepping out into the pit
high-wall. While SF21 -008R was lost above the intended target, previously reported drill hole -007R
intercepted what may be the edge of more high -grade mineralization: 1.5m grading 3.50 gpt Au and 61.9
gpt Ag (4.33 gpt Au Eq, 240.8 – 242.3m). Drill holes SF21-015R and -016R successfully expanded the
volume of transition mineralization between the Big Horn and Bonanza high-grade zone (please see cross
sections above). Based on the silver grades, it appears that drill holes SF21 -015R and -016R drilled the
margins of the Big Horn high-grade zone, confirming tonnage potential of this important high-grade target.
Of note, SF21 -007R, -015R and -018R all bottomed in mineralized rock, emphasizing that the Santa Fe
deposit remains open at depth.
South-Southeast Extension of the Santa Fe Pit: RC drill holes SF21-010R through -013R were drilled to
further define the boundaries between transition mineralization and fresh rock south-southeast of the Santa
Fe pit. All four drill holes intercepted significant widths of mineralized material and confirmed suspected
boundaries of the metallurgical domains in this area.
Drill Hole Total Depth
(m) From (m) To (m) Interval
(m) Au (gpt) Ag (gpt) Au Eq
(gpt)
Metallurgical
Domain
SF21-010R 274.3 128.0 153.9 25.9 0.80 12.9 0.97 Fresh
SF21-011R 304.8 129.5 150.9 21.4 0.50 5.4 0.57 Fresh
SF21-012R 259.1 167.1 196.6 29.5 0.95 15.1 1.15 Fresh
SF21-013R 304.8 155.5 185.9 30.4 0.60 8.2 0.71 Fresh
SF21-015R 350.5 137.2 275.8 138.6 1.01 3.4 1.06 Transition & Fresh
SF21-016R 365.8 149.4 251.5 102.1 0.69 1.7 0.71 Transition & Fresh
SF21-017R 342.9 155.4 179.8 24.4 0.61 16.0 0.82 Transition
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
including: 164.6 169.2 4.6 1.65 54.8 2.38 Transition
253.0 342.9 89.9 0.79 2.2 0.82 Fresh
SF21-018R 411.5 175.3 204.2 28.9 0.97 12.1 1.13 Fresh
including: 189.0 193.6 4.6 2.93 26.7 3.29 Fresh
298.7 355.1 56.4 1.07 12.1 1.23 Fresh
*Notes: Au Eq equals Au (gpt) + (Ag gpt/75). Metallurgical recovery has not been factored as insuff icient test-work is available to determine potential Ag recoveries.
True thickness of the intercepts shown above are estimated to be 80 -90% of the drilled interval
Drill hole location map, Santa Fe pit area, Santa Fe Project, Mineral County, Nevada. Bright green drill hole traces are those
reported here, black traces were previously reported holes . The high-grade Bonanza, Big Horn and BH zones are outlined and
remain open down-dip and along strike. Line of long section is shown.
QA/QC Protocols:
Lahontan conducts an industry standard QA/QC program for its core and RC drilling programs. The QA/QC
program consisted of the insertion of coarse blanks and Certified Reference Materials (CRM) into the
sample stream at random intervals. The targeted rate of insertion was one QA/QC sample for every 16 to
20 samples. Coarse blanks were inserted at a rate of one coarse blank for every 65 samples or approximately
1.5% of the total samples. CRM’s were inserted at a rate of one CRM for every 20 samples or approximately
5% of the total samples. The standards utilized include three gold CRM’s and one blank CRM that were
purchased from Shea Clark Smith Laboratories (MEG) of Reno, Nevada. Expected gold values are 0.188
gpt, 1.107 gpt, 10.188 gpt, and -0.005 gpt, respect ively. The coarse blank material comprised of
commercially available landscape gravel with an expected gold value of -0.005 gpt.
As part of the RC drilling QA/QC process, duplicate samples were collected of every 20th sample interval
at the drill rig to e valuate sampling methodology. Samples were collected from the reject splitter on the
drill rig cyclone splitter. Samples were collected at each 95- to 100-foot (28.96 - 30.48m) mark and labeled
with a “D” suffix on the sample bag. No duplicates were submitted for core.
All drill samples were sent to American Assay Laboratories (AAL) in Sparks, Nevada, USA for analyses.
Delivery to the lab was either by a Lahontan Gold employee or by an AAL driver. Analyses for all RC and
core samples consisted of Au analys is using 30-gram fire assay with ICP finish, along with a 36 -element
geochemistry analysis performed on each sample utilizing two acid digestion ICP-AES method. Tellurium
CalvadaFault?
Santa Fe Fault Zone
Santa Fe Pit
SF21-015RSF21-016R
Cross Section Line
SF21-008R
SF21-018R
SF21-012R
SF21-013R
SF21-011R
SF21-010R
SF21-007R
SF21-017R
BONANZA
BIG HORN
BH
ATCHISON TA RG E T
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
analyses were performed on select drill holes utilizing ICP -MS method. Cyanide leach analyses, using a
tumble time of 2 hours and analyzed with ICP -AES method, were performed on select drill holes for Au
and Ag recovery. AAL inserts their own blanks, standards and conducts duplicate analyses to ensure proper
sample preparation and equipment calibration. We have all results reported in grams per tonne (gpt).
About Lahontan Gold Corp:
Lahontan Gold Corp. (TSX.V: LG; OTCQB: LGCXF) is a Canadian mineral exploration company that
holds, through its US subsidiaries, three top-tier gold and silver exploration properties in the Walker Lane
of mining friendly Nevada. Lahontan’s flagship property, the 19 km2 Santa Fe Project, is a past producing
gold and silver mine with excellent potential to host significant gold and silver resources (past production
of 375,000 ounces of gold and 710,000 ounces of silver between 1988 and 1992; Nevada Bureau of Mines
and Geology, 1996). Modeling of over 110,000 metres of historic drilling, geologic mapping, and
geochemical sampling outline both shallow, oxidized gold and silver mineralization as well as deeper high
grade potential resources. The Company is completing an aggressive 25,000 metre drilling program with
the goal of publishing a National Instrument 43 -101 (“NI 43-101”) compliant mineral resource estimate
in 2022. For more information, please visit our website: www.lahontangoldcorp.com
All scientific and technical information in this press release has been reviewed and approved by Quentin J.
Browne, P.Geo., Consulting Geologist to Lahontan Gold Corp., who is a qualified person under the
definitions established by National Instrument 43-101.
On behalf of the Board of Directors
Kimberly Ann
Founder, Chief Executive Officer, 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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