LUCA COMMENCES EXPLORATION DRILLING AT TAHUEHUETO GOLD MINE
Luca Mining Corp. (TSXV: LUCA) has initiated an exploration drilling campaign at the Tahuehueto gold mine in Durango State, Mexico - the first major exploration in over 10 years. The campaign plans up to 5,000 metres of diamond core drilling across 26 holes over 4-6 months. Recent mining in Level 23 yielded high-grade mineralization averaging 3.30 g/t Au over vein widths up to 20 metres. The property contains 14 additional prospective veins beyond the four currently in the resource, with over 11 km of prospective vein structures compared to 4.5 km of currently modeled mineralized veins.
Luca Mining Corp. (TSXV: LUCA) ha avviato una campagna di perforazione esplorativa presso la miniera d'oro di Tahuehueto nello Stato di Durango, Messico - la prima grande esplorazione dopo oltre 10 anni. La campagna prevede fino a 5.000 metri di perforazione a nucleo diamantato distribuiti su 26 fori nell'arco di 4-6 mesi. Recenti attività minerarie nel Livello 23 hanno prodotto mineralizzazioni di alta qualità con una media di 3,30 g/t Au su larghezze di vena fino a 20 metri. La proprietà contiene 14 vene prospettiche aggiuntive oltre alle quattro attualmente modellate nel patrimonio, con oltre 11 km di strutture venose prospettiche rispetto ai 4,5 km di vene mineralizzate attualmente modellate.
Luca Mining Corp. (TSXV: LUCA) ha iniciado una campaña de perforación exploratoria en la mina de oro Tahuehueto en el estado de Durango, México - la primera gran exploración en más de 10 años. La campaña planea realizar hasta 5,000 metros de perforación de núcleo de diamante a través de 26 agujeros durante 4-6 meses. La reciente minería en el Nivel 23 arrojó mineralización de alta ley promediando 3.30 g/t Au en anchos de veta de hasta 20 metros. La propiedad contiene 14 vetas prospectivas adicionales más allá de las cuatro actualmente en el recurso, con más de 11 km de estructuras de veta prospectivas en comparación con 4.5 km de vetas mineralizadas actualmente modeladas.
루카 마이닝 주식회사 (TSXV: LUCA)는 멕시코 두랑고 주의 타우에후에토 금광에서 10년 이상 만에 첫 번째 대규모 탐사를 시작했습니다. 이 캠페인은 4~6개월 동안 26개의 구멍을 통해 최대 5,000미터의 다이아몬드 코어 드릴링을 계획하고 있습니다. 최근 23층에서의 채굴에서 최대 20미터의 광맥 너비를 가지는 3.30 g/t Au의 고등급 광물이 관찰되었습니다. 이 구역은 현재 자원에 포함된 네 개 외에도 14개의 추가적인 잠재 광맥을 포함하고 있으며, 현재 모델링된 광물화된 광맥의 4.5km과 비교할 때 11km 이상의 잠재 광맥 구조가 있습니다.
Luca Mining Corp. (TSXV: LUCA) a lancé une campagne de forage d'exploration à la mine d'or de Tahuehueto dans l'État de Durango, au Mexique - la première grande exploration depuis plus de 10 ans. La campagne prévoit jusqu'à 5 000 mètres de forage de carottes de diamant à travers 26 trous sur une période de 4 à 6 mois. Les récents travaux miniers au Niveau 23 ont donné une minéralisation de haute qualité avec une moyenne de 3,30 g/t Au sur des largeurs de veines allant jusqu'à 20 mètres. La propriété contient 14 veines prospectives supplémentaires au-delà des quatre actuellement dans la ressource, avec plus de 11 km de structures veineuses prospectives par rapport à 4,5 km de veines minéralisées actuellement modélisées.
Luca Mining Corp. (TSXV: LUCA) hat eine Explorationsbohrkampagne in der Goldmine Tahuehueto im Bundesstaat Durango, Mexiko, gestartet – die erste große Exploration seit über 10 Jahren. Die Kampagne plant bis zu 5.000 Meter Diamantkernbohrungen über 26 Löcher in einem Zeitraum von 4-6 Monaten. Jüngste Abbauarbeiten im Level 23 ergaben eine hochgradige Mineralisierung mit einem Durchschnitt von 3,30 g/t Au bei Ganggängen, die bis zu 20 Meter breit sind. Das Grundstück enthält 14 zusätzliche potenzielle Gangführungen neben den vier aktuell im Ressourcenvorrat, mit über 11 km potenzieller Gangstrukturen im Vergleich zu 4,5 km derzeit modellierter mineralisierter Gänge.
- First major exploration drilling program in 10 years at Tahuehueto
- Recent high-grade mineralization discovery of 3.30 g/t Au over 20m widths
- Significant expansion potential with 11 km of prospective vein structures
- Mine approaching commercial production phase
- No guarantee that prospective veins contain mineralized resources
- 4-6 month timeline for drilling completion indicates delayed results
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." <Listen to Dan provide details>
Mineralization is open along strike and at depth for most of the modeled resource area and the objective of the current campaign will be a combination of infill and step-out drilling to determine the vertical and lateral extent 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 Au over vein widths up to 20 metres (with values up to 65.04 g/t Au) in ore shoots branching off the main
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 to 4.5 km of mineralized veins that support current resource models. Figure 1 below shows the relative location of prospective veins (yellow) and veins modeled for resources and reserves (pink) within the Company's concession area (white).
Surface mapping has been 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.
About Luca Mining Corp.
Luca Mining (TSX-V: LUCA, OTCQX: LUCMF, Frankfurt: Z68) is a diversified Canadian mining company with two
The
The Tahuehueto gold, silver mine is a new underground operation in Durango State. which hosts numerous producing and historic mines along its trend. The Company is commissioning its mill and is expected to achieve commercial production by the end of the year.
On Behalf of the Board of Directors
(signed) "Dan Barnholden"
Dan Barnholden, Chief Executive Officer
For more information, please visit: www.lucamining.com
Qualified Persons
The technical information contained in this News Release has been reviewed and approved by Mr. Chris Richings, Vice-President Technical at Luca Mining as the Qualified Person for the Company as defined in National Instrument 43-101.
Cautionary Note Regarding Forward-Looking Statements
It should be noted that Luca declared commercial production at
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 timing of the upcoming drill program; timing of commissioning the mill at Tahuehueto and timing to achieve commercial production; 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. 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 the current exploration, development, environmental and other objectives concerning the Tahuehueto Project can be achieved; the geological mapping from mining activity at Tahuehueto Project will continue to provide information to guide exploration program plans; 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.
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SOURCE Luca Mining Corp.
FAQ
What is the size of Luca Mining's (LUCMF) new drilling campaign at Tahuehueto?
What were the recent gold grades discovered at Tahuehueto Level 23?
How many prospective veins has Luca Mining (LUCMF) identified at Tahuehueto?
What is the total length of prospective vein structures at Tahuehueto?
