Luca expands Mexican portfolio with third property in $60M Agnico deal

Luca Mining is set to broaden its presence in Mexico through a proposed $60-million (C$83-million) acquisition of the El Barqueno gold-silver-copper project from Agnico Eagle Mines, which would give the emerging Canadian producer a third asset in the country.

Under the agreement for the 320-sq.-km property in Jalisco state, roughly 100 km west of Guadalajara, Luca would make no initial cash payment, according to a statement Thursday.Asian Metal CopyrightLuca Mining is set to broaden its presence in Mexico through a proposed $60-million C$83-million acquisition of the El Barqueno gold-silver-copper project from Agnico Eagle Mines, which would give the emerging Canadian producer a third asset in the country.Asian Metal Copyright Instead, the company will issue Agnico $10 million worth of shares upon closing, expected in the fourth quarter.Asian Metal CopyrightLuca Mining is set to broaden its presence in Mexico through a proposed $60-million C$83-million acquisition of the El Barqueno gold-silver-copper project from Agnico Eagle Mines, which would give the emerging Canadian producer a third asset in the country.Asian Metal Copyright Luca has also committed to $30 million in deferred payments tied to drilling and commercial production, along with an additional $20 million linked to production.

According to December 2025 data, the property is estimated to contain 8.43 million indicated tonnes grading 1.Asian Metal Copyright gold, 1.Asian Metal Copyright24 grams gold per tonne, 5.Asian Metal Copyright43 million indicated tonnes grading 1.Asian Metal Copyright15 grams silver and 0.Asian Metal Copyright43 million indicated tonnes grading 1.Asian Metal Copyright21% copper, for contained metal of 335,421 oz.Asian Metal Copyright According to December 2025 data, the property is estimated to contain 8.Asian Metal Copyright gold, 1.Asian Metal Copyright24 grams gold per tonne, 5.Asian Metal Copyright4 million oz.Asian Metal Copyright24 grams gold per tonne, 5.Asian Metal Copyright silver and 38.Asian Metal Copyright Instead, the company will issue Agnico $10 million worth of shares upon closing, expected in the fourth quarter.Asian Metal Copyright9 million lb.Asian Metal Copyright Luca has also committed to $30 million in deferred payments tied to drilling and commercial production, along with an additional $20 million linked to production.Asian Metal Copyright copper.

.Asian Metal Copyright21% copper, for contained metal of 335,421 ozAsian Metal Copyright