Luca Mining (TSX-V:LUCA) has reported stronger gold, silver, and zinc production at Campo Morado in Guerrero, Mexico, while restricted access to higher-grade areas weighed on Tahuehueto’s September-quarter performance.
Combined production totalled 5,351 ounces of gold, 334,043 ounces of silver, 10.35 million pounds of zinc, and 2.332 million pounds of copper.
Campo Morado produced 1,930 ounces of gold and 259,124 ounces of silver. Access to higher-grade stopes, stockpiling and mill feed blending, and changes to reagents supported improved grades and recoveries. Copper output declined as feed grades fell.
At Tahuehueto, production reached 3,420 ounces of gold and 74,919 ounces of silver. Modest recovery improvements could not offset lower feed grades across all metals.
CEO Dan Barnholden says the company is seeing benefits from its processing changes at Campo Morado.
“We are beginning to see the benefits of our stockpiling and mill feed optimisation strategy at Campo Morado, which is improving feed consistency and supporting better recoveries ahead of the anticipated improvements from the Campo Morado Expansion,” Barnholden says.
“At Tahuehueto, our focus remains on improving underground development and access to higher-grade mining areas, while continuing to advance operational efficiencies.”
Cash declined approximately 23% during the quarter, reflecting lower sales volumes and realised precious metal prices, corporate development costs, and continued investment.
Luca completed approximately 12,100m of drilling, taking its nine-month total to 33,700m, focused on near-mine and resource expansion targets.
The update follows Goldgroup Mining’s (TSX-V:GORO) commitment to acquire a 19.9% stake through subscription receipts supporting Luca’s proposed Cozamin Mine acquisition.
Luca Mining is a Canadian polymetallic producer operating the Campo Morado Mine in Guerrero and Tahuehueto Mine in Durango, Mexico.
Write to France Pinzon at Mining.com.au
Main image: Luca Mining
