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Lahontan Drills 41 metres Grading 0.90 g/t Au Eq incl. 16.8 metres Grading 1.41 g/t Au Eq at Santa Fe
TORONTO, ON / ACCESSWIRE / July 9, 2024 / Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) (the " Com...
About this update from Lahontan Gold Corp.
[{"type":"text","content":"Lahontan Drills 41 metres Grading 0.90 g/t Au Eq incl. 16.8 metres Grading 1.41 g/t Au Eq at Santa FeTORONTO, ON / ACCESSWIRE / July 9, 2024 / Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) (the \"Company\" or \"Lahontan\") is pleased to announce results from six reverse-circulation rotary (\"RC\") drill holes from the Company's 2024 Phase One drilling campaign at the Company's 26 km2 Santa Fe Mine project located in Nevada's prolific Walker Lane gold and silver belt. These drill holes were completed in the Slab-Calvada Complex at the Santa Fe Mine where previous Lahontan drilling had outlined significant shallow oxide domain gold and silver resources (Canadian NI 43-101 compliant) that remained open along strike and down-dip*. The six drill holes reported herein, totaling 1,309 metres, targeted potential extensions to these gold and silver resources and were also designed to confirm pit boundaries for the upcoming updated Mineral Resource Estimate (\"MRE\") and Preliminary Economic Assessment (\"PEA\") for the Santa Fe Mine project. Highlights include:41.2 metres grading 0.88 g/t Au and 2.1 g/t Ag (0.90 g/t Au Eq) of very shallow oxide mineralization in drill hole CAL24-003R including 16.8 metres grading 1.39 g/t Au and 2.2 g/t Ag (1.41 g/t Au Eq). This drill hole, and others previously completed by Lahontan, intercepted significant widths of oxide metallurgical domain gold and silver mineralization below the MRE conceptual pit shell at the Slab open pit (please see location map, cross section, and table below). These drill holes will expand the scale of the conceptual pit shell used to constrain mineral resources for the updated MRE, expected in August 2024.16.8 metres grading 0.48 g/t Au and 2.1 g/t Ag (0.50 g/t Au Eq) in drill hole CAL24-006R including 3.1 metres grading 1.42 g/t Au and 3.3 g/t Ag (1.44 g/t Au Eq). This drill hole demonstrates that mineralization remains unconstrained by drilling at depth and provides important information regarding the depth of the sulfide/oxide transition at Calvada, crucial data for mine planning in the PEA process.Kimberly Ann, Lahontan Founder, CEO, President, and Director commented: \"The drill results at the Slab open pit target area were successful on two fronts: Identifying additional high grade oxide gold and silver mineralization at depth and while also increasing drill hole density al...