Major Exploration Program Plan Announced Today Today, LUCA Mining (LUCA.v LUCMF) announced a major exploration program, with plans for an drilling campaign at both Campo Morado and Tahuehueto.
A total of 10,000 meters will be drilled across both projects during Q3 and Q4 of 2024 with ~5,000m drilled at each project.
Campo Morado:
- Location: Guerrero, southwestern Mexico, within the Sierra Madre mineral belt.
- Features: A VMS polymetallic system with significant resources of copper, zinc, gold, and silver.
- Infrastructure: Operating mine, processing over 2,000 tonnes per day.
- Investment: Over $500 million invested to date.
- Drilling: First exploration since 2013, targeting four top targets within the permitted mining zone, leveraging historical data of over 580,800 meters of drilling.
- Potential: Multiple mineralization zones, similar to the nearby Tizapa Mine, which has been productive for 30 years.
Tahuehueto:
- Location: Durango, north-central Mexico, within the Sierra Madre mineral belt.
- Features: Epithermal gold/silver vein system with Pb-Zn-Cu rich breccias.
- Infrastructure: New gold mine, approaching commercial production with an average run rate of 800tpd and a mill capacity of 1,000 tpd.
- Drilling: Focus on step-out drilling to explore vertical and lateral mineralization with mineralization open along strike and at depth for most of the modeled resource areas.
- Potential: Significant exploration opportunities with less than 10% of the area explored, comparable to the Tayoltita mine of the San Dimas district.
Emphasizing the exploration potential at both projects, LUCA CEO, Dan Barnholden, commented:
"The exploration potential at Campo Morado and Tahuehueto is game changing. Both projects already have demonstrated strong cash flow potential and exploration success at one or both projects will take Luca into a new league. We intend to grow our company and are targeting no less than 200,000 oz Au Eq production and our development, exploration and expansion plans have the potential to get us there."
Highlighting the strategic exploration program, VP Technical Christopher Richings commented:
"For the first time in over 10 years, the Company has developed a strategic exploration program that will build our resource base at both sites, add value to our metal production profile and provide the foundation for exceptional new growth. We will be leveraging advanced geological understanding and a large amount of technical data to guide the upcoming campaign and drive success."
Full News Release:
https://lucamining.com/press-release/?qmodStoryID=8460980391758573 Posted on Behalf of Luca Mining Corp.