Lahontan to Drill Historic Santa Fe Heap Leach Pads for Residual Gold & Silver
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
- Extracted
- 2026-09-18 06:48:23 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Lahontan Gold Corp. plans to commence a 95-hole sonic core drilling program to evaluate the gold and silver resource potential of historic heap leach pads at the Santa Fe Gold Mine in Nevada. The project aims to leverage existing crushed material to potentially augment mine economics at low cost.
Reasoning: The announcement outlines a strategic drill program to evaluate upside potential in historic heap leach pads, which could augment existing mine economics at a low cost.
Positive factors
- Planned drill program targeting historic heap leach pads for resource expansion
- Low-cost reprocessing potential (already crushed, no stripping)
- Existing NI 43-101 compliant resource base
Negative factors
- Drilling is targeting historic material, which carries inherent geological uncertainty
Facts used in scoring: 5
Classification and evidence
Step-Out Extensionpositive
Mineralization extended beyond the previously known limit.
Why it applies: The program aims to evaluate the upside potential of historic heap leach pads to expand the resource.
Evidence · text
“evaluate the upside potential of the historic HL pads”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The company references a compliant NI 43-101 Technical Report and a Qualified Person sign-off.
Evidence · text
“Canadian National Instrument 43-101 compliant Indicated Mineral Resource”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document provides details on the current Indicated and Inferred mineral resources.
Evidence · text
“has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource”
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: 5. Some facts used in scoring do not have a stored record.
Drill Results (1)
Fact 1Santa Fe Mine · goldNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Santa Fe Mine
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- usa_nv
- Ticker
- LG
Classification
- Program
- exploration
- Sample Type
- drill
QA/QC
- QP Signed
- Yes
- QA/QC Methods
- standards
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-04-20T00:00:00.000Z
Reasoning: Planned exploration drilling to test historic material.
Positive factors
- Targeting low-cost material
Evidence · text
“plans to drill 95 sonic core holes totalling 1,740 metres across the four historic HL pads”
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
- QP Signed
- Yes
- Qualified person names
- Brian J. Maher
- Resource group id
- resource:8848811ac1ae492cfb29
- Deposit or zone
- Santa Fe Mine
- Mining method
- open_pit
- Material type
- oxide
- Resource basis
- attributable
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
- 2026-04-20T00:00:00.000Z
Reasoning: Existing indicated resource reported as part of the project context.
Positive factors
- Large tonnage indicated resource
Evidence · text
“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
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
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
- QP Signed
- Yes
- Qualified person names
- Brian J. Maher
- Resource group id
- resource:8848811ac1ae492cfb29
- Deposit or zone
- Santa Fe Mine
- Mining method
- open_pit
- Material type
- oxide
- Resource basis
- attributable
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
- 2026-04-20T00:00:00.000Z
Reasoning: Secondary metal grade within the indicated resource.
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
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
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
- QP Signed
- Yes
- Qualified person names
- Brian J. Maher
- Resource group id
- resource:3e59f4e12a55d1cc5fd7
- Deposit or zone
- Santa Fe Mine
- Mining method
- open_pit
- Material type
- oxide
- Resource basis
- attributable
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
- 2026-04-20T00:00:00.000Z
Reasoning: Existing inferred resource reported as part of the project context.
Negative factors
- Inferred category limits economic confidence
Evidence · text
“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
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
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
- QP Signed
- Yes
- Qualified person names
- Brian J. Maher
- Resource group id
- resource:3e59f4e12a55d1cc5fd7
- Deposit or zone
- Santa Fe Mine
- Mining method
- open_pit
- Material type
- oxide
- Resource basis
- attributable
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
- 2026-04-20T00:00:00.000Z
Reasoning: Secondary metal grade within the inferred resource.
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
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
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.