Lahontan GOLD Begins Metallurgical Testing FOR Santa Fe PEA
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
NEWS RELEASE TSX.V LG, OTCQB LGCXF
LAHONTAN GOLD BEGINS METALLURGICAL TESTING FOR SANTA FE PEA
Toronto, Ontario, July 16, 2024. Lahontan Gold Corp (TSXV:LG, OTCQB:LGCXF) (the
"Company" or "Lahontan") is pleased to announce that it has commenced metallurgical testing in support
of its planned Preliminary Economic Assessment (“PEA”) of its Santa Fe Mine project (“Santa Fe”) located
in Nevada’s prolific Walker Lane gold and silver mineral belt. Previous test work and mining at Santa Fe
established excellent heap leach recoveries for gold and silver (e.g. 79% gold recovery in the Santa Fe
deposit, please Lahontan press release dated January 22, 2024). This test work, being conducted by Kappes,
Cassiday and Associates (“KCA”) of Reno, Nevada, is focused on developing precise economic parameters
for processing gold and silver mineralized rock at Santa Fe:
1. Comminution test work – for assessing crushing and abrasion characteristics of mineralization at
the Santa Fe, Slab and Calvada deposits in order to determine crushing costs, electrical
consumption, etc.,
2. Compacted permeability – for determining cement requirement for agglomeration for Santa Fe,
Slab and Calvada deposits,
3. Pregnant solution robbing (“preg robbing”) analysis – on selected mineralization types/areas of
the Santa Fe deposit to identify/eliminate any potential problem areas for preg robbing in the
deposit.
The Company is focused on developing the best cost/metallurgical data set available to support the PEA
of returning the Santa Fe Mine project back into production.
Kimberly Ann, Lahontan Gold Corp. CEO, President, and Founder commented: “We already know that
heap leach gold and silver recoveries are excellent at Santa Fe based on previous metallurgical testing
plus the mining and processing of nearly 16M tonnes of gold and silver mineralized rock during previous
mine operations (please see Lahontan press release dated January 22, 2024). The comminution and
compacted permeability studies will give us precise cost estimates for our PEA, expected to be completed
in September 2024. The goal is to produce a PEA that is detailed, accurate, and a report that will
highlight the full economic potential of the Santa Fe Mine project.”
About Lahontan Gold Corp.
Lahontan Gold Corp. is a Canadian mine development and 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 26.4 km2 Santa Fe Mine project, 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 a 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 202 4 and complete a Preliminary
Economic Assessment evaluating development scenarios to bring the Santa Fe Mine back into production.
The technical content of this news release and the Company's technical disclosure has been reviewed and
approved by Quentin J. Browne, P.Geo., Independent Consulting Geologist to Lahontan Gold Corp., who
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
is a Qualified Person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral
Projects. 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
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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