Lucky Minerals Mobilization for Drilling Begins Lucky Minerals: Targeting of Trenched Discovery Zone Completed, Mobilization for Drilling Begins
VANCOUVER, BC / May 2, 2022 / Lucky Minerals Inc. (TSXV:LKY) (OTC PINK:LKMNF) (FRA:LKY) ("Lucky" or the "Company") is pleased to announce it has completed targeting for the upcoming drill program at the Wayka epithermal gold discovery at its 100% owned Fortuna Property ("Fortuna") in southern Ecuador.
After a detailed review of the recent high-grade trenching results including 5.24 g/t gold across 14 metres, 8.02 g/t gold over 9 metres, 1.67 g/t gold over 61 metres by company geologists and external consultants a drill hole program layout has been completed. This first phase of drilling will include 3,000 metres of HQ core targeted initially within the area of multiple sub-parallel stacked strongly silicified lenses known as the Discovery Zone (Area of trenches T-5, T-6, T-14, T-17, T-18, T-19 and T-21). Drill holes DDHW-01 to DDHW-4 will be drilled into this zone.
Highlights from the Discovery Zone:
Francois Perron, Lucky's CEO stated, "We are extremely pleased with our progress to date having only discovered the Wayka target last year in March 2021. Over the last 12 months the entire team in Ecuador has worked diligently to get the company to this current moment. It is very exciting to be drilling below the trenches where strong mineralization was sampled at surface. The main goal of the drilling program will be to extend these two-dimensional discoveries into the third dimension. We are hopeful that our understanding of the multiple mineralized structures that appear to be parallel and relatively close at surface will be improved."
The drill program is expected to begin in June. Drill holes DDHW-5 to DDHW-8 will be drilled based on the results of the initial drill hole results.
Drill holes DDHW-9 to DDHW-12 will be drilled into strongly silicified outcrops with alunite and pyrophyllite (known as the Wall Zone). See maps below of the drill hole layout.
The first 4 drill holes will be drilled into the area of multiple sub-parallel stacked strongly silicified lenses that were cut in trenches T-5, T-6, T-14, T-17, T-18 and T-19. See map below.
Map of drill hole layout at Wayka with trench locations in the Discovery and Wall Zones
Map of drill hole layout at Wayka with trench locations in the Discovery and Wall Zones (Alteration Map-left; Mag Map-right)
Current mineralization is interpreted to be controlled by pre-existing vertical faults. This will be tested as proposed drill holes will traverse several alteration zones.
Alteration Map showing interpreted potentially parallel stacked lenses in Discovery Zone
Wayka - Next Steps
- Mobilization for drilling campaign (underway)
- Drilling (June)
- Trenching (ongoing)
- Prospecting in other areas to increase understanding of overall Wayka area (ongoing)
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 submitted 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.
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 Franois Perron, President and CEO, by email at investors@luckyminerals.com or by telephone at (866) 924 6484.