Lahontan Gold (LG.V) has released the assay results from four core holes that were drilled in late 2021 at the Santa Fe pit area.
Hole SF21-006c delivered the headline result with an interval of just under 226 meters containing 1.22 g/t gold and 3.4 g/t silver for a gold-equivalent grade of 1.26 g/t. This very thick interval contains two higher grade zones with for instance 2.1 meters of 14.31 g/t gold and 16 meters containing 2.29 g/t gold. That’s good, but also necessary considering this hole did not contain any oxide-hosted gold mineralization as the rock was classified as ‘transition & fresh’. Interestingly, this hole ended in mineralization which indicates the gold-bearing zone extends further at depth.
Hole 7 was interesting as well but 64 meters containing 0.66 g/t gold and 5.4 g/t silver is perhaps a little bit light considering the gold mineralization is hosted in fresh rock, and considering the mineralized interval started at a depth of 336 meters down-hole. This hole was targeting the projected extension of the Calvada fault.
Holes 8 and 9 did contain gold mineralization but the grades were definitely light there. Hole 9 was aiming to intersect the Calvada fault where hole 7 encountered the 0.74 g/t gold-equivalent but seems to have missed the main structure. Nonetheless, Lahontan Gold was able to extend the mineralization for over 1,000 meters towards the southeast from the past-producing pits.
Disclosure: The author has no position in Lahontan Gold. Please read our disclaimer.