Lucky Minerals Inc.(TSXV:LKY)(OTC PINK:LKMNF)(FSE:LKY) (‘Lucky‘ or the ‘Company‘) is pleased to announce it has received sample assay results from its ongoing work at the Wayka epithermal gold discovery at its 100% owned Fortuna Property (‘Fortuna’) in southern Ecuador. Systematic sampling has returned an average of 17.63 g/t over 3.0 meters with one sample returning 26.50 g/t gold. (See below for further detail).
Wayka lies along an elevated ridge that trends northeast with elevations ranging from approximately 3,600 meters to 3,700 meters above sea level. Recent mapping and sampling of two separate rhyolite altered outcrops has encountered continuous gold values.
Wayka -Systematic sampling across 7.0 meters identifies another potential feeder with 3.0 meters averaging 17.63 g/t gold
A rhyolite outcrop (Trench T-6) 700 meters north of the previously announced 4.0 meter trench (Trench T-1) which averaged 3.03 g/t gold (see News Release dated July 12, 2021), was sampled across 7.0 meters and returned an average of 8.08 g/t gold. With the last 3 samples (262957, 262959 & 262960) returning an average of 17.63 g/t gold across 3.0 meters and sample 262959 returning 26.50 g/t gold. See table below.
To view larger image of table below please click here.
Trench T-6 Rhyolite Outcrop Sampling
Samples 262957, 262959 and 262960 lie within a breccia ‘feeder’ zone. These samples are characterized by elongated stacked gray narrow (0.25 cm – 0.50 cm) quartz lenses partially broken up (brecciated), in a goethite-limonite silica matrix. See photo below.
To view larger image of photo below please click here.
Sample 262957 – 13.80 g/t Gold (Trench T-6) – Elongated stacked gray narrow (0.25 cm – 0.50 cm) quartz lenses partially broken up in a goethite-limonite silica matrix
Wayka – View looking south into Trench T-1, TrenchT-5 and Trench T-6. Trench T-5 sampling across 10.0 meters averages 0.38 g/t gold
To view larger image of photo above please click here.
The rhyolite outcrop to the north was sampled across 10.0 meters (1.0 m x 1.0 m panels) and returned an average of 0.38 g/t gold. See table below.
To view larger image of table below please click here.
Outcrop Sampling – Trench T-5
Wayka Gold Geochem and Alteration Map — High Grade Sample Locations
To view larger image of Geochem map above please click here
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Francois Perron President and CEO states ‘Geological work at Wayka continues thanks to the sustained efforts of the team. Our confirmation that the large advanced argillic zone previously defined has potentially economic grades of gold is very significant and exciting. These new trenches confirm the presence of mineralization more than 700 meters from our previous trench that averaged 4 meters at 3.03 g/t gold (see News Release – July 12, 2021). Our understanding of the mineralization is still in the early stages and will continue to improve over the coming weeks as more work is completed from surface which will be followed by drilling in the coming months.’
Fortuna – Next Steps
Wayka
Exploration teams are focused on geological mapping and the gathering of rock samples from outcrop to increase our understanding of the current zones and expand the known footprint of the mineralized system. This work will be followed by a detailed mag survey and compilation of all geologic data which will subsequently lead to scout drilling.
El Garo – Soil Sampling Continues
Field work continues at El Garo which is located less than 8 kilometers north of Wayka. El Garo is a large epithermal system with outcrops of dacite and vuggy silica. Due to a lack of outcrop, the soil sampling program initiated last year is now presently in the process of being completed. Results from this program will be combined with trenching followed by a detailed mag survey leading to a drilling program at El Garo.
Macuche – Geological Field Work Continues
Field work continues at Macuche mainly comprised of geological mapping and sampling. Also, old pit type excavations are being cleared of brush to expose the bedrock.
QA/QC Protocols
All exploration work is completed following QA/QC protocols and include the insertion of a coarse blank, a standard and duplicate sample on every batch of 25 samples.
Samples are being submitted approximately every two weeks to ALS Chemex Labs in Quito for preparation work, and the analytical work is completed at their lab facility in Lima, Peru. ALS Chemex is an ISO certified and accredited laboratory. Results will be released as they are received.
About Lucky
Lucky is an exploration and development company targeting large-scale mineral systems in proven districts with the potential to host world class deposits. Lucky owns a 100% interest in the Fortuna Property.
The Company’s Fortuna Project is comprised of twelve contiguous, 550 km2 (55,000 Hectares, or 136,000 Acres) exploration concessions. Fortuna is located in a highly prospective, yet underexplored, gold belt in southern Ecuador.
Covid-19 Safety Protocols
Lucky Minerals has strict rules in place for all workers arriving to and from field sites. All personnel are tested upon arriving and leaving and are tested every two weeks. All personnel are housed in separate and private accommodations and are isolated from the community.
Qualified Person
Victor Jaramillo, M.Sc.A., P.Geo., Lucky’s Exploration Manager and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Fortuna Project for Lucky Minerals and has reviewed and approved the technical information contained in this news release.
ON BEHALF OF THE BOARD
‘Francois Perron’
Chief Executive Officer
Further information on Lucky can be found on the Company’s website at www.luckyminerals.com and at www.sedar.com, or by contacting Francois Perron, President and CEO, by email at investors@luckyminerals.com or by telephone at (866) 924 6484.
Neither the 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.
Cautionary Statement Regarding Adjacent Properties and Forward-Looking Information
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipate’, ‘expects’ and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labor relations matters. This list is not exhaustive of the factors that may affect the Company’s forward-looking information. Important factors that could cause actual results to differ materially from the Company’s expectations also include risks detailed from time to time in the filings made by the Company with securities regulators.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.