Curated News
By: NewsRamp Editorial Staff
June 02, 2026

Lahontan Gold Mobilizes Second Rig, Reports Strong Recoveries at Santa Fe

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Original Source

TLDR

  • Lahontan Gold's Santa Fe Mine, a past producer with 81% gold recoveries, offers a clear advantage over exploration-stage peers.
  • Lahontan Gold received plan approval, mobilizing a second drill rig to test 700+ locations, with cyanide tests averaging 81% gold recovery.
  • Lahontan Gold's heap-leach processing minimizes environmental impact, supporting sustainable mining that benefits local communities.
  • Lahontan Gold's Santa Fe Mine previously produced 359k ounces gold; now 700+ new drill targets await testing.

Impact - Why it Matters

This news matters because it demonstrates that Lahontan Gold is transitioning from an exploration-stage company to a development-stage one, a critical step in the current capital-constrained junior mining market. The approval of the Plan of Operations and strong metallurgical results increase the likelihood of advancing the Santa Fe project toward production, potentially creating value for shareholders and contributing to Nevada's gold output. For investors, it signals that the company has tangible assets and a clear pathway, reducing risk compared to pure exploration plays.

Summary

Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) is advancing its Santa Fe Mine project in Nevada with a second drill rig now mobilized following approval of its exploration Plan of Operations, unlocking over 700 new drill locations. The company recently reported cyanide extractable analyses from its 2025 reverse-circulation program at West Santa Fe, averaging 81% gold and 60% silver recoveries, which bolster the heap-leach processing thesis for this past-producing asset. The Santa Fe Mine has a history of production between 1988 and 1995, yielding 359,202 ounces of gold and 702,067 ounces of silver, and now features a defined NI 43-101 resource base and a clear development pathway outlined by management.

In a junior mining capital environment where investors demand more than geological promise, Lahontan Gold stands out with tangible metrics: permitted access, metallurgical results, and a realistic path to production. The Santa Fe project is not a concept but a past producer with active permits and proven metallurgy, as highlighted in the news release. The company’s progress is being tracked via its newsroom at ibn.fm/LGCXF, and additional coverage is available through MiningNewsWire, a platform within the Dynamic Brand Portfolio @ IBN that delivers enhanced press release distribution and syndication to 5,000+ outlets.

This update underscores Lahontan’s strategy to de-risk its Santa Fe project, moving beyond exploration into development. With a second drill rig operational and strong metallurgical recoveries, the company is positioning itself to potentially become a near-term gold producer, leveraging existing infrastructure and a permitted land package in Nevada’s Walker Lane district.

Source Statement

This curated news summary relied on content disributed by InvestorBrandNetwork (IBN). Read the original source here, Lahontan Gold Mobilizes Second Rig, Reports Strong Recoveries at Santa Fe

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