12:57 PM EST, 01/12/2026 (MT Newswires) -- Luca Mining ( LUCMF ) , up 11% on last look, on Monday confirmed high-grade mineralization from its Phase 2 exploration programs at the Campo Morado polymetallic mine in Mexico.

Drilling at the Reforma deposit and in areas immediately adjacent to active underground workings at Campo Morado continued to define wide, high-grade, gold-rich VMS mineralization, the company said.

Highlights include surface drillhole 25-15, which returned 55.8 meters of 5.90 grams per tonne (g/t) gold equivalent including 7.7 meters of 10.09 g/t gold equivalent.

Another drillhole, 25-13, intersected 25.1 meters of 8.31 g/t gold equivalent, including 4.9 m of 11.32 g/t gold equivalent.

Gold- and silver-enriched VMS mineralization have shown to be higher grade and more extensive than historically modeled, a statement added.

"These results confirm that Reforma hosts a larger and more gold-rich VMS system than previously understood, with grades and widths that compare favorably to historical drilling," said Paul Gray, who heads exploration.

"Importantly, this mineralization is located close to existing underground infrastructure, which enhances its potential to be incorporated into near-term mine plans. Based on the strength and consistency of these intercepts, Luca has expanded drilling at Reforma and mobilized a second surface rig to accelerate testing of additional high-priority targets across the Campo Morado camp."

Luca Mining ( LUCMF ) shares were last seen up $0.16, to $1.60, on the TSX Venture Exchange.

Price: 1.60, Change: +0.16, Percent Change: +11.11