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Lucky Minerals Inc.
Lucky Minerals Inc.: Lucky Minerals Fortuna 3 Concession, Ecuador
Exploration Update - El Buitre Target
08-Jan-2019 / 20:08 GMT/BST
Lucky Minerals Fortuna 3 Concession, Ecuador Exploration Update - El Buitre
Target
Vancouver, BC, Jan. 08, 2019 -- *via NEWMEDIAWIRE -- *Lucky Minerals Inc.
(TSX.V: LKY) (OTCPK: LKMNF) (FRA: LKY) ("*Lucky*" or the "*Company*") is
pleased to announce further results of an on-going geological mapping survey
conducted on its Fortuna Project (the "*Project*") located approximately 60
km south-east of the Town of Cuenca, Ecuador.
48 assay results have been received from the November field survey. Assays
of less than 50 ppm up to 0.075% Cu (750 ppm), less than 50 ppm up to 0.03%
Mo (300 ppm) and 0.01 g/t Au up to 1.21 g/t Au have been reported. Anomalous
gold values from 0 of up to 130 ppb have been also reported in the breccias
within the Porphyry.
Surface prospecting undertaken in early December has located what management
believe is a mineralized Porphyry system that displays an ovoid shape being
1.3 km long with an estimated width of 1 km; approximately 90% of the
Porphyry signature has been mapped to date. This structure is trending
north-west and lies on the junction of two regional NNE and NW structures.
During this most recent campaign, B veinlets varying between 1mm to 3mm have
been widely observed in the Porphyry as well as major stockworks. The
widespread presence of B veins, including some cross-cutting D veins,
stockworks and numerous Mo showings indicate that we are on top of the
Porphyry system and getting closer to the core of mineralization. It should
be noted that no A veins have been encountered yet. Lucky's exploration team
believes that this current mapping program has identified a large-scale
Porphyry system that will be subjected to detailed and ongoing field
follow-up in the coming weeks. 50 mineralized samples from the above
referenced B veins have been sent for assaying; results are pending.
*QUALITY CONTROL*
Rock samples on the Project were assayed by ALS in Lima with preparation
performed in Quito. Samples were pulverized with 85% being under 75 microns
and assayed by XRF and ICP techniques for multi-elements (four acid
digestion) and major oxides. Gold was assayed using a 30g fire assay with AA
finish.
Exploration program design and interpretation of results is performed by a
Qualified person (QP) employing a Quality Assurance/Quality Control program
consistent with industry best practices including the use of standards at
every 20 samples.
*NEXT STEPS*
Starting early 2019, finalization of the current mapping program will be
undertaken along with an airborne geophysical survey. Improvement of the
existing dirt road and trails to an all-weather 14 km gravel road will be
undertaken upon social approval. Aggressive grid-style sampling will
continue on Fortuna 3 as well as regional prospecting on the 40 km major
regional NNE structure. Other major regional NNE trending structures
observed on the property will also be mapped and sampled.
This may be followed by a drilling program later in 2019. Fortuna 3 is one
of 12 contiguous concessions which make up the Fortuna Property. Virtually
no exploration has been done on these highly prospective concessions.
Considerable potential exists for finding significant porphyry and
epithermal Cu-Au mineralization throughout the Fortuna concessions.
"Lucky Minerals is very pleased by the results of this ongoing
reconnaissance exploration program and we will continue to characterize in
more details the identified porphyry system. We are excited to aggressively
explore and prospect other targets on Fortuna 3 as well as on the 11
remaining concessions," says CEO John Mears.
*About Lucky*
An exploration and development company targeting large-scale mineral systems
in proven districts with the potential to host world class deposits.
*The Fortuna Project*
Lucky Minerals holds a 100% interest in Fortuna, a 550 km2 property in the
heart of a proven and highly mineralized mineral district in Ecuador but
which has seen only limited exploration and has never been drilled.
Evidence of significant hydrothermal alteration, stockwork, breccias,
geochemical anomalies and placer mining supports potential for Cu/Au
porphyry systems and epithermal Au deposits similar to numerous
multi-million-ounce Au and bulk tonnage Cu deposits 40km away.
This press release has been prepared by Alain Moreau, P.Geo., VP-Exploration
at Lucky Minerals Inc., a "qualified person" as defined by NI 43-101
instrument. For further information, please consult Lucky's website or
contact: Tel: 866 924-6484, info@luckyminerals.com www.luckyminerals.com
[1].
*ON BEHALF OF THE BOARD*
*John Mears*
_Chief Executive Officer_
Further information regarding the Company can be found on SEDAR at
www.SEDAR.com [2].
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. This press
release may contain forward-looking statements that are subject to known and
unknown risks and uncertainties that could cause actual results to vary
materially from targeted results. Such risks and uncertainties include those
described in Lucky's periodic reports including the annual report or in the
filings made by Lucky from time to time with securities regulatory
authorities. We seek safe harbor.
Lucky Minerals
866 924-6484
info@luckyminerals.com
Dissemination of a CORPORATE NEWS, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
End of Announcement - EQS News Service
764435 08-Jan-2019
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(END) Dow Jones Newswires
January 08, 2019 15:07 ET (20:07 GMT)
