Gold continues to be a profitable investment and a safe haven commodity and this junior miner just announced a term sheet to acquire an exploration project right near its existing asset in prolific Walker Lane. 

Lahontan Gold Corp (TSXV:LG) announced in a press release that it has signed a binding term sheet with a wholly-owned subsidiary of Emergent Metals Corp to acquire the advanced West Santa Fe gold-silver exploration project located only 15 km West of Lahontan's Flagship asset, the Santa Fe Mine, in Nevada's prolific Walker Lane. West Santa Fe hosts an oxidized gold-silver mineralized system in a geologic setting nearly identical to Santa Fe. 

Previous exploration drilling at the site totals over 13,000 metres in 171 drill holes; only five holes are deeper than 165 metres. Modeling of drill hole data by Lahontan geologists outlines a shallow gold and silver system with a sufficient volume to host 0.5 to 1.0M ounces of oxidized gold and silver mineralization in an open-pit mining configuration. Shares of the junior miner were trading up over 15 percent in afternoon trade.