Mr. Robert Rosner
LUCKY MINERALS ECUADOR FORTUNA CONCESSIONS UPDATE
Lucky Minerals Inc.
has renewed its full 550-square-kilometre, 12-concession Fortuna
project in Ecuador. The concessions are located within the fertile
Jurassic tract, which in turn is situated along a major porphyry copper trend
established by the U.S. Geological Survey and on one of the four suture zones of Ecuador.
Mapping and surface sampling conducted to date on the recently discovered El
Buitre porphyry system, located in the central cordillera, which is contained within
the Fortuna 3 concession, about 40 kilometres west of the Fruta del Norte deposit, have been finalized with 316 channel samples assayed so far, including 26 standards.
Additional assays on 635 samples are pending.
Fortuna 3 is one of 12 contiguous concessions that make up the Fortuna
The company reports that certain directors and officers advanced funds in the
aggregate amount of $267,000 by way of interim loan agreements in order to
ensure the timely payment of Ecuadorean taxes due on the aforementioned Fortuna
project concessions. The loans are unsecured, 30-day demand instruments that
carry an interest rate of 12 per cent per year. The funds were provided to the company
while the board of directors continues to discuss and evaluate continuing financing
opportunities to finance future exploration objectives. The directors and officers who
advanced funds by way of loan agreements are as follows:
Joao Carrelo ($102,000); Robert Rosner ($90,000); Alain Moreau ($50,000); and
Francois Perron ($25,000).
About Lucky Minerals Inc.
Lucky Minerals is 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-kilometre 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, stockwork, breccias, geochemical
anomalies and placer mining supports potential for copper/gold porphyry systems and
epithermal gold deposits similar to numerous multimillion-ounce gold and bulk-tonnage copper deposits approximately 40 kilometres away.
This press release has been prepared by Alain Moreau, PGeo, vice-president, exploration, at
Lucky Minerals, a qualified person as defined by NI 43-101 instrument.
We seek Safe Harbor.
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