Mining Review 23rd August 2026

What a week that was! A whopping 5% increase in the price of gold, and all courtesy of the US Treasury effectively running QE via the back door!

AIC Mines, Barton Gold, Capricorn Metals, and Lahontan Gold all announced discoveries or increased mineral resources.

City Investors Circle Mining Review 23rd August 2026

What a week that was!

A whopping 5% increase in the price of gold, and all courtesy of the US Treasury effectively running QE via the back door!

Silver (5%), and platinum (6%) tagged along for the ride.

This resulted in some strong share price increases amongst our watchlist portfolio of mining stocks.

+++++++

AIC Mines, Barton Gold, Capricorn Metals, and Lahontan Gold all announced discoveries or increased mineral resources.

Lahontan Gold Corp. (TSX.V: LG)

Announced an updated Mineral Resource Estimate  for its flagship Santa Fe Mine, a past-producing open pit, heap leach, gold and silver mine, located in Nevada’s prolific Walker Lane.

The MRE for Santa Fe is based upon 1,275 drill holes totaling 136,515 metres, including 103 drill holes totaling 23,805 metres drilled by Lahontan from 2021 through
May 2026.

.

Santa Fe mine vista – Courtesy of Lahontan Gold Corp.

.

LAHONTAN ANNOUNCES 22% INCREASE IN MINERAL RESOURCES AT SANTA
FE: 1,195,000 Au Eq oz INDICATED, and 1,190,000 Au Eq oz INFERRED

Toronto Ontario, August 17, 2026 – Lahontan Gold Corp. (TSXV:LG, OTCQB:LGCXF, FSE:Y2F) (the “Company” or “Lahontan”) is pleased to announce an updated Mineral Resource Estimate (“MRE”) for its flagship Santa Fe Mine (“Santa Fe”), a past-producing open pit, heap leach, gold and silver mine, located in Nevada’s prolific Walker Lane.

The MRE for Santa Fe is based upon 1,275 drill holes totaling 136,515 metres, including 103 drill holes totaling 23,805 metres drilled by Lahontan from 2021 through
May 2026.

Highlights of the MRE include:

• Project-wide pit constrained resources increase significantly: Indicated Mineral Resources of 1,195,000 contained gold equivalent (“Au Eq”) ounces and Inferred Mineral Resources of 1,190,000 contained Au Eq ounces, a total increase of 435,000 ounces or 22% over the 2024 MRE (assumptions for Au Eq are described in the Notes to Table One).
• Project-wide average grade for the Indicated Mineral Resource is 0.78 g/t Au Eq; the average grade of the Project-wide Inferred Mineral Resource is 0.61 g/t Au Eq (please see Table One).
• Shallow Slab and York oxide resources expand dramatically: Indicated oxide Resources for the two deposits total 12.09 Mt grading 0.33 g/t Au Eq for 128,000 Au Eq ounces and Inferred oxide Resources total 8.34 Mt grading 0.36 g/t Au Eq for 96,000 Au Eq ounces, an increase of over 37% compared to the resources reported in the 2024 MRE.
• Santa Fe Deposit resources increase by over 26%: Indicated Mineral Resources of 31.15 Mt grading 0.99 g/t Au Eq totaling 993,000 Au Eq ounces and Inferred Mineral Resources of 41.60 Mt grading 0.71 g/t Au Eq totaling 954,000 Au Eq ounces.
• The MRE block model shows that gold and silver mineralization extends well beyond the conceptual pit shells, generating high-quality targets for additional drilling and resource growth, including the increasingly important deep sulfide mineralization at Santa Fe, and throughout the Slab-Calvada-York resource area.

.
Kimberly Ann, Founder, Executive Chair, CEO, and President of Lahontan Gold Corp commented:

“Lahontan is excited by the results of this updated MRE for the Santa Fe Mine, particularly the large growth in total resource ounces and the continued expansion of the shallow Slab and York oxide gold and silver deposits.

 

“The MRE will form the basis of an updated Preliminary Economic Assessment (“PEA”) of the Santa Fe Mine. The PEA will examine mining and process options utilizing low-cost open-pit mining and heap leach processing and very importantly, analyze the mining and processing of Santa Fe’s substantial sulfide resources as a Second Phase in future mine operations.

