LUCA DISCOVERS MULTIPLE NEW HIGH-GRADE ORE SHOOTS AT TAHUEHUETO MINE, DURANGO, MEXICO
LUCA DISCOVERS MULTIPLE NEW HIGH-GRADE ORE SHOOTS AT TAHUEHUETO MINE, DURANGO, MEXICO |
| [05-May-2025] |
VANCOUVER, BC, May 5, 2025 /PRNewswire/ - Luca Mining Corp. ("Luca" or the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is pleased to announce analytical results from the next nine (9) underground diamond drill holes of an ongoing 5,000 metre ("m") exploration drill program at the Tahuehueto gold-silver mine in Durango State, Mexico.
Drillhole DDH24-216 targeted a previously untested zone, approximately 60m below the active mine workings of Level 23, and intersected a new high-grade brecciated zone within the El Creston vein system that returned 9.4m of 0.48 g/t Au, 166.63 g/t Ag, 1.46% Cu, 2.00% Pb, and 0.71% Zn (5.21 g/t Au Eq) within a larger 13.9m zone of 0.43 g/t Au, 121.09 g/t Ag, 1.10% Cu, 1.40% Pb, and 0.51% Zn (3.90 g/t AuE Eq) from 124.6m. Drillhole DDH25-221 targeted the strike extension of the Creston FW Vein north of previously drilling, in an area approximately 65 horizontal metres from active mine workings of Level 12, and intersected a new high-grade brecciated zone within the El Creston vein system that returned 6.9m of 1.90 g/t Au, 68.40 g/t Ag, 0.19% Cu, 1.40% Pb, and 2.16% Zn (4.10 g/t AuEq) from 119.9m. Drillhole DDH25-222 was drilled into an undertested area of the Creston FW Vein north of current underground workings, in an area approximately 80 horizontal metres from active mine workings of Level 12, and intersected a new high-grade brecciated zone within the El Creston vein system that returned 4.8m of 3.15 g/t Au, 121.51 g/t Ag, 0.58% Cu, 0.27% Pb and 0.41% Zn (5.62 g/t AuEq) from 117.7m. Drillhole DDH25-224 was, similar to DDH25-222, drilled into an undertested area of the Creston FW Vein north of current underground workings, in an area approximately 120 horizontal metres from active mine workings of Level 12, and intersected a new high-grade brecciated zone within the El Creston vein system that returned 5.1m of 0.76 g/t Au, 88.19 g/t Ag, 0.42% Cu, 3.36% Pb and 6.85% Zn (5.62 g/t AuEq) from 134.4m, including 2.4m of 1.23 g/t Au, 111.51 g/t Ag, 0.71% Cu, 6.86% Pb and 11.80% Zn (9.37 g/t AuEq). Figure 1 presents the location of the drillholes and Tables 1 and 2 provide summary analytical results and drill collar details, respectively.
Twenty (20) holes have been completed to date for over 4,500m as part of the current Phase 1 exploration drilling campaign, which has a primary resource development objective to determine both vertical and lateral extents of known mineralization within the Creston and Perdido vein systems that are; a) proximal to current mine workings and b) interpreted to host un-tested extensions of the mineralized structures. Through these efforts, it is anticipated that mineable resources will be added into the near-term and medium term Tahuehueto Mine Plan. The majority of holes completed to date in this program have intersected new mineralized parts of the Creston and Perdido vein structures in areas of no previous historic drilling, further validating the continuous nature of these pervasive and mineralized veins. A key result is the discovery of a new, thick, high-grade breccia zone ore shoot in close proximity to the existing mine workings which demonstrates the high potential for additional new high-impact discoveries and the immediate and meaningful return on investment of this exploration drilling. Paul D. Gray, Luca VP Exploration, commented, "The discovery of multiple new high-grade ore shoots so quickly into this new exploration program confirms the robust nature of the Tahuehueto epithermal vein system and the potential to add immediate value to this asset. The fact that the current drilling program has consistently intersected well-mineralized veins in previously untested areas also confirms the Company's exploration approach and moreover speaks to the larger potential of the Tahuehueto mineralized system. In particular, the high-grade breccia zones intersected within holes DDH24-216 and DDH25-221 that represent new ore shoots, highlight the unrealized economic potential of the Creston Vein, and we look forward to additional results from the drillholes currently under analysis." With the success of the Phase 1 exploration campaign, a Phase 2 underground drilling program consisting of an additional 5,000m of drilling has been approved and has commenced. Phase 2 will target the extension of the Creston Vein System to the north and will be bolstered by surface drilling in and around the underexplored Santiago Deposit, located ~950m from the eastern extent of the existing Tahuehueto mine development. The Santiago Deposit (See Company News Release of April 26, 2022) offers significant expansion potential as historic drilling left it open along strike and to depth. Recent surface mapping at Santiago has identified the potential for thick, higher-grade breccia-type ore shoots within areas of the deposit with low drill density and along strike. Table 1: Highlighted Diamond Drill Assay Results from DDH24-216 through DDH25-224
Table 2: Drill Collar Locations and Details for Released Results
