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Luca Mining Corp - LUCMF STOCK NEWS

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Luca Mining Corp. (LUCMF) is a Canadian mining company with two 100%-owned producing mines in Mexico. The company recently completed successful metallurgical test work on the copper-lead separation process at Campo Morado. At Tahuehueto Gold Mine, Luca is close to completing the construction of a new mill with a capacity of 1,000 tpd, aiming to increase production to +800 tpd. The company is focused on ramping up both mines to their full potential, boosting cash flow, and expanding resources through exploration activities. Luca Mining emphasizes responsible and sustainable mining practices, ensuring transparency, accountability, and adherence to environmental and social standards.
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Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) has engaged Cominvi, S.A. de C.V. to conduct core mining operations at its Campo Morado copper-zinc-gold mine in Guerrero, Mexico. This partnership aims to increase production and provide cost-effective access to newer mining equipment. Luca plans to boost mill throughput from 1,400-1,600 tonnes per day (tpd) to 2,000 tpd by year-end, with a target of 2,400 tpd in 2025. The collaboration with Cominvi, a respected mining contractor in Latin America, is expected to enhance operational flexibility and help Campo Morado meet and exceed daily production targets without significant capital expenditures.

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Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) has announced a major exploration program for its Campo Morado and Tahuehueto projects in Mexico. The company plans to drill approximately 5,000 meters at each site during Q3 and Q4 of 2024, totaling 10,000 meters. Campo Morado, a large VMS polymetallic system, has over 30 untested targets within its 121 square kilometer area. Tahuehueto, a new gold mine nearing commercial production, has significant exploration potential with less than 10% of its 75 square kilometer concession explored.

The exploration aims to test high-potential targets, explore copper and gold potential at Campo Morado, and extend mineralization at Tahuehueto. CEO Dan Barnholden stated that successful exploration could be "game-changing" for Luca, potentially elevating the company's production to 200,000 oz Au Eq.

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Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) has completed construction of its 100% owned Tahuehueto gold mine in Durango State, Mexico. The mine features a 1,000 tonne per day processing capacity and is expected to reach commercial production by September 2024. Currently processing 450 tpd, the company aims to increase to 800 tpd for commercial run-rate levels.

Tahuehueto is part of a prolific mining region, with only 10% of its 121 square kilometer property explored. The company has installed a third filter press for dry stack tailings, enabling increased production and reduced environmental impact. Luca Mining is targeting annual production of 50,000 oz Au Eq* and plans to commence resource drilling from underground in the coming weeks to potentially increase the mine's resources.

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Luca Mining has appointed Dan Barnholden as the new CEO, effective July 15, 2024. Barnholden brings over 20 years of experience in senior mining investment banking roles. Additionally, Luca announced the issuance of 1,500,000 stock options to Barnholden, vesting in 25% increments from July 2024 to July 2025. Former interim CEO Ramon Perez will return to his role as President. Barnholden's extensive experience aims to enhance Luca's strategic initiatives and operational efficiency as the company transitions to a mid-tier diversified mining company. The options' exercise price will be based on the closing price of Luca's shares on July 12, 2024, with a five-year expiration.

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Luca Mining Corp anticipates consolidated production of 60,000 to 70,000 gold equivalent ounces (AuEq) for 2024 from its Campo Morado and Tahueheuto mines. Expected revenue ranges between $90 million and $105 million. Total Cash Costs (TCC) are projected between $1,200 and $1,335 per AuEq ounce, while All-in Sustaining Costs (AISC) are forecasted between $1,320 and $1,500 per AuEq ounce.

Key 2024 milestones include throughput expansion at both mines, commercial production declaration at Tahuehueto, and starting major exploration programs. Q1 2024 saw 14.1K AuEq ounces produced, with Campo Morado and Tahuehueto operating at 55-60% and 35-40% capacity, respectively. The new mill at Tahuehueto is 97% complete with anticipated production boosts in Q3 2024. Campo Morado aims to reach 2,000 tpd in Q3, up from 1,390 tpd in Q1. Luca is focused on increasing cash flow by adding a copper concentrate at Campo Morado.

Overall, Luca remains committed to sustainable mining practices and aims to leverage high-grade gold discoveries and production growth for an appealing investment opportunity.

