VANCOUVER, BC / ACCESSWIRE / October 7, 2021 / Lucky Minerals Inc. (TSXV:LKY) (OTC PINK:LKMNF)(FRA: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. Work in the field is advancing on several fronts with work advancing on trench 14.
The current release reflects the results from trenches T-2, T-3, T-4, T-7, T-8, and T-9. All of these trenches are from the southern area of the Wayka prospect where trench T-1 results were previously announced (see July 12, 2021 News Release).
Trench T-2 confirms lateral extent of the breccia sampled along 27 meters averaging 1.91 g/t gold
Trench 2 was dug along the strike direction (275 degrees) of a breccia lens in order to confirm the orientation and continuity along the breccia and while sampling was systematic, more representative sampling of the system was sought out with trenches 3 and 4 as those are interpreted to crosscut the breccia structure.
Trench T-3 averages 0.32 g/t gold over 17m including 0.56 g/t gold over 9 meters
Trench T-3 intersected the east west breccia exposed in T-2 on a north south direction and confirmed a continuously mineralized interval of 0.32 g/t gold over 17 meters.
Trench T-4 averages 0.79 g/t gold over 7 meters
Trench T-4 is parallel to trench T-3 approximately 7 meters east of it.
Trench T-9 averages 0.59 g/t gold over 4 meters
Trench T-9 is located approximately 40 metres to the southwest of Trench T-2. This is the furthest point south that has been prospected and extends the system to the south and remains open.
Francois Perron President and CEO states “Work at the Southern portion of Wayka continues to expand the known occurrences of mineralization that exceeds 0.3 g/t gold. The potential for the scale of the system continues to expand as we find other areas that are mineralized that are further from the known feeders. In particular the newly exposed T-9 extends the project another 70 meters to the south and the system remains open in that direction. Our understanding of the mineralization is still in the early stages and will continue to improve over the coming weeks as more work is completed from surface. In addition to the current trenching, we have mobilized crews to complete a detailed soil sampling program which will be combined with geophysics to refine our targeting and drilling which is expected in the coming months.”
Fortuna – Next Steps
Exploration teams are focused on trenching soil sampling and 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.
Trench T-7 (2 meters)
No significant assays
Trench T-8 (2 meters)
No significant assays
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.
Renmark Financial Communications Inc.
In addition to the exploration update above, the Company is pleased to announce that it has entered into a retail investor relations agreement (the “Agreement“) with Renmark Financial Communications Inc. (“Renmark“), with respect to Renmark providing investor relations services to the Company. As part of the Agreement, Renmark will provide investor relations correspondence and telecommunications, and corporate development services to the Company. As consideration for the investor relations services to be provided by Renmark, the Company has agreed to pay to Renmark a fee of up to CAD$8,000 per month, plus reimbursement of all reasonable expenses.
The Agreement is for a 6-month period starting October 1, 2021 and ending March 31, 2022, and shall continue monthly thereafter, unless otherwise terminated pursuant to the terms of the Agreement, or extended by mutual agreement of the Company and Renmark. Renmark is a full-service investor relations firm representing small, medium and large cap public companies. Mr. Henri Perron, an officer of Renmark, who will be providing the services to the Company is the brother of Mr. François Perron, the President and Chief Executive Officer of the Company.
Renmark does not have any interest, directly or indirectly, in Lucky Minerals Inc. or its securities, or any right or intent to acquire such an interest.
The Agreement is subject to TSX Venture Exchange approval.
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
Lucky has strict rules in place for all workers arriving to and from field sites. All personnel are tested upon arriving and leaving and are tested every two weeks. All personnel are housed in separate and private accommodations and are isolated from the community.
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.
ON BEHALF OF THE BOARD
President and Chief Executive Officer
Or by contacting:
Renmark Financial Communications Inc.
Tel: (416) 644-2020 or (212) 812-7680
Neither the 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.
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.