VANCOUVER, BC / ACCESSWIRE / November 18, 2021 / Lucky Minerals Inc. (TSXV:LKY) (OTC PINK:LKMNF) (FSE: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”) in southern Ecuador.
Trench T-14 averages 8.02 g/t gold over 9 metres
Trench T-14 is oriented along a northwest axis and intercepts the same mineralized structure identified in the announcement on November 9th, where 6.68 g/t gold across 12 metres was reported.
This trench is to be extended to the southeast with the purpose of confirming the orientation of the third mineralized structure with an average 2.40 g/t gold across 7 metres (also released on November 9th)
Trench T-14 was stopped to the northwest before reaching the structure to the North as the ground was too deep for trenching to continue. A proposed trench T-15 will be excavated parallel to trench T-14 to confirm the orientation of the northern structure which sampled 0.46 g/t gold across 9 metres.
The structure identified in Trench T-14 averaged 8.02 g/t gold over 9 metres and mineralization is interpreted to be structurally controlled and hosted in silicified meta-granites. It strikes east northeast.
François Perron President and CEO states “The current trenching effort is in preparation for the upcoming drilling program and is focused on providing structural information about mineralized trends that have been exposed. We are finding mineralized trends that appear to be parallel. More information is required on these structures so that the drilling strategy can be adjusted based on this information in combination with the mag geophysics and soil sampling that is currently being done. Trench T-14 confirmed the orientation of one of these trends. Once we extend trench T-14 to the southeast we will have a better understanding of the orientation of the southernmost mineralized trend in trench T-6. In a similar fashion, trench T-15 will potentially confirm the orientation of the northern most structure. We are extremely excited to be targeting the start of our drilling program in the beginning of the new year.”
Fortuna – Next Steps
Exploration teams are focused on trenching, soil sampling and a mag geophysical survey. This work will be followed by a detailed compilation of all geologic data which will subsequently lead to scout drilling in the coming months.
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.
ON BEHALF OF THE BOARD
Chief Executive Officer
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
The company has put strict COVID protocols in place for all visitors, service providers and personnel arriving to and from field sites. All personnel are tested upon arriving and leaving and are again 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.
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.
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Cautionary Statement Regarding Adjacent Properties and Forward-Looking Information
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such factors include, but are not limited to: uncertainties related to exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labor relations matters. This list is not exhaustive of the factors that may affect the Company’s forward-looking information. Important factors that could cause actual results to differ materially from the Company’s expectations also include risks detailed from time to time in the filings made by the Company with securities regulators.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will not update or revise publicly any of the included forward-looking statements unless required by Canadian securities law.