 

“Our technical consultants, Kappes, Cassiday and Associates (“KCA”) and RESPEC Company LLC (“RESPEC”), both based in Reno, Nevada, are well advanced at project planning, mine design, finalizing the process flow sheet, and optimizing crushing
throughput.

 

“The Company will use the Phase One oxide conventional leach mine plan to complete its State level mine permitting process and the Company’s Mine Plan of Operation (“MPOO”) with the Federal Bureau of Land Management (“BLM”).

 

“With the release of the updated MRE and the soon to be completed PEA, Lahontan continues its transition from mine developer to mine operator, targeting 2027 for mine
construction at Santa Fe.”

.

——-

.

Mining Review 16th August 2026

Cabral Gold received the operating licence for its Cuiu Cuiu gold mine in Brazil.

G Mining Ventures and Avino Silver both reported strong operating and financial results.

.

City Investors Circle Mining Review 16th August 2026

Cabral Gold received the operating licence for its Cuiu Cuiu gold mine in Brazil, and is set to commence phase 1 mining immediately. The share price reacted positively.

G Mining Ventures and Avino Silver both reported strong operating and financial results.

Copper Giant and Errington Metals both received strong financial backing from the markets in placements.

+++++++

Full access to this week’s news stories can be found by clicking the links below,

 Cabral Gold Received the Operating License for the Cuiú Cuiú Gold Mine

  G Mining Ventures Reported Strong Q2 2026 Results

  Avino Silver Reported Q2 2026 Financial Results

  Copper Giant Received Placing Funds from Denarius

  Errington Metals Upsizes Private Placement To $30 Million

  Westgold Cue Hub Expansion to 1.7Mtpa in FY28

  Lahontan Drilled 12.2m Grading 1.25 g/t Au Oxide at Clavada East

  Mining Review 8th August 2026

+++++++

Market Data

Weekly Price Changes

(US$ unless stated)

.

Lahontan Gold Corp. (TSX.V:LG,)

Anounced additional drill results from its 2026 drilling program at the Santa Fe Mine Project.

Highlights include the first significant gold mineralization hosted within Tertiary volcanic rocks along the Summit Fault and additional high-grade oxide mineralization at Calvada East

LAHONTAN DRILLS 12.2m GRADING 1.25 g/t Au OXIDE AT CALVADA EAST

Toronto Ontario, August 5, 2026 – Lahontan Gold Corp. (TSXV:LG, OTCQB:LGCXF, FSE:Y2F) (the “Company” or “Lahontan”) is pleased to announce additional drill results from its 2026 drilling program at the Santa Fe Mine Project.

The results reported herein comprise seven reverse-circulation (“RC”) drill holes totaling 1,990 metres completed in the Calvada East resource area, the Slab West exploration target and a deep geophysical test located between the Slab and Santa Fe resource areas.

Highlights include the first significant gold mineralization hosted within Tertiary volcanic rocks along the Summit Fault and additional high-grade oxide mineralization at Calvada East. Drill results are summarized below:

• Calvada East: Drill hole CAL26-12R, an RC drill hole originally designed for groundwater monitoring, intersected 12.2 metres (166.1 – 178.3m) grading 1.26 g/t Au Eq oxide (1.25 g/t Au, 0.8 g/t Ag) near the base of the current resource pit shell*, including individual 1.5 metre samples ranging up to 3.29 g/t Au.
• Calvada East: Drill hole CAL26-11R, another RC drill hole originally designed for groundwater monitoring, intersected 13.7 metres (176.8 – 190.5m) grading 1.10 g/t Au Eq (1.01 g/t Au, 7.1 g/t Ag) hosted by Tertiary volcanic rocks within the Summit Fault zone. This represents the first significant gold intercept hosted within Tertiary volcanic rocks at the Santa Fe Mine Project and establishes a new exploration target along the Summit Fault.
• Slab West exploration target: Two RC drill holes at Slab West intersected broad intervals of oxide gold and silver mineralization. CAL26-13R intercepted 35.1m (57.9 – 93.0m) of shallow mineralization grading 0.21 g/t Au Eq (0.19 g/t Au, 1.5 g/t Ag), CAL26-15R cut 18.3m (144.8 –163.1m) grading 0.22 g/t Au Eq (0.21 g/t Au, 0.8 g/t Ag).

