# Lahontan Gold Announces Updated Santa Fe Preliminary Economic Assessment Featuring an Eleven-Year Mine Life and Post-Tax NPV5 of US$820 Million

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20

Original source: https://www.globenewswire.com/news-release/2026/10/14/3380910/0/en/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuring-an-eleven-year-mine-life-and-post-tax-npv5-of-us-820-million.html

Publisher: globenewswire

Original announcement: 2026-10-14T00:00:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-10-14T16:36:00.479Z

Atlas analysis updated: 2026-10-14T16:36:00.479Z

- Company: Lahontan Gold Corp.

- Ticker: LG

- Exchange: Unavailable

- Region: Nevada

- Primary commodity: Gold

- Secondary commodities: Silver

- Document categories: Other, Resource update, Metallurgy

- Extracted: 2026-10-14 16:36:01 UTC

Narrative sentiment: 0.90 · Bullish

## Minestarters Atlas summary

Lahontan Gold Corp. announced a highly positive updated Preliminary Economic Assessment for its Santa Fe Mine gold-silver project in Nevada, featuring a post-tax NPV5 of US$820 million and an IRR of 40.1% over an 11-year mine life. This represents a fourteen-fold increase in NPV5 compared to the 2024 PEA, driven by projected life-of-mine production of over 1 million gold equivalent ounces and manageable pre-production capital costs of US$172 million. The study, prepared to NI 43-101 standards, highlights the project's significant economic potential and cash flow generation.

Reasoning: The updated PEA demonstrates robust project economics with a post-tax NPV5 of US$820 million and an IRR of 40.1%, representing a significant improvement over the previous assessment and outlining a clear path to production.

- Positive factor: strong\_npv\_irr

- Positive factor: short\_payback\_period

- Positive factor: significant\_increase\_from\_prior\_pea

- Positive factor: high\_lom\_production

- Positive factor: manageable\_capital\_costs

- Positive factor: ni\_43\_101\_compliant

- Negative factor: preliminary\_economic\_assessment

- Negative factor: inferred\_resources\_included

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 21

## Classification and evidence

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: The document is a Preliminary Economic Assessment \(PEA\) which is an early-stage economic study.

Evidence · text

> Preliminary Economic Assessment \(" PEA "\)

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: The PEA and MRE were prepared in accordance with Canadian National Instrument 43-101.

Evidence · text

> in accordance with Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects \(" NI 43-101 "\)

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: The PEA and MRE were prepared by named Qualified Persons \(Caleb Cook, Thomas Dyer, Michael Lindholm\).

Evidence · text

> The qualified persons are Caleb Cook, P.E. of Kappes, Cassiday & Associates; Thomas Dyer, P.E. and Michael Lindholm C.P.G. of RESPEC; each of whom is an independent “Qualified Person” under NI 43-101.

**Tonnage Growth**

Polarity: positive

Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved.

Why it applies: The PEA shows a significant increase in NPV5 compared to the 2024 PEA, implying a positive change in project scale or economics.

Evidence · text

> The base-case post-tax NPV 5 of US$820 million represents an increase of more than fourteen-fold compared with the 2024 PEA \(US$56.5 million\)

**Heap Leach Route**

Polarity: neutral

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: The processing method described is conventional heap leaching.

Evidence · text

> Mineralized material from the Santa Fe, Calvada, Slab and York deposits will be processed by conventional heap leaching methods.

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: The PEA includes Inferred Mineral Resources, which are considered speculative.

Evidence · text

> The PEA is preliminary in nature, includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: The MRE includes a significant Indicated Mineral Resource component.

Evidence · text

> NI 43-101 compliant Indicated Mineral Resource of 1,195,000 oz Au Eq

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: Cut-off grades for the resource estimate are clearly stated.

Evidence · text

> Mineral resources are reported using a cut-off grade of 0.10 g/t Au Eq for oxide and transitional resources which are reported together, and 0.30 g/t Au Eq for sulfide resources.

**Multi-Domain Tested**

Polarity: positive

Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed.

Why it applies: 4 distinct composites were tested

## Extracted facts

Stored fact records: 20. Some facts used in scoring do not have a stored record.

