UBS Strategists Predict Gold Will Reach $2,600 Per Ounce Trading near record levels despite a slight retreat from recent highs, analysts expect gold prices to continue to strengthen further over the next 12 months with momentum sustained by a renewed weakness in the US dollar and retreating US Treasury yields.
Significantly, UBS strategists predict gold will reach $2,600 per ounce by year-end, fueled by stronger Chinese demand and a series of soft US data in April. (Source:
https://www.cnbc.com/amp/2024/05/28/gold-silver-copper-rally-has-just-taken-a-breather-new-highs-not-far-off-.html)
Deemed the 'Rising Star of Mexican Mining', LUCA Mining (LUCA.v LUCMF) recently confirmed a new high-grade gold zone with significant mining widths at its Tahuehueto Gold Mine in Durango, Mexico!
The mineralization occurs in shoots branching off the main Creston vein, one of the main two structures currently being mined, at Underground Level 23.
Notably, new geological mapping and channel sampling at this level confirmed the presence of breccia ore shoots up to 20m wide with internally assayed channel samples returning greater than 20g/t Au.
LUCA's Interim CEO, Ramon Perez, commented:
"Our geology team at Tahuehueto are doing excellent work. They are progressively adding to our understanding of the mineralisation and confirming the enormous upside potential of the mine. These wide and higher-grade mineralised zones at depth, where two vein splays intersect, were identified in earlier drilling. With the added detail from mapping and channel sampling we see the excellent potential in multiple areas. These wider, high-grade zones will be part of our plan to ramp-up to 1,000 tpd, a milestone we expect to achieve in the next few months. I look forward to providing more updates as our work here unfolds."
Tahuehueto Overview Spanning 7,492 hectares and boasting 24k M&I ounces of gold, 9.5M M&I ounces of silver and 535k M&I ounces of AuEq, Tahuehueto covers at least 12 mineralized zones honested within a structurally controlled epithermal system that has been traced for more than 6km.
As LUCA's flagship asset, over $30M has been invested into the project between exploration, prefeasibility study and mine development.
With a goal of commencing commercial production in 2024, Tahuehueto's 100tpd processing plant is currently under construction
Amid continued development at both its Tahuehueto Project and the Campo Moado Mine where successful metallurgical testwork yielded promising results and validated LUCA's aim to produce three distinct valuable concentrates, LUCA has a strong path ahead.
Full News Release:
https://lucamining.com/press-release/?qmodStoryID=6953874401172091 Posted on Behalf of Luca Mining Corp.