Mining Review 26th July 2026

Avino Silver, New Murchison Gold, and Westgold posted quarterly results.

Cabral Gold and Lahontan Gold announced good drill results.

.

.

City Investors Circle Mining Review 26th July 2026

Avino Silver, New Murchison Gold, and Westgold posted quarterly results.

Cabral Gold and Lahontan announced good drill results.

+++++++

It was another turbulent week in the markets, particularly mining stocks and commodities, as Trump’s war on Iran swayed to and fro from total annihilation of the population to peace talks, on a daily basis.

It’s nigh on impossible to time an entry at the moment so I just take a long term view and ignore the noise.

I traded a little with my Pacgold sale funds, adding to my position in Equinox Gold as it simply looks too cheap in my opinion. I am taking a long term view based on a premier management team that has been successful in creating shareholder value over a number of companies.

+++++++

Full access to this week’s stories can be found by clicking the links below,

   Avino Silver Announced Q2 2026 Production Results

  New Murchison Gold Posted Quarterly Results for June 2026

  Lahontan Drilled 9.9m at 2.40 g/t Au and 50.7 g/t Ag in Santa Fe Mine Stockpile

  AIC Mines Announced a New MD as Joseph El-Raghy Retires

  Westgold Gold Production Beats FY26 Guidance

  Cabral Gold Drill Results from Infill Drilling at the MG Gold Deposit

  AIC Mines Announce Eloise Three-Year Production Outlook

  Mining Review 19th July 2026

+++++++

Market Data

Weekly Price Changes

(US$ unless stated)

.

Lahontan Gold (TSX.V: LG)

Announced the first drill results from its 2026 Sonic core drilling program at the Santa Fe Mine Project.

The initial results below are from a historic “low-grade” stockpile located adjacent to Heap Leach Pad two at Santa Fe. The drilling confirms significant gold and silver mineralization within the stockpile.

.

LAHONTAN DRILLS 9.9m GRADING 2.40 g/t Au and 50.7 g/t Ag in SANTA FE MINE STOCKPILE

.
Toronto Ontario, July 23, 2026 – Lahontan Gold Corp. (TSXV:LG, OTCQB:LGCXF, FSE:Y2F) (the “Company” or “Lahontan”) is pleased to announce the first drill results from its 2026 Sonic core drilling program at the Santa Fe Mine Project.

The Sonic drilling campaign is evaluating historic heap leach pads and stockpiles to define gold and silver resources that may be suitable for future reprocessing at
substantially lower cost than mining and processing fresh rock.

The initial results below are from a historic “low-grade” stockpile located adjacent to Heap Leach Pad two at Santa Fe. The drilling confirms significant gold and silver mineralization within the stockpile and indicates grades substantially higher than anticipated based on the historic stockpile classification.

Notes: Au Eq equals Au (g/t) + ((Ag g/t/60)*0.70). Silver grade for calculating Au Eq is adjusted to consider historic metallurgical recovery as described in the Santa Fe Project Technical Report*.

All drill holes are vertical, true thickness of the intercepts are approximately 100% of the drilled interval. Numbers may not total precisely due to rounding.

The stockpiled material was mined from the Santa Fe open pit by the previous mine operator, Corona Gold, and was set aside for potential future processing. The stockpile abuts Heap Leach Pad two and is readily accessible. C

N-extractable gold assays range from 5% to 87% of the corresponding fire assay values, averaging more than 30%. These results suggest the stockpiled material is readily amenable to conventional heap leach processing.

Results from six additional Sonic drill holes completed on the “low-grade” stockpile
are expected shortly.

.
Kimberly Ann, Founder, Chair, CEO, and President of Lahontan Gold Corp commented:

“The Sonic drilling campaign at Santa Fe is designed to define and verify the tonnage and grade of material remaining in the four historic heap pads at the mine.

