Lahontan Gold (LG.V) has released an updated resource calculation on its flagship Santa Fe project, using the data from almost 1,000 drill holes for a total of almost 100,000 meters of drilling. The total resource has now increased to 1.54 million ounces gold-equivalent in the indicated resource category at an average grade of 0.99 g/t AuEq with an additional 411,000 ounces in the inferred resource category at an average grade of 0.76 g/t gold-equivalent (the gold-equivalent grades in both resource categories include the impact of metallurgical recovery rates, including the very low recovery rate for the silver in the oxide zone). Lahontan Gold has thrown everything onto one pile and the oxide resources contain 626,000 ounces of gold in the indicated resource category with an additional 216,000 ounces of gold in the inferred resource category.
The non-oxide zones of the deposit contain 813,000 ounces of gold in the indicated resource category as well as 185,000 ounces of gold in the inferred resource category. It’s also interesting to note the current resource block model indicates the gold and silver mineralization extends beyond the current conceptual pit shells which could pave the way for further resource growth.
Disclosure: The author has a long position in Lahontan Gold. Please read the disclaimer.
