Lahontan Gold Stock Price, News & Analysis

Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) has submitted an amended Notice of Intent (NOI) to the Bureau of Land Management for additional drilling at its Santa Fe Mine project in Nevada's Walker Lane gold belt. The amended NOI proposes eight additional drill sites that will allow for multiple drill holes, providing more flexibility for the upcoming 2025 exploration and resource definition drilling program. The company expects prompt approval and plans to focus on the Slab and York resource areas for geologic data collection and metallurgical testing.

Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) has announced significant changes to its Board of Directors, effective May 1, 2025. The company will appoint three new directors: Shane Williams, Evan Pelletier, and Max Pluss, while Chris Donaldson and Bob McKnight will step down. Josh Serfass and Kimberly Ann will remain on the Board.

The new appointments bring substantial expertise in mine engineering, finance, and capital markets. Shane Williams, current CEO of West Red Lake Gold Mines, brings extensive experience in mine development and operations. Evan Pelletier contributes over 30 years of underground mining expertise and was part of Kirkland Lake Gold's growth from $400M to $13B. Max Pluss adds investment expertise through his role as Founder of Rhea Capital Management.

This board restructuring aligns with Lahontan's transition from exploration to mine development, particularly focusing on the Santa Fe Mine Project's development and permitting pathway.

Lahontan Gold Corp (TSXV: LG) (OTCQB: LGCXF) is advancing its operations in Nevada's prolific mining region with a strategic focus on developing a proven gold asset. The company's dual-pronged approach aims to achieve near-term production while simultaneously expanding its gold resource base. Operating in Nevada's stable jurisdiction, Lahontan's strategy is designed to generate cash flow through expedited development of its gold asset.

Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) has provided an update on its Exploration Plan of Operations (EPOO) for the Santa Fe Mine project, submitted to the U.S. Bureau of Land Management (BLM) in November 2024. The company expects the BLM to issue a formal completeness determination soon, advancing the project to the National Environmental Policy Act (NEPA) phase.

The EPOO, when approved, will permit up to 750 drill holes at Santa Fe. Meanwhile, Lahontan can continue exploration drilling under a Notice of Intent (NOI) and on patented mining claims. Of the eight environmental baseline reports submitted, four received no comments (Biology, Social and Economic Values, Paleontology, Visual Resources), while three have been addressed (Raptors, Surface Hydrology, Air Quality). The final Cultural Resources report response will be submitted this week.

The company anticipates receiving a Finding of No Significant Impact (FONSI) and formal EPOO approval by late 2025.

Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) has announced its 2025 Phase One drilling program for the West Santa Fe gold and silver project in Nevada's Walker Lane, located 13 kilometers from its flagship Santa Fe Mine project. The company plans to drill 26 reverse-circulation holes, totaling 6,300 metres, to validate historic drilling and explore step-out targets.

The program aims to build upon previous drilling efforts, which comprised over 13,000 metres across 171 drill holes. These historic drilling results revealed a zone of shallow, oxidized gold and silver mineralization that could potentially form a minable mineral resource under NI 43-101 standards. Surface rock geochemistry has shown promising results, with grab samples grading up to 2.61 g/t gold.

The company will submit a Notice of Intent to the Bureau of Land Management for permits, utilizing existing roads for access and drill platforms to minimize surface disturbance.

Lahontan Gold Corp (TSXV: LG) (OTCQB: LGCXF) has successfully closed a non-brokered private placement, raising Cdn$720,000 through the issuance of 36,000,000 common shares at Cdn$0.02 per share. Additionally, Victoria Gold Corp has completed the sale of 42,132,139 common shares (17.4% ownership) to existing shareholders, including two prominent precious metals institutional investors.

The proceeds will be allocated as follows: 29% for general and administrative purposes, 29% for Santa Fe Mine project exploration, 17% for metallurgical testing and consultants, and 25% for exploration permitting. The shares issued in the offering will have a four-month hold period until June 5, 2025.

The company's CEO highlighted that the Victoria Sale removes a significant share overhang that had negatively impacted the stock price since Victoria's receivership announcement in August 2024. The transaction aligns management with key shareholders for the development of the Santa Fe Mine project.

Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) has announced the filing of an independent Technical Report and Preliminary Economic Assessment (PEA) for its Santa Fe Mine gold and silver project in Nevada. The report, titled 'Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project,' is effective December 10, 2024, and dated January 24, 2025.

The Technical Report, prepared in compliance with National Instrument 43-101, supports the company's previous disclosure from December 11, 2024, with no material differences noted. The document is now available on SEDAR+ and the company's website.