Lucky Minerals Inc V.LKY

Trench T-21 Assay 5.24 G/T Au Across 14M Including 10.75 G/T

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TRENCH T-21 ASSAYS 5.24 G/T GOLD ACROSS 14 METRES INCLUDING 10.75 G/T ACROSS 5 METRES

 

Vancouver, British Columbia, April 13, 2022 – Lucky Minerals Inc. (TSXV: LKY, OTC: LKMNF, FRA: LKY) (“Lucky” or the “Company”) is pleased to announce it has received assay results for trench T-21 from its ongoing work at the Wayka epithermal gold discovery at its 100% owned Fortuna Property (“Fortuna”) in southern Ecuador. 

Trench T-21 assays 5.24 g/t gold across 14 metres.
This new trench is located approximately 100 metres northwest of the combined trenches T-5 and T-6 where an average of 1.67 g/t gold was reported over 61 metres (please see November 9, 2021 News Release)

Trench T-21 is mineralized along east north-east trending lenses hosted in silicified shists with fine grained pyrite. Hydrothermal solutions appear to have penetrated preferentially along the rock foliation. 

Overall, field observations indicate that mineralization appears to be influenced by the intersection of NW, NE and EW trending faults and fractures. Lucky has retained the services of SRK Consulting (Toronto office) to complete a structural analysis of the mineralized structures at Wayka.   

Franois Perron, President and CEO of Lucky adds: “Our field work has exposed another structure of scale with T-21 reporting 14 metres of mineralization averaging more than 5 g/t gold. The fact that this structure is approximately 100 metres from where high-grade trenches T5-T6 are, highlights the potential for multiple mineralized structures relatively close to each other. Confirming multiple mineralized structures in close proximity to each other is important as it would enhance the potential for world class gold mineralization. The fact that relatively high grades were found in schist rocks rather than meta-granites is also intriguing. We are still in the early days of understanding the full potential at Wayka. The team is working on more trenches and preparation for drilling continues to advance apace.”


 

Table 1:

Trench T-21 gold assay results

Table 2: Trench T-21 average gold assay results across 5 metres (included in Table 1)

Trench T-21 location in respect to trenches T-5, T-6, T-14, T-20

Trench T-20 Assays 21.0 metres of anomalous gold
Trench T-20 was dug to intercept the continuity of a silicified lens outlined in T-6; a moderately silicified section was observed that measures 7 metres wide with 0.11 g/t gold.

Wayka - Next Steps
Work including drill hole targeting continues in preparation for the upcoming first 3,000 metres phase of drilling.

Targeting will be informed by the following:

a. Soils (completed);

b. Alteration mapping of Wayka project area (completed);

c. geophysics (completed, finalizing inversions);

d. trenches (ongoing);

e. Structural analysis of Wayka area (field work completed awaiting final report);

f. 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.

All rock 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. 

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 Franois Perron, President and CEO, by email at [e-mail] or by telephone at [phone].