LUCKY MINERALS EXTENDS WAYKA ALTERATION ZONE 500 METERS TO THE SOUTH AND SAMPLES UP TO 4.15 g/t GOLD
Vancouver, British Columbia, June 17, 2021 – Lucky Minerals Inc. (TSXV:LKY, OTC:LKMNF, FRA: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”). Fortuna comprises approximately 55,000 hectares in a known mineralized zone in southern Ecuador.
Wayka lies along an elevated ridge that trends northeast with elevations ranging from approximately 3,600 meters to 3,700 meters above sea level and is bound to the East by the El Buitre Porphyry and to the West by the Emma Porphyry.
Wayka - An Advanced Argillic Alteration Zone - Expanding and Remains Open
One of the key exploration tools when exploring a high sulfidation epithermal system is the identification of the higher temperature alteration minerals (generally identified as advanced argillic alteration zones). These advanced argillic alteration zones are usually comprised of mineralized breccias, areas of vuggy silica and feeder zones that carry gold mineralization.
Lucky’s exploration team has continued with geological mapping and sampling at Wayka. Terraspec analyses of rock samples taken from the southern zone of Wayka has outlined an area of advanced argillic alteration with outcrops of vuggy silica that measures approximately 800 meters by 1,000 meters and remains open to the south.
Within this newly explored area, a rock panel sample returned 4.15 g/t gold from a siliceous volcanic breccia. This work has extended the alteration zone to the south by approximately 500 meters. Please see the updated alteration and gold geochem map below.
To view a larger image of the geochem map please click here.
Wayka Gold Geochem and Alteration Map
To date we have received a total of 51 assay results from ALS Chemex Labs for Wayka. The table below includes 29 chip panel samples not previously released with gold above 0.020 g/t.
To view a larger image of the table below please click here.
Wayka Chip Panel Samples Above 0.020 g/t Gold
A total of 83 rock samples have recently been submitted for Terraspec analyses to determine the type of alteration minerals associated within this mineralized system. We expect these pending lab results to assist in identifying potential feeder zones.
As the geological work at Wayka continues, we anticipate our understanding of the mineralized system to improve as more detailed work is completed. At present, Wayka has been observed to remain open in all directions.
Francois Perron President and CEO states “We are extremely pleased with the results being returned from our work in the field. Not only have we found the highest gold grade in a surface sample to date at Wayka, but we have also demonstrated the scale of the high temperature alteration to be of kilometric size. We look forward to continuing to narrow in our focus on the underlying feeder zones.”
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 trenching program 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. A 20 meter long hand dug trench has been systematically sampled at 1 meter intervals. Thus far 28 samples have assays pending from Macuche.
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.
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.