Lucky Minerals Defines A Mineralized Porphyry System On Its Fortuna 3 Concession Project In Ecuador
VANCOUVER, British Columbia, Nov. 27, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Lucky Minerals Inc. (TSX.V: LKY) (OTCPK: LKMNF) (FRA: LKY) (“Lucky” or the « Company« ) announces the results of an on-going geological mapping survey conducted on its Fortuna Project located approximately 60 km south-east of Town of Cuenca, Ecuador.
Surface prospecting has defined a mineralized Porphyry system that displays an ovoid shape being 1.2 km long, with an estimated width of 800 metres. This structure is trending north-west and lies on the junction of two regional NNE and NW structures. Main lithologies are a porphyritic dacite surrounded by a coarse-grained granodiorite. The porphyritic dacite is of light green colour having 5% phenocrysts within a fine feldspar matrix. The granodiorite is of white-green colour containing 30% white quartz crystals, 45% potassic feldspar and 25% biotite. Both rocks exhibit strong hydrothermal alteration and mineralization (Pyrite, Chalcopyrite and Molybdenite).
In addition, two mineralized hydrothermal breccias were also mapped with abundant pyrite. The breccia consists in porphyritic clasts within an oxidized matrix. These breccias have, respectively, a minimum dimension of 400m by 50m, and 200m by 50m. Lucky’s exploration team believes that this current mapping programme has defined a large-scale Porphyry system that will subject to detailed mapping in the coming weeks. 50 mineralized samples have been sent rush for assaying.
Starting early 2019, an airborne geophysical survey will be undertaken. 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.
“Our Field teams have been doing an incredible amount of high quality effort to progress the Fortuna 3 concession. The initial indications are extremely positive and we couldn’t be more pleased. We will continue to move forward with aggressive sampling and mapping for the remainder of the year,” said CEO John Mears.
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 & 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, firstname.lastname@example.org www.luckyminerals.com
ON BEHALF OF THE BOARD
Chief Executive Officer
Further information regarding the Company can be found on SEDAR at www.SEDAR.com.
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.
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