 

“Approximately 16 million tonnes of material were processed on the heap leach pads, residual gold and silver contained within these historic heap leach pads represent a
potentially valuable source of low-cost future feed.

 

“The “low-grade” stockpile adjacent to Heap Leach Pad two has long intrigued our team because it consists of readily accessible mined material that could be potentially crushed and heap leached at relatively low cost.

 

“The results from these first drill holes not only confirm the presence of gold and silver but also show that the grade of the stockpile is considerably higher than anticipated.

 

“The Sonic drilling program has now concluded, with nearly 100 drill holes completed across the four historic heap leach pads. We look forward to reporting additional results as they become available.”

.

——-

.

Lahontan Gold (TSX.V: LG)

Provided an update on mine development and exploration activities at its flagship Santa Fe Mine Project located in mining friendly Nevada’s Walker Lane.

Highlights include an updated MRE expected within weeks, and a revised PEA targeted for completion by the end of August 2026.

.

Santa Fe vista – With kind permission of Lahontan Gold

.

.

LAHONTAN PROVIDES SANTA FE MINE DEVELOPMENT and EXPLORATION
UPDATE

Toronto Ontario, June 30, 2026 – Lahontan Gold Corp. (TSXV:LG, OTCQB:LGCXF, FSE:Y2F) (the “Company” or “Lahontan”) is pleased to provide an update on mine development and exploration activities at its flagship Santa Fe Mine Project located in mining friendly Nevada’s Walker Lane.

Highlights:

• Updated MRE expected within weeks.
• Revised PEA targeted for completion by the end of August 2026.
• 87 drill holes (7,751 m) completed year-to-date.
• New Slab West discovery remains open in all directions.
• Historic heap leach pad drilling underway to evaluate potential reprocessing

The mine permitting team continues to make timely progress on the waste rock geochemical characterization program and ground water modeling, part of the Nevada state mine permitting process.

The preparation of an updated Mineral Resource Estimate (“MRE”) for Santa Fe is nearly complete, a crucial step in developing an open pit mine plan for the restart of gold and silver production at the project.

With an updated MRE, the Company will also complete a revised Preliminary Economic Assessment (“PEA”), which will include detailed description of key mine infrastructure including heap leach pads, open pits, and locations for waste rock storage.

With the PEA in hand, the Company will be able to submit a Mine Plan of Operations (“MPOO”) to the Federal Bureau of Land Management (“BLM”).

Despite the fluid nature of Federal and State mine permitting, Lahontan remains on track for breaking ground at the Santa Fe Mine Project in 2027.

.
Kimberly Ann, Lahontan Gold Corp. Chair, CEO, President, and Founder commented:

“The pace of activity at Santa Fe continues to accelerate:

 

“We are advancing permitting activities, making new gold and silver discoveries, while evaluating the economic potential of reprocessing the historic heap leach pads,
potentially producing very significant and low-cost recoverable ounces.

 

“Lahontan has completed 87 drill holes totaling 7,751 metres so far in 2026 with more to come.

 

“We remain on track to break ground in 2027:

 

“The Santa Fe Mine is a classic brownfields restart, leveraging existing infrastructure and technical knowledge allowing us to restart production at lower capital cost, on a shorter development timeline, and with a substantially lower execution risk than a comparable greenfield project, benefiting all stakeholders.”

.

——-

.

Lahontan Gold Corp. (TSX.V:LG)

Announced the first drill results from its 2026 drilling program at the Santa Fe Mine Project. 

Five RC drill holes, totalling 1,530 metres, have discovered a previously unrecognized zone of gold mineralization located west of the Slab open pit open in all directions.

.

Santa Fe Vista – Courtesy of Lahontan Gold Corp.

.

.

LAHONTAN DRILLS 91m GRADING 0.43 g/t Au OXIDE AT CALVADA, DISCOVERS
NEW GOLD ZONE AT SLAB WEST

.

Toronto Ontario, June 9, 2026 – Lahontan Gold Corp. (TSXV:LG, OTCQB:LGCXF, FSE:Y2F) (the “Company” or “Lahontan”) is pleased to announce the first drill results from its 2026 drilling program at the Santa Fe Mine Project.

