Luca Mining reports high-grade gold and silver intercepts at Campo Morado in Mexico

With the gold market trading at historic highs, Luca Mining’s continued success at Campo Morado may represent a key growth driver in Mexico’s polymetallic mining sector.

Luca Mining (TSXV: LUCA) has unveiled high-grade drill results from its ongoing exploration at the Campo Morado mine in Guerrero, southwest Mexico. The standout intercepts came from the Reforma deposit, where one drillhole returned 15.1 metres grading 5.35 g/t gold, 187.5 g/t silver, 0.31% copper, 8.39% zinc, and 2.75% lead, boosting investor confidence and sending Luca shares up 9% to C$1.57 in Monday morning trading in Toronto.

The results come from hole CM-RF-25-001, which also intersected 21.5 metres grading 4.24 g/t gold, 158.5 g/t silver, 0.38% copper, 2.05% lead, and 6.24% zinc; as well as a particularly rich 7.1 metres grading 7.1 g/t gold, 238.2 g/t silver, 0.29% copper, 4.02% lead, and 9.55% zinc.

Campo Morado is a polymetallic underground operation located approximately 160 km southwest of Mexico City. The mine produced 175,334 tonnes of ore in the first quarter of 2025, yielding 7,677 ounces of gold. The ongoing drill campaign aims to unlock further value from the Reforma and El Rey deposits, located about 1 km northeast of the active G9 and El Largo production zones.

“Intersecting thick, high-grade, gold-rich massive sulphides in Luca’s first drillhole at the Reforma deposit clearly demonstrates how quickly the company’s exploration efforts can have a transformative impact on the mine,” said Paul Gray, vice-president of exploration at Luca Mining. “Luca is uniquely positioned to target Reforma and El Rey during record gold prices while continuing to build out the resources in the G9 deposit.”

The company is advancing a 5,000-metre drill program focused on near-mine resource expansion. So far, 22 underground holes have been completed, along with five surface holes at Reforma — the first such exploration in that zone since 2010.

Other highlights include hole CMUG-25-015, which returned 11 metres grading 0.32 g/t gold, 99.14 g/t silver, 4.2% copper, 0.19% lead, and 1.63% zinc from surface, and hole CMUG-25-016, which intercepted 30.8 metres grading 0.19 g/t gold, 22.45 g/t silver, 0.18% copper, 0.14% lead, and 2.34% zinc from 104.5 metres depth.

Campo Morado’s mineral inventory currently includes 16.6 million measured and indicated tonnes grading 1.7 g/t gold, 123 g/t silver, 0.8% copper, 0.93% lead, and 4.01% zinc — representing a total of 700,000 oz. gold, 62 million oz. silver, 200 million lb. copper, 300 million lb. lead, and 1.2 billion lb. zinc.