Key facts
| Company | Lahontan Gold Corp. (TSXV: LG) |
|---|---|
| Commodity | Gold |
| Location | USA |
| Stage | PEA |
Economic studies
Preliminary economic assessment
Jan 24, 2025No figures were extracted from this study.
Preliminary economic assessment
Dec 11, 2024- NPV (5%)
- US$56.5M
- IRR
- 14%
- Payback
- 4.2 years
- Initial capex
- US$135M
- Mine life
- 9 years
- Gold price assumed
- US$2,025/oz
Figures as extracted from each study, in US dollars as the studies report them. Open the report before relying on one.
News releases85 on file
Lahontan Gold Announces Updated Santa Fe Preliminary Economic Assessment Featuring an Eleven-Year Mine Life and Post-Tax NPV5 of US$820 Million
An updated PEA on the Santa Fe gold-silver project in Nevada's Walker Lane shows a post-tax NPV5 of US$820.0 million and 40.1% IRR at US$3,600/oz gold and US$49/oz silver, with an 11-year mine life plus one year of residual leaching. Pre-production capital is estimated at US$172.0 million with a 3.7-year payback, average annual production of about 91,900 gold-equivalent ounces, cash costs of US$1,
Study resultsLahontan Drills 16.5m Grading 2.72 g/t Au and 2.8 g/t Ag at Santa Fe Heap Leach Pad Two
Ten Sonic core holes totalling 168.9 metres on Heap Leach Pad Two at the Santa Fe Mine Project in Mineral County, Nevada returned an intercept of 16.5m grading 2.72 g/t Au and 2.8 g/t Ag. The weighted average grade of all samples to date is 0.50 g/t Au and 3.3 g/t Ag (0.54 g/t Au Eq), with CN gold analyses averaging 40% of fire assay values. The holes are 10 of 26 completed, with 86 additional hol
Drill resultsLahontan Announces CFO Transition on Anticipation of Santa Fe Mine Development
Billy Choi has been hired as Chief Financial Officer of Lahontan Gold Corp., assuming full CFO responsibilities in October 2026 following a transition period and replacing John McNeice. Choi was previously Vice President of Finance at Lithium Royalty Corp. and holds a Bachelor of Business Administration from the University of Toronto and the CPA, CA designation. The Company is advancing permitting
ManagementLahontan Drills 10.7m Grading 1.81 g/t Au and 64.8 g/t Ag, Completes Santa Fe Mine Stockpile Drill Program
Sonic core drilling of a historic low-grade stockpile adjacent to Heap Leach Pad Two at the Santa Fe Mine project in Nevada returned 10.7m grading 1.81 g/t Au and 64.8 g/t Ag, with nine drill holes averaging 1.96 g/t Au Eq (1.64 g/t Au, 36.2 g/t Ag). CN-extractable gold assays ranged from 5% to 93% of fire assay values, averaging 43%. The balance of the 2026 program covers 96 holes across four his
Drill resultsLahontan Announces 22% Increase in Mineral Resources at Santa Fe: 1,195,000 Au Eq oz Indicated, and 1,190,000 Au Eq oz Inferred
An updated mineral resource estimate for the Santa Fe Mine in Nevada's Walker Lane reports Indicated Mineral Resources of 1,195,000 contained gold equivalent ounces at 0.78 g/t Au Eq and Inferred Mineral Resources of 1,190,000 Au Eq ounces at 0.61 g/t Au Eq, a combined increase of 435,000 ounces or 22% over the 2024 MRE. The estimate, effective August 13, 2026, uses $3,200/oz gold and $40.00/oz si
Resource updateLahontan Drills 12.2m Grading 1.25 g/t Au Oxide at Calvada East
Drilling at the Santa Fe Mine Project in Nevada returned 12.2 metres (166.1–178.3m) grading 1.26 g/t Au Eq oxide (1.25 g/t Au, 0.8 g/t Ag) in hole CAL26-12R at Calvada East, with individual 1.5 metre samples up to 3.29 g/t Au. Hole CAL26-11R cut 13.7 metres grading 1.10 g/t Au Eq in Tertiary volcanic rocks along the Summit Fault, the first such intercept at the project. At Slab West, CAL26-13R ret
Drill resultsLahontan Drills 9.9m Grading 2.40 g/t Au and 50.7 g/t Ag in Santa Fe Mine Stockpile
