Impressive Drill Results Propel Small-Cap Miner Near 52-Week High

Sponsored:

Monday, July 7, 2025

As the price of gold hovers near all-time highs, a dual-listed small-cap miner reported impressive assay results, further boosting bullish sentiment as the stock trades just a whisker below its 52-week high.

Shares of Luca Mining Corp. (TSX-Venture: LUCA) (OTCQX: LUCMF) are on a tear today as the company announced this morning strong assay results from its ongoing Phase One exploration drilling at the Campo Morado polymetallic VMS mine in Guerrero State, Mexico. Highlights included surface drillhole CM-RF-25-001 at the Reforma Deposit intercepting 15.1 meters of 11.9 g/t gold equivalent (5.35 g/t gold, 187.5 g/t silver, 0.31% copper, 8.39% zinc, and 2.75% lead). 

Underground drillhole CMUG-25-015 returned 4.5 meters grading 12.2 g/t gold equivalent within a broader 11 meters at 7.6 g/t gold equivalent. The company has now completed 22 underground holes of a planned 5,000 meter program aimed at near-mine resource expansion, marking the first major exploration at Campo Morado since 2014.

The program also includes surface drilling at Reforma and El Rey, with five holes completed at Reforma thus far—the first exploration there since 2010. Results confirm the presence of high-grade mineralization and will guide future exploration targeting untested gold-rich zones north of the high-grade G9 deposit and other producing areas on the property. Underground holes CMUG-25-14 through CMUG-25-16 targeted gaps near the SW Zone and returned encouraging intervals, including 30.81 meters at 1.59 g/t gold equivalent. 

Paul D. Gray, Luca’s VP of Exploration, commented, "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 and also our ability to realize the untapped metal endowment of Campo Morado . The gold-rich Reforma and El Rey Deposits were discovered and partially defined in the 1990's but were never incorporated into the Campo Morado mine plan after the zinc-rich G9 Deposit became the primary focus of previous operators. Luca is uniquely positioned to target these gold-rich deposits during record gold prices while continuing to build out the resources in the G9 Deposit. Underground drill results continue to impress with the discovery of additional mineralized zones with each batch of assays."

Shares of LUCA are currently up 7.64% at $1.55, while U.S. listed shares (LUCMF) are trading up 9.83% at $1.134 in early-afternoon trading.

Sponsored: