Lahontan Drills Thick Continuous GOLD at Santa Fe: 226m Grading 1.22 Gpt Au and New High-Grade Zone
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
NEWS RELEASE TSX.V LG
LAHONTAN DRILLS THICK CONTINUOUS GOLD AT SANTA FE: 226m
GRADING 1.22 GPT AU AND NEW HIGH-GRADE ZONE
Toronto, Ontario – June 6, 2022 – Lahontan Gold Corp. (TSX.V: LG) (formerly, 1246765 B.C. Ltd.)
(the “Company” or “Lahontan”) is pleased to announce drill results from four additional core drill holes
exploring the Santa Fe pit area of the Company’s 19 km2 Santa Fe Project in Nevada’s Walker Lane. The
four drill holes, totaling 1,549 metres, were completed in late 2021. These drill holes targeted down-dip
step outs from known gold and silver mineralization along the Santa Fe fault, extensions of oxide and
transition mineralization southeast of the Santa Fe pit, and an easterly trending structure that may tie Slab
pit mineralization to the Santa Fe pit area. Highlights include:
• SF21-006c: This core drill hole intercepted continuous gold and silver mineralization over 226
metres (1.22 gpt Au) and the drill hole bottoms in mineralized rock. Within this intercept, Lahontan
has discovered a new high-grade zone (the “Bighorn Zone”) with the highest Au assays in project
history: up to 26.2 gpt Au and 61.0 gpt Ag (27.01 gpt Au Eq, 245.5 – 246.6m; please see table
below). This high-grade zone is separate from the BH Zone and suggests that multiple high-grade
feeder zones are present at the Santa Fe Project.
• SF21-008c: A step-out drill hole southeast of the Santa Fe pit, has successfully intercepted shallow
oxidized gold and silver mineralization (75 metres south of previously reported drill hole SF21-
004c). This drill hole demonstrates that additional oxide and transition mineralization is extensive
south and southeast of the Santa Fe pit, and underscores the resource potential of this area.
• SF21-007c and -009c: These two core drill holes targeted the projected extension of the Calvada
fault, an east-west trending structure that may tie together mineralization seen at the Slab-Calvada
area with the intensely gold and silver mineralized Santa Fe pit area. SF21-007c intercepted 64
metres grading 0.74 gpt Au Eq (please see table below) including up to 2.24 gpt Au E q in
transitional rocks (360.6 – 362.1m, 1.97 gpt Au and 19.7 gpt Ag). Although -009c appears to have
drilled over the main structure, the two holes confirm the potential of the C alvada fault zone
between the Santa Fe and Slab pits opening up over 1000 met res of potentially mineralized
structure.
Kimberly Ann, CEO, President, Director, and Founder of Lahontan Gold Corp commented: “The discovery
of a new high-grade zone northwest of the BH Zone suggests that there are multiple “feeder” structures at
the Santa Fe Project, opening up additional high-grade targets along the entire strike length of the Santa Fe
fault for hundreds of metres. The ubiquitous gold and silver mineralization seen in drill hole SF21-006c
extends well below any previous drilling and is a testament to the strength of the Santa Fe hydrothermal
system. Drilling results to date are validating our dual path exploration model at Santa Fe: Identify and
expand shallow oxide gold and silver mineralization while simultaneously building the scope and scale of
deeper, high-grade potential resources.”
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 (gpt) Ag (gpt) Au Eq
(gpt)
Metallurgical
Domain
SF21-006c 400.5 174.7 400.5 225.9 1.22 3.4 1.26 Transition & Fresh
including 237.7 247.7 9.9 3.5 9.5 3.62 Fresh
also includes 245.5 247.7 2.1 14.31 35.4 14.78 Fresh
also includes 359.7 375.7 16.0 2.29 1.5 2.30 Fresh
SF21-007c 416.4 335.6 399.6 64.0 0.66 5.4 0.74 Transition & Fresh
SF21-008c 227.4 38.7 56.7 18.0 0.40 2.2 0.43 Oxide & Transition
SF21-009c 504.4 413.6 426.1 12.5 0.41 8.0 0.51 Fresh
*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 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, darker green traces were previously reported holes, and black drill traces are pending. Line of long section is shown.
The latest drill results emphasize the importance of both structural and stratigraphic controls to precious
metal mineralization at Santa Fe. It is now apparent that structural intersections, e.g. the Santa Fe fault and
easterly-tending faults and splays like the Calvada fault, help localize high grades along their raking
intersections. Lahontan will apply this interpretation to further drilling northwest of SF21-006c (please see
map above). The entire drilled interval of Triassic Luning Formation limestone was mineralized in SF21-
006c and the hole bottomed in mineralized rock. Gold and silver mineralization occurs over tens of square
kilometres at Santa Fe. The combined areal and vertical distribution of mineralization points to a very large
system with multiple targets, both under cover and on the surface that remain to be tested.
Santa Fe Pit
SF21-006C
SF21-007C
SF21-008C
SF21-009C
Oxide
Potential,
Deeper
High-Grade
BH Zone
High Grade Zone
Dipping NE
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
Northwest-southeast (left to right, please see map above) long section through the newly discovered Bighorn high-grade zone,
Santa Fe Project, Mineral County, Nevada. The grade shell adjacent to the Bighorn high-grade zone is based upon modeling
historic drilling. Drill hole SF21-006c has intercepted new gold and silver mineralization in both the hanging-wall (above) and
the footwall (below) the grade shell, greatly expanding the resource potential of this part of the Santa Fe Project.
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).
SF21-009C
Santa Fe Pit
0.17 gptAu grade
shell generated from
previous drilling
SF21-007C
64m (335.6 -399.6m)
grading 0.66 gpt Au
and 5.4 gpt Ag (0.74
gpt Au Eq)
SF21-006C
225.9m (174.7 –400.5m)
grading 1.22 gpt Au and
3.4 gpt Ag (1.26 Au Eq)
TD in mineralization.
SF21-007CSF21-006C
SF21-007 and -009C
Show continuation of grade in a 150m
step outs, geochemistry indicates
intercepts at the top of system.
Looking Northeast
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
About Lahontan Gold Corp:
Lahontan Gold Corp. (TSX.V: LG) 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 3 75,000
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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