Lahontan Drills 35 Metres Grading 1.05 G/T Au Eq Incl. 4.6 Metres Grading 3.14 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 35 METRES GRADING 1.05 g/t Au Eq incl. 4.6 METRES
GRADING 3.14 Au Eq at SANTA FE
Toronto, Ontario, September 12, 2023. Lahontan Gold Corp (TSXV:LG, OTCQB:LGCXF)
(the "Company" or "Lahontan") is pleased to announce results from an additional eight reverse-
circulation rotary (“RC”) drill holes from the Company’s 2023 Phase Three drilling campaign at the
Company’s 19 km2 Santa Fe Mine Project in Nevada’s Walker Lane. These drill holes were completed in
the Slab-Calvada Complex at the Santa Fe Mine where previous Lahontan drilling had outlined significant
oxide domain gold and silver resources (Canadian NI 43-101 compliant) that remained open along strike
and down-dip*. The eight drill holes reported herein, totaling 1,533 metres, targeted potential extensions to
these gold and silver resources. Highlights include:
• 35.0 metres grading 1.02 g/t Au and 3.6 g/t Ag (1.05 g/t Au Eq) of shallow mineralization in
drill hole CAL23-006R including 21.3 metres grading 1.37 g/t Au and 5.1 g/t Ag (1.42 g/t Au
Eq) also including 4.6 metres grading 3.05 g/t Au and 10.6 g/t Ag (3.14 gpt Au Eq). This drill
hole, and others completed by Lahontan (e.g. CAL23-006R highlighted below), intercepted
significant widths of oxide and transition metallurgical domain gold and silver mineralization
below the Mineral Resource Estimate (“MRE”) conceptual pit shell at Calvada Central. These drill
holes should expand the scale of the conceptual pit shell used to constrain mineral resources in
future resource estimates (please see location map, cross section, and table below).
• A shallow intercept of 21.4 metres grading 0.90 g/t Au and 6.1 g/t Ag (0.96 g/t Au Eq) in drill
hole CAL23-007R including 16.8 metres grading 1.07 g/t Au and 7.4 g/t Ag (1.14 g/t Au Eq)
also including 4.6 metres grading 2.07 g/t Au and 16.7 g/t Ag (2.21gpt Au Eq). This drill hole
bottomed in gold and silver mineralized rock and demonstrates that mineralization remains
unconstrained by drilling at depth in the Calvada Central area and further opens the Calvada Fault
area for resource expansion.
Kimberly Ann, Lahontan Founder, CEO, President, and Director commented: “The Calvada Central drill
holes (CAL23-005 through -010) successfully expanded the footprint of disseminated gold and silver
mineralization along the Calvada Fault, complimenting the excellent drill results from earlier this year on
the eastern portion of the structure (press release dated June 27, 2023). The Calvada Central drill holes hit
thick intervals of shallow +1.0 gpt Au Eq rock along with higher grade intercepts (e.g., 4.6m grading 3.14
gpt Au Eq (CAL23-005R, 76.2-80.8m) that are remarkably continuous from drill hole to drill hole. The
high-grade zones are enveloped with substantial intervals of +1.1 gpt Au Eq mineralization that potentially
can provide opportunities for pit optimization during the resource estimation and Preliminary Economic
Assessment (“PEA”) process. It is important to note that every drill hole reported today hit gold
mineralization, at or above potential cut-off grades. The Company is planning a MRE update and a PEA
for early next year while continuing to advance our newly acquired West Santa Fe Project to the drill-ready
stage.”
Two drill holes completed at the north end of the Slab resource (see plan map below), both intercepted gold
mineralization. Hole CAL23-011R cut a thick zone of gold mineralized rock (85.3m grading 0.33 gpt Au
Eq) and shows that the Slab resource extends to the north and remains open for further expansion.
* 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.
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
Plan view of the Calvada Central and Slab pit area, Santa Fe Mine, Nevada. The outline of the MRE conceptual pits are shown in
dashed red, which encompass both the current Slab and Calvada East pits. Resource blocks are color-coded for Au Eq grade in g/t.
The eight drill holes reported herein are shown with heavy green drill hole traces, the line of the cross section (below) is also shown.
The plan view map shows only Au Eq blocks that are within the conceptual pit and therefore included in the MRE.
The cross section above shows all Au Eq blocks modeled from historic drilling, both within and outside of the conceptual pit shell.
