Lahontan Commences Drilling at West Santa Fe
Lahontan Progresses Nevada Drilling Initiatives, Bolstering Resource Pathway with West Santa Fe Maiden Program and Santa Fe Mine Phase Two Completion.
Lahontan Gold Corp. announced on December 16, 2025, that it has commenced its maiden drilling program at the West Santa Fe project in Nevada and has completed the 2025 Phase Two drilling at its flagship Santa Fe Mine project.
At West Santa Fe, the company is initiating its first drilling campaign, aiming to validate historical drill data (171 holes, 13,107 metres from 1980-1995) which indicated a shallow, oxidized gold and silver mineralized system. The CEO, Kimberly Ann, expressed excitement about testing this important exploration target.
For the Santa Fe Mine project, the company successfully completed its 2025 Phase Two drilling, marking the largest number of drill holes (20 this year, 99 total since 2021, totaling 22,431 metres) completed in a single year since Lahontan began drilling in 2021. This new data will be incorporated into an updated Mineral Resource Estimate (MRE) for the Santa Fe Mine in early 2026, followed by a Preliminary Economic Assessment (PEA) in the first half of 2026.
This news release represents the successful execution of previously announced operational plans and permits, rather than a new, unforeseen development.
- West Santa Fe Drilling: The commencement of maiden drilling at West Santa Fe directly follows the Bureau of Land Management (BLM) approval received on November 26, 2025, for this drill program. The company had stated its intention to begin drilling in December 2025, so this news confirms that objective has been met. This is a positive step in testing the potential of a new project, which the company previously noted has an exploration target of +0.5-1.0M ounces of shallow oxide Au & Ag.
- Santa Fe Mine Phase Two Completion: The completion of the 2025 Phase Two drilling at Santa Fe Mine is also a direct follow-up to previous announcements. On November 10, 2025, Lahontan announced the mobilization of a drill rig for this program, focusing on in-fill drilling to upgrade and expand resources. Furthermore, the expanded exploration permit (EPOO) for Santa Fe, approved by the BLM on November 13, 2025, significantly broadened the scope of potential drilling, allowing for over 700 holes across a 12.2 km² area. The completion of Phase Two drilling is an expected advancement under this expanded permit.
- MRE and PEA Timelines: The reiteration of plans to update the Santa Fe MRE in early 2026 and complete a PEA in H1 2026 aligns with the strategic direction the company has been communicating, particularly since the filing of the initial PEA and technical report in January 2025 and the subsequent focus on resource expansion and metallurgical work.
Overall, while confirming continued operational progress and adherence to timelines is positive, this news does not introduce new information that materially changes the company's outlook beyond what was already anticipated. It is a routine but encouraging update on project execution.
Lahontan Gold Corp. is a Canadian exploration and development company primarily focused on advancing its gold and silver projects in Nevada’s prolific Walker Lane gold belt. The company’s strategy involves exploring and delineating high-grade oxide gold and silver deposits with the aim of bringing them into production.
Flagship Project: Santa Fe Mine Project * Location: Walker Lane, Nevada, USA. * History: Historic open-pit, heap-leach gold and silver producer (1988-1995), yielding approximately 359,202 ounces of gold and 702,067 ounces of silver. * Resources: As of a December 10, 2024 effective date PEA (filed Jan 24, 2025), the project hosts: * Indicated Mineral Resources: 1,539,000 ounces Au Equivalent (AuEq) at an average grade of 0.99 g/t AuEq (pit-constrained). * Inferred Mineral Resources: 411,000 ounces AuEq at an average grade of 0.76 g/t AuEq (pit-constrained). * Development Stage: Currently in exploration, resource definition, and preliminary economic assessment phases, with a clear path towards mine planning and permitting. The company recently received BLM approval for an expanded exploration plan of operations (EPOO) allowing for over 700 drill holes across a 12.2 km² area. * Infrastructure: Benefits from excellent infrastructure, including year-round access, an on-site substation, water availability, and proximity to an operating mine.
Other Key Projects: * West Santa Fe Project: Located 13 km southwest of the Santa Fe Mine, this project is an exploration target with historical drilling indicating shallow, oxidized gold and silver mineralization. The company is currently undertaking its maiden drill campaign here. An exploration target of 0.5-1.0M ounces shallow oxide Au & Ag has been noted in past presentations. * Moho Project & Redlich Project: Other early-stage exploration projects in Nevada.