Luca Mining Confirms New High-Grade Gold Zones with Significant Mining widths at the Tahuehueto Gold Mine
Level 23 Geology
The underground mine development at Tahuehueto has been advancing since early 2022 and most recently has included developing access, dewatering and mining the first stopes of Level 23, currently the lowest level in the mine. Two mineralized splays have been exposed on the hangingwall and footwall sides of the
The block model developed for the pre-feasibility study (refer to Technical Report Preliminary Feasibility Study, 2022) identified maximum vein widths in this area of 8.4m in the hangingwall and 6.5m in the footwall vein splays on Level 23 respectively. Actual vein widths are very comparable, with up to 4.9m in the footwall and 9.5m in the hangingwall, though detailed vein geometries vary. The footwall vein has been exposed 160 meters along strike and shows excellent continuity. Figure 2 shows production channel sampling of the southwest extent of the mineralized vein-breccia zone. Previous diamond drilling indicated that this area extends laterally 200 meters by 230 vertical meters, and the area remains open at depth and to the NE and SW. Based on the field mapping and ore control results, these targets will be included within an upcoming exploration program.
Channel Sampling
Where it is feasible and safe to do so, channel samples are taken in the back and face of excavations in mineralized zones across all lithologies approximately every 1.2 meters. Some areas may not be correctly sampled due to limitations in equipment and local ground conditions. Each sample weighs approximately 2.5 kgs and are sent to the mine laboratory for preparation and analysis by fire assay and atomic absorption methods.
Summary statistics of the channel sample assays from level 23 are included below:
Summary Statistics Channel Samples Level 23 |
|||||
|
Au |
Ag |
Cu |
Pb |
Zn |
|
g/t |
g/t |
% |
% |
% |
Max |
65.04 |
267.00 |
4.41 |
11.29 |
14.19 |
Min |
0.00 |
0.05 |
0.00 |
0.01 |
0.03 |
Average |
3.30 |
27.17 |
0.22 |
0.78 |
1.39 |
Count |
494 |
|
|
|
|
Control and duplicate samples are inserted with the regular samples and include blanks and standards. Control samples account for approximately 6% of the total number of samples analyzed. The QP has verified the data including site visits and analysis of the control sample data. The QP also notes that none of the samples have been verified by an outside laboratory and are indicative only.
Figures 3 and 4 show long-sections of the Lever 23 area and illustrate the block model interpretations of mineralisation on these structures, together with limits to the existing drilling.
About Luca Mining Corp.
Luca Mining (TSX-V: LUCA, OTCQX: LUCMF, Frankfurt: Z68) is a diversified Canadian mining company with two 100%-owned producing mines in
The
The Tahuehueto Gold,
The Company expects its operations to start generating positive cash flows in 2024. Luca Mining is focused on growth with the aim of maximizing shareholder returns.
For more information, please visit: www.lucamining.com
On Behalf of the Board of Directors
(signed) "Ramon Perez"
President and Interim CEO
Qualified Person
The technical information contained in this News Release has been reviewed and approved by Mr.
Cautionary Note Regarding Production Decisions and Forward-Looking Statements
It should be noted that Luca declared commercial production at
Positive operating cash flow is defined as excluding capital, debt repayment and Trafigura financing.
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 planned program to improve mining operations at
Neither
__________________________ |
1 Channel sampling of the mineralized zones is used for ore control purposes and assayed in the internal laboratory at site. Channel samples used for operational control are not sent to an outside laboratory for verification. In addition, ore control channel samples are not considered part of any exploration activities, nor are they used for updating resource estimates of the Tahuehueto mine. |
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