#Canada #Vancouver #Luca Mining #Campo Morado #VMS mineralization

Significant Discoveries by Luca Mining at Campo Morado

Luca Mining Corp., a prominent player in the mining industry, has made notable advancements in its exploration program at the Campo Morado polymetallic VMS (Volcanogenic Massive Sulphide) mine located in Guerrero State, Mexico. The company revealed its latest drilling results, which demonstrate high-grade mineralization in both surface and underground samples. This discovery not only confirms the quality of the existing resources but also underlines the potential for extensive expansion in mining operations.

Promising Drilling Results

In recent updates, Luca Mining announced remarkable findings from its Phase 2 exploration program. Surface drillhole CMRF25-15 reported an impressive duration of 55.8 meters with a grade of 5.90 g/t AuEq (Gold Equivalent), with inclusions showing even higher concentrations, such as 10.09 g/t AuEq over 7.7 meters. Another surface drillhole, CMRF25-13, reflected a notable intersection of 25.1 meters at 8.31 g/t AuEq. These results highlight the extensive mineralization present at the Reforma Deposit, one of the key focus areas for the company.

Additionally, the underground exploration has yielded valuable findings, with drillhole CMUG-25-25 revealing 4.0 meters at 1.04% copper, uncovering previously unmined zones close to existing operations. Such results not only affirm the rich deposits available but also indicate the feasibility of incorporating them into immediate mining plans, thus extending the operational lifespan of the Campo Morado mine.

Expansion of Exploration Program

To capitalize on the positive drilling outcomes, Luca Mining has intensified its exploration efforts. The company mobilized a second surface drilling rig to target high-priority VMS zones at Campo Morado. As of now, it has completed a total of 7,218 meters of surface drilling and 8,440 meters of underground drilling since the inception of the Phase 1 and Phase 2 expansion programs. The goal is to meet the anticipated demand for enhanced precious metal production and sustain resource development near operational sites.

Paul D. Gray, the VP of Exploration at Luca Mining, expressed optimism regarding the exploration results. He stated that the Reforma Deposit appears to host a more extensive and high-grade VMS system than was initially understood, offering promising potential for including these resources in near-term mining operations due to their proximity to existing infrastructure.

Economic Implications

The latest drilling results have significant economic implications, especially considering the surge in demand for precious metals globally. As gold and silver prices continue to experience upward trends, the economic viability of the mineralization at Campo Morado gains importance. The enrichment of gold and silver within the identified VMS mineralization underscores Luca's strategic position in the market and highlights potential growth opportunities as exploration efforts advance.

Looking Ahead

Luca Mining remains committed to further defining and expanding the known mineral resources at Campo Morado. With ambitious plans in place, the company aims to explore additional targets around the site, some of which have met with little to no prior drilling. The robust geological, geophysical, and geochemical datasets the company possesses will aid in systematically identifying and developing these new targets, potentially leading to significant discoveries over the coming months.

In conclusion, Luca Mining's recent drilling achievements at Campo Morado represent a pivotal moment in the company’s exploration strategy. By augmenting their existing operations with high-quality resources, they not only enhance their production capabilities but also contribute significantly to the narrative of mining growth in the region. The exploration journey at Campo Morado is set to continue, as Luca Mining eyes new opportunities for expansion and success in the burgeoning mineral market.