10:06 AM EDT, 08/27/2025 (MT Newswires) -- Luca Mining ( LUCMF ) was at last look down 2.5% early Wednesday as it provided analytical results from the next six surface drillholes at the Reforma Deposit and the next five underground drillholes of the 5,000 meter underground and 2,500 meter surface Phase One exploration drill program at the Campo Morado Polymetallic VMS mine in Guerrero State, Mexico.

Among highlights, the company said it has "begun to unlock the gold potential" at Campo Morado with "consistent high-grade gold intercept"s from both the Reforma Deposit and in areas immediately adjacent to underground operations.

It added surface drillhole CMRF25-07 intercepted 37.2m of 13.85 AuEq (5.87 g/t gold, 367.50 g/t silver, 0.53% copper, 5.54% zinc and 2.57% lead) including 6.2m of 43.77 g/t AuEq (20.81 g/t gold, 1,484.20 g/t silver, 0.82% copper, 5.98% zinc and 4.58% lead)

"The results from Luca's first drill programs at Campo Morado have exceeded expectations for both drill programs -- successfully advancing Luca's objective to demonstrate the high-grade gold exploration and growth potential of Campo Morado," said Paul D. Gray, Luca's vice president of exploration.

Gray added: "These wide, consistent, high-grade precious metals drill intercepts, with strong associated base metals, are beginning to demonstrate the exceptional gold and silver potential at Campo Morado, which was not a focus for previous operators of the mine.

"In addition, current Reforma drilling has returned core recoveries which far exceed those achieved in historical drilling programs, an important improvement that is expected to inform a more accurate representation of the Deposit."

The company said that based on the strength of the results from surface drilling to date a Phase 2 program has been planned and is anticipated to begin shortly.

Shares of the company were last seen down $0.04 at $1.59 on the TSX Venture Exchange.

Price: 1.59, Change: -0.04, Percent Change: -2.45