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Lucky Minerals receives new trench sample assays averaging 0.33 g/t gold over 20 metres from Macuche in southern Ecuador

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A 20-meter-long hand dug trench in altered schists with stockwork quartz-hematite-tourmaline veinlets at Sherman in an area known as Macuche, returned an average of 0.33 grams per tonne gold from systematic 1.0 metre x 0.50 metre panel samples.

Additional Information:

Company: Lucky Minerals
Website: http://www.LuckyMinerals.com
Stock Symbol: TSXV: LKY
Date Published: Jun 24, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Lucky Minerals has received new assays from its Fortuna Property in Southern Ecuador.

The 100% owned Fortuna property covers 550 square kilometres or approximately 55,000 hectares in a highly prospective, yet underexplored, gold belt in southern Ecuador.

A 20-meter-long hand dug trench in altered schists with stockwork quartz-hematite-tourmaline veinlets at Sherman in an area known as Macuche (mah-koo-chay), returned an average of 0.33 grams per tonne gold from systematic 1.0 metre x 0.50 metre panel samples.

The stockwork veining remains open at both ends of this trench.

At this time, mineralization at Macuche has been observed to be related to quartz-pyrite (hematite) stockwork type veinlets in a strongly altered (sericitic) rock.

There are presently more than 18 samples, some coming from historical artisanal pits that are approximately 250 metres from the Macuche trench.

These assays are pending and are expected in the coming weeks.

As this is an area at an early exploration stage, geological work will continue to better identify the extent of this mineralized area at surface.

Prospecting work will include geological mapping to determine rock and alteration types.

Francois Perron, President and CEO, stated: “Our recent field work at Macuche was a follow up on an area that had gold values of interest which we have previously announced. The goal was to understand the continuity of the stockwork system. These results indicate that the stockwork system is pervasive over 20 metres and the potential for bulk tonnage is very real. The mineralization in the trench remains open both to the east and to the west. More work needs to be done in the area to understand both the scale and controls of the veining. Local prospecting will be undertaken in order to follow up on some historical artisanal pits that have been located nearby.”

Lucky's exploration team has continued with geological mapping and sampling at Wayka, which will be followed by a detailed mag survey and trenching program which will subsequently lead to scout drilling.

Wayka lies along an elevated ridge that trends northeast with elevations ranging from approximately 3,600 metres to 3,700 metres above sea level and is bound to the East by the El Buitre Porphyry and to the West by the Emma Porphyry.

Terraspec analyses of rock samples taken from the southern zone of Wayka has outlined an area of advanced argillic alteration with outcrops of vuggy silica that measures approximately 800 metres by 1,000 metres and remains open to the south.

Within this newly explored area, a rock panel sample returned 4.15 grams per tonne gold from a siliceous volcanic breccia. This work has extended the alteration zone to the south by approximately 500 metres.

Field work continues at El Garo which is located less than 8 kilometers north of Wayka.

El Garo is a large epithermal system with outcrops of dacite and vuggy silica.

Due to a lack of outcrop, the soil sampling program initiated last year is now presently in the process of being completed.

Results from this program will be combined with trenching followed by a detailed mag survey leading to a drilling program at El Garo.

The shares are trading at $0.06.

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

I’m Megan Edwards for Investmentpitch Media