Northwire Canada EditionWednesday, September 16, 2026
Sign inSubscribe
Northwire
⌕
GOLD 4373.60 +0.9% SILVER 64.56 +1.1% COPPER 6.50 +0.9% OIL 102.18 −3.5% PALLADIUM 1310.00 +0.6% AUEN 0.240 −5.9% LVG 0.300 +1.7% OOR 0.050 +0.0% MJS 0.100 −4.8% EMR 0.100 +17.6% LMCU 10.35 −0.5% SXL 0.060 +0.0% EQTY 0.155 −31.1% LG 0.360 −2.7% MGG 0.320 −1.5% CTV 0.115 +0.0% ORCL 0.030 +0.0% PHNM 0.365 +2.8% ADZ 0.195 −2.5% WHY 0.290 −1.7% KTN 1.16 +0.0% GOLD 4373.60 +0.9% SILVER 64.56 +1.1% COPPER 6.50 +0.9% OIL 102.18 −3.5% PALLADIUM 1310.00 +0.6% AUEN 0.240 −5.9% LVG 0.300 +1.7% OOR 0.050 +0.0% MJS 0.100 −4.8% EMR 0.100 +17.6% LMCU 10.35 −0.5% SXL 0.060 +0.0% EQTY 0.155 −31.1% LG 0.360 −2.7% MGG 0.320 −1.5% CTV 0.115 +0.0% ORCL 0.030 +0.0% PHNM 0.365 +2.8% ADZ 0.195 −2.5% WHY 0.290 −1.7% KTN 1.16 +0.0%
Drill Results Routine +

Lahontan Drills 10.7m Grading 1.81 g/t Au and 64.8 g/t Ag, Completes Santa Fe Mine Stockpile Drill Program

Lahontan’s incremental results feature good stockpile grade and low cyanide recovery without disclosed tonnage.

By The Northwire Desk — AI Analysis Sep 01, 2026 · 07:00 LG · 0.4 Lahontan Gold Corp.
Executive Summary

Lahontan Gold Corp. has released additional results from its 2026 Sonic core drilling program at the Santa Fe Mine Project, focusing on a historic low-grade stockpile adjacent to Heap Leach Pad Two. The company reported nine drill holes that averaged 1.96 g/t AuEq, comprising 1.64 g/t Au and 36.2 g/t Ag. Management stated these figures are substantially higher than the stockpile’s historic low-grade classification warrant.

The headline intercept from the program measured 10.7 m grading 1.81 g/t Au and 64.8 g/t Ag. Three of the nine holes were previously reported on July 23, 2026; this release adds the remaining holes and completes the stockpile portion of the drill program. Because the drill holes are vertical, the true thickness of the stockpile intercepts is approximately 100% of the drilled interval.

CN-extractable gold assays ranged from 5% to 93% of fire assay values, averaging 43%. Management described this data as suggesting amenability to conventional heap-leach processing.

Material Impact

Lahontan Gold Corp. (LG) is a pre-revenue mine development company with a current market capitalization around C$163.5 million and an August 2026 resource of 1,195,000 indicated plus 1,190,000 inferred AuEq ounces at Santa Fe. The recent stockpile result represents near-mine, incremental feed potential rather than a discovery or a major step-out, and it does not change the resource base on its own.

The stock has re-rated substantially over the past year, moving from a C$0.12 low in September 2025 to C$0.48 in March 2026, and has been consolidating near C$0.35 to C$0.43 since. The market has already priced a large amount of successful exploration, resource growth, and development progress, meaning a stockpile grade confirmation is not a 15% event for a company of this size. The first stockpile holes did not embed a demanding anchor: the stock was around C$0.35 on July 23, 2026 and C$0.40 on August 31, 2026, so the lower nine-hole average is not a material miss against an embedded expectation.

LG · Price
Company Overview

Lahontan Gold Corp. is a Nevada-focused gold and silver exploration and development company. Its flagship asset is the 28.3 square kilometre Santa Fe Mine project in the Walker Lane, a past open-pit heap-leach producer. Historic production at Santa Fe totaled 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995.

West Santa Fe is a satellite project located about 13 kilometres from Santa Fe and has yielded strong shallow oxide drill results in 2026. An August 2026 mineral resource update reported 1,195,000 indicated AuEq ounces and 1,190,000 inferred AuEq ounces at Santa Fe. Project-wide grades were 0.78 g/t AuEq indicated and 0.61 g/t AuEq inferred.

Q1 2026 financials, which serve as prior-period context and are not part of this release, showed approximately C$12 million in cash, no revenue, negative operating cash flow, and total shares outstanding of approximately 408.7 million. The company is targeting a production restart at Santa Fe in 2027 and the completion of an updated PEA.

Read the original news release →

More from Lahontan Gold Corp.

Sep 16, 2026 · 09:36

Lahontan Consolidates Ownership of West Santa Fe, Eliminates Royalties, and Adds Strategic New York Canyon Project Through Acquisition of Emergent Metals

M&A / Property Sep 15, 2026 · 07:00

Lahontan’s Pad Two re-drill intersected a 16.5m wide 2.75 g/t AuEq pocket within a bulk pad averaging 0.5 g/t Au and 40% cyanide solubility.

Drill Results Aug 17, 2026 · 07:00

Lahontan’s Santa Fe resource model shows an Indicated ounce miss offset by a surge in Inferred material that masks a decline in overall ore quality.

Resource Estimate Aug 05, 2026 · 07:00

Lahontan’s Calvada East intercepts confirm oxide gold and a new volcanics target, though grades and widths remain incremental for bulk-tonnage open-pit mining.

Drill Results Jul 23, 2026 · 07:00

Lahontan’s stockpile grades exceed historic labels despite a low 30% cyanide recovery rate.

Drill Results Jul 22, 2026 · 07:00

Lahontan’s Calvada Central oxide intercept adds incremental ounces, though low grades keep the result in an encouraging band rather than being transformational.

Drill Results