Lahontan drills 54.9 m of one g/t AuEq at West Santa Fe

Executive Summary

• Lahontan Gold Corp. released the first assay results from its 2025 maiden drilling program at the West Santa Fe satellite project, located 13 km from its flagship Santa Fe mine in Nevada.
• The first reverse circulation rotary (RC) drill hole, WSF25-06R, identified a thick, shallow oxide gold intercept confirming historic mineralization.
• The results validate the historic drill database for future resource estimation and support the company's strategy to expand resources potentially exploitable via Santa Fe's processing infrastructure.

Key Details

• Drill Hole WSF25-06R Results:
  • Intercept 1: 54.9 metres grading 1.00 g/t AuEq (downhole depth 24.4 m to 79.3 m).
  • High-Grade Interval: Included 16.8 metres grading 1.75 g/t AuEq (downhole depth 27.4 m to 44.2 m).
  • Depth from Surface: The intercept begins at only 19 metres from the surface due to the drill inclination of minus 50 degrees.
  • Silver Content: The system is silver-rich, with individual silver intercepts ranging up to 176 g/t Ag (1.52 m interval at 28.96 m to 30.48 m).
• Program Scope:
  • Total of six RC drill holes planned, totaling 593 metres.
  • WSF25-06R was the first hole completed; additional results are expected shortly.
• Historical Context & Validation:
  • The new intercepts correspond to gold- and silver-mineralized zones identified in historic drilling (1980–1985 and sporadic 1990s drilling).
  • The company holds data on 171 historic drill holes totaling over 13,000 metres.
  • Validating this database is a key step in advancing West Santa Fe toward future mineral resource estimates.
• Metallurgical Potential:
  • Historical metallurgical test work (1982) by Kappes Cassiday & Associates suggested a cyanide heap-leach process could yield 70% gold recovery and 50% silver recovery.
  • These historical results are illustrative only and have not been verified by a qualified person under modern standards; additional test work is anticipated.
• Geology:
  • Mineralization is hosted in fine- to medium-grained limestone of the Triassic Pamlico formation.
  • Characterized by iron oxides (goethite, hematite), minor quartz veining, and decalcification.
  • Bedding and fault structures control higher-grade zones.
  • Geologic setting is similar to the Santa Fe mine deposits.
• QA/QC Protocols:
  • Samples analyzed at American Assay Laboratories (AAL) in Sparks, Nevada.
  • Methods included 30-gram fire assay with ICP finish for gold and 36-element geochemistry via two-acid digestion ICP-AES.
  • QA/QC included coarse blanks (1 per 65 samples), CRMs (1 per 20 samples), and duplicate samples (every 20th interval).

Notable Quotes

• "The first assay results from our maiden RC drilling campaign at West Santa Fe are particularly encouraging as the intervals drilled correspond to gold- and silver-mineralized zones identified in historic drilling. Our database contains information on 171 drill holes totalling over 13,000 metres; validating this database for use in future mineral resource estimates is an important step in advancing West Santa Fe. Its proximity to the Santa Fe mine makes the project an important part of the company's strategy to grow gold and silver mineral resources that could potentially be exploited utilizing future mineral processing infrastructure at Santa Fe." — Kimberly Ann, Executive Chair, President, CEO, and Founder