## Resource Estimates (4)

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-resource-facts-17)

Santa Fe Mine · gold

#### Identity

- Project: Santa Fe Mine
- Commodity: gold
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Michael S. Lindholm
- Resource group id: resource:5456ce40d22a98e1b590
- Mining method: open\_pit

#### Resource Data

- Category: indicated
- Tonnes: 47532000
- Grade: 0.72
- Grade Unit: g/t
- Contained Metal: 1195000
- Contained Unit: oz
- Cutoff Grade: 0.1
- Cutoff Unit: g/t Au Eq

#### Prior Estimate

- Resource Date: 2026-10-01

#### Metal Equivalent

- Metal Eq. Grade: 0.78
- Metal Eq. Unit: g/t Au Eq
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: The project has a substantial Indicated Mineral Resource of 1.195 million gold equivalent ounces, compliant with NI 43-101 standards.

- Positive factor: indicated\_resource

- Positive factor: ni\_43\_101\_compliant

- Positive factor: qp\_signed

Evidence · text

> NI 43-101 compliant Indicated Mineral Resource of 1,195,000 oz Au Eq \(47,532,000 tonnes grading 0.72 g/t Au and 5.55 g/t Ag, together grading 0.78 g/t Au Eq\)

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-resource-facts-18)

Santa Fe Mine · silver

#### Identity

- Project: Santa Fe Mine
- Commodity: silver
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Michael S. Lindholm
- Resource group id: resource:5456ce40d22a98e1b590
- Mining method: open\_pit

#### Resource Data

- Category: indicated
- Tonnes: 47532000
- Grade: 5.55
- Grade Unit: g/t
- Cutoff Grade: 0.1
- Cutoff Unit: g/t Au Eq

#### Prior Estimate

- Resource Date: 2026-10-01

#### Metal Equivalent

- Metal Eq. Grade: 0.78
- Metal Eq. Unit: g/t Au Eq
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: The project includes a significant silver component within the Indicated Mineral Resource, compliant with NI 43-101 standards.

- Positive factor: indicated\_resource

- Positive factor: ni\_43\_101\_compliant

- Positive factor: qp\_signed

Evidence · text

> NI 43-101 compliant Indicated Mineral Resource of 1,195,000 oz Au Eq \(47,532,000 tonnes grading 0.72 g/t Au and 5.55 g/t Ag, together grading 0.78 g/t Au Eq\)

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-resource-facts-19)

Santa Fe Mine · gold

#### Identity

- Project: Santa Fe Mine
- Commodity: gold
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Michael S. Lindholm
- Resource group id: resource:ef8da68e80ad8d078056
- Mining method: open\_pit

#### Resource Data

- Category: inferred
- Tonnes: 60605000
- Grade: 0.59
- Grade Unit: g/t
- Contained Metal: 1190000
- Contained Unit: oz
- Cutoff Grade: 0.1
- Cutoff Unit: g/t Au Eq

#### Prior Estimate

- Resource Date: 2026-10-01

#### Metal Equivalent

- Metal Eq. Grade: 0.61
- Metal Eq. Unit: g/t Au Eq
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: The project has a large Inferred Mineral Resource of 1.19 million gold equivalent ounces, compliant with NI 43-101 standards, but this category is speculative.

- Positive factor: ni\_43\_101\_compliant

- Positive factor: qp\_signed

- Negative factor: inferred\_resource

Evidence · text

> Inferred Mineral Resource of 1,190,000 oz Au Eq \(60,605,000 tonnes grading 0.59 g/t Au and 2.40 g/t Ag, together grading 0.61 g/t Au Eq\)

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-resource-facts-20)

Santa Fe Mine · silver

#### Identity

- Project: Santa Fe Mine
- Commodity: silver
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Michael S. Lindholm
- Resource group id: resource:ef8da68e80ad8d078056
- Mining method: open\_pit

#### Resource Data

- Category: inferred
- Tonnes: 60605000
- Grade: 2.4
- Grade Unit: g/t
- Cutoff Grade: 0.1
- Cutoff Unit: g/t Au Eq

#### Prior Estimate

- Resource Date: 2026-10-01

#### Metal Equivalent

- Metal Eq. Grade: 0.61
- Metal Eq. Unit: g/t Au Eq
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: The project includes a silver component within the Inferred Mineral Resource, compliant with NI 43-101 standards, but this category is speculative.

