Within this newly explored area, a rock panel sample returned 4.15 grams per tonne gold from a siliceous volcanic breccia. This work has extended the alteration zone to the south by approximately 500 metres.
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I’m Cassandra Bolinski for Investmentpitch Media
Lucky Minerals has received sample assay results from its ongoing work at the Wayka epithermal gold discovery at its Fortuna Property in Southern Ecuador.
The 100% owned Fortuna property covers 550 square kilometres or approximately 55,000 hectares in a highly prospective, yet underexplored, gold belt in southern Ecuador.
Wayka lies along an elevated ridge that trends northeast with elevations ranging from approximately 3,600 metres to 3,700 metres above sea level and is bound to the East by the El Buitre Porphyry and to the West by the Emma Porphyry.
Lucky's exploration team has continued with geological mapping and sampling at Wayka, which will be followed by a detailed mag survey and trenching program which will subsequently lead to scout drilling.
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.
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 metres by 1,000 metres and remains open to the south.
Within this newly explored area, a rock panel sample returned 4.15 grams per tonne gold from a siliceous volcanic breccia. This work has extended the alteration zone to the south by approximately 500 metres.
To date the company has received a total of 51 assay results from ALS Chemex Labs for Wayka.
This table summarizes the Wayka chip samples above 0.02 grams per tonne gold.
Francois Perron, President and CEO, stated: “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. 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.”
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.
Field work also continues at Macuche (mah-koo-chay) mainly comprised of geological mapping and sampling, with old pit type excavations being cleared of brush to expose the bedrock.
A 20-metre long hand dug trench has been systematically sampled at 1 meter intervals with assays from 28 samples currently pending.
The shares are trading at $0.065.
For more information, please visit the company’s website, www.LuckyMinerals.com, contact Francois Perron, CEO, at 866-924-6484 or by email at investors@LuckyMinerals.com.
I’m Cassandra Bolinski for Investmentpitch Media
