Production & Exploration Updates @ Tahuehueto & Campo Morado Gold producer LUCA Mining Corp (ticker: LUCA.v or LUCMF for US investors), led by President and CEO Ramon Perez, has been making significant strides in its operations at the Tahuehueto and Campo Morado mines in Mexico.
Yesterday, an interview with Perez on the KE Report provided insights into the production progress and exploration developments that highlight LUCA’s commitment to enhancing its mining capabilities and shareholder returns.
Tahuehueto Gold Project: Ramping Up Production and New Discoveries
The Tahuehueto Project is on track to reach a production milestone of 1,000 tons per day by mid to late June 2024. Currently processing between 500-600 tons per day, the mine is awaiting the finalization of electrical setups for a newly installed third filter press. This key component is expected to propel the mine into commercial production by the third quarter of this year.
A notable development at Tahuehueto is the discovery of high-grade gold mineralization over extensive widths at Underground Level 23, which is part of the main Creston vein structure. This discovery includes breccia ore shoots up to 20 meters wide, with some channel samples revealing gold concentrations exceeding 20 grams per tonne (g/t Au). These findings are crucial for LUCA’s strategy to increase production and enhance shareholder returns.
The geological mapping and channel sampling at Level 23 have identified significant mineralization, with vein widths comparable to those highlighted in the pre-feasibility study. The continuity of the footwall splay, extending along a 160-meter strike, and the lateral extension of 200 meters by 230 vertical meters, underscore the potential for further resource expansion. This area remains open at depth and to the northeast and southwest, with ongoing exploration targeting these extensions.
Campo Morado Mine: Enhanced Recoveries and Economic Impact
At LUCA's Campo Morado mine, the company has achieved significant improvements in copper recovery rates through recent metallurgical testing. The recovery rates have jumped from 40% to 70%, representing a substantial enhancement in the mine's economics. With a relatively modest capital expenditure of $2.5 million, these improvements are poised to positively impact production data and overall mine profitability.
Ongoing Exploration and Future Outlook
LUCA Mining continues its exploration activities with promising results. The recent identification of a new high-grade gold zone at Tahuehueto exemplifies the potential for further discoveries that can drive production growth. Perez emphasized that these exploration plans will run in tandem with production increases, ensuring a balanced approach to development and resource expansion.
The company’s production outlook for 2024 is robust, with an expected yield of 60,000-70,000 ounces of Gold Equivalent (AuEq) from its two mines. This projection underscores LUCA’s strategic focus on ramping up production while simultaneously exploring new opportunities to enhance its resource base.
Full interview here: https://www.kereport.com/2024/05/23/luca-mining-production-development-and-exploration-updates-at-the-campo-morado-and-tahuehueto-mines/
Posted on behalf of LUCA Mining Corp.