- Lahontan Gold Corp finalizes exploration plan for Santa Fe Operations, a significant milestone that qualifies the company for the National Environmental Policy Act (“NEPA”) assessment, a crucial step in ensuring environmentally responsible mining practices.
- LGC’s first phase 2025 drilling sets the tone for operational expansion with gold intercepts at York and a stacked zone of oxide gold mineralization at Slab Zone.
- These updates highlight the company’s broader mission: To explore and exploit its mineral reserve in Nevada, maximizing the production potential of the Santa Fe Mine while optimizing shareholder investments. This mission is underpinned by our commitment to sustainable and responsible mining practices, ensuring the long-term viability of our operations and the communities we operate in.
- Progress in permitting processes positions Lahontan for speedy production and portfolio growth in the coming year.
Lahontan Gold (TSX.V: LG) (OTCQB: LGCXF) is scaling up efforts at the Santa Fe Mine Project through impressive Phase One drill results and regulatory approvals. Known for its flagship Santa Fe Mine project and four silver and gold assets in the Walker Lane trend in Nevada, the company is expanding and exploring resources as it plans to begin production in earnest (https://nnw.fm/BjlNC).
The company received operational green light from the Bureau of Land Management, permitting it to commence environmental assessment. Latest drill results show that the Santa Fe mine field still has significant gold deposits to mine. These latest developments underscore Lahontan’s dual strategy of accelerating its permitting process and increasing its resource base, making it possible for more exploration in the short term and full-scale mine development in the foreseeable future (https://nnw.fm/8rSy8).
The global gold mining industry is at the forefront of the mining sector and is expected to reach 3,200 metric tonnes in production by 2025 as international investments in the sector increase. With an estimated size of over $1.5 trillion, the global mining market’s enduring value is built on gold’s legacy as an inflation hedge, store of wealth, and its use in electronics, jewelry, and technology. China, the USA, Russia, Australia, and Canada currently produce over 50% of the world’s total output. Most of the top mining companies globally are integrating satellite data and artificial intelligence into their operations to optimize production (https://nnw.fm/RiBgI).
With its base in one of the best mining areas globally, Lahontan has been expanding its resource base using a well-crafted strategy for development in the short term. As part of its plans for 2025, the firm intends to begin phase two drilling at Slab and York, drill test the West Santa Fe project, and work on the Santa Fe mine plan. These strategic initiatives are designed to increase our resource base, optimize our production processes, and position us for sustained growth and profitability in the years to come.
The progress made so far highlights Lahontan’s plan to make the Santa Fe Mine a leading producer of silver and gold in Walker Lane. Initial economic assessment carried out in 2024 shows a pre-tax Net Present Value of $265 Million and an impressive 41% Internal Rate of Return based on current gold valuation. The company has raised over $12.5 million since its 2022 initial public offering and boasts a solid management team that has successfully handled numerous high-value projects. With phase two drill plans already in the works for later in the year and a strong push for the expansion of Santa Fe’s gold resource, the company is well placed to give short-, medium-, and long-term return on investment for its shareholders.
For more information, visit the company’s website at www.LahontanGoldCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to LGCXF are available in the company’s newsroom at https://nnw.fm/LGCXF
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