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Lucky Minerals Announces Start of Exploration Work on Fortuna Project in Ecuador

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Lucky Minerals, an exploration and development company targeting large-scale mineral systems in proven districts with the potential to host world class deposits, has deployed exploration teams to its 100% owned Fortuna Project, located in Ecuador.

Additional Information:

Company: Lucky Minerals
Website: http://www.luckyminerals.com
Stock Symbol: TSXV: LKY
Date Published: Mar 11, 2020
Transcript: Available

Video Transcript:

I’m Nadika Viswakula for Investmentpitch Media

Lucky Minerals, an exploration and development company targeting large-scale mineral systems in proven districts with the potential to host world class deposits, has deployed exploration teams to its 100% owned Fortuna Project, located in Ecuador.

The company's Fortuna Project, a royalty-free 550 square kilometer exploration concession, is located in a highly prospective, yet underexplored, gold belt in southern Ecuador.

Lucky has a memorandum of understanding on Fortuna with First Quantum Minerals Ltd. whereby First Quantum is able to earn up to 70% of copper targets.

The Fortuna Project has potential to host three significant types of gold mineralization - epithermal, orogenic, and placer gold - as well as, copper-gold porphyry systems coincident with twelve known volcanic centres on the property.

The El Buitre porphyry target on Fortuna 3 is known to host favorable copper-gold mineralization and is a likely target under the company's memorandum of understanding with First Quantum Minerals Ltd.

Primary objectives are follow-up work of anomalous areas and reconnaissance on the Fortuna 8, 9, and 10 concessions in the northwest, and the Fortuna 11 and 12 concessions in the southern region of the concession area.

This work is concurrent with work being completed by First Quantum Minerals.

The company will focus on mapping areas of alteration and taking rock samples.

The objective being, to locate the source of the recently observed gold mineralization in the Shincata River regions, to review known areas with anomalous gold and define new areas in order to define areas for follow-up ground geophysics, trenching and ultimately drill targets.

Adrian Rothwell, CEO, stated: "To date geological fieldwork has identified several possible volcanic hosted epithermal type gold targets in the northwestern section on the Fortuna 8, 9 and 10 concessions. Subject to the success of this program, we look forward to conducting ground IP/resistivity geophysical surveys and soil sampling in order to define potential drill targets this year. Other priority exploration work now underway is to confirm the occurrence of orogenic type gold mineralization along a metamorphosed Paleozoic belt known in Ecuador as the "Cordillera Real" (Fortuna 11 and 12 concessions)."

Other operators and majors have created a positive mining investment climate in Ecuador with a targeted US$4 billion investment expected by 2021.

Lucky also owns or controls the Emigrant Creek Project in Montana, which covers a 15 square kilometer area in an intensely altered and mineralized porphyry copper-gold-molybdenum system.

Nine highly mineralized breccia-pipes and two porphyry targets are known to exist within the company’s claims.

The shares are trading at $0.02.

For more information, please visit the company’s website, www.luckyminerals.com, contact Adrian Rothwell, President and CEO, at 866-924-6484 or by email at investors@luckyminerals.com.

I’m Nadika Viswakula for Investmentpitch Media