VANCOUVER, BC, Dec. 12,
2024 /CNW/ - Luca Mining Corp. ("Luca" or
the "Company") (TSXV: LUCA) (OTCQX: LUCMF) (Frankfurt: Z68) is
pleased to announce that Mr. Ramon Mendoza
Reyes, P.Eng., has agreed to join Luca as Chief Technical
Officer ("CTO") to oversee, manage and execute the Company's
technical and growth initiatives.
Mr. Mendoza has a successful track of managing a variety of
projects in the Mexican mining sector and his expertise will ensure
Luca is successful delivering value from its ongoing optimization
and expansion efforts.
Mr. Dan Barnholden, CEO,
commented, "Luca is entering a new and exciting growth phase
which is enabling us to attract top talent from the mining industry
and we are delighted to welcome Mr. Mendoza to our team. His
exceptional expertise further enhances our senior leadership as we
continue to build a team capable of maximizing the potential of our
cash-flowing assets. With the right people and strategy in
place, we are well-positioned to execute our growth plans, which
include expanding our resource base, increasing production, and
achieving our cash flow and share price performance goals. We look
forward to working with Ramon as we drive this Company's growth
forward."
Ramon Mendoza Reyes, M.Sc.,
P.Eng.
Mr. Mendoza brings over 35 years of senior experience
in the mining industry with expertise in mine development, mine
process improvements, and a highly successful track record of
managing both underground and open-pit operations. He specializes
in advanced optimization techniques, integrating mine designs,
planning, cost modeling tools, and geo-sciences into the mine and
processing plans.
Prior to joining Luca, he worked as a mining consultant and
spent many years at First Majestic Silver Corp. where he was a
member of the senior leadership team focused on strategic
management and project implementation. In his prior roles, Mr.
Mendoza:
- Provided technical oversight of the mineral resource and
reserve estimation process, the geosciences group and the corporate
projects delivery group.
- Led technical due diligence for two mine acquisitions in three
years, doubling yearly metal output.
- Directed the exploration, mine design, and projects teams to
successfully explore, design, and develop the Ermitaño Mine
project, brought into operation in less than five years starting
from discovery.
- Guided the development of six major corporate projects for new
mine developments, improving processing plant operations, and
implementing cleaner energy generation and transmission
infrastructure.
- Ensured geology, mining, and metallurgy groups created a
cross-functional integrated team to support value creation for
operations and development projects.
- Developed a team that leads change and innovation for the
continuous improvement of the operations, ensuring integration of
optimized business plans.
- Managed the operation of five assets in Mexico with +4,000 direct employees.
- Successfully integrated the technical, operations, and business
support teams, exceeding the yearly production goal.
Mr. Mendoza commented, "I am very pleased to join Luca Mining
as their new CTO. Luca is on a strong growth track, and I look
forward to contributing to the experienced team. I am
confident that we will be able to deliver significant value from
the Tahuehueto and Campo Morado
mines going forward."
About Luca Mining Corp.
Luca Mining (TSX-V: LUCA,
OTCQX: LUCMF, Frankfurt: Z68) is a diversified Canadian mining
company with two 100%-owned producing mines within the prolific
Sierra Madre mineralized belt in
Mexico which hosts numerous
producing and historic mines along its trend. The Company produces
gold, copper, zinc, silver and lead from these mines that each have
considerable development and resource upside.
The Campo Morado mine, is an
underground operation located in Guerrero
State. It produces copper-zinc-lead concentrates with
precious metals credits. It is currently undergoing an optimization
program which is already generating significant improvements in
recoveries and grades, efficiencies, and cashflows.
The Tahuehueto Gold, Silver Mine is a new underground operation
in Durango State. which hosts numerous producing and historic mines
along its trend. The Company is commissioning its mill and is
expected to achieve commercial production by the end of the
year.
On Behalf of the Board of Directors
(signed) "Dan Barnholden"
Dan Barnholden, Chief Executive
Officer
For more information, please visit: www.lucamining.com
Cautionary Note Regarding 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 releases 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,
anticipated discovery of higher-grade mineralization and ability to
add to existing mine plans; 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. 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
Tahuehueto Project and Campo
Morado properties that can be achieved; the geological
mapping from mining activity at Tahuehueto Project and Campo Morado will continue to provide
information to guide exploration program plans; 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.