First results from the 2026 Sonic core drilling program at the Santa Fe Mine Project in Nevada returned 9.9m grading 2.40 g/t Au and 50.7 g/t Ag from a historic low-grade stockpile adjacent to Heap Leach Pad two, with three Sonic core holes averaging 2.3 g/t Au Eq. CN-extractable gold assays ranged from 5% to 87% of corresponding fire assay values, averaging more than 30%. The Sonic program has co
Drill resultsLahontan Drills 9.9m 2.40 g/t Au and 50.7 g/t Ag in Santa Fe Stockpile
Sonic core drilling of a historic low-grade stockpile adjacent to Heap Leach Pad two at the Santa Fe Mine project in Nevada returned 9.9m grading 2.40 g/t Au and 50.7 g/t Ag, with three Sonic holes averaging 2.3 g/t Au Eq. CN-extractable gold assays ranged from 5% to 87% of fire assay values, averaging more than 30%. The Sonic program has concluded with nearly 100 holes across four historic heap l
Drill resultsLahontan Drills 31m Grading 0.90 g/t Au Oxide at Calvada Central
Drilling at the Santa Fe Mine project in Nevada returned 30.8 metres grading 0.93 g/t Au Eq oxide (94.8–125.6m) in diamond hole CAL26-03C at Calvada Central, including 10.7 metres at 2.18 g/t Au Eq (114.0–124.7m); the 188-metre hole was originally designed to collect geotechnical data for mine permitting. Two RC holes totalling 636 metres at the south end of the Slab pit cut 15.2 metres at 0.40 g/
Drill resultsLahontan Provides Santa Fe Mine Development and Exploration Update
An updated Mineral Resource Estimate for the Santa Fe Mine Project in Nevada's Walker Lane is expected within weeks, with a revised Preliminary Economic Assessment targeted by the end of August 2026 and groundbreaking still planned for 2027. Lahontan has completed 87 drill holes totalling 7,751 metres year-to-date, including 54 Sonic holes on historic heap leach pads and the new Slab West discover
CorporateLahontan Drills 91m Grading 0.43g/t Au Oxide at Calvada, Discovers New Gold Zone at Slab West
First results from the 2026 drilling program at the Santa Fe Mine Project in Nevada included hole CAL26-02C at Calvada, a geotechnical hole that cut 90.8 metres (194.2–285.0 m) grading 0.44 g/t Au Eq oxide below the current resource pit shell, including 12.3 metres at 1.22 g/t Au Eq. Five RC holes totalling 1,530 metres identified a new gold zone west of the Slab pit, with 35.0 metres at 0.34 g/t
Drill resultsLahontan Provides Santa Fe Mine Development and Permitting Update, Grants Stock Options
A geotechnical drill campaign of 2,569 metres in 11 diamond core and RC holes has been completed at the Santa Fe Mine project in Nevada's Walker Lane, targeting groundwater definition and waste rock characterization; only minor groundwater flow was encountered in one hole. An updated mineral resource estimate is expected in the weeks ahead, with an updated PEA due in September, alongside plans for
CorporateLahontan to Drill Historic Santa Fe Heap Leach Pads for Residual Gold & Silver
A drill program testing the historic heap leach pads at the Santa Fe Gold Mine Project in Nevada's Walker Lane will begin once full permits are received, using a Boart Longyear LS 450 sonic core drill rig. The plan calls for 95 sonic core holes totalling 1,740 metres across four historic pads at roughly 30-metre spacing, which Lahontan says would be sufficient to generate an Inferred mineral resou
Drill resultsLahontan Gold Appoints Antony Rowe and Miranda Werstiuk to the Board of Directors
Antony Rowe and Miranda Werstiuk have been appointed as independent directors of Lahontan Gold Corp., while Josh Serfass and Max Pluss have stepped down from the Board. Rowe is Managing Director of Arrowpoint Mining Capital and previously worked at Resource Capital Funds and Investec Bank; Werstiuk has over 30 years in resource finance and sits on the board of Guanajuato Silver Company Ltd. The co
ManagementLahontan Mobilizes Second Drill Rig to Santa Fe
