Drill Results Routine +

Lahontan Drills 91m Grading 0.43 g/t Au Oxide at Calvada, Discovers New Gold Zone at Slab West

Lahontan confirms the Slab West discovery and Calvada extension, supporting the planned 2027 restart of the Santa Fe mine.

By The Northwire Desk — AI Analysis Jun 09, 2026 · 07:00 LG · 0.345 Lahontan Gold Corp.

Executive Summary

Lahontan Gold Corp. announced initial results from its 2026 drilling program at the Santa Fe Mine Project in Nevada, comprising 953 metres of diamond core and 1,530 metres of reverse-circulation (RC) drilling.
The program successfully identified a new, previously unrecognized gold zone (Slab West) west of the existing Slab open pit, with significant intercepts in four of five RC holes that remain open in all directions.
Geotechnical drilling intercepted thick oxide gold mineralization below the current Calvada pit shell, validating resource continuity and supporting mine permitting efforts ahead of a targeted 2027 production restart.
Calvada intercept (Diamond Core): Hole CAL26-02C intercepted 90.8m at 0.44 g/t Au Eq oxide, including a 12.3m high-grade interval of 1.22 g/t Au Eq. The mineralization extends below the current resource pit shell.
Slab West Discovery (RC): New gold zone located west of the Slab resource/pit. Intercepted in 4 of 5 holes. Key intercepts include 35.0m at 0.34 g/t Au Eq and 61.0m at 0.26 g/t Au Eq. The zone is unconstrained up/down dip and along strike.
2026 Project Objectives: Complete updated MRE and PEA, advance mine permitting with construction target of 2027, drill test West Santa Fe satellite project, and conduct exploration drilling to expand known mineralization.

Material Impact

The June 9, 2026 release is a direct follow-up to the company's ongoing 2026 exploration and geotechnical drilling campaigns announced in March and May 2026.
The results are in line with previous expectations and management guidance, which targeted resource expansion and geotechnical data collection for permitting.
The discovery of the Slab West zone adds incremental upside to the existing resource base, while the Calvada extension validates the continuity of oxide mineralization below the current pit shell.
The geotechnical drilling directly supports the state-level mine permitting process, keeping the company on track for its 2027 production restart target.
The news is positive but routine, as it represents expected incremental progress rather than a fundamental change to the project's economics, timeline, or capital structure.

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Company Overview

Lahontan Gold Corp. is a Nevada-based junior explorer focused on the Santa Fe Mine Project and the West Santa Fe satellite property.
The Santa Fe Mine is a historic producer that generated 359,202 oz of gold and 702,067 oz of silver between 1988 and 1995 via open-pit heap-leach operations.
Current NI 43-101 compliant resources include 1,539,000 oz Au Eq (Indicated) and 411,000 oz Au Eq (Inferred).
The company's strategy centers on restarting production by 2027 using a low-strip-ratio open-pit heap-leach model, leveraging existing infrastructure and favorable metallurgical characteristics.

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