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Lucky Minerals Inc
Symbol C : LKY
Shares Issued 90,452,395
Close 2018-11-19 C$ 0.14
Recent Sedar Documents

Lucky Minerals outlines K-feldspar showing at Fortuna 3

2018-11-20 09:02 ET - News Release

Mr. Steve Cozine reports

LUCKY MINERALS INC. IDENTIFIES A MINERALIZED SHOWING ENRICHED IN K-FELDSPAR AND HYDROTHERMAL BIOTITE ON ITS FORTUNA 3 CONCESSION PROJECT IN ECUADOR

Lucky Minerals Inc. has provided results of the follow-up geological reconnaissance mapping survey conducted on its Fortuna project located approximately 60 kilometres southeast 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 parts per million copper plus molybdenum have been obtained.

Additional prospecting and mapping of Area A have 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 200 m and a width of 50 m.

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 the company is in the top of the system.

Next steps

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-kilometre 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 north-northeast structure. Other major regional north-northeast-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 chief executive officer John Mears.

About Lucky Minerals Inc.

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-per-cent interest in Fortuna, a 550 square km 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 and breccias, geochemical anomalies and placer mining supports potential for Cu/Au porphyry systems and epithermal Au deposits similar to numerous multimillion-ounce Au and bulk tonnage Cu deposits about 40 km away.

This press release has been prepared by Alain Moreau, PGeo, vice-president of exploration at Lucky Minerals, a qualified person as defined by National Instrument 43-101.

We seek Safe Harbor.

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