Lahontan Drills More Shallow GOLD at Slab-Calvada: 25.9m Grading 2.55 Gpt Au
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
NEWS RELEASE TSX.V LG, OTCQB LGCXF
LAHONTAN DRILLS MORE SHALLOW GOLD at SLAB-CALVADA: 25.9m
GRADING 2.55 gpt Au
Toronto, Ontario – September 26, 2022 – Lahontan Gold Corp. (TSX.V: LG, OTCQB: LGCXF) (the
“Company” or “Lahontan”) is pleased to announce results from the first seven reverse-circulation rotary
(“RC”) drill holes of the Company’s Phase Two drilling campaign exploring the Slab-Calvada pit area of
the Company’s 19 km2 Santa Fe Project in Nevada’s Walker Lane. The seven drill holes, totaling 1,710
metres, targeted down-dip extensions of oxidized gold and silver mineralization along the Calvada fault
and northerly step-out drilling from the Slab pit. Historic drilling in both areas had outlined significant
potential oxide and transition domain resources. Highlights include:
• 25.9 metres grading 2.55 gpt Au and 3.4 gpt Ag (2.60 gpt Au Eq) of oxide and transition
metallurgical domain mineralization in drill hole CAL22-006R. This is the farthest north step-out
drill hole from the Slab pit, with gold mineralization starting at a depth of only 68.6 metres down-
hole (please see map and table below).
• 47.2 metres grading 0.78 gpt Au and 1.3 gpt Ag (0.80 gpt Au Eq) in drill hole CAL22-002R
including 32.0 metres grading 1.04 gpt Au and 1.4 gpt Ag (1.06 gpt Au Eq) of oxidized
mineralization down-dip along the Calvada fault, further expanding the envelope of oxide gold
mineralization along this important structure (please see map, cross section, and table below).
Kimberly Ann, CEO, President, Director, and Founder of Lahontan Gold Corp commented: “The Company
is excited about these first results from our 2022 Phase Two drilling campaign. The results from drilling
the northern extension of the Slab pit confirm that gold mineralization remains wide open in this direction
with excellent grades. The Calvada fault drilling continues to impress, with thick intervals of oxide gold
mineralization extending at depth along this district-scale structure. Drilling continues and Lahontan will
integrate these results into our upcoming maiden resource estimate for the entire Santa Fe Project”.
Drill hole location map with reduced to pole residual magnetics, Slab-Calvada pit area, Santa Fe Project, Mineral County, Nevada.
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
As can be seen in the drill hole location map above, our drone magnetic survey d ata clearly outlines a
magnetic low extending north from the Slab pit. Lahontan’s Phase Two drilling confirms that gold and
silver mineralization extends at least 200 metres north of the pit at shallow depths. The magnetic data
supports multiple drilling targets north and northwest of the Slab pit as well as along the Calvada fault,
highlighting the large resource potential of the Slab-Calvada area.
Drill Hole Total
Depth (m)
From
(m) To (m) Interval
(m)
Au
(gpt)
Ag
(gpt)
Au Eq
(gpt)
Metallurgical
Domain
CAL22-001R 243.8 105.2 115.8 10.6 0.42 7.4 0.52 Oxide
CAL22-002R 274.3 170.7 217.9 47.2 0.78 1.3 0.80 Oxide
including: 175.3 207.3 32.0 1.04 1.4 1.06 Oxide
CAL22-003R 228.6 102.1 125.0 22.9 0.41 1.4 0.43 Oxide
CAL22-004R 249.9 No Significant Intercepts
CAL22-005R 249.9 86.9 131.1 44.2 0.30 4.0 0.35 Oxide
including: 112.8 125.0 12.2 0.52 1.3 0.54 Oxide
CAL22-006R 204.2 68.6 94.5 25.9 2.55 3.4 2.60 Oxide/Transition
including: 77.7 88.4 10.7 4.13 3.3 4.17 Oxide/Transition
and: 175.3 181.4 6.1 0.68 3.2 0.72 Oxide/Transition
CAL22-007R 259.1 91.4 111.3 19.8 0.41 1.6 0.43 Transition
and: 146.3 161.5 15.2 0.72 0.9 0.73 Oxide
*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 85-95% of the drilled interval.
South-north (left to right, please see map above) cross section through drill holes CAL21-004C, -007C, and new drill hole CAL22-
002R in the Calvada fault zone, Santa Fe Project, Mineral County, Nevada. The grade shell outlining gold and silver mineralization
(shown in pink above) is based upon modeling historic drilling; CAL22-002R greatly expands oxide gold mineralization at depth
and confirms the potential for deeper resource expansion drilling along the Calvada fault.
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 20th 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 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. 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 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 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
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
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results is contained in the Company’s filings with Canadian securities regulators, which filings are available at
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