Luca Mining has initiated an exploration drilling campaign at the Tahuehueto gold mine in Durango State, Mexico.
Under the drilling campaign, Luca plans to undertake up to 5,000m of diamond core drilling in 26 holes from underground within the next four to six months.
The 7,492ha Tahuehueto property features a large, epithermal gold/silver vein system. It covers at least 12 mineralised zones hosted within a structurally controlled epithermal system that has been traced for more than 6km.
The current drilling campaign aims to leverage newly developed areas to potentially expand the resource along the projected veins.
It will focus on infill and step-out drilling to ascertain the vertical and lateral reach of mineralisation, as well as to discover mineralised brecciated zones within the vein system.
Luca Mining said its recent operations on Level 23 revealed high-grade mineralisation, with average gold concentrations of 3.30 grams per tonne (g/t) across vein widths reaching up to 20m, including peak values of 65.04g/t of gold in ore shoots branching from the main Creston vein.
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The property not only encompasses the four veins that constitute the mineralised resource but also includes at least 14 additional prospective veins or splays within the concession area.
These structures may represent extensions of the existing resource and are believed to have the potential to host low-sulphidation epithermal mineralisation.
Luca Mining CEO Dan Barnholden said: “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 programme, will provide ongoing drill results and steady material news flow for investors over the coming months and into the new year.”
Luca Mining has invested more than $30m (C$41.45m) in exploration, prefeasibility studies and mine development at Tahuehueto.
The property’s 1,000-tonnes-per-day processing plant is currently under construction, with targeted commercial production in 2024.
