Wedoany.com Report-Sept. 1, Luca Mining, a Canadian mining company, has acquired full ownership of the Humaya 3 mining concession in Durango, Mexico, from Minera Mexicana La Ciénega, a subsidiary of Fresnillo. This acquisition strengthens Luca’s presence in the region, expanding its land holdings by over 25% to approximately 10,000 hectares.

The Tahuehueto Mine spans 100km² in Durango, Mexico.

The Humaya 3 concession, covering 2,507 hectares, is located adjacent to Luca’s Tahuehueto Mine. The company secured the concession for a cash payment of $400,000 (C$550,000), with no net smelter return royalties attached. The strategic acquisition enhances Luca’s exploration and production capabilities in a mineral-rich area.

Dan Barnholden, CEO of Luca Mining, stated: “Acquiring this strategic mining concession, which directly surrounds our Tahuehueto Mine, aligns with our growth strategy as we add value to our assets. Luca will continue to demonstrate our ability to increase shareholder value through our commitment to exploration and discovery programmes.” The concession is expected to play a central role in the company’s near-term exploration plans at Tahuehueto.

The Tahuehueto Mine, spanning 100 square kilometers in Durango, began commercial production earlier this year. It features epithermal gold and silver vein-style mineralization. The addition of Humaya 3 significantly boosts the mine’s exploration potential. Paul D. Gray, Vice-President of Exploration, noted: “The Humaya 3 mining concession surrounds the Tahuehueto Mine and with this acquisition we have significantly increased both the size and exploration potential of our mineral tenure at Tahuehueto.”

Geological assessments indicate that known mineral veins, including the Santiago vein, extend onto the newly acquired concession. The Santiago vein, a key focus of Luca’s current surface drilling program, stretches northeast and southwest, presenting high-priority targets for exploration. This expansion is expected to enhance the mine’s resource base and support long-term growth.

The acquisition aligns with Luca Mining’s strategy to expand its operational footprint and maximize the value of its assets in Durango. By securing additional mineral-rich land, the company strengthens its ability to explore and develop new resources, contributing to economic growth in the region.

This move underscores Luca’s commitment to sustainable exploration and operational excellence. The expanded land holdings at Tahuehueto position the company to capitalize on the area’s geological potential, driving further discoveries and reinforcing its role in the mining sector. As exploration progresses, Luca aims to leverage advanced techniques to optimize resource identification and development.