LUCA: Drilling, Ramp-Up & New Production at Two 100% Mines Luca Mining Corp. (Ticker: LUCA.v or LUCMF for US investors) has launched a major 5,000-meter expansion drilling campaign at its Tahuehueto gold-silver mine in Durango, Mexico—the first major exploration push here in over a decade.
As a result they have expectations that with minimal exploration they will be able to significantly increase the resource estimate.
Simultaneously, With gold prices at all time highs, Luca is also ramping up production 60% at their Campo Morado Mine and commencing commercial production at Tahuehueto.
They are projecting ~70K Oz AuEq of production for 2024 and over 100K in 2025.
Simultaneous Production and Expansion
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Tahuehueto Mine: Currently commissioning its mill with the goal of reaching commercial production by year-end, focusing on gold, silver, and copper output.
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Campo Morado Mine: Located in Guerrero, this site is boosting production of copper-zinc-lead concentrates and benefiting from optimization improvements that enhance recoveries, grades, and cash flow.
Expansion Drill Program at Tahuehueto
Backed by new financing, Luca’s 5,000-meter drill program at Tahuehueto aims to expand resources across the mine’s extensive 11 km epithermal vein system, covering both infill and stepout zones. Key elements include:
Luca’s ongoing resource expansion and production ramp-up are well timed with macro gold prices and are all strategically coinciding in Q4 and should reflect significant value creation from their $116M mcap in the short term.
More: https://lucamining.com/press-release/?qmodStoryID=8651577782385332
Posted on behalf of Luca Mining Corp.