Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has announced the addition of three seasoned professionals to its management team as the company accelerates its transition from mine developer to mine builder, with a targeted 2027 production restart at the Santa Fe Mine in Nevada. The strategic hires underscore the company's commitment to advancing the project through permitting, mine planning, and eventual construction and operations.
Tony Gesualdo rejoins Lahontan as vice president of exploration, a role he previously held from 2020 to 2023, during which he was instrumental in the initial Mineral Resource Estimate for the Santa Fe Mine. His deep familiarity with the project's geology and resource model is expected to be invaluable as the company continues to refine and expand its understanding of the deposit. Michael Kubel steps in as senior mine engineer, bringing over a decade of experience in Nevada open-pit gold mining and heap-leach operations, including stints at the Florida Canyon and Hycroft mines. His operational expertise will be crucial in optimizing mine design and production scheduling. Jen Earle joins the team to lead investor relations and business development, leveraging two decades of experience in natural resources, capital markets, and investor engagement across major exchanges including the LSE, ASX, and TSX.
Founder, Executive Chair, CEO, and President Kimberly Ann commented on the additions, stating that they significantly strengthen the company's technical, operational, and business development capabilities during this pivotal phase. She highlighted that as Santa Fe advances through permitting and mine planning, having a robust team in place is essential to ensure a smooth transition toward construction and operations.
The Santa Fe Mine project, which spans 26.4 square kilometers, has a rich production history, having produced 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 via open-pit mining and heap-leach processing. According to the company's NI 43-101 compliant Technical Report, the project hosts an Indicated Mineral Resource of 1,539,000 ounces of gold equivalent (Au Eq) and an Inferred Mineral Resource of 411,000 ounces Au Eq. These resources are pit-constrained and reported using a cut-off grade of 0.15 g/t Au Eq for oxide resources and 0.60 g/t Au Eq for non-oxide resources, with assumptions of a gold price of $1,950 per ounce and a silver price of $23.50 per ounce.
Lahontan's immediate focus is on updating the Santa Fe Preliminary Economic Assessment and drilling its satellite West Santa Fe project during 2025, with the ultimate goal of restarting production at Santa Fe by 2027. The company's technical disclosure has been reviewed and approved by Michael Lindholm, CPG, an independent consulting geologist, who confirms that the resource figures align with the Technical Report.
These management additions come at a critical time as Lahontan positions itself to capitalize on the growing demand for gold and silver. With a strengthened team and a clear roadmap, the company is better equipped to navigate the complexities of mine development and bring the Santa Fe Mine back into production, potentially creating significant value for shareholders and contributing to the local economy.