The drill hole coloration in the cross section uses the same grades as the resource blocks, but the value only includes g/t Au rather
than Au Eq. Historic drill holes (thinner trace with white collars) use the same coloration as reported drill holes.
The cross section demonstrates that gold and silver mineralization remains open down-dip from the high-
grade intercepts in CAL23-007R providing an excellent opportunity for resource expansion at Calvada.
CALVADA
PIT
CAL23-012R
Collars 2023
Trace 2023 Trace 2021-22
Collars 2021-22
CAL23-011R
Cross Section Line
CAL23-009R
CAL23-010R
Slab ResourcePit Outline
SLAB
PIT
Calvada Central
Resource Pit Outlines
Calvada
East
Resource Pit
Outline
CAL23-008R
CAL23-007R
CAL23-005R
CAL23-006R
Trace 2023 (previously reported)
Santa Fe Pit Slab Pit
Calvada
Pit
York
Pit
Map AreaSanta Fe Property Map
OPEN Down-dip
OPEN
OPENOPEN
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
Drill Hole Total Depth
(m)
From
(m)
To
(m)
Interval
(m) Au (g/t) Ag (g/t) Au Eq (g/t) Metallurgical
Domain
CAL23-005R 152.4 93.0 152.4 59.4 0.34 5.3 0.39 Oxide
including: 94.5 126.5 32.0 0.54 8.9 0.62 Oxide
also including: 94.5 103.6 9.1 0.95 24.2 1.16 Oxide
CAL23-006R 149.4 73.2 108.2 35.0 1.02 3.6 1.05 Transition
including: 73.2 94.5 21.3 1.37 5.1 1.42 Transition
also including: 76.2 80.8 4.6 3.05 10.6 3.14 Transition
CAL23-007R 173.7 97.5 118.9 21.4 0.90 6.1 0.96 Transition
including: 102.1 118.9 16.8 1.07 7.4 1.14 Transition
also including: 108.2 112.8 4.6 2.07 16.2 2.21 Transition
also: 141.7 163.1 21.4 0.61 1.6 0.63 Transistion
CAL23-008R 198.1 56.4 61.0 4.6 0.23 2.9 0.26 Transition
CAL23-009R 182.9 42.7 51.8 9.1 0.39 4.3 0.43 Transition
also: 118.9 141.7 22.8 0.22 3.3 0.25 Oxide
including: 137.1 141.7 4.6 0.67 0.6 0.68 Oxide
CAL23-010R 198.1 152.4 163.1 10.7 0.37 11.9 0.47 Transition
CAL23-011R 228.6 137.2 222.5 85.3 0.29 4.0 0.33 Transition
including: 190.5 214.9 24.4 0.50 6.6 0.56 Transition
also including: 202.7 205.7 3.0 1.20 5.3 1.25 Oxide
CAL23-012R 143.3 147.8 4.5 0.21 0.0 0.21 Transition
Notes: Au Eq equals Au (g/t) + ((Ag g/t/75)*0.66). Ag grade for calculating Au Eq is adjusted to consider historic metallurgical
recovery as described in the Santa Fe Project Technical Report*. True thickness of the intercepts is estimated to be 80-90% of the
drilled interval. Numbers may not total precisely due to rounding.
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 MEG, LLC
of Lamoille, Nevada (formerly Shea Clark Smith Laboratories of Reno, Nevada). Expected gold values are
0.188 g/t, 1.107 g/t, 10.188 g/t, and -0.005 g/t, respectively. CRM’s with similar grades are inserted as the
initial CRM’s run out. The coarse blank material comprised of commercially available landscape gravel
with an expected gold value of -0.005 g/t.
As part of the RC drilling QA/QC process, duplicate samples were collected of every 20th sample interval
at the drill rig to evaluate sampling methodology. Samples were collected from the reject splitter on the
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
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 analysis 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
or 50-element 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 (g/t).
About Lahontan Gold Corp.
Lahontan Gold Corp. is a Canadian 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 19 km2 Santa Fe Mine, 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 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), 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 2023 and begin the process of evaluating development scenarios to bring the
Santa Fe Mine back into production. Anthony Gesualdo, CPG, Consulting Geologist to Lahontan Gold
Corp., is the Qualified Person for the Company and approved the technical 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
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
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on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial
results is contained in the Company’s filings with Canadian securities regulators, which filings are available at
www.sedar.com