VANCOUVER, BC, Oct. 10,
2023 /CNW/ - Luca Mining Corp. ("Luca" or the
"Company" (TSX-V: LUCA; OTCQX: LUCMF; Frankfurt: Z68) is
pleased to announce the appointment of Mr. Chris Richings as Vice-President Technical for
Luca.
Chris has over 20 years of experience in underground and open
pit mining operations in North and South America. He is a
highly effective leader of large operational and technical
teams. Formerly Director of Technical Services for both the
Josemaria Project and the Candelaria operations (both Lundin Mining
projects); and previously held a series of management roles in mine
planning and operations within the Lundin Mining and Freeport companies. Chris is committed
to safe, sustainable, and responsible operations, and has
experience with multi-million-dollar technical studies and projects
from scoping to feasibility level, considering environmental
stewardship and permitting, including a tailings storage facility,
underground expansions, and greenfield open pit copper porphyry
projects.
Mike Struthers, CEO, commented:
"I'm delighted to welcome former colleague Chris Richings to the Luca team. As our
new Vice-President Technical, Chris will provide invaluable
leadership and direction in all technical disciplines at our mines
but will initially focus on improving processes and performance at
our Campo Morado Mine. Chris's engineering study experience will
also be invaluable as we examine opportunities to expand production
at our Tahuehueto Mine beyond our initial 1,000 tpd goal."
The Company announces that pursuant to its Omnibus Equity
Incentive Plan, it has granted incentive stock options to purchase
an aggregate 200,000 shares in the capital stock of the Company.
The options will be exercisable at a price of $0.35 per share for a period of 5 years.
About Luca Mining Corp
Luca Mining Corp. is a Canadian based mining company with two
100% owned Mexican gold, silver, and base metal mining
projects.
Luca's Tahuehueto Mine is an underground gold project in
northwestern Durango State, Mexico, located within the prolific Sierra
Madre Mineral Belt which hosts numerous producing and historic
mines along its trend. Tahuehueto is on track to become a
significant and one of Mexico's
newest gold mines to come into production. The
Pre-Feasibility Study updated in 2022 contemplates an operation
achieving 40,000 ounces gold-equivalent per year production.
Campo Morado, located in
Guerrero State, Mexico, is an
operating underground base and precious metals mine producing zinc
and copper concentrates with significant precious metals
credits.
Visit: www.lucamining.com
On Behalf of the Board of Directors
(signed) "Mike Struthers"
Mike Struthers, CEO and
Director
Cautionary Note Regarding Production Decisions and
Forward-Looking Statements
It should be noted that Luca declared commercial production at
Campo Morado prior to completing a
feasibility study of mineral reserves demonstrating economic and
technical viability. Accordingly, readers should be cautioned that
Luca's production decision has been made without a comprehensive
feasibility study of established reserves such that there is
greater risk and uncertainty as to future economic results from the
Campo Morado mine and a higher
technical risk of failure than would be the case if a feasibility
study were completed and relied upon to make a production decision.
Luca has completed a preliminary economic assessment ("PEA") mining
study on the Campo Morado mine
that provides a conceptual life of mine plan and a preliminary
economic analysis based on the previously identified mineral
resources (see News Release dated November
8, 2017, and April 4,2018).
Statements contained in this news release that are not
historical facts are "forward-looking information" or
"forward-looking statements" (collectively, "Forward-Looking
Information") within the meaning of applicable Canadian securities
laws. Forward Looking Information includes, but is not limited to,
disclosure regarding the planned recommencement of mining
operations at Campo Morado; and
other possible events, conditions or financial performance that are
based on assumptions about future economic conditions and courses
of action; the timing and costs of future activities on the
Company's properties, such as production rates and increases;
success of exploration, development and bulk sample processing
activities, and timing for processing at its own mineral processing
facility on the Tahuehueto project site. In certain cases,
Forward-Looking Information can be identified using words and
phrases such as "plans," "expects," "scheduled," "estimates,"
"forecasts," "intends," "anticipates" or variations of such words
and phrases. In preparing the Forward-Looking Information in this
news release, the Company has applied several material assumptions,
including, but not limited to, that the current exploration,
development, environmental and other objectives concerning the
Campo Morado Mine and the Tahuehueto Project can be achieved; that
recommencement of operations at Campo
Morado will proceed as planned; the continuity of the price
of gold and other metals, economic and political conditions, and
operations. Forward-Looking Information involves known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance, or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the Forward-Looking
Information. There can be no assurance that Forward-Looking
Information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
Forward-Looking Information. Except as required by law, the Company
does not assume any obligation to release publicly any revisions to
Forward-Looking Information contained in this news release to
reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE Luca Mining Corp.