Luca Mining intersects 15.1 metres of 11.9 g/t AuEq at Campo Morado Reforma target, boosting gold-rich resource expansion plans

What are the latest drill results from Luca Mining’s Campo Morado exploration campaign at the Reforma deposit in Mexico?

Luca Mining Corp. (TSXV: LUCA, OTCQX: LUCMF, Frankfurt: Z68) reported promising analytical results on July 7, 2025, from its ongoing Phase One exploration program at the Campo Morado polymetallic VMS mine in Guerrero, Mexico. The Canadian mining company intersected 15.1 metres grading 11.9 g/t gold equivalent (AuEq) from its first surface drillhole at the Reforma deposit, highlighting the potential for high-grade gold-rich mineralization in underexplored zones of the mine complex.

These results form part of Luca Mining’s dual-phase 7,500-metre exploration campaign consisting of 5,000 metres of underground drilling and 2,500 metres of surface drilling. The surface drillhole CM-RF-25-001 was the first such hole at Reforma in over a decade, and it returned grades of 5.35 g/t gold, 188 g/t silver, 0.31% copper, 8.39% zinc, and 2.75% lead over 15.1 metres. Analysts view this as a key indicator of previously untapped precious metal potential at Campo Morado—especially in areas such as Reforma and El Rey that had historically been secondary to the zinc-rich G9 deposit.

How does the current drilling campaign compare with previous exploration activity at Campo Morado?

The current 2025 drilling effort represents the most substantial exploration campaign at Campo Morado since 2014. Luca Mining has completed 22 underground drillholes totaling 4,476 metres and five surface holes totaling approximately 1,350 metres. Historically, previous operators prioritized zinc output from the G9 deposit, leaving gold-rich zones such as Reforma and El Rey underdeveloped despite initial discovery and partial definition in the 1990s.

Institutional observers note that this marks a shift in Luca’s exploration strategy, leveraging high metal prices—particularly for gold and silver—to expand into multi-metal targets that were previously excluded from production planning. The company’s updated mine strategy now includes evaluation of both near-mine extensions and historically overlooked targets with potential for significant mineral resource additions.

What are the most significant assay results from underground drillholes near current production zones?

Several underground drillholes have revealed noteworthy high-grade mineralized intervals. Drillhole CMUG-25-015, for example, returned 4.5 metres grading 12.2 g/t AuEq from surface, nested within a broader 11 metres at 7.6 g/t AuEq. The mineral composition included up to 7.16% copper, 160.66 g/t silver, and nearly 2% zinc. Drillhole CMUG-25-016 intersected 30.8 metres grading 1.59 g/t AuEq from 104.5 metres depth, with solid base metal contributions.

Additional zones were identified in drillhole CMUG-25-018 at the Largo Zone, with intervals including 2.3 metres at 2.19 g/t AuEq and 6.4 metres at 2.49 g/t AuEq, reflecting persistent and multi-metallic mineralization near and between known production zones. Collectively, these results indicate considerable potential for resource growth near current mine infrastructure and support a re-evaluation of the near- and medium-term mine plan.

How might these findings influence future mine planning and resource estimates at Campo Morado?

According to Luca Mining’s strategic outlook, the recent drill intercepts will inform an updated mineral resource estimate and support the integration of new mineable zones into future operational planning. The company’s near-term goal is to convert underexplored zones adjacent to active production into defined mineral resources, while concurrently advancing the longer-term exploration of satellite deposits.

Institutional sentiment around the stock has responded favorably to this expansion approach, with expectations for resource growth amid favorable gold and silver pricing. Analysts anticipate that the successful confirmation of high-grade mineralization at Reforma and El Rey could drive revaluation of the Campo Morado asset, especially if follow-up drilling confirms scale and continuity.

What is the geological significance of the Reforma and El Rey deposits within the Campo Morado land package?

Campo Morado is situated within the highly prospective Sierra Madre del Sur mineralized belt and covers a land package exceeding 121 square kilometres. It hosts multiple volcanogenic massive sulphide (VMS) deposits rich in gold, silver, zinc, copper, and lead. The Reforma and El Rey targets were initially explored in the 1990s but were sidelined in favor of the higher-tonnage G9 zinc zone.

Luca Mining has identified 38 priority targets across the Campo Morado concessions based on historical geological, geochemical, and geophysical data. Reforma and El Rey stand out due to their precious metal endowment, and the 2025 surface drilling program marks the first substantive assessment of these zones in more than 14 years. Experts see the expansion into these gold-silver rich areas as a value catalyst, especially given prevailing metal prices.

How is Luca Mining applying modern exploration methods to reinterpret historical data at Campo Morado?

To support its exploration program, Luca Mining is reprocessing and integrating over 600,000 metres of historical drilling data, 30,000 geochemical soil samples, and multiple geophysical surveys. This includes gravity, magnetics, electromagnetics, and induced polarization studies. These datasets are being digitized and reanalyzed to guide drilling and target prioritization. The successful confirmation of mineralization at Reforma via surface drillhole CM-RF-25-001 validates the utility of this reinterpretation strategy.

Moreover, all assay work is conducted with rigorous quality control, including ICP multi-acid digestion for metals and fire assays for gold, supported by blanks, duplicates, and certified standards. The core is processed at Luca’s onsite facilities, and assays are performed by Bureau Veritas laboratories in Durango and Vancouver, ensuring analytical integrity for all reported results.

What is the near-term outlook for Luca Mining’s production and exploration strategy in Mexico?

Luca Mining’s current development strategy focuses on dual operations: Campo Morado in Guerrero and the newly commissioned Tahuehueto gold-silver mine in Durango. While Tahuehueto is already producing commercial volumes, Campo Morado remains a key multi-metal asset undergoing simultaneous production and resource growth through focused underground and surface drilling.

Analysts expect the ongoing 7,500-metre Phase 1 campaign to continue through the remainder of 2025, with additional surface drilling at Reforma and El Rey likely to provide critical data for metallurgical testing and mine plan optimization. The combination of elevated gold prices and successful assay results could drive accelerated resource updates, permitting evaluations, and production scheduling by early 2026.