More Shallow Oxide GOLD: Lahontan Drills 21.0m Grading 0.93 Gpt Au Eq at Slab-Calvada
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
NEWS RELEASE TSX.V LG
MORE SHALLOW OXIDE GOLD: LAHONTAN DRILLS 21.0m GRADING
0.93 gpt Au Eq at SLAB-CALVADA
Toronto, Ontario – July 12, 2022 – Lahontan Gold Corp. (TSX.V: LG) (formerly 1246765 B.C. Ltd.)
(the “Company” or “Lahontan”) is pleased to announce drill results from the final three core drill holes
exploring the Slab-Calvada pit area of the Company’s 19 km2 Santa Fe Project in Nevada’s Walker Lane.
The three drill holes, totaling 552 metres, were completed in late 2021 and targeted down-dip extensions
of oxidized gold and silver mineralization along the Calvada fault. Historic drilling in this area outlined
significant potential oxide resources. Highlights include:
• 21.0 metres grading 0.89 gpt Au and 2.7 gpt Ag (0.93 gpt Au Eq) of oxidized mineralization in
drill hole CAL21-007C confirming oxidized precious metal mineralization over a vertical range of
over 150 metres (please see cross section and table below).
• 32.1 metres grading 0.54 gpt Au and 3.7 gpt Ag (0.58 gpt Au Eq) starting at a vertical depth of only
60 metres in drill hole CAL21-006C.
These three drill holes intercepted shallow, oxidized gold and silver mineralization along the Calvada fault
zone, an east-west trending structure that links the previously mined Slab and Calvada pits (please see map
below). Gold and silver mineralization crops out on the surface and now has been traced down-dip over a
vertical range of almost 200 metres; mineralization remains open at depth.
Drill hole CAL2-004C, 107.7 to 108.5m (353.5-356.0 feet); 0.8 metres grading 0.92 gpt Au, 1.3 apt Ag (0.94 gpt Au Eq). Gold
and silver mineralization is hosted by brecciated, leached, and oxidized limestone.
Kimberly Ann, CEO, President, Director, and Founder of Lahontan Gold Corp commented: “These drill
holes confirm the exciting oxide gold resource potential of the Calvada fault zone. Oxidized mineralization
extends to at least 200 metres depth and historic drilling suggests even greater depths of oxidation. As can
be seen in the cross sections, the topography of this area is very favo rable for a very low strip ratio in
potential open pit mining scenarios. With over 1,500 metres of strike length to explore, oxidized gold and
silver mineralization along the Calvada fault will be one focus of our 2022 drilling campaign which is
expected to begin shortly”.
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
Drill hole location map, Slab-Calvada pit area, Santa Fe Project, Mineral County, Nevada. Core drill holes CAL21-004C, 006C,
and 007C are highlighted in green. All 2021 drill results have now been received and reported for this area.
Drill Hole Total Depth
(m) From (m) To (m) Interval
(m) Au (gpt) Ag (gpt) Au Eq
(gpt)
Metallurgical
Domain
CAL21-004C 160.6 101.4 127.1 25.7 0.41 1.1 0.43 OXIDE
CAL21-006C 178.9 71.5 103.6 32.1 0.54 3.7 0.58 OXIDE
also: 136.2 144.3 8.1 0.52 2.0 0.55 OXIDE
CAL21-007C 212.5 130.2 151.2 21.0 0.89 2.7 0.93 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 and -007C 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, projected into the line of the cross section, now confirmed by Lahontan drilling.
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
South-north (left to right, please see map above) cross section through drill hole CAL21-006C 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, projected into the line of the cross section, confirmed and expanded by Lahontan drilling.
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
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
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 plans 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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