Lahontan Gold samples up to 5.52 g/t gold and 45.1 g/t silver at Santa Fe, Nevada
Lahontan Gold Corp. [TSXV-LG; OTCQB-LGCXF] reported results from rock-chip sampling in the Slab pit area of its 26.4 km2 flagship Santa Fe Mine project, Nevada. Geologic mapping and sampling have identified an offset, westerly continuation, of the important Calvada Fault with individual samples containing up to 5.52 g/t gold and 45.1 g/t silver (5.92 g/t AuEq (gold equivalent). Samples range in value from 0 to 5.52 g/t gold and 0.2 to 45.1 g/t silver, and average 0.97 g/t AuEq.
Gold grades in g/t are shown against a backdrop of mapped fault structure and reduced to pole residual magnetics.
The Calvada Fault is an important control to mineralization in the Slab-Calvada area and also where it intersects the Santa Fe Fault in the Santa Fe pit, localizing the high-grade BH zone. Drilling is sparse along this westerly extension generating multiple targets for additional exploration.
Kimberly Ann, Lahontan Founder, CEO, President, and Director commented: “The geologic team has been focusing on identifying important structures in the Slab-Calvada area, both controls to gold mineralization and younger faults that offset mineralized zones. This mapping and sampling documents a +300-metre offset of the Calvada Fault and open up over 2 km of additional strike length for exploration and drilling. Despite our success to date at Santa Fe, we believe we are just beginning to scratch the surface of this impressive hydrothermal system.”
Silicified breccia along the westerly extension of the Calvada Fault. This sample grades 1.95 g/t gold, 3.9 g/t silver (1.98 g/t AuEq). This highly altered and strongly mineralized portion of the Calvada Fault is untested by drilling, opening a significant new target area at Santa Fe.
Lahontan Gold is a fully financed Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of Nevada. Lahontan’s flagship property, the 26.4 km2 Santa Fe Mine, had past production of 345,000 ounces of gold and 711,000 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing.
The Santa Fe Mine has NaI 43-101 compliant Indicated Mineral Resource of 1,112,000 oz AuEq (grading 1.14 g/t AuEq) and an Inferred Mineral Resource of 544,000 oz AuEq (grading 1.00 g/t AuEq), all pit constrained (AuEq is inclusive of recovery. The company will continue to explore Santa Fe during 2023 and begin the process of evaluating development scenarios to bring the Santa Fe Mine back into production.