- Positive factor: ni\_43\_101\_compliant

- Positive factor: qp\_signed

- Negative factor: inferred\_resource

Evidence · text

> Inferred Mineral Resource of 1,190,000 oz Au Eq \(60,605,000 tonnes grading 0.59 g/t Au and 2.40 g/t Ag, together grading 0.61 g/t Au Eq\)

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: the release names the study this estimate supports

## Metallurgical Results (16)

### heap leach

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-metallurgical-facts-1)

Santa Fe Mine · gold

#### Identity

- Project: Santa Fe Mine
- Commodity: gold
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Test Work

- Program Status: scoping
- Test Type: heap leach
- Processing Route: conventional heap leaching methods
- Sample: Santa Fe Oxide

#### Recovery

- Recovery: 71 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: Gold recovery for Santa Fe Oxide material is strong at 71% for a heap leach operation.

- Positive factor: high\_recovery

Evidence · table

> 71%

Context: Santa Fe Oxide

#### Tags used in scoring

**Heap Leach Route**

Polarity: neutral

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: processing\_route matches the heap\_leach signal

### heap leach

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-metallurgical-facts-2)

Santa Fe Mine · gold

#### Identity

- Project: Santa Fe Mine
- Commodity: gold
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Test Work

- Program Status: scoping
- Test Type: heap leach
- Processing Route: conventional heap leaching methods
- Sample: Santa Fe Transition

#### Recovery

- Recovery: 49 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: Gold recovery for Santa Fe Transition material is weak at 49% for a heap leach operation.

- Negative factor: low\_recovery

Evidence · table

> 49%

Context: Santa Fe Transition

#### Tags used in scoring

**Heap Leach Route**

Polarity: neutral

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: processing\_route matches the heap\_leach signal

### heap leach

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-metallurgical-facts-3)

Santa Fe Mine · gold

#### Identity

- Project: Santa Fe Mine
- Commodity: gold
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Test Work

- Program Status: scoping
- Test Type: heap leach
- Processing Route: conventional heap leaching methods
- Sample: Santa Fe Sulfide

#### Recovery

- Recovery: 68 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: Gold recovery for Santa Fe Sulfide material is moderate at 68% for a heap leach operation, especially with pre-oxidation.

- Positive factor: moderate\_recovery

Evidence · table

> 68%

Context: Santa Fe Sulfide

#### Tags used in scoring

**Heap Leach Route**

Polarity: neutral

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: processing\_route matches the heap\_leach signal

### heap leach

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-metallurgical-facts-4)

Santa Fe Mine · gold

#### Identity

- Project: Santa Fe Mine
- Commodity: gold
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Test Work

- Program Status: scoping
- Test Type: heap leach
- Processing Route: conventional heap leaching methods
- Sample: Calvada Oxide

#### Recovery

- Recovery: 71 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: Gold recovery for Calvada Oxide material is strong at 71% for a heap leach operation.

- Positive factor: high\_recovery

Evidence · table

> 71%

Context: Calvada Oxide

#### Tags used in scoring

**Heap Leach Route**

Polarity: neutral

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: processing\_route matches the heap\_leach signal

### heap leach

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-metallurgical-facts-5)

Santa Fe Mine · gold

#### Identity

- Project: Santa Fe Mine
- Commodity: gold
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Test Work

- Program Status: scoping
- Test Type: heap leach
- Processing Route: conventional heap leaching methods
- Sample: Calvada Transition

#### Recovery

- Recovery: 45 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: Gold recovery for Calvada Transition material is weak at 45% for a heap leach operation.

- Negative factor: low\_recovery

Evidence · table

> 45%

Context: Calvada Transition

#### Tags used in scoring

**Heap Leach Route**

Polarity: neutral

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: processing\_route matches the heap\_leach signal

### heap leach

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-metallurgical-facts-6)

Santa Fe Mine · gold

#### Identity

- Project: Santa Fe Mine
- Commodity: gold
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Test Work

- Program Status: scoping
- Test Type: heap leach
- Processing Route: conventional heap leaching methods
- Sample: Slab Oxide

#### Recovery

- Recovery: 52 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: Gold recovery for Slab Oxide material is weak at 52% for a heap leach operation.

