VANCOUVER, B. C. / ACCESSWIRE / November 8, 2022 / Lucky Minerals Inc. (TSXV: LKY, OTC PINK: LKMNF, FRA: LKY) (“Lucky” or the “Company”) is pleased to announce that it is conducting geological mapping, trenching and groove sampling at Wayka’s epithermal gold discovery on its 55,000 hectares of wholly-owned Fortuna (“Fortuna”) assets in Ecuador.
Wayka lies along an upper ridge that extends to the northeast with elevations ranging from about 3,600 meters to 3,700 meters above sea level and is connected to the east through the porphyry of The Vulture and to the west through the Emma porphyry.
Interpretation of the upper sulphidation system component.
About 188 meters north of trench 14, samples were taken from a 5-meter-wide hydrothermal gap consisting of methagranite and shale fragments silicified in a silica matrix (trench 31). Analytical effects revealed gold (up to 0. 043 g/t Au). This trench was dug near the back of a partially eroded litholayer composed primarily of silica, which is exposed as a silicified ridge. See map and schematic cross section below.
François Perron, President and CEO, said: “The team is back to work at Wayka. We are very pleased to continue locating feeders with silicification in those spaces. Trench 31, while only showing abnormal gold values, confirms that we continue to locate the correct plumbing. The formula is mineralized, and we continue to locate more feeders as we head north from the initial discovery zone. As we approach the sterile lithocabo interpreted, we know that we are relatively high up in the formula and that this painting opens up the perspective of dominance under this anomalous top. “
The schematic cross section interpreted below shows the remaining silica policy in relation to the trenches and channels sampled (T-5, T-6, T-14, C-1, C-2, C-8 and T-31). Erosion mineralization in trench 14 yielded 8. 02 g/t gold in nine metres (press release of 18 November 2021) and in trench 21 yielded 5. 24 g/t gold in 14 metres (press release of 13 April 2022). Both trenches lie beneath the interpreted silica fairing, while channel 8 and trench 31 lie inside and at the base of the silica layer and have yielded anomalous gold values in most cases. while the highest grade trenches (trenches 14 and 21) are located at an altitude of about 3,624 m.
Schematic cross-section showing mineralised structures in relation to litocap
Lithocapes related to upper sulphidation epithermal systems are sometimes in the form of silicic rocks altered with pyrite, either in the form of stratoid replacements, veins and/or brechic cement. Silica caps are remnants of erosion from what were once large lithopacs and considered to be the upper sections of epithermal systems. Silica casings are most commonly sterile and/or anomalous of significant gold mineralization.
As geological box paintings continue at Wayka, we anticipate that our understanding of the mineralized formula will be completed as more detailed paintings are completed. At present, it has been observed that Wayka remains open in all directions.
Geological map of the Wayka Trench
Fortuna – Next steps
Wayka
Current fieldwork focuses on digging shallow trenches around the discovery domain. There are 35 scans waiting for a domain in the discovery zone and 7 scans for an NE zone in that zone.
Quality control/quality control protocols
All scanning paintings are made according to QA/QC protocols and include the insertion of a thick white, a popular pattern and a duplicate in a batch of 25 patterns.
Samples are sent to ALS Chemex Labs in Quito for paint preparation, and analytical paints are finished at their laboratory facility in Lima, Peru. ALS Chemex is an ISO accredited and qualified laboratory. The effects will be as received.
About Lucky
Lucky is an exploration and progression company that focuses on large-scale mining systems in showcased districts with the potential to host world-class deposits. Lucky owns a one hundred percent stake in the Fortuna property.
The company’s Fortuna allocation includes twelve contiguous exploration concessions of 550 km2 (55,000 hectares or 136,000 acres). Fortuna is located in a very promising, though little explored, gold belt in southern Ecuador.
Covid-19 safety protocols
Lucky Minerals has strict regulations for all staff arriving and departing the sites. All staff are assessed on arrival and departure and assessed every two weeks. All staff are accommodated in separate personal accommodations and are remote from the community.
Qualified person
Victor Jaramillo, M. A. Sc. , P. Geo. , Lucky Director of Exploration and National Instrument Qualified Person 43-101, is charged with overseeing the Fortuna Project exploration program for Lucky Minerals and has reviewed and approved the technical data contained in this press release.
ON BEHALF OF THE COUNCIL
“François Perron”President and CEO
More information about Lucky can be found on the company’s www. luckyminerals. com and www. sedar. com sites, or by contacting François Perron, President and Chief Executive Officer, by email at inverter@luckyminerals. com or by phone 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 TSX Venture Exchange nor its Regulation Service Provider (as that term is in TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note on Adjacent Properties and Forward-Looking Information
This press release includes forward-looking statements regarding the Company’s long-term operations and other statements that are not past facts. Forward-looking statements are referred to by words such as “will”, “may”, “should”, “anticipates”, “expects” and similar expressions. All statements, other than statements of forward-looking facts, included in this release, including, without limitation, statements regarding the Company’s long-term plans and objectives, are forward-looking statements that involve dangers and uncertainties. There can be no guarantee that such statements will translate into actual and accurate effects and long-term events may differ materially from those expected from such statements. These points come with, but are not limited to: uncertainties of exploration and progression; the ability to raise enough capital to fund exploration and progression; adjustments in economic or monetary market conditions; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to download files found in connection with exploration activities; and tough working relationships. This list is not exhaustive of items that are likely to have an effect on the Company’s forward-looking information. Important points that may cause actual effects to differ materially from the Company’s expectations also bear the pitfalls that are detailed from time to time in the Company’s filings with securities regulatory authorities.
The reader is cautioned that the assumptions used in the preparation of any forward-looking data may turn out to be incorrect. Events or cases are likely to cause actual effects to differ materially from those anticipated, as a result of known and unknown risks. uncertainties and other factors, many of which are beyond the company’s control. The reader is cautioned not to place undue reliance on forward-looking data. Such data, although considered moderate through control at the time of preparation, may turn out to be incorrect and the actual effects may differ materially from those anticipated. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release and the Company will not publicly update or revise any of the forward-looking statements included as expressly required through Canadian securities law.
SOURCE: Lucky Minerals Inc.