A track-mounted MPD-1500 reverse-circulation drill rig and crew have been mobilized to the Santa Fe Mine project in Nevada's Walker Lane, joining the diamond drill rig already operating there and focusing on areas of the project with little or no prior exploration drilling. Following approval of its exploration Plan of Operations, the company can drill over 700 new holes at the 28.3 km2 project, a
Drill resultsLahontan Selects Respec and Kappes Cassiday to Update Santa Fe Mineral Resource Estimate and PEA
Assay results from two reverse-circulation holes totaling 396 metres in the south Slab pit area at the Santa Fe Mine Project in Nevada's Walker Lane returned 68.6 metres grading 0.45 g/t Au Eq from 45.7m in CAL25-011R, including 16.8 metres at 0.81 g/t Au Eq, and 41.2 metres grading 0.32 g/t Au Eq from 32.0m in CAL25-012R. The intercepts lie below and adjacent to the current mineral resource pit s
Resource updateLahontan Mobilizes Core Rig to Santa Fe
A Super 90 track-mounted core drill rig has been mobilized to the Santa Fe Mine Project in Nevada's Walker Lane as part of the ongoing mine development program. The core drilling will collect samples for waste rock geochemical characterization for State-level mine permitting and further define groundwater distribution in the area of the proposed open pit. The Company expects the hydrologic and geo
Drill resultsLahontan Receives BLM Approval of Santa Fe Exploration Plan of Operations
The US Bureau of Land Management has published its Decision Record, Finding of No Significant Impact and approval of Lahontan Gold's Exploration Plan of Operations for the Santa Fe Mine project in Nevada's Walker Lane, concluding the NEPA Environmental Assessment process. The EPOO permits exploration drilling across a 12.2 km² area and over 700 drill holes, versus a previous five-acre disturbance
CorporateLahontan Mobilizes Drill Rig to the Santa Fe Mine
A track-mounted MPD-1500 reverse-circulation drill rig and crew have been mobilized to the Santa Fe Mine project in Nevada's Walker Lane. The program comprises up to 25 drill holes totalling 4,000 metres of in-fill drilling at the Slab and York areas, targeting shallow oxide gold and silver mineralization, to upgrade resources from Inferred to Indicated and expand overall resources. The Company sa
Drill resultsLahontan Closes Strategic York Claims Purchase at Santa Fe
The purchase of 27 unpatented lode mining claims (the York claims) from Emergent Metals Corp, contiguous with the southeast corner of the Santa Fe Mine Project in Nevada's Walker Lane, has closed. Consideration comprises US$10,000 cash, a US$50,000 promissory note bearing 1% monthly interest payable within six months, 2,000,000 Lahontan common shares, and a 1% NSR royalty buyable for US$500,000 be
AcquisitionSanta Fe Exploration Plan of Operations Enters NEPA Review
Lahontan Gold's Exploration Plan of Operations for the Santa Fe Mine project in Nevada has entered National Environmental Policy Act review by the Bureau of Land Management, which has up to six months to complete the process. The POO has been posted on the BLM National NEPA Registry and a draft Environmental Assessment has been completed. Lahontan also signed a Contributed Funds Agreement to fund
CorporateLahontan Drills Thick, Shallow Gold at York: 90m Grading 0.23 g/t AuPlusa Second High Grade Zone: 18m Grading 0.73 g/t Au, All Oxide
Phase One drilling at the Santa Fe Mine Project in Nevada's Walker Lane returned 89.9 metres grading 0.23 g/t Au from 45.7 metres in hole YOR25-001R at York, and 18.3 metres grading 0.73 g/t Au, including 12.2 metres at 1.00 g/t Au, in YOR25-002R, which ended in mineralization. At Slab, CAL25-004R cut 39.6 metres grading 0.30 g/t Au and 1.2 g/t Ag below the pit. Seven RC holes totalling 1,210 metr
Drill resultsBLM Determines Santa Fe Plan of Operations Complete, Prepares to Enter NEPA