- Negative factor: low\_recovery

Evidence · table

> 52%

Context: Slab Oxide

#### Tags used in scoring

**Heap Leach Route**

Polarity: neutral

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: processing\_route matches the heap\_leach signal

### heap leach

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-metallurgical-facts-7)

Santa Fe Mine · gold

#### Identity

- Project: Santa Fe Mine
- Commodity: gold
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Test Work

- Program Status: scoping
- Test Type: heap leach
- Processing Route: conventional heap leaching methods
- Sample: York Oxide

#### Recovery

- Recovery: 60 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: Gold recovery for York Oxide material is moderate at 60% for a heap leach operation.

- Positive factor: moderate\_recovery

Evidence · table

> 60%

Context: York Oxide

#### Tags used in scoring

**Heap Leach Route**

Polarity: neutral

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: processing\_route matches the heap\_leach signal

### heap leach

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-metallurgical-facts-8)

Santa Fe Mine · gold

#### Identity

- Project: Santa Fe Mine
- Commodity: gold
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Test Work

- Program Status: scoping
- Test Type: heap leach
- Processing Route: conventional heap leaching methods
- Sample: York Transition

#### Recovery

- Recovery: 45 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: Gold recovery for York Transition material is weak at 45% for a heap leach operation.

- Negative factor: low\_recovery

Evidence · table

> 45%

Context: York Transition

#### Tags used in scoring

**Heap Leach Route**

Polarity: neutral

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: processing\_route matches the heap\_leach signal

### heap leach

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-metallurgical-facts-9)

Santa Fe Mine · silver

#### Identity

- Project: Santa Fe Mine
- Commodity: silver
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Test Work

- Program Status: scoping
- Test Type: heap leach
- Processing Route: conventional heap leaching methods
- Sample: Santa Fe Oxide

#### Recovery

- Recovery: 30 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: Silver recovery for Santa Fe Oxide material is moderate at 30% for a heap leach operation.

- Positive factor: moderate\_recovery

Evidence · table

> 30%

Context: Santa Fe Oxide

#### Tags used in scoring

**Heap Leach Route**

Polarity: neutral

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: processing\_route matches the heap\_leach signal

**Low Recovery**

Polarity: negative

Definition: Recovery below the weak band for the commodity and processing route.

Why it applies: 30% is below the weak band \(75%\)

### heap leach

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-metallurgical-facts-10)

Santa Fe Mine · silver

#### Identity

- Project: Santa Fe Mine
- Commodity: silver
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Test Work

- Program Status: scoping
- Test Type: heap leach
- Processing Route: conventional heap leaching methods
- Sample: Santa Fe Transition

#### Recovery

- Recovery: 30 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: Silver recovery for Santa Fe Transition material is moderate at 30% for a heap leach operation.

- Positive factor: moderate\_recovery

Evidence · table

> 30%

Context: Santa Fe Transition

#### Tags used in scoring

**Heap Leach Route**

Polarity: neutral

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: processing\_route matches the heap\_leach signal

**Low Recovery**

Polarity: negative

Definition: Recovery below the weak band for the commodity and processing route.

Why it applies: 30% is below the weak band \(75%\)

### heap leach

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-metallurgical-facts-11)

Santa Fe Mine · silver

#### Identity

- Project: Santa Fe Mine
- Commodity: silver
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Test Work

- Program Status: scoping
- Test Type: heap leach
- Processing Route: conventional heap leaching methods
- Sample: Santa Fe Sulfide

#### Recovery

- Recovery: 30 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: Silver recovery for Santa Fe Sulfide material is moderate at 30% for a heap leach operation.

- Positive factor: moderate\_recovery

Evidence · table

> 30%

Context: Santa Fe Sulfide

#### Tags used in scoring

**Heap Leach Route**

Polarity: neutral

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: processing\_route matches the heap\_leach signal

**Low Recovery**

Polarity: negative

Definition: Recovery below the weak band for the commodity and processing route.

Why it applies: 30% is below the weak band \(75%\)

### heap leach

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-metallurgical-facts-12)

Santa Fe Mine · silver

#### Identity

- Project: Santa Fe Mine
- Commodity: silver
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Test Work

- Program Status: scoping
- Test Type: heap leach
- Processing Route: conventional heap leaching methods
- Sample: Calvada Oxide

#### Recovery

- Recovery: 13 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: Silver recovery for Calvada Oxide material is weak at 13% for a heap leach operation.

