#Canada #Vancouver #Campo Morado #Tahuehueto #Luca Mining Corp.

Luca Mining Corp. Q3 2026 Production Results

On October 13, 2026, Luca Mining Corp. released its production results for the third quarter ending September 30, 2026. The report highlights a notable increase in production, particularly at Campo Morado, where improved grades and metallurgical recoveries significantly boosted gold, silver, and zinc output.

Production Highlights

At Campo Morado, the company achieved impressive quarter-over-quarter production gains, driven by beneficial access to higher-grade stopes. The metallurgical recoveries improved due to a new strategy involving stockpiling and mill feed blending, along with adjustments to the reagent blend used in processing. In contrast, copper production experienced a decline due to lower feed grades. This dual performance showcases the varying conditions across Luca's operations.

In the Tahuehueto mine, operations faced challenges during the quarter. The company had temporarily reduced access to higher-grade stopes, which resulted in decreased feed grades of all metals. Despite slight improvements in metallurgical recoveries, the overall impact of the lower grades led to reduced production and sales volumes.

Financial Overview

By the end of the quarter, Luca Mining reported a cash balance of approximately $19.1 million, down from $24.7 million on June 30, 2026. This decline was largely due to lower sales volumes and diminished realized prices for gold and silver. Furthermore, the company incurred elevated costs related to corporate development, alongside continued investments in infrastructure and exploration across its operations. Additional costs were linked to strengthening the operational team in advance of the anticipated acquisition of the Cozamin Mine.

Metal Production Statistics

The production statistics for the three months ended September 30, 2026, are as follows:

Campo Morado

• - Gold: 1,930 oz
• - Silver: 259,124 oz
• - Lead: 1,044 k lbs
• - Zinc: 8,685 k lbs
• - Copper: 1,947 k lbs

Tahuehueto

• - Gold: 3,420 oz
• - Silver: 74,919 oz
• - Lead: 921 k lbs
• - Zinc: 1,665 k lbs
• - Copper: 384 k lbs

Consolidated Total

• - Gold: 5,351 oz
• - Silver: 334,043 oz
• - Lead: 1,964 k lbs
• - Zinc: 10,350 k lbs
• - Copper: 2,332 k lbs

Exploration Activities

During Q3, Luca Mining completed 12,100 meters of drilling, contributing to a total of approximately 33,700 meters of drilling for the first nine months of 2026. The exploration efforts remain focused on near-mine targets aimed at supporting resource growth, extending mine life, and enhancing production flexibility for operational assets.

CEO's Comments

Dan Barnholden, CEO of Luca Mining, commented on the quarter's performance:
“While production at Tahuehueto was affected by reduced access to higher-grade areas, we were pleased with Campo Morado's progress. The improvements in grades and recoveries reflect the effectiveness of our optimization strategies. Our aim now is to enhance underground development at Tahuehueto to better access valuable mining areas. Also, we are committed to continuing investments in operations and exploration for long-term growth.”

Notably, the company is looking forward to completing key acquisitions, such as the Cozamin Mine and the El Barqueño Project, which are expected to considerably enhance Luca's production capabilities and cash flow.

Future Directions

Overall, the Q3 2026 results paint a picture of mixed performance, with solid growth in Campo Morado contrasting with challenges at Tahuehueto. The company’s strategic focus on growth through acquisition and optimization positions it for potentially favorable developments in the upcoming quarters, emphasizing the ongoing commitment to capitalizing on its resource-rich assets in Mexico. Management remains optimistic about the company's trajectory as it navigates these challenges and opportunities in a dynamic market.