The drill results reported herein cover four diamond core drill holes totalling 953 metres that were designed to acquire geotechnical data related to mine permitting that nonetheless intercepted significant gold mineralization.

Five additional reverse-circulation (“RC”) drill holes, totalling 1,530 metres, have discovered a previously unrecognized zone of gold mineralization located west of the
Slab open pit (“Slab West”) that remains open in all directions.

.

Significant results are summarized below:

• Calvada: Drill hole CAL26-02C, originally designed to gather geotechnical data for mine permitting, cut 90.8 metres (194.2 – 285.0 m) grading 0.44 g/t Au Eq oxide near the bottom and below the current resource pit shell*.

This includes a 12.3 metre interval (212.4 -223.7 m) of highgrade material: 1.22 g/t Au Eq. Please see maps, tables, and section.
• Slab West: Multiple drill holes have discovered a new, previously unrecognized zone of gold mineralization west of the Slab resource and open pit.

Gold minerlaization was intercepted in four out of five drill holes including 35.0 metres grading 0.34 g/t Au Eq (CAL26-03R; 164.6 – 199.6m) and 61.0 metres grading 0.26 g/t Au Eq (CAL26-01R; 184.4 – 245.4 m).

The Slab West discovery is unconstrained up and down dip plus along strike and has the potential to host significant new gold resoures at the Santa Fe Mine Project. 

.

Kimberly Ann, Founder, Chair, CEO, and President of Lahontan Gold Corp commented:

“The discovery of the gold zone at Slab West is an exciting development for the Santa Fe Mine Project.

 

“Since Lahontan acquired Santa Fe, all our drilling was focused on resource expansion and definition in order to demonstrate sufficient gold and silver resources to justify a production decision.

 

“The current RC drilling program is the first true exploration drilling we have done at Santa Fe and the results are already significant.

 

“The Slab West area has a large footprint, good grade, and continuity. Drilling crews are already following up on these
early results.

“The Geotechnical drilling program is a crucial part of the mine permitting process: Collecting samples of wall or waste rock for geochemical characterization and searching for evidence of ground water around and below the proposed open pits. 

,

“The program has been successful from a technical standpoint, no significant ground water was encountered, however, by carefully selecting the orientation of the drill holes, we can cut across known zones of gold mineralization and further validate the gold and silver resource at Santa Fe.

 

“The intercept at Calvada was particularly important as it confirmed thick oxide gold mineralization below the deepest part of the Calvada open pit and gives us further
confidence as we head towards mine construction in 2027. ”

.

——-

.

Mining Review 1st March 2026

Minerals 260 announced an investment of $220 million by Franco Nevada.

West Red Lake Gold Mines reported a high-grade gold intercept of 4.9 metres of 219.73 gpt gold.

.

Drill core sample – By permission of West Red Lake Gold Mines.

City Investors Circle Mining Review 1st March 2026

Minerals 260 announced an investment of $220 million by Franco Nevada.

West Red Lake Gold Mines reported a high-grade gold intercept of 4.9 metres of 219.73 gpt gold.

+++++++

News from our other tier 1 and 2 watchlist companies is pasted below, click on the link to be taken to the full story.Archives

  West Red Lake Gold Reported 219.73 g/t Au over 4.8m

  Lahontan Drilled High-Grade Oxide Gold From Surface at West Santa Fe

  Pacgold Reported High-Grade Gold in White Dam Drilling Results

  Lefroy Exploration Produces First Gold From the Lucky Strike Gold Mine

  Minerals 260 Announced a Franco-Nevada$220 million Funding

  Benz Mining Accelerates The Glenburgh Growth Story

  Mining Review 22nd February 2026

+++++++

Market Data

Weekly Price Changes

(US$ unless stated)

Click HERE for live Spot Metal Prices 

+++++++

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in some of the companies mentioned.

.

Lahontan Gold Corp. (TSX.V: LG)

Announced the final analytical results fromthe 2025 maiden drilling program at the Company’s satellite West Santa Fe project, located only 13 km from Lahontan’s flagship asset, the Santa Fe Mine project, in Nevada’s prolific Walker Lane.

