Northwire Canada EditionSunday, November 8, 2026
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Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7% Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7%
Drill Results

Lahontan to Drill Historic Santa Fe Heap Leach Pads for Residual Gold & Silver

Lahontan Gold Advances Santa Fe Heap Leach Strategy with Historic Pad Drilling Following Metallurgical Validation

By The Northwire Desk — AI Analysis Apr 20, 2026 · 07:00 LG · 0.44 Lahontan Gold Corp.
Executive Summary
  • Date: April 20, 2026
  • Headline: Lahontan to Drill Historic Santa Fe Heap Leach Pads for Residual Gold & Silver
  • Program Details: Commencement of a drilling program targeting historic heap leach (HL) pads at the Santa Fe Gold Mine Project in Nevada.
  • Scope: 95 sonic core holes totaling 1,740 metres across four historic HL pads.
  • Objective: Generate an Inferred mineral resource from residual material within the historic pads.
  • Economic Rationale: Material is already crushed and requires no stripping, allowing for low-cost reprocessing to enhance mine economics established in the 2025 Preliminary Economic Assessment (PEA).
  • Historical Context: Historic production (1988–1994) included ~359,000 ounces of gold and ~700,000 ounces of silver from 16.0 million tonnes processed.
  • Current Resources: Santa Fe Mine holds an Indicated Resource of 1,539,000 oz Au Eq and Inferred Resource of 411,000 oz Au Eq.
Material Impact
  • Rating Justification: The news is categorized as Routine - Positive. While the potential for low-cost resource expansion is significant, this announcement represents the execution of a previously announced strategy rather than new unexpected information.
  • Prior Expectations: The November 13, 2025 BLM approval explicitly enabled "drill testing of historic heap-leach pads." This April 20 update confirms the mobilization phase of that approved plan.
  • Financing Context: The program is funded by the $13.6M CAD private placement closed on April 8, 2026. Management stated proceeds would support "upcoming updates to the MRE/PEA and district-scale drilling campaigns." This drill program fits directly within that budgeted scope.
  • Metallurgical Validation: The preceding news release (April 13, 2026) confirmed high cyanide recoveries (81% Au), validating the technical feasibility of processing this material. This reduces execution risk but does not guarantee resource tonnage until assay results are released.
  • Market Impact: As an operational update following a financing close and metallurgical validation, the market likely anticipated this step. It reinforces the production timeline (2027) but does not immediately alter valuation without resource estimates or assay results.
LG · Price
Company Overview
  • Company Name: Lahontan Gold Corp.
  • Ticker: TSX.V: LG / OTCQB: LGCXF
  • Flagship Project: Santa Fe Mine Project, Walker Lane, Nevada.
  • Project Status: Past Producer (1988–1994) and Exploration/Development Stage.
  • Mine Type: Open-pit heap leach processing for gold and silver.
  • Current Resources:
    • Indicated: 1,539,000 oz Au Eq (48.4 Mt @ 0.92 g/t Au & 7.18 g/t Ag).
    • Inferred: 411,000 oz Au Eq (16.8 Mt @ 0.74 g/t Au & 3.25 g/t Ag).
  • Historical Production: ~359,200 oz Gold and ~702,000 oz Silver.
  • Satellite Projects: West Santa Fe (high-grade oxide gold), York Claims (recently acquired adjacent land).
Read the original news release →

More from Lahontan Gold Corp.

Oct 27, 2026 · 07:30

Lahontan Gold Provides Corporate Update on Santa Fe and West Santa Fe Drill Programs

Drill Results Oct 14, 2026 · 10:55

Lahontan’s Santa Fe project post-tax NPV5 jumps 14 times to US$820 million, significantly exceeding its current market capitalization.

Resource Estimate Sep 21, 2026 · 08:28

Lahontan mobilizes a drill rig for a 3,500m campaign at West Santa Fe alongside granting management options.

Drill Results Sep 16, 2026 · 09:36

Lahontan consolidates West Santa Fe, eliminates royalties, and adds the New York Canyon project to its portfolio.

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 Sep 01, 2026 · 07:00

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

Drill Results