Lucky Minerals Inc V.LKY

Soil Sampling Outlines Two Large Anomalous Gold Areas @Wayka

[yukon_gold]

March 15, 2022
 

SOIL SAMPLING OUTLINES TWO LARGE ANOMALOUS GOLD AREAS AT WAYKA

 
Vancouver, British Columbia, March 15, 2022 – Lucky Minerals Inc. (TSXV: LKY, OTC: LKMNF, FRA: LKY) (“Lucky” or the “Company”) is pleased to announce it has received soil sample Geochem results 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 meter grid at Wayka. The total grid area covered approximately 2.44 km². A total of 191 soil samples were assayed at ALS Chemex Labs and 836 soil samples were assayed at Bureau Veritas Labs. All Geochem results have been received and two large anomalous gold areas in the northern section of Wayka have been outlined.
 
Large area of anomalous gold identified
For gold in soils, a threshold value of 0.020 ppm was determined. Samples in the survey included values ranging from 0.001 up to 1.43 ppm gold. Approximately 37% of the samples were found to be anomalous covering an area of approximately 1.19 km².
 
Some trenches coincide with anomalous soil samples
 
Current trenching work has focused around three areas:
 
The areas including T5-T6 (reporting 61 meters at 1.67 g/t gold, please see press release November 9, 2021) and the area including T12 (reporting 10 meters of 1.21 g/t gold, please see press release October 25, 2021) were both in anomalous areas with values above the threshold but below 0.084 ppm gold. The area including trench T2 (reporting 27 meters of 1.91 g/t gold, please see press October 7, 2021) was not anomalous based on the soils sampled other than immediately where the trenches were dug.
 
Two new areas of anomalous gold identified
Anomalous area “A” (strongest anomalous gold area) measures approximately 700 x 400 meters and lies approximately 950 meters NE of trenches 5,6 and 14. Soil gold values in this area range from 0.035 up to 1.43 ppm gold.  Please see map below.
 
Anomalous area “B” measures approximately 425 x 300 meters and lies approximately 540 meters NNW of trenches 5,6 and 14. Soil gold values in this area range from 0.031 up to 0.19 ppm gold.   Please see map below.



Gold Soil Geochem Map of Wayka
 
Franois Perron, CEO of Lucky Minerals comments “The potential at Wayka continues to increase in scale. We are very excited at following up the mineralization identified in the trenches. At the same time, the systematic exploration work that the team is doing is providing for potential targets that will be considered in our drilling program. The scale of the system appears to be getting larger and I look forward to reporting on the balance of the team’s pre-drilling fieldwork as it is completed.”
 
Wayka - Next Steps
Field work, including targeting, continues in preparation for the upcoming first 3,000-meter phase of drilling.
 
Targeting will be informed by the following:

1. Soils (just completed);
2. Alteration mapping of Wayka project area (in compilation);
3. geophysics (just completed, finalizing inversions);
4. trenches (ongoing);
5. Structural analysis of Wayka area (ongoing);
6. 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
 
“Franois 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.
 
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 Francois Perron, President and CEO, by email at [e-mail], or by telephone at [phone].