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Luca Mining Corp. (LUCMF) announced robust financial results for Q1 2024, reporting a net income of C$7.3 million and net revenue of C$22.04 million, a 21% increase from Q4 2023.

The company produced 14,148 troy ounces of gold equivalent, including significant outputs of gold, silver, zinc, copper, and lead. Operating income reached C$4.8 million, with positive operating cash flow of C$4.04 million before working capital adjustments.

All-in sustaining costs (AISC) per gold equivalent ounce were US$1,549. Luca's two major projects, the Tahuehueto and Campo Morado mines, are progressing well, with production ramp-ups expected to decrease AISC and increase throughput. Both mines are expected to contribute positively to the company's growth and shareholder value.

The company is optimistic about maintaining this positive trajectory through the remainder of 2024, driven by rising metal prices and increased production at both mines.

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Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) has announced the discovery of high-grade gold zones with significant mining widths at its Tahuehueto Gold Mine in Durango, Mexico. This update follows a review by the British Columbia Securities Commission. The discovery was made through mining activities and channel sampling at Underground Level 23 of the mine, revealing mineralization in breccia ore shoots up to 20 meters wide. Assays show a range of grades, with maximum gold content at 65.04 g/t. The mine development at Level 23 has been ongoing since early 2022 and includes access development, dewatering, and initial stope mining. The mineralization features both gold-silver and base metal sulphide breccias. Further exploration is planned to evaluate the extension of these zones. Luca Mining operates two mines in Mexico and expects positive cash flows by 2024.

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Luca Mining has discovered new high-grade gold zones at the Tahuehueto Gold Mine in Durango, Mexico. These zones consist of breccia ore shoots up to 20 meters wide, with some assays showing more than 20 g/t gold. This discovery was made at Underground Level 23, where two mineralized splays intersect the Creston vein. The company aims to ramp up production to 1,000 tons per day (tpd) in the coming months. The block model from a pre-feasibility study shows the presence of significant mineralized widths, and recent drilling confirms this. The exploration area remains open at depth and along strike, offering further potential. Luca Mining operates two mines in Mexico and aims to generate positive cash flow in 2024.

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Luca Mining Corp. reports successful metallurgical test work on copper-lead separation process at Campo Morado, aiming to produce three high-value concentrates: copper, zinc, and lead. The results show improved grades of gold and silver in the copper concentrate, with potential for increased recovery rates. The Company is on track to deliver results in the second half of 2024, following positive test outcomes.

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Luca Mining Corp. reports strong Q4 2023 and annual financial results, with total production of 11,808 ounces of gold equivalent in Q4, significant contributions from Campo Morado and Tahuehueto, improved grades and recoveries, decreased costs, and positive outlook for 2024. Full-year 2023 production reached 55,719 ounces of gold equivalent, favorable operational metrics, and optimistic growth prospects for the company.

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FAQ

What is the current stock price of Luca Mining (LUCMF)?

The current stock price of Luca Mining (LUCMF) is $0.961 as of February 21, 2025.

What is the market cap of Luca Mining (LUCMF)?

The market cap of Luca Mining (LUCMF) is approximately 117.0M.

What recent achievement did Luca Mining Corp. announce regarding its Campo Morado mine?

Luca Mining completed successful metallurgical test work on the copper-lead separation process at Campo Morado.

What progress has Luca Mining Corp. made at the Tahuehueto Gold Mine?

The company is 97% complete in the construction of a new mill with a capacity of 1,000 tpd, aiming to increase production to +800 tpd.

How is Luca Mining Corp. planning to expand resources at the Tahuehueto Gold Mine?

Luca plans to start drilling in high-grade gold zones with significant mining widths at the Tahuehueto Gold Mine.

What is Luca Mining Corp.'s target production capacity at Campo Morado?

The company is ramping back up to 2,000 tpd at Campo Morado, having achieved an average throughput of approximately 1,390 tpd in Q1 2024.

What is Luca Mining Corp.'s focus apart from production growth?

In addition to production growth, Luca Mining is committed to integrating responsible and sustainable mining practices throughout its operations.
Luca Mining Corp

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169.25M
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