About 2025 Tahuehueto Exploration Program The Tahuehueto property comprises a large, epithermal gold-silver vein system comprising 11 kilometres of strike length of known veins and mineralized and structures. These campaigns represent the first substantive exploration drilling on the Property in over 12 years. Mineralization remains open along strike and at depth for most of the modeled Mineral Resource areas. The objective of the current campaigns will be a combination of in-fill and step-out drilling to demonstrate the vertical and lateral extent of mineralization as well as to target thick, high-grade mineralized breccia-type ore shoots known to exist within the epithermal vein system. Recent mining in Level 23 encountered higher grade mineralization averaging 3.30 g/t Au over vein widths up to 20 metres (with values up to 65.04 g/t Au) in ore shoots branching off the main Creston vein (See news release dated May 29, 2024). In addition to the four veins that comprise the mineral resource, there are at least 14 additional prospective veins documented within the concession area that have potential to host additional epithermal Au-Ag(-Cu-Zn-Pb) mineralization. In some cases, these prospective targets may represent extensions of the currently defined Mineral Resource. The Company estimates that there are more than 11 km of prospective vein structures (measured along strike), compared to the 4.5 km of mineralized veins that support the current Mineral Resource model. Figure 2 below shows the relative location of prospective veins (yellow) and veins modeled for resources and reserves (red) within the Company's concession area.
INTERACTIVE VRIFY 3D MODEL About Luca Mining Corp. The Campo Morado polymetallic VMS mine is an underground operation located in Guerrero State. It produces copper-zinc-lead concentrates with precious metals credits. It is currently undergoing an optimization program which is already generating significant improvements in recoveries, grades, efficiencies, and cashflows. The Tahuehueto Mine is a large property of over 75 square kilometres in Durango State. The project hosts epithermal gold and silver vein-style mineralization. Tahuehueto is a newly constructed underground mining operation producing primarily gold and silver. The Company has successfully commissioned its mill and is now in commercial production. Analytical Method and Quality Assurance/Quality Control Measures All drill core splits reported in this news release were analysed by Bureau Veritas of Durango, Mexico, utilizing the Multi-Acid digestion ICP-ES 35-element MA300 analytical package with FA-430 30-gram Fire Assay with AAS finish for gold on all samples. Au over-limits from FA-430 are re-analyzed by FA530 30-gram Fire Assay with Gravimetric finish. Ag over-limits from ICP MA300 analytical package are re-analyzed by FA530 30-gram Fire Assay with Gravimetric finish. Similarly, Cu, Pb and Zn over-limits from ICP MA300 analytical package are re-analyzed by ICP Multi-Acid digestion MA370 package. All core samples were split by core saw on-site at Luca's core processing facilities at the Tahuehueto Mine. Once split, half samples were placed back in the core boxes with the other half of split samples sealed in poly bags with one part of a three-part sample tag inserted within. Samples were collected by Bureau Veritas at the Tahuehueto Mine site and transported to Bureau Veritas' Durango Laboratory, where samples are prepared to a 250 gram pulp and analyzed for Gold by Fire assay with pulps shipped to Bureau Veritas's Analytical laboratory in Vancouver, B.C., for final ICP chemical analysis. A robust system of standards, 1/4 core duplicates and blanks was implemented in the 2024-2025 exploration drilling program and is monitored as chemical assay data become. Qualified Person On Behalf of the Board of Directors For more information, please visit: www.lucamining.com Cautionary Note Regarding Forward-Looking Statements Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities laws. Forward Looking Information includes, but is not limited to, disclosure regarding the Financings, the anticipated timing of closing thereof and the expected use of proceeds therefrom; and other possible events, conditions or financial performance that are based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company's properties, such as production rates and increases; success of exploration, development and bulk sample processing activities, and timing for processing at its own mineral processing facility on the Tahuehueto project site. In certain cases, Forward-Looking Information can be identified using words and phrases such as "plans," "expects," "scheduled," "estimates," "forecasts," "intends," "anticipates" or variations of such words and phrases. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that all requisite approvals in respect of the Financings will be received, and all conditions precedent to completion of the Financings will be satisfied, in a timely manner; the Company will be able to raise additional capital as necessary; the current exploration, development, environmental and other objectives concerning the Campo Morado Mine and the Tahuehueto Project can be achieved; the program to improve mining operations at Campo Morado will proceed as planned; the continuity of the price of gold and other metals, economic and political conditions, and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Luca Mining Corp. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company Codes: TorontoVE:LUCA, Frankfurt:Z68, OTC-PINK:LUCMF, OTC-BB:LUCMF, OTCQX:LUCMF |
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