Lahontan Provides Santa Fe Mine Development and Exploration Update
Original announcement by tmx on
- Company
- Lahontan Gold Corp.
- Ticker
- LG
- Exchange
- TSX
- Region
- Nevada
- Primary commodity
- Gold
- Secondary commodities
- Silver
- Document categories
- Resource update, Drill results, Permitting
- Extracted
- 2026-09-18 06:33:06 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Lahontan Gold Corp. provided an update on the Santa Fe Mine Project, highlighting the upcoming completion of an updated Mineral Resource Estimate and a revised PEA. The company reported new exploration progress at the Slab West discovery and is conducting drilling to evaluate the reprocessing of historic heap leach pads. Permitting activities for groundwater and waste rock characterization are also advancing toward a planned 2027 construction.
Reasoning: The company is advancing multiple workstreams including a new discovery, upcoming resource/economic updates, and permitting, though technical delays are noted.
Positive factors
- New Slab West discovery remains open
- Updated MRE and PEA expected shortly
- Permitting progress on groundwater and waste rock
- Brownfields restart potential via heap leach reprocessing
Negative factors
- Modest delays in MRE completion due to consultant demand
- Assay results for some RVC holes are delayed
Facts used in scoring: 6
Classification and evidence
Step-Out Extensionpositive
Mineralization extended beyond the previously known limit.
Why it applies: New Slab West discovery is described as a previously unrecognized zone west of the Slab resource.
Evidence · text
“discovery of a new, previously unrecognized zone of gold mineralization west of the Slab resource (“ Slab West “)”
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: The release names a Qualified Person (Brian J. Maher) who has verified the sampling, analytical, and test data.
Evidence · text
“Qualified Person Brian J. Maher... has verified the data disclosed in this news release, including the sampling, analytical and test data underlying the disclosure.”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The document reports an Inferred Mineral Resource component.
Evidence · text
“an Inferred Mineral Resource of 411,000 oz Au Eq”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The document reports an Indicated Mineral Resource component.
Evidence · text
“an NI 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: A current resource fact retains the disclosed cut-off grade
Extracted facts
Stored fact records: 6. Some facts used in scoring do not have a stored record.
Drill Results (2)
CAL26-03RSanta Fe Mine · goldGrade: 0.34Grade Unit: g/tIntercept: 35 mView all detailsHide details
Identity
- Hole ID
- CAL26-03R
- Project
- Santa Fe Mine
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- usa_nv
- Ticker
- LG
Geometry
- Grade
- 0.34
- Grade Unit
- g/t
- Intercept
- 35 m
- From
- 164.6 m
- To
- 199.6 m
- Intercept Depth
- 164.6 m
Classification
- Sample Type
- drill
- Group ID
- CAL26-03R:164.6-199.6
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-06-30T00:00:00.000Z
Reasoning: Low grade intercept in a discovery zone.
Evidence · text
“35.0 metres grading 0.34 g/t Au Eq (CAL26-03R; 164.6 – 199.6 m)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
CAL26-01RSanta Fe Mine · goldGrade: 0.26Grade Unit: g/tIntercept: 61 mView all detailsHide details
Identity
- Hole ID
- CAL26-01R
- Project
- Santa Fe Mine
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- usa_nv
- Ticker
- LG
Geometry
- Grade
- 0.26
- Grade Unit
- g/t
- Intercept
- 61 m
- From
- 184.4 m
- To
- 245.4 m
- Intercept Depth
- 184.4 m
Classification
- Sample Type
- drill
- Group ID
- CAL26-01R:184.4-245.4
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-06-30T00:00:00.000Z
Reasoning: Low grade intercept in a discovery zone.
Evidence · text
“61.0 metres grading 0.26 g/t Au Eq (CAL26-01R; 184.4 – 245.4 m)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Resource Estimates (4)
indicatedSanta Fe Mine Project · goldTonnes: 48393000Grade: 0.92Grade Unit: g/tContained Metal: 1539000Contained Unit: oz au eqView all detailsHide details
Identity
- Project
- Santa Fe Mine Project
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada
- Ticker
- LG
Resource scope
- Estimate type
- resource
- Effective date
- 2024-12-10T00:00:00.000Z
- Reporting standards
- ni_43_101
- Resource group id
- resource:abfdab3ec159034408a0
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 48393000
- Grade
- 0.92
- Grade Unit
- g/t
- Contained Metal
- 1539000
- Contained Unit
- oz au eq
- Cutoff Grade
- 0.15
- Cutoff Unit
- g/t AuEq
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-30T00:00:00.000Z
Reasoning: Existing resource baseline provided for context.
Evidence · text
“an NI 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq)”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedSanta Fe Mine Project · silverTonnes: 48393000Grade: 7.18Grade Unit: g/tView all detailsHide details
Identity
- Project
- Santa Fe Mine Project
- Commodity
- silver
- Region
- usa_nv
- Reported Region
- Nevada
- Ticker
- LG
Resource scope
- Estimate type
- resource
- Effective date
- 2024-12-10T00:00:00.000Z
- Reporting standards
- ni_43_101
- Resource group id
- resource:abfdab3ec159034408a0
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 48393000
- Grade
- 7.18
- Grade Unit
- g/t
- Cutoff Grade
- 0.15
- Cutoff Unit
- g/t AuEq
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-30T00:00:00.000Z
Reasoning: Existing resource baseline provided for context.
Evidence · text
“48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredSanta Fe Mine Project · goldTonnes: 16760000Grade: 0.74Grade Unit: g/tContained Metal: 411000Contained Unit: oz au eqView all detailsHide details
Identity
- Project
- Santa Fe Mine Project
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- Nevada
- Ticker
- LG
Resource scope
- Estimate type
- resource
- Effective date
- 2024-12-10T00:00:00.000Z
- Reporting standards
- ni_43_101
- Resource group id
- resource:f4a4c62ae743abf347f9
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 16760000
- Grade
- 0.74
- Grade Unit
- g/t
- Contained Metal
- 411000
- Contained Unit
- oz au eq
- Cutoff Grade
- 0.15
- Cutoff Unit
- g/t AuEq
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-30T00:00:00.000Z
Reasoning: Existing resource baseline provided for context.
Evidence · text
“an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq)”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredSanta Fe Mine Project · silverTonnes: 16760000Grade: 3.25Grade Unit: g/tView all detailsHide details
Identity
- Project
- Santa Fe Mine Project
- Commodity
- silver
- Region
- usa_nv
- Reported Region
- Nevada
- Ticker
- LG
Resource scope
- Estimate type
- resource
- Effective date
- 2024-12-10T00:00:00.000Z
- Reporting standards
- ni_43_101
- Resource group id
- resource:f4a4c62ae743abf347f9
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 16760000
- Grade
- 3.25
- Grade Unit
- g/t
- Cutoff Grade
- 0.15
- Cutoff Unit
- g/t AuEq
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-30T00:00:00.000Z
Reasoning: Existing resource baseline provided for context.
Evidence · text
“16,760,000 grading 0.74 g/t Au and 3.25 g/t Ag”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.