Lahontan Gold Corp. has released an updated Mineral Resource Estimate for its flagship Santa Fe Mine in Nevada, expanding total project-wide pit-constrained resources by 22% over the October 2024 estimate.

The revised resource base totals 1,195,000 indicated gold equivalent ounces at an average grade of 0.78 g/t and 1,190,000 inferred gold equivalent ounces at an average grade of 0.61 g/t, representing a net increase of 435,000 contained ounces.

The updated estimate is backed by 1,275 drill holes totaling 136,515 metres, incorporating 103 holes totaling 23,805 metres drilled by Lahontan through May 2026. Oxide resources at the shallow Slab and York deposits grew by over 37% to 12.09 million tonnes grading 0.33 g/t indicated for 128,000 ounces, alongside 8.34 million tonnes grading 0.36 g/t inferred for 96,000 ounces. At the main Santa Fe deposit, resources increased by over 26%, comprising 31.15 million tonnes grading 0.99 g/t indicated for 993,000 ounces and 41.60 million tonnes grading 0.71 g/t inferred for 954,000 ounces.

“Lahontan is excited by the results of this updated MRE for the Santa Fe Mine, particularly the large growth in total resource ounces and the continued expansion of the shallow Slab and York oxide gold and silver deposits. The MRE will form the basis of an updated Preliminary Economic Assessment (“ PEA ”) of the Santa Fe Mine. With the release of the updated MRE and the soon to be completed PEA, Lahontan continues its transition from mine developer to mine operator, targeting 2027 for mine construction at Santa Fe.”

— Kimberly Ann, Founder, Executive Chair, CEO, and President

Lahontan plans to complete an updated Preliminary Economic Assessment incorporating the new Mineral Resource Estimate and sulfide resource processing options, and will file an independent National Instrument 43-101 Technical Report on SEDAR+ within the next 45 days.

Read the full announcement: Lahontan Announces 22% Increase in Mineral Resources at Santa Fe: 1,195,000 Au Eq oz Indicated, and 1,190,000 Au Eq oz Inferred