Lahontan Drills 138.6m Grading 1.06 Gpt Au Eq at Santa Fe

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[{"type":"text","content":"Lahontan Drills 138.6m Grading 1.06 Gpt Au Eq at Santa FeTORONTO, ON / ACCESSWIRE / August 2, 2022 / Lahontan Gold Corp. (TSXV:LG)(OTCQB:LGCXF) (the \"Company\" or \"Lahontan\") is pleased to announce drill results from ten reverse-circulation rotary (\"RC\") drill holes exploring the Santa Fe pit area of the Company's 19 km2 Santa Fe Project in Nevada's Walker Lane. Eight drill holes, totaling 2,614 metres, are the final RC holes from the 2021 drilling campaign. These drill holes targeted down-dip plus northwest and southeast step outs from known gold and silver mineralization along the Santa Fe fault. Highlights include:SF21-015R and -016R: These two RC drill holes targeted expansion of known mineralization in the high-wall of the Santa Fe Pit between the Bonanza and Big Horn zones and were collared approximately 120 metres northwest of SF21-007R (please see map below). SF21-015R cut 138.6m grading 1.01 gpt Au and 3.4 gpt Ag (1.06 gpt Au Eq) while SF21-016R intercepted 102.1m grading 0.69 gpt Au and 1.7 gpt Ag (0.71 gpt Au Eq). These drill holes expand potential resources in this portion of the Santa Fe pit and define the extent of transitional mineralized rock.Kimberly Ann, CEO, President, Director, and Founder of Lahontan Gold Corp commented: \"The Company is excited to release the final results from our Phase One drilling program. In total, Lahontan drilled 9,410 metres in its 2021 Phase One drilling campaign resulting in the discovery of two new high grade \"feeder\" zones, Bonanza and Big Horn, the expansion of the BH high-grade zone, and impressive volumes of good grade shallow oxide and transition gold and silver mineralization at both the main Santa Fe pit target area and at the Slab target area (see cross sections of the Santa Fe Pit below). RC drilling has resumed at Slab, targeting more shallow oxide gold and silver mineralization. We remain on track to deliver our maiden resource estimate in 2022 and take the next steps to advance the Santa Fe Project back into production.\"Cross section through all 2021 Lahontan drill holes in the Santa Fe pit area. The 2021 drilling campaign was extremely successful in expanding the volume of gold and silver mineralization in areas adjacent to 0.17 gpt grade shell defined by previous drilling (shown in red above). Note how Lahontan drilling has opened-up potential new gold and si...

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