On February 1, 2021, KA Gold LLC and Victoria Gold completed a business combination that resulted in the amalgamation of Lahontan Gold Corp (LG), combining three assets in the heart of the prolific Walker Lane, Nevada. KA Gold has 10% control, Victoria having 37% and the rest broken up between retail and institutional investors. The three assets include:
Santa Fe Mine
The Santa Fe Mine is in the Walker Lane mineral belt of western Nevada approximately 50 km from the town of Hawthorne in Mineral County. Nearby operating gold and silver mines include Isabella Pearl (Fortitude Gold) and Borealis (Waterton). The Santa Fe Mine consists of four past-producing open-pits, including the Santa Fe, Slab, Calvada East, and York deposits, within a 19 km2 land package 100% controlled by Lahontan. Gold and silver production occurred between 1988 and 1995 utilizing heap-leach processing that produced a reported 345,000 oz of gold and 711,000 oz of silver (Nevada Bureau of Mines and Geology, 1995). Mineralization occurs as disseminated gold and silver hosted by Triassic age calcareous rocks. Strong stratigraphic and structural controls of mineralization is evident.
Located 15 Km southwest of the Paradise Peak mine (+1.5M oz Au) and contiguous with the Isabella-Peal mine, a high-grade open-pit heap leach operation. Gold was discovered at Santa Fe in the 70’s; Corona Gold produced ~345,000 ounces Au between 1988 and 1992 from an open-pit mine with heap-leach processing.
Corona was acquired by Homestake Mining in 1992; Homestake completed mine closure and reclamation over the next two years. Homestake was subsequently acquired by Barrick in 2001. Through a series of transactions, Victoria Gold acquired a 100% interest in the project in 2012. The project has been under post-closure monitoring since 1999, a US $300,000 bond is in place with the BLM. Annual holding and monitoring costs are US $100,000. Most of the project is gently rolling hills with excellent access.
Moho Project
The Moho Project is comprised of a total of 94 unpatented mining claims located in Mineral County, Nevada. Of this total, 9 claims are subject to the Moho Option Agreement dated May 26, 2017 with Nevada Select Royalty, Inc.; 50 claims are subject to the Mining Lease and Option to Purchase Agreement dated August 30, 2017 with Minquest Ltd. ("Minquest"); and 35 claims are held directly.
Ground mag defines the Moho Structural Corridor, a series of multiple en echelon veins and fault breccias, with a strike length in excess of 2500 meters. KA Gold drilled six core holes in 2018 totaling 1,960 meters with multiple high-grade intercepts. Drilling to date has only tested a narrow vertical range and only one of the multiple vein systems. Data from underground sampling and drilling suggests potential grades of over 20 gpt Au Eq in thoroughly oxidized veins. Permits in place for immediate follow up drilling.
Redlich Project
The Redlich Project is comprised of 76 unpatented mining claims located in Esmeralda County, Nevada that are subject to the Redlich Option Agreement dated May 26, 2017 with Nevada Select Royalty, Inc.
Redlich is located in the Walker Lane about midway between Hawthorne and Tonopah, Nevada. Previous exploration defined a historic resource of 16.5M ounces Ag Eq in Tertiary epithermal veins and stockwork. Drilling in 2018 discovered a new style of mineralization: thick zones of disseminated Au and Ag mineralization hosted by hydrothermal breccias. The new discovery is on strike with the Candelaria open pit Ag mine and is completely untested.