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Luca Mining hits high-grade gold and silver in Campo Morado drilling
A standout hole at the unmined Largo Norte zone cut about 184 metres of 1.18 grams gold per tonne, along with 72.4 grams silver, and supports a push to grow near-mine resources.
Luca Mining said new drilling at its Campo Morado polymetallic mine in Guerrero State, Mexico, points to potential near-mine resource growth and could help extend mine life. The company’s program targets unmined zones adjacent to existing underground infrastructure as it works to integrate additional mineralization into current operations.
The standout intercept, hole CMUG-26-50 in the unmined Largo Norte zone, returned about 184 metres of 1.18 grams gold per tonne, 72.42 grams silver, 0.39% copper, 0.45% lead and 1.67% zinc from 3.6 metres depth. Luca said the interval included 18 metres of 2.64 grams gold, 152.34 grams silver, 0.53% copper, 1.05% lead and 2.52% zinc from about 12 metres.
Luca is spending a combined $25 million on 80,000 metres of underground and surface drilling across Campo Morado and its other Mexican mine, Tahuehueto. Campo Morado is a producing underground operation with processing capacity of about 2,500 tonnes per day, and Luca said the current drill campaign is the first meaningful exploration program since 2014.
According to a National Bank mining analyst cited by Mining.com, results remain supportive of further resource growth at Campo Morado. Mining highlights also included hole CMNJ-26-02 in the unmined Naranjo zone, which cut 9.6 metres of 4.05 grams gold and 241.09 grams silver from 175.3 metres depth, as well as hole CMUG-26-46, which intersected about 91 metres of 0.99 grams gold from surface.
Latest closeGold $4,292.00 ▲1.1%|Silver $61.56 ▼0.9%|Copper $6.711 ▲0.1%