Featured Video Play Icon
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Lucky Minerals (LKY) has identified a new epithermal system, the Wayka target
  • The Wayka target lies within an area bound to the east by the El Buitre Porphyry Prospect and to the west by the Emma Porphyry Prospect
  • A total of 36 rock samples have been submitted for Terraspec analyses to determine the type of alteration minerals
  • An additional 38 rock chip samples from Wayka have been submitted to ALS Chemex laboratories in Quito
  • Lucky has 3 other significant areas of interest in Ecuador
  • Lucky Minerals (LKY) is focused on acquiring and exploring large-scale mineral systems
  • Lucky Minerals Inc. is down 6.67 per cent, trading at C$0.07 per share at 4pm ET.

Lucky Minerals (LKY) has identified the Wayka target, a new epithermal system at its 100% owned Fortuna Property.

The Wayka target includes an outcrop sample showing 2.9 g/t gold.

The Fortuna Property comprises approximately 55,000 hectares in a known mineralized zone in southern Ecuador.

The Wayka target lies within a topographic high (ridge) bound to the east by the El Buitre Porphyry Prospect and to the west by the Emma Porphyry Prospect.

Wayka, a large mineralized area is characterized by outcrops of rhyolite with vuggy silica, breccias, alunite and jarosite, which are all typical of epithermal gold systems. The Wayka target currently remains open to the south, north and east. In the middle area lies a dacite porphyry and breccia zone which is approximately 600 meters by 400 meters.

A total of 36 rock samples have been submitted for Terraspec analyses to determine the type of alteration minerals associated with this mineralized system.

An additional 38 rock chip samples from Wayka have been submitted to ALS Chemex laboratories in Quito for preparation work which will be followed by analytical work to be completed at their lab facility in Lima.

Current fieldwork is focused on surface exploration and includes additional sampling in order to better understand the size of the mineralized system at surface, which will be followed by detailed mapping and then scout drilling.

In Ecuador, Lucky has 3 other significant areas of interest, the Shincata Gold Trend a northeast-trending Miocene volcanic belt that is host to the El Mozo epithermal gold deposit, the El Garo Target, located in Fortuna 1 the 10 South Anomaly, approximately 1.5 km north of the El Mozo gold deposit.

Lucky also owns 100% of the Emigrant Creek Project in southern Montana, which covers a 15 square kilometre area in an intensely altered and mineralized porphyry copper-gold-moly system.

Lucky Minerals (LKY) is focused on acquiring and exploring large-scale mineral systems.

Lucky Minerals Inc. is down 6.67 per cent, trading at C$0.07 per share at 4pm ET.

More From The Market Herald
Superior Gold - Director, Michael Pesner