.

Project vista – Courtesy of Lahontan Gold

.

.

LAHONTAN DRILLS HIGH GRADE OXIDE GOLD FROM THE SURFACE AT WEST
SANTA FE: 37m GRADING 3.11 g/t Au Eq INCLUDING 11m GRADING 5.75 g/t Au Eq

Toronto Ontario, February 24, 2026 – Lahontan Gold Corp. (TSX.V: LG, OTCQB:LGCXF, FSE:Y2F) (the “Company” or “Lahontan”) is pleased to announce the final analytical results from our 2025 maiden drilling program at the Company’s satellite West Santa Fe project, located only 13 km from Lahontan’s flagship asset, the Santa Fe Mine project, in Nevada’s prolific Walker Lane.

The assay results are from the final reverse-circulation rotary (“RC”) drill are summarized below:
• WSF25-04R: 36.6 metres (0.0 – 36.6m) grading 3.11 g/t Au Eq including 10.7 metres (1.5 – 12.2m) grading 5.75 g/t Au Eq from the surface, all oxide.

The drill hole emphasizes the high gold and silver grades associated with the South Zone at West Santa Fe.

– Also included in the intercept is a second high grade zone: 12.2m (22.9 – 35.1m) grading 3.67 g/t Au Eq.

– The grade and geometry of these intercepts correlate well with adjacent historic drill holes, further validating the historic drill hole database. Numbers may not total precisely due to rounding.

.
Kimberly Ann, Lahontan Executive Chair, President, CEO, and Founder commented:

“The robust assay results from WSF25-04R confirm the high-grade core of the South Zone as defined by historic drilling and underground mine workings.

 

“We are continuing to model the West Santa Fe system to better understand the geology and geometry of gold and silver mineralization. The geologic team is also fine-tuning a followup RC drilling campaign to commence in Spring.

 

“Previous field work, including geologic mapping, rockchip sampling, and airborne magnetic surveys, confirms that the hydrothermal system at West Santa Fe extends at least 1,000 metres east of the main zone of gold and silver mineralization defined by Lahontan and historic drilling (please Lahontan Gold press release dated June 18, 2024).

 

“This possible extension of the main mineralized zone, plus untested down-dip extensions of gold and silver mineralization, will be the key targets of the Spring drilling campaign.

 

“West Santa Fe continues to be an exciting new exploration target for the Company, one with excellent potential to add important shallow, oxide gold and silver resource ounces to Lahontan’s mineral resource ledger.”

.

+++++++

.

Lahontan Gold (TSX.V:LG)

Announced the first results from the 2025 Phase Two drilling program at the Company’s flagship Santa Fe Mine Project located in Nevada’s prolific Walker Lane. 

Lahontan has received analytical results for six reverse-circulation rotary (“RC”) drill holes totaling 994 metres.

.

.

.

LAHONTAN DRILLS THICK, SHALLOW GOLD: 114m GRADING 0.33 g/t Au Eq at
YORK; 23m GRADING 0.42 g/t Au Eq at SLAB

Toronto Ontario, January 13, 2026 – Lahontan Gold Corp. (TSX.V:LG, OTCQB:LGCXF) (the “Company” or “Lahontan”) is pleased to announce the first results from our 2025 Phase Two drilling program at the Company’s flagship Santa Fe Mine Project located in Nevada’s prolific Walker Lane.

Lahontan has received analytical results for six reverse-circulation rotary (“RC”) drill holes totaling 994 metres.

Significant results include:

• York: 114.3 metres (76.2 – 190.5m) grading 0.33 g/t Au Eq in YOR25-004R including 18.3 metres (172.2 – 190.5m) grading 0.90 g/t Au Eq: A shallow, thick, intercept of gold mineralization that expands the footprint of the York gold zone to the north of the current mineral resource pit shell*, leaving gold mineralization open and unconstrained to the north by modern drilling 
• Slab: 22.9 metres (19.8 – 42.7m) grading 0.42 g/t Au Eq in CAL25-009R: Very shallow oxide gold that may pull the Slab pit shell deeper in an updated Mineral Resource Estimate (“MRE”) expected later this year (please plan map for drill hole locations below).
• Slab: 29.0 metres (97.5 – 126.5m) grading 0.26 g/t Au Eq in CAL25-010R: Oxide gold
mineralization below the current mineral resource pit shell, an additional opportunity to potentially deepen the Slab conceptual pit shell and capture additional gold resources in the MRE update.

