Lucky Minerals Inc.(TSX-V:LKY)(OTC PINK:LKMNF)(FRA:LKY) (“Lucky” or the “Company“) is pleased to announce it has received Terraspec analysis results for the soil samples from its ongoing work at the Wayka high sulfidation epithermal gold discovery at its 100% owned Fortuna Property (“Fortuna”) in southern Ecuador.
A total of 1,027 soil samples were taken along a 50 x 50 metre grid at Wayka. The total grid area covered approximately 2.43 km2.
Alteration at surface now identified over a kilometric scale
Soil samples were submitted for Terraspec analysis. This work was done in order to complement the information from the alteration mapping of rock chip samples. It is important to note that outcrop availability is relatively low over the area.
The added information from the soil alteration mapping now confirms that the scale of the system at surface is approximately 2.4 km by 1.4 km at surface along a northeast trend. If we include the areas where only rock chip sampling was done, the scale expands to 3.2 km by 1.8 km which is also along a northeast trend.
Surface alteration mapping – Wayka
François Perron, CEO of Lucky Minerals comments, “Wayka’s alteration footprint at surface continues to expand and confirms the significant potential of the project. Our team of geologists is integrating all this information with the balance of the data that it has been gathering over the recent months. There are still a few pieces of information to integrate, and we expect target definition to be ready in the coming week or two. While the target areas are being defined by the geology team, work on logistics and socialization continues in order to start the drilling program.”
Wayka – Next Steps
Work including drill hole targeting continues in preparation for the upcoming first 3,000 m phase of drilling.
Targeting will be informed by the following:
- Soils (just completed);
- Alteration mapping of Wayka project area (just completed);
- Geophysics (just completed, finalizing inversions);
- Trenches (ongoing);
- Structural analysis of Wayka area (field work completed awaiting final report);
- Prospecting on anomalous areas.
Preparation work for mobilization of drilling equipment is underway.
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.
A total of 191 soil samples were submitted to ALS Chemex Labs in Quito for preparation work, and the analytical work was completed at their lab facility in Lima, Peru. ALS Chemex is an ISO certified and accredited laboratory. A total of 836 soil samples were submitted to Bureau Veritas Labs in Quito for preparation work, and the analytical work was completed at their lab facility in Lima, Peru. Bureau Veritas is an ISO certified and accredited laboratory.
Further analytical results will be released as they are received.
ON BEHALF OF THE BOARD
“Francois Perron”
Chief Executive Officer
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 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 following COVID protocols with permanent disinfection procedures in place and are following correspondent social distancing while being isolated from the surrounding communities.
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.
Further information on Lucky can be found on the Company’s website at www.luckyminerals.com and at www.sedar.com, or by contacting François Perron, President and CEO, by email at investors@luckyminerals.com or by telephone at (866) 924 6484.
Or by contacting:
Renmark Financial Communications Inc.
Kerry Schacter: kschacter@renmarkfinancial.com
Tel: (416) 644-2020 or (514) 939-3989
www.renmarkfinancial.com
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 to 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 not update or revise publicly any of the included forward-looking statements unless required by Canadian securities law.