- Negative factor: low\_recovery

Evidence · table

> 13%

Context: Calvada Oxide

#### Tags used in scoring

**Heap Leach Route**

Polarity: neutral

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: processing\_route matches the heap\_leach signal

**Low Recovery**

Polarity: negative

Definition: Recovery below the weak band for the commodity and processing route.

Why it applies: 13% is below the weak band \(75%\)

### heap leach

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-metallurgical-facts-13)

Santa Fe Mine · silver

#### Identity

- Project: Santa Fe Mine
- Commodity: silver
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Test Work

- Program Status: scoping
- Test Type: heap leach
- Processing Route: conventional heap leaching methods
- Sample: Calvada Transition

#### Recovery

- Recovery: 0 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: Silver recovery for Calvada Transition material is very low at 0% for a heap leach operation.

- Negative factor: low\_recovery

Evidence · table

> 0%

Context: Calvada Transition

#### Tags used in scoring

**Heap Leach Route**

Polarity: neutral

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: processing\_route matches the heap\_leach signal

**Low Recovery**

Polarity: negative

Definition: Recovery below the weak band for the commodity and processing route.

Why it applies: 0% is below the weak band \(75%\)

### heap leach

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-metallurgical-facts-14)

Santa Fe Mine · silver

#### Identity

- Project: Santa Fe Mine
- Commodity: silver
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Test Work

- Program Status: scoping
- Test Type: heap leach
- Processing Route: conventional heap leaching methods
- Sample: Slab Oxide

#### Recovery

- Recovery: 10 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: Silver recovery for Slab Oxide material is weak at 10% for a heap leach operation.

- Negative factor: low\_recovery

Evidence · table

> 10%

Context: Slab Oxide

#### Tags used in scoring

**Heap Leach Route**

Polarity: neutral

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: processing\_route matches the heap\_leach signal

**Low Recovery**

Polarity: negative

Definition: Recovery below the weak band for the commodity and processing route.

Why it applies: 10% is below the weak band \(75%\)

### heap leach

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-metallurgical-facts-15)

Santa Fe Mine · silver

#### Identity

- Project: Santa Fe Mine
- Commodity: silver
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Test Work

- Program Status: scoping
- Test Type: heap leach
- Processing Route: conventional heap leaching methods
- Sample: York Oxide

#### Recovery

- Recovery: 0 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: Silver recovery for York Oxide material is very low at 0% for a heap leach operation.

- Negative factor: low\_recovery

Evidence · table

> 0%

Context: York Oxide

#### Tags used in scoring

**Heap Leach Route**

Polarity: neutral

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: processing\_route matches the heap\_leach signal

**Low Recovery**

Polarity: negative

Definition: Recovery below the weak band for the commodity and processing route.

Why it applies: 0% is below the weak band \(75%\)

### heap leach

[Link to this fact](https://atlas-staging.minestarters.com/news/lahontan-gold-announces-updated-santa-fe-preliminary-economic-assessment-featuri--5db9eba0-8094-436d-a110-d6d178cdda20#fact-metallurgical-facts-16)

Santa Fe Mine · silver

#### Identity

- Project: Santa Fe Mine
- Commodity: silver
- Region: usa\_nv
- Reported Region: Nevada
- Ticker: LG

#### Test Work

- Program Status: scoping
- Test Type: heap leach
- Processing Route: conventional heap leaching methods
- Sample: York Transition

#### Recovery

- Recovery: 0 %
- Recovery Basis: actual\_test

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-10-14T00:00:00.000Z

Reasoning: Silver recovery for York Transition material is very low at 0% for a heap leach operation.

- Negative factor: low\_recovery

Evidence · table

> 0%

Context: York Transition

#### Tags used in scoring

**Heap Leach Route**

Polarity: neutral

Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.

Why it applies: processing\_route matches the heap\_leach signal

**Low Recovery**

Polarity: negative

Definition: Recovery below the weak band for the commodity and processing route.

Why it applies: 0% is below the weak band \(75%\)

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.