Cozamin
Located in the historic mining district of Zacatecas, Mexico, Cozamin is a premier underground copper-silver mine.
M&I Oz Gold
M&I Oz Silver
M&I Oz Au Eq
Resources, reserves and contained metal estimates based on Preliminary Economic Assessment dated March 31, 2018
Overview
Located in Zacatecas, Mexico
Luca has entered into an agreement to acquire 100% of the Cozamin Mine from Capstone Copper; the transaction is expected to close Q4 2026.
Location & Infrastructure
The El Barqueño Project is located approximately 100 km west of Guadalajara, near the municipality of Guachinango. The Project is accessible via paved and secondary roads connecting to both Guadalajara and Puerto Vallarta, which provide access to international airports and established labour pools. The region has a long history of mining and is home to several significant operations that are either in production or under development, including the Terronera Mine and the Los Ricos Project.
Historical Mineral Resource Estimate
(1) Converted to AuEq based on metal prices of $3,800/oz Au, $40.00/oz Ag and $4.80/lb Cu. (2) The historical resource estimate has an effective date of December 31, 2025, was prepared by Agnico Eagle, and was disclosed in Agnico Eagle’s February 12, 2026 news release, available at www.agnicoeagle.com under News Releases dated February 12, 2026.
Geology & Exploration
El Barqueño’s local geology consists of a shallow-dipping sequence of Cretaceous to Paleocene volcanic rocks, along with monzodiorite and diorite intrusives. The main style of mineralization is vein-breccia, characterized by sub-planar brecciated structures containing abundant fragments of quartz veins, with multi-stage crustiform quartz vein structures, stockwork breccias, and fault-vein mineralization also present. The sulphide assemblage includes pyrite, chalcopyrite, galena, sphalerite, and chalcocite.
Historic exploration at the property has been extensive, totaling approximately 300,000 metres of drilling, with Agnico Eagle completing roughly 225,000 metres between 2015 and 2018 following its acquisition of Cayden Resources and Soltoro Ltd. in 2014 and 2015. This work defined mineralized deposits across eight areas, grouped into Northern deposits (Azteca-Zapoteca-Cuauhtémoc, Angostura, Peña de Oro, and Socorro) and Southern deposits (El Rayo, Soledad, Bolas, and Highway).
The property is not currently permitted for exploration drilling due to the Jalisco Regional Ecological Territorial Planning Program (POETR); Luca is pursuing a legal pathway through an ongoing Amparo proceeding to resolve this and re-confirm the exploration and development pathway for the project.
Exploration
Exploration at Campo Morado is advancing through Luca’s three-year, US$25 million exploration program, representing the first district-wide exploration initiative undertaken at the project in more than a decade. The program combines surface and underground drilling with the integration of over 650,000 metres of historical drilling and geological data, leveraging modern targeting techniques, including AI-assisted interpretation, to identify new and expand known mineralized zones across the property.
Current exploration activities are focused on 38 priority targets generated through the integration of geological, geophysical, and geochemical datasets. Drilling is targeting both near-mine resource growth opportunities and broader district-scale discoveries across the largely underexplored Campo Morado land package. While the program is expected to support resource growth and mine-life extension, it is also designed to unlock the district’s significant exploration potential and identify new mineralized centres beyond the currently defined deposits. Recent drilling results continue to demonstrate the scale and prospectivity of the Campo Morado VMS system.
Recent Exploration Highlights
Reforma
- Drilling returned 37.2 metres grading 13.85 g/t AuEq, including 6.2 metres grading 43.77 g/t AuEq, confirming the presence of high-grade precious metal-rich mineralization within the system.
Largo Norte
- Multiple long intervals of continuous polymetallic VMS mineralization were intersected, including:
135.7 metres grading 1.58 g/t Au, 77.1 g/t Ag, 0.88% Cu, and 1.61% Zn
118.2 metres grading 2.53 g/t Au, 77.9 g/t Ag, 0.76% Cu, and 1.99% Zn
- These results extend the limits of a substantial mineralized body adjacent to existing mine workings.
El Rey
- Drilling returned 28.6 metres grading 5.35 g/t AuEq, including 2.8 metres grading 12.55 g/t AuEq, expanding the deposit beyond historical interpretations and highlighting additional growth potential.
