Luca Mining drilling Tahuehueto gold mine, Mexico
Luca Mining Corp. [TSXV: LUCA; OTCQX: LUCMF; FSE: Z68] has started an exploration drilling campaign at the Tahuehueto gold mine in Durango state, Mexico. The Tahuehueto property comprises a large, epithermal gold/silver vein system, and this campaign is the first significant exploration drill program on the property in over 10 years. The company expects the current campaign to include up to 5,000 metres of diamond core drilling in 26 holes from underground over the next four to six months. The drill plan takes advantage of recently developed areas to potentially extend the resource along the modelled veins.
Dan Barnholden, CEO, commented: “Tahuehueto is a brand new mine which will soon be in commercial production. There are all the indicators of significant resource expansion potential at this project, and I am excited that our recently completed financing enables us to not only explore that potential but expeditiously. We have barely scratched the surface at Tahuehueto, and we are focused on unlocking all potential value for shareholders. Tahuehueto, and this new drill program, will provide ongoing drill results and steady material news flow for investors over the coming months and into the new year.”
Mineralization is open along strike and at depth for most of the modelled resource area, and the objective of the current campaign will be a combination of infill and stepout drilling to determine the vertical and lateral extents of mineralization, as well as to identify mineralized brecciated zones within the epithermal vein system. Recent mining in level 23 encountered higher-grade mineralization averaging 3.30 g/t gold over vein widths of up to 20 metres (with values up to 65.04 g/t gold) in ore shoots branching off the main Creston vein.
In addition to the four veins that make up the mineralized resource, there are at least 14 additional prospective veins or splays in the current concession area that show a potential to host low-sulphidation epithermal mineralization.
In some cases, the prospective veins and splays may be extensions or continuations of the currently defined resource. The company estimates that there are more than 11 km of prospective vein structures (measured along strike), compared with 4.5 km of mineralized veins that support current resource models.
Surface mapping was carried out by company geologists and outside consultants during different phases of the project to identify potential areas of epithermal mineralization. The prospective veins have not yet been systematically sampled or explored, and there is no guarantee that they host a mineralized resource.
Luca Mining has two 100%-owned producing mines within the prolific Sierra Madre mineralized belt in Mexico, which hosts numerous producing and historical mines along its trend. The company produces gold, copper, zinc, silver and lead from these mines, which each have considerable development and resource upside.
The Campo Morado 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 cash flow.
The Tahuehueto gold-silver mine is a new underground operation in Durango state. It hosts numerous producing and historical mines along its trend. The company is commissioning its mill and is expected to achieve commercial production by the end of the year.