Luca Mining Corp. (Ticker: LUCA.v or LUCMF for US investors) has announced the successful completion of construction for its new 100%-owned Tahuehueto gold mine in Durango State, Mexico. This milestone marks a significant achievement for the company as it transitions from pre-production to commercial production.
Tahuehueto Gold Mine Details
Tahuehueto is an underground operation with a nameplate processing capacity of 1,000 tonnes per day (tpd). The mine has been producing on a pre-production basis and is set to ramp up to commercial production levels by the end of September 2024.
The target commercial run-rate is approximately 800 tpd, translating to about 25,000 tonnes of ore per month. The property spans 121 square kilometers and hosts an extensive epithermal gold vein system, with exploration to date covering less than 10% of the area. This region is historically prolific, housing the San Dimas gold mine, which has produced over 11 million ounces of gold.
CEO's Statement
Dan Barnholden, CEO of Luca Mining, expressed his satisfaction with the progress at Tahuehueto, noting that current processing rates average 450 tpd with expectations to increase steadily. He emphasized the mine's potential to become a cornerstone asset for Luca, targeting at least 50,000 ounces of gold equivalent (Au Eq) annual production. Barnholden also highlighted recent discoveries of new high-grade gold zones and the upcoming exploration of these areas.
Technological Advancements
A notable enhancement at Tahuehueto is the installation of a third filter press, facilitating the use of dry stack tailings. This method offers several benefits over traditional tailings management, including reduced water usage, lower environmental risk, safer storage of tailings, and more efficient reclamation. This upgrade is crucial for achieving and potentially exceeding the commercial production target of 800 tpd.
Future Development and Exploration
Luca Mining is actively continuing its underground development efforts at Tahuehueto. Resource drilling from underground is set to begin in the coming weeks, focusing on newly identified zones with significant mining widths. This initiative aims to expand the resource base, strengthening the company's asset portfolio.
Overall, this update from LUCA underscores the company's successful expansion and its strategic focus on enhancing production capabilities while exploring new resources. The completion of the Tahuehueto gold mine marks a significant step forward, promising increased production and future growth.
https://lucamining.com/press-release/?qmodStoryID=6292244422164983
Posted on behalf of LUCA Mining Corp.