Lahontan Gold Corp. Receives BLM Approval for Expanded Drilling at Santa Fe Mine Project
TL;DR
Lahontan Gold Corp secures BLM approval to expand drilling at Santa Fe Mine, offering investors a strategic advantage in accessing untapped gold and silver resources.
The approved amendment allows Lahontan Gold Corp to conduct new drill tests on federal claims, targeting extensions in the Slab and York zones for resource assessment.
Expanding exploration at Santa Fe Mine could lead to sustainable mining practices, contributing to local economies and advancing responsible resource development in Nevada.
Lahontan Gold Corp's drilling expansion at Santa Fe Mine unveils potential for significant gold and silver discoveries, marking an exciting phase in mineral exploration.
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Lahontan Gold Corp. has received approval from the U.S. Bureau of Land Management for expanded drilling operations at its flagship Santa Fe Mine project in Nevada. The authorization permits the company to explore new drill sites on unpatented federal claims, specifically targeting extensions of known gold and silver resources in the Slab and York zones. This development represents a significant advancement for the company's exploration efforts in the prolific Walker Lane trend, a region renowned for its substantial mineral wealth.
The Santa Fe Mine project encompasses 26.4 square kilometers and has a documented production history of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995. According to Canadian National Instrument 43-101 standards, the project contains an Indicated Mineral Resource of 1,539,000 ounces of gold equivalent and an Inferred Mineral Resource of 411,000 ounces of gold equivalent. These substantial resource estimates establish the Santa Fe Mine as a major asset for Lahontan Gold Corp. and highlight the project's potential for significant economic contribution to Nevada's mining sector.
The BLM approval reflects a collaborative approach to mineral resource development that balances economic opportunities with environmental considerations. This regulatory milestone enables the company to accelerate its exploration activities during a period of robust gold and silver prices, potentially leading to expanded resource estimates and extended mine life. The expanded drilling program could have substantial implications for both the company and the broader mining industry in Nevada, reinforcing the state's position as a leading mining jurisdiction.
Phase One drilling is currently underway at the Santa Fe Mine project, with assay results from several completed holes expected to be released in the coming weeks. The outcomes of this expanded drilling initiative will be closely monitored by industry observers, as successful resource expansion could mark an important chapter in Nevada's mining history and contribute to local economic development while maintaining responsible environmental stewardship practices.
Curated from InvestorBrandNetwork (IBN)
