Lahontan Drills More Gold at Slab: 32.0m GRADING 0.65 gpt AuEq
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
NEWS RELEASE TSX.V LG, OTCQB LGCXF
Lahontan Drills More Gold at Slab: 32.0m GRADING 0.65 gpt AuEq
TORONTO, ON / ACCESSWIRE / December 6, 2022 / Lahontan Gold Corp. (TSX.V: LG, OTCQB:
LGCXF) (the “Company” or “Lahontan”) is pleased to announce results from an additional five reverse-
circulation rotary (“RC”) drill holes from the Company’s Phase Two drilling campaign exploring the Slab
pit area of the Company’s 19 km2 Santa Fe Project in Nevada’s Walker Lane. The five drill holes, totaling
1,111 metres, are the final drill holes of the Company’s Phase Two drilling campaign. The drill holes
targeted down-dip extensions of oxidized gold and silver mineralization east and northeast of the Slab pit.
Past mining and h istoric drilling had outlined significant potential oxide and transition domain resources
east of the Slab pit that remained open down dip from the pit. Highlights include:
• 32.0 metres grading 0.59 gpt Au and 4.4 gpt Ag ( 0.65 gpt Au Eq) of oxide and transition
metallurgical domain mineralization in drill hole CAL22-016R including 6.1 metres grading 1.18
gpt Au and 14.4 gpt Ag (1. 37 gpt Au Eq) . This drill hole, coupled with earlier Lahontan drill
results, shows that gold and silver mineralization extends in an easterly direction from the Slab pit
across a post-mineral fault, opening a large area for resource expansion. (Please see cross section,
location map, and table below).
• 62.5 metres grading 0.33 gpt Au and 2.6 gpt Ag (0.36 gpt Au Eq) of oxide mineralization in
drill hole CAL22-015R including 6.1 metres grading 1.04 gpt Au and 1.4 gpt Ag (1.06 gpt Au
Eq). This drill hole extends shallow gold and silver mineralization from the southeast corner of the
Slab pit, expanding resource potential.
West-East (left to right, please see map below) cross section through drill holes CAL21 -001C, CAL22-009R, and new drill hole
CAL22-016R east of the Slab pit, Santa Fe Project, Mineral County, Nevada. The interpreted 0.2 gpt Au grade shell (cross-hatched)
shows the stacked nature of the mineralization and greatly expands oxide and transition domain gold mineralization east of the Slab
pit and across a prominent po st-mineral fault. The drilling confirms the potential for additional shallow go ld and silver
mineralization north and east of the Slab pit.
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
Kimberly Ann, CEO, President, Director, and Founder of Lahontan Gold Corp commented: “ Lahontan is
excited to release the final results from our 2022 Phase Two reverse -circulation drilling campaign. The
entire program was successful in extending mineralization to the north and east of the Slab Pit and along
the Calavada Fault. The drilling also confirmed the important correlation between thick, tabular, gold and
silver mineralization and areas of low magnetic response. This correlation generates multiple large -scale
drilling targets throughout the property and underscores the huge size of the Santa Fe hydrothermal system.
The next benchmark for Lahontan will be the release of our maiden mineral resource estimate (“MRE”) for
the entire Santa Fe Project, expected early in Q1 2022. Work on the MRE is well underway and on
schedule”.
Drill hole location map with reduced to pole residual magnetics, Slab-Calvada pit area, Santa Fe Project, Mineral County, Nevada.
Drill Hole Total Depth
(m) From (m) To (m) Interval
(m) Au (gpt) Ag (gpt) Au Eq
(gpt) Metallurgical Domain
CAL22-012R 249.9 53.3 59.4 6.1 0.25 0.9 0.26 Oxide
and: 70.1 89.9 19.8 0.20 1.8 0.22 Oxide
CAL22-013R 249.9 33.5 44.2 10.7 0.20 8.9 0.32 Oxide
CAL22-014R 198.2 4.6 13.7 9.1 0.39 1.4 0.41 Oxide
and: 91.4 102.1 10.7 0.22 0.5 0.23 Oxide
CAL22-015R 199.6 21.3 83.8 62.5 0.33 2.6 0.36 Oxide
including: 50.3 56.4 6.1 1.04 1.4 1.06 Oxide
CAL22-016R 213.4 140.2 172.2 32.0 0.59 4.4 0.65 Oxide and Transition
including: 140.2 146.3 6.1 1.18 14.4 1.37 Oxide and Transition
and: 199.6 208.8 9.2 0.14 20.6 0.41 Oxide and Transition
*Notes: Au Eq equals Au (gpt) + (Ag gpt/75). Metallurgical recovery has not been factored as insufficient test-work is available to determine potential Ag recoveries.
True thickness of the intercepts shown above are estimated to be 90-95% of the drilled interval.
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
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, respectively. 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 20 th sample interval
at the drill rig to evaluate 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 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
analyses were performed on select drill holes u tilizing 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. is a Canadian mineral exploration company that holds, through its US subsidiaries,
three top -tier g old 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 continuing 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 Q1 2023. 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, CEO, President, and Director
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
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
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Except for statements of historic fact, this news release contains certain "forward-looking information" within the
meaning of applicable securities law. Forward -looking information is frequently characterized by words such as
"plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that
certain events or conditions "may" or "will" occur. Forward -looking statements are based on the opinions and
estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors
that could cause actual events or results to differ materially from those anticipated in the forward-looking statements
including, but not limited to delays or uncertainties with regulatory approvals, including that of the T SXV. There
are uncertainties inherent in forward -looking information, including factors beyond the Company’s control. The
Company undertakes no obligation to update forward -looking information if circumstances or management's
estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance
on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial
results is contained in the Company’s filings with Ca nadian securities regulators, which filings are available at
www.sedar.com