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Lahontan Announces 1,112,000 oz Indicated and 544,000 oz Inferred Au Eq Maiden Mineral Resoure Estimate At Santa Fe
TORONTO, ON / ACCESSWIRE / January 17, 2023 / Lahontan Gold Corp. (TSX.V:LG)(OTCQB:LGCXF) (the "...
About this update from Lahontan Gold Corp.
[{"type":"text","content":"Lahontan Announces 1,112,000 oz Indicated and 544,000 oz Inferred Au Eq Maiden Mineral Resoure Estimate At Santa FeTORONTO, ON / ACCESSWIRE / January 17, 2023 / Lahontan Gold Corp. (TSX.V:LG)(OTCQB:LGCXF) (the \"Company\" or \"Lahontan\") is pleased to announce the maiden Mineral Resource Estimate (\"MRE\") for its flagship Santa Fe Mine, a past-producing open pit, heap leach gold and silver mine located in Mineral County, Nevada. The MRE for Santa Fe is based upon 1,275 drill holes totaling 125,435 metres, including 50 drill holes totaling 13,118 metres drilled by Lahontan since 2021.Highlights of the MRE include:Project-wide pit constrained Indicated Mineral Resources of 1,112,000 contained gold equivalent (\"Au Eq\") ounces and Inferred Mineral Resources of 544,000 contained Au Eq ounces (assumptions for Au Eq are described in the Notes to Tables 1 and 2).Project-wide average grade for the Indicated Mineral Resource is 1.14 g/t Au Eq; the average grade of the Project-wide Inferred Mineral Resource is 1.00 g/t Au Eq.Indicated Oxide Resources total 21.6 Mt grading 1.03 g/t Au Eq for 712,000 Au Eq ounces and Inferred Oxide Resources total 11.1 Mt grading 0.73 g/t Au Eq for 262,000 Au Eq ounces.The conceptual pit shells returned preliminary strip ratios (waste:ore) of 3.6:1 at the Santa Fe deposit and 2.3:1 at the Slab-Calvada-York Complex. Within both conceptual pits, gold and silver deposits crop out at the surface providing opportunities for rapid, low-cost mining operations.The MRE block model shows that gold and silver mineralization extends well beyond the conceptual pit shells, generating high-quality targets for additional drilling and resource growth.Kimberly Ann, Founder, CEO, and President of Lahontan Gold Corp commented: \"Lahontan is thrilled with the results of this MRE for the Santa Fe Mine, validating our business concept focusing on brownfield exploration and development opportunities. The MRE demonstrates the presence of a large, readily exploitable, oxide gold resource and importantly, higher-grade non-oxide gold resources. Shallow, good grade oxide gold mineralization in the high-wall of the Santa Fe pit and outcropping oxide resources in Slab-Calvada-York complex, give the Company a clear option for rapid mine development at a significant production rate. We intend to take advantage of the technical and metal...