The Bureau of Land Management has determined Lahontan Gold's Exploration Plan of Operations for the Santa Fe Mine project in Nevada to be complete, allowing the project to enter a full environmental assessment under NEPA. The POO would permit exploration across over 12 km² of the project and includes over 700 drill sites, with all environmental baseline studies, covering biological, cultural and h
CorporateLahontan Acquires Strategic Claims South of the York Pit, Expanding the Santa Fe Mine Project
A binding term sheet signed August 18, 2025 provides for the acquisition of 27 unpatented lode mineral claims, about 2.1 km², from Emergent Metals Corp., adjoining the Santa Fe Mine Project immediately south and southeast of the York open pit in Mineral County, Nevada. Consideration includes US$10,000 on signing the term sheet, a US$50,000 promissory note at 1% monthly interest, 2,000,000 Lahontan
AcquisitionLahontan Begins Metallurgical Test Work at Santa Fe
Metallurgical test work has begun on gold and silver mineralization from the transition metallurgical domain at the Santa Fe deposit in Nevada, aiming to improve CN leach gold recoveries above the 49% used in the project's Preliminary Economic Assessment. The program includes column leach tests, with results expected later this year, and work to better define boundaries between metallurgical domai
Study resultsLahontan Receives BLM Approval for Additional Santa Fe Drilling
The US Bureau of Land Management has approved an amendment to Lahontan Gold's Notice of Intent, permitting additional drill sites on unpatented lode mining claims on BLM-administered federal land at the Santa Fe Mine project in Nevada's Walker Lane. The holes will test extensions to known gold and silver resources in the Slab and York areas, with drilling to begin shortly as part of Phase One of t
CorporateLahontan Mobilizes Drill Rig to Santa Fe
A reverse-circulation drill rig and support equipment have been mobilized to the Santa Fe Mine project in Nevada's Walker Lane, with Phase One of the 2025 program focused on the Slab target area. Drilling will start on patented lode mining claims and extend onto Bureau of Land Management ground once the Notice of Intent is approved. The program aims to expand gold and silver resources at Slab and
Drill resultsLahontan Submits Notice of Intent for Additional Drilling at Santa Fe
An amended Notice of Intent has been submitted to the US Bureau of Land Management for additional exploration and resource definition drilling at the Santa Fe Mine project in Nevada's Walker Lane gold belt. The NOI proposes eight additional drill sites, from which multiple holes can be completed, adding to sites already permitted, with approval expected shortly. Drilling will target the Slab and Y
Drill resultsLahontan Announces Closing of Upsized Private Placement of Units and Welcomes New Institutional Investor
A non-brokered private placement of 42,705,700 units at $0.05 per unit closed for gross proceeds of $2,135,285, with each unit comprising one common share and one-half warrant exercisable at $0.08 for two years. Larry Lepard, through Equity Management Associates, led the financing and indirectly acquired 34,285,700 units, bringing his holdings to 13.34% undiluted. Proceeds will fund working capita
FinancingLahontan Announces Upsize to Private Placement of Units
Lahontan Gold has increased its non-brokered private placement to up to 44,000,000 units at $0.05 per unit for gross proceeds of up to $2,200,000. Each unit includes one common share and one-half warrant exercisable at $0.08 for two years, subject to acceleration if the shares close above CDN$0.12 for ten consecutive trading days after four months and one day. Proceeds will fund general working ca
FinancingLahontan Announces Private Placement of Units