.
Kimberly Ann, Lahontan Executive Chair, President, CEO, and Founder commented:

“The Lahontan team is excited to receive the first analytical results from our Phase Two 2025 drill program at Santa Fe.

 

“The drill results at York reinforce our interpretation that the York deposit continues to the north of the previously defined MRE* and provides an excellent opportunity to further expand gold Mineral Resources at York.

 

“At Slab, the two drill holes targeting deeper extensions to known shallow oxide gold and silver mineralization were very successful; these drill results will be incorporated into an updated MRE for the entire Santa Fe Mine project, expected in the coming months.

 

“We will be receiving additional analytical results for seven drill holes at Santa Fe and six drill holes at our West Santa Fe project over the coming weeks, so please stay tuned for further press releases!”

.

——-

.

City Investors Circle Watchlists

We are making some additions to  to our watchlists in the exploration tier 4 stage, and deleting a couple of companies from our tier 2 watchlist.

.

.

City Investors Circle Watchlist Adjustments January 2026

.

City Investors Circle Watchlists

We are making some additions to  to our watchlists in the exploration tier 4 stage, and deleting a couple of companies from our tier 2 watchlist.

In

Fuerte Metals    (FMT.V)   Coffee Gold Project in the Yukon

Lahontan Gold  (LH.V)      Restarting the Santa Fe gold mine in Nevada.

Mogotes Metals (MOG.V   Filo Sur project abuts the Filo Del Sur copper project.

Out

Magnetic Resources   (ASX: MAU)

Minera Alamos     (MAI.V)

.

=======

121 Mining Conference London

London mining season kicked off with the 121 Mining Conference at Houndsditch this week.

Sadly the buzz that was evident at a recent presentation when gold was riding the crest of the wave seems to have evaporated, despite gold remaining above $4,000.

.

A typical scene from the meeting area at 121  Mining Conference in London

.

121 Mining Conference London – 2025

London mining season kicked off with the 121 mining conference at Houndsditch this week.

Sadly the buzz that was evident at a recent presentation when gold was riding the crest of the wave seems to have evaporated, despite gold remaining above $4,000.

This is despite gold remaining above $4,000, but below the heady $4,300 level. As a result producing gold and silver mining stock prices have been hit hard, blowing the exuberance away in the process.

I had some good meeting and do feel that stock prices are due another rise as long as gold holds around the current level or moves higher.

Of the companies that I met, Dolly Varden, Lahontan Gold, and Silver Storm caught my attention and merit further review.

I recently added Silver Storm to the Tier 2 watchlist of developing companies, due to its offtake deal with Samsung, low market cap, and imminent production in Q1 or Q2 2026.

Dolly Varden have a quality management team, and will publish a new Mineral Resource Estimate in Q1 2026. They are also looking for potential acquisitions.

Lahontan Gold is  a small cap early stage exploration play with a past producing open pit gold project, Santa Fe, located in the Walker Lane Trend in Nevada. Run by Kimberley Ann, who has enjoyed success in the past with a number of exploration companies.

Lahontan have other former producing open pit projects in the same trend, including Santa Fe West, and Moho. In addition there is a disseminated silver project.

——-

The show itself, as I mentioned earlier, lacked the buzz I was expecting, due to prices having fallen back quite sharply from their highs despite gold being within 7% of its all-time high.

I noticed a few economy measures, such as no servers for the food, and the food selection had moved somewhat downmarket from previous shows.

My main complaint was the lack of seating given the wide open spaces in the concourse area. Surely they can provide a few more tables for people to sit and eat on?

All in all a good show, and I expect to make a couple of additions to my portfolio as a result of the meetings that I had.

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Orla Mining.

.