Lahontan Advances Toward 2027 Santa Fe Mine Restart
Just hours after gold broke $5,000 per ounce, Lahontan announced a late-stage permitting milestone at its past-producing Santa Fe Mine.
While Lahontan still trades at just ~$28 per oz AuEq—a fraction of peers like Hycroft and well below silver developers with comparable resources—this is not exploration drilling. The mobilization of a core rig for hydrology and waste-rock characterization is typically completed shortly before construction decisions.
In other words, Lahontan remains priced as if gold were still $1,800, even as it advances Santa Fe toward a potential 2027 construction start.
Lahontan Mobilizes Core Drill Rig to Santa Fe
Monday, 26 January 2026 | 07:30 AM
TORONTO, ON / ACCESS Newswire / January 26, 2026 / Lahontan Gold Corp. (TSXV:LG)(OTCQB:LGCXF)(FSE:Y2F) (the “Company” or “Lahontan”) is pleased to announce that it has mobilized a Super 90 track-mounted core drill rig to the Company’s flagship Santa Fe Mine Project located in Nevada’s prolific Walker Lane.
The core drilling is part of the Company’s ongoing mine development program, focusing on collecting core samples for waste rock geochemical characterization as part of the State level mine permitting process. The drill holes will also be used to further define the distribution of ground water in the area of proposed open pit mining, another key component of the permitting process.
Kimberly Ann, Lahontan Executive Chair, President, CEO, and Founder commented:
“Lahontan is excited to take this important next step in the permitting process for the resumption of open pit mining and heap leach processing at Santa Fe. By mobilizing drilling equipment early in 2026, we expect to get both the hydrologic data and waste rock geochemical data needed to keep the Company on track for breaking ground at Santa Fe in 2027.”
About Lahontan Gold Corp.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four gold and silver exploration properties in the Walker Lane of mining friendly Nevada.
Lahontan’s flagship property, the 28.3 km2 Santa Fe Mine project, had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing.
The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 tonnes grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report and note below*).
The Company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025.
For more information, please visit our website: www.lahontangoldcorp.com
* Please see the “Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project”, Authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective Date: December 10, 2024, Report Date: January 24, 2025.
The Technical Report is available on the Company’s website and SEDAR+. Mineral resources are reported using a cut-off grade of 0.15 g/t AuEq for oxide resources and 0.60 g/t AuEq for non-oxide resources. AuEq assumptions include a gold price of US$1,950/oz, silver price of US$23.50/oz, oxide gold recoveries ranging from 28% to 79%, oxide silver recoveries ranging from 8% to 30%, and non-oxide gold and silver recoveries of 71%.
Qualified Person
Brian J. Maher, M.Sc., CPG-12342, is a “Qualified Person” as defined under Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news release in respect of all technical disclosure other than the Mineral Resource Estimate as noted above. Mr. Maher is Vice President-Exploration for Lahontan Gold and has verified the data disclosed in this news release, including the sampling, analytical and test data underlying the disclosure.
On behalf of the Board of Directors
Kimberly Ann
Founder, CEO, President, and Director
For Further Information, Please Contact:
Lahontan Gold Corp.
Kimberly Ann
Founder, Chief Executive Officer, President, Director
Phone: 1-530-414-4400
Email: Kimberly.ann@lahontangoldcorp.com
Website: www.lahontangoldcorp.com
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA’s President has purchased 200,000 shares of LG in the open market and intends to buy more shares. NIA has received compensation from LG of US$50,000 cash for a six-month marketing contract. This message is meant for informational and educational purposes only and does not provide investment advice.