Lahontan Gold Corp. Announces Promising Shallow Oxide Intercepts at West Santa Fe
Lahontan Gold Corp. (TSX Venture: LG, OTCQB: LGCXF) released a series of drilling results from its 2025 maiden program at the satellite West Santa Fe property on 18 February 2026. The company reported a 49‑meter intercept grading 0.83 g t Au Eq, which includes an 11‑meter segment grading 1.83 g t Au Eq. These figures are consistent with earlier data published on the same day by GlobeNewswire and InvestingNews, and they reinforce the potential for low‑strip‑ratio open‑pit mining in the area.
Key Metrics from the Drilling Program
| Parameter | Result | Source |
|---|---|---|
| Total length | 49 m | GlobeNewswire; InvestingNews |
| Grade (Au Eq) | 0.83 g t | GlobeNewswire; InvestingNews |
| High‑grade segment | 11 m | GlobeNewswire; InvestingNews |
| Grade (Au Eq) of high‑grade segment | 1.83 g t | GlobeNewswire; InvestingNews |
These data come from hole WSF25‑02R, which was drilled in the West Santa Fe area, situated merely 13 km from Lahontan’s flagship Santa Fe mine. The intercept is open at both ends, suggesting that the mineralization may continue beyond the measured interval.
Context within the West Santa Fe Exploration Programme
The 2025 drilling campaign was designed to test the surface expression of gold and silver mineralization that the company believes stretches roughly 500 m by 350 m. According to a contemporaneous release on AllPennysStocks, the program has already uncovered 48.8 m grading 0.83 g t Au Eq (hole WSF25‑02R) and 45.7 m grading 0.64 g t Au Eq (hole WSF25‑05R). The new 49‑meter result aligns with these earlier findings and strengthens the case for a substantial oxide zone that could be economically mined with a low strip ratio.
Management highlighted that the mineralization begins at the surface and remains open to the north and west. This geometry is particularly attractive because it may allow the company to pursue low‑strip‑ratio open‑pit mining, which can reduce capital intensity compared to underground operations.
Relationship to the Flagship Santa Fe Mine
Lahontan Gold’s flagship Santa Fe property is a 26.4 km² mine in Nevada’s Walker Lane that historically produced 359,202 oz of gold and 702,067 oz of silver between 1988 and 1995. The company maintains a Canadian National Instrument 43‑101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq and an Inferred Mineral Resource of 411,000 oz Au Eq, all pit‑constrained. The ongoing exploration at West Santa Fe is intended to support an updated Preliminary Economic Assessment for the Santa Fe mine and to validate the potential for additional ore bodies that could further enhance the project’s economics.
Market Implications
The company’s stock closed at CAD 0.255 on 18 February 2026, within a 52‑week range of CAD 0.0275 to CAD 0.335. While the share price reflects the speculative nature of junior exploration companies, the latest drill results are a positive technical development that may attract additional investment interest. Analysts will likely monitor subsequent drilling phases for confirmation of the mineralization’s thickness, continuity, and economic feasibility.
Conclusion
Lahontan Gold Corp.’s 2025 drilling program at West Santa Fe has yielded a significant shallow oxide intercept that adds to a growing body of evidence supporting the area’s gold and silver potential. The company’s emphasis on a low‑strip‑ratio open‑pit concept, combined with the proximity to its proven Santa Fe mine, positions the West Santa Fe property as a promising extension to the existing operation. As the company prepares to release final results from the program and refine its economic models, stakeholders will be watching closely for signals that the mineralization can transition from exploration to production.