A non-brokered private placement of up to 40,000,000 units at $0.05 per unit for gross proceeds of $2,000,000 has been launched, with each unit comprising one common share and one-half warrant exercisable at $0.08 for two years, subject to acceleration if the shares close above CDN$0.12 for ten consecutive trading days after four months and one day. Proceeds will fund general working capital and e
FinancingLahontan Reports Progress on Santa Fe Plan of Operation
The U.S. Bureau of Land Management is expected shortly to issue a formal completeness determination for the Exploration Plan of Operations submitted in November 2024 for the Santa Fe Mine project in Nevada, moving permitting into the NEPA phase, with final approval on track for late 2025. The EPOO would permit up to 750 drill holes. Of eight environmental baseline reports, BLM had no comments on f
NewsLahontan Announces Closing of Private Placement and Sale of Common Shares by Victoria Gold Corp
A non-brokered private placement closed for gross proceeds of Cdn$720,000 through the issuance of 36,000,000 common shares at Cdn$0.02 per share, with an insider acquiring 10,000,000 shares; the shares are subject to a hold period until June 5, 2025. Victoria Gold Corp. also completed the sale of 42,132,139 Lahontan common shares, representing 17.4% of outstanding shares after the offering, to exi
FinancingLahontan Announces Filing of Santa Fe Preliminary Economic Assessment & Technical Report
An independent NI 43-101 Technical Report and Preliminary Economic Assessment for the Santa Fe gold-silver project in Mineral County, Nevada, effective December 10, 2024 and dated January 24, 2025, has been filed on SEDAR+ by Lahontan Gold Corp. The report supports the PEA results disclosed in the company's December 11, 2024 news release, with no material differences. Santa Fe hosts Indicated Mine
Study resultsLahontan Announces Private Placement of Common Shares
A non-brokered private placement of up to 36,000,000 common shares at $0.02 per share for gross proceeds of up to $720,000 has been launched, and is nearly fully subscribed by existing major shareholders. Proceeds are allocated to general and administrative purposes (29%), exploration at the Santa Fe Mine Project in Nevada (29%), metallurgical testing and consultants (17%) and exploration permitti
FinancingLahontan Submits Santa Fe Exploration Plan Of Operation to The Bureau Of Land Management
An Exploration Plan of Operations for the Santa Fe Mine project in Nevada has been submitted to the Bureau of Land Management for approval and a determination of formal completeness, including draft environmental and cultural baseline study reports covering biology, bats, wildlife, vegetation, cultural, visual, surface hydrology, environmental justice and socio-economic values. BLM review would al
NewsLahontan Announces Increase in Mineral Resources at Santa Fe: 1,539,000 Au Eq oz Indicated, and 411,000 Au Eq oz Inferred
An updated mineral resource estimate for the Santa Fe Mine in Nevada's Walker Lane reports pit-constrained Indicated Mineral Resources of 1,539,000 gold equivalent ounces grading 0.99 g/t Au Eq and Inferred Mineral Resources of 411,000 Au Eq ounces grading 0.76 g/t Au Eq, with Indicated ounces up 427,000, or 38%, from the 2023 estimate. The estimate, effective October 9, 2024, is based on 988 dril
Resource updateLahontan Reports CN-Soluble Gold Up to 91.5% at Calvada, 91.0% at York and 86.7% at Slab; Preg Robbing Potential Very Low
Cyanide-shake metallurgical test work by Kappes, Cassiday and Associates on 205 pulp samples from the four deposits at the 26-km² Santa Fe Mine project in Nevada's Walker Lane returned CN-soluble gold of 91.5% at Calvada, up to 91.0% and averaging 78.4% at York, averaging 69.0% at Slab and 29.6% at Santa Fe, versus currently estimated recoveries of 71%, 60% and 50% respectively. Three of 205 sampl
Study results