Lucky Minerals Inc. Identifies a Mineralized Showing Enriched in K-Feldspar and Hydrothermal Biotite on its Fortuna 3 Concession Project in Ecuador
Vancouver, BC November 20, 2018 Lucky Minerals Inc. (TSX.V: LKY) (OTCPK: LKMNF) (FRA: LKY) (“Lucky” or the “Company“) is pleased to announce the results of the follow-up geological reconnaissance mapping survey conducted on its Fortuna Project located approximately 60 km south-east of Town of Cuenca, Ecuador. Prospecting and mapping were undertaken based on its previous July mission in the Fortuna 3 concession where combined assays of up to 416 ppm Cu+Mo have been obtained.
Additional prospecting and mapping of Area A has identified an altered mineralized granite. Alteration is mainly K-feldspar and hydrothermal biotite with abundant sulphide mineralization. Rocks are intensively altered and fractured. Minerals typical of high temperature environments, such as silica and pyrophyllite, have been recognized in the area.
In addition, a mineralized hydrothermal breccia has been discovered with abundant pyrite. The breccia consists of porphyry clasts within an oxidized matrix. This breccia has a minimum length of 200m and a width of 50m.
Lucky’s exploration team believes that this current reconnaissance mapping is indicating a large-scale doughnut shape structure of at least 1,2 km in diameter. Presence of molybdenite and high Mo/Cu ratio suggests that we are in the top of the system.
Lucky’s immediate next steps in December are to advance exploration on the property and to continue to perform systematic sampling on its Fortuna 3 concession. 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.
“Lucky is very pleased by the results of this fall 2018 reconnaissance exploration program and we will continue to characterize in more details the identified porphyry systems. 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
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. We seek safe harbor.