Posted in | News | Gold | Mining Business

Lucky's Geological Team Tracks Multiple Feeder Zones at Surface with Stellar Gold Values

Lucky Minerals Inc. has several new gold discoveries at its 100%-owned royalty-free 550 km2 (55,000 Ha, or 136,000 Acres) Fortuna Project in Ecuador, located in prolific mineral belts ~40 km from Lundin Gold's Fruta del Norte (9.48 M oz Au I+Inf) deposit and the Mirador (2.7 M oz Au and 5.9 B lbs Cu M+I) deposit.

Within the last few months Lucky's geological team has discovered an entirely new gold trend, the Shincata Gold Trend, which extends across the NW Fortuna concessions for ~22 km, in an area of multiple volcanic centers. Lucky's geological team is actively exploring on ground with all the ingredients for extensive gold potential; on July 12, 2021 announced "Lucky Minerals Systematic Sampling of Outcrop Averages 3.06 g/T Gold over 4.0 m at Wayka" (T1 results), and July 30, 2021 "Lucky Minerals Samples 8.08 g/t Gold Across 7.0 m Including 17.63 g/T Gold Across 3.0 m at Wayka" (T6 results) -- In-short, Lucky Minerals has tapped into a high-sulfidation epithermal gold system that has shown economic levels of mineralization at surface, this type of deposit tends to be a disseminated body that can scale up quickly.

The geological team is tracking multiple feeder zones at surface (T1 & T6 are 700 m apart), how far this carries is being investigated now; there are teams in the field bringing back new information from material exposed at surface. The geological team is mapping advanced argillic alteration (high-temperature volcanic material favourable for trapping/hosting gold) across a significant and rapidly expanding footprint, there is evidence pointing to parallel feeder zones to be uncovered, and Lucky plans to put drills into optimized targets this year -- favourable results are apt to send the share price vertical. The aforementioned July 12 feeder zone has been followed to at least ~30 m, it trends east to west, with stellar grades in what has been released to date. This is a rapidly developing story, lots of information is incoming, and quickly turning into one of the most exciting exploration efforts in the mining sector.

Lucky Minerals is the subject of a Mining MarketWatch Journal review, full copy of which may be viewed at online.

The Shincata Gold Trend was named by Lucky after the Shincata River (and basin) which runs through Lucky's property. The river basin has numerous historical workings (documented for 300+ years, likely active since Inca times), and currently hosts local artisanal alluvial and placer gold mining. Prior to Lucky's geological team, no one has found gold on the concessions outside the river area, it was unexplored prime virgin ground; Lucky's Fortuna concessions were acquired in 2018 from a private company that essentially sat on coveted prime ground for close to two decades as major discoveries were made surrounding it. The project is ripe for discovery of significance having received (prior to Lucky) no modern exploration or drilling.

The Fortuna Gold Project lays within a tertiary volcanic belt that trends NE-SW through the property, these are volcanics which are known to hosts major epithermal gold deposits, similar trending structures intersect neighboring Fruta del Notre, Mirador, Loma Larga, El Mozo and others. Satellite imagery confirms what is understood to be a collapsed caldera proximal to the discoveries Lucky is now making.

Lucky's Fortuna concessions are located in a strategic land position, within 80 km from numerous gold and copper deposits:

  • Lundin Gold Inc. - Fruta Del Norte- M&I 4.82M oz Au, 6.33 M oz Ag.
  • Lumina Gold Corp.  - Cangrejos Deposit - Ind. 8.91 M oz Au,10.57 M oz Ag, .12% Cu.
  • Solaris Resources Inc. - Warintza - Presently conducting 40,000 m drill program. Based on historic drilling - 124 MT Inferred 0.70% CuEq2 (0.56% Cu, 0.03% Mo and 0.06 g/t Au).
  • Dundee Precious Metals Inc. (TSX:DPM) - Loma Larga Deposit - M&I 2.91 Million oz Au, 19.22 M oz Ag, .22% Cu.
  • Enami - EP - Gaby-Papa Grande- Ind. 6.98 M oz Au, .09% Cu.
  • EcuaCorriente - El Mirador- M&I 2.81 M oz Au, 21.11 M oz Ag, .61% Cu Ag

Lucky Minerals is advancing three project areas this 2021: 1) Wayka (epithermal) which is the main focus of exploration efforts, 2) Macuche (mesothermal), and 3) El Garo (epithermal) project area. Mining MarketWatch Journal has an overview of the opportunity in each project area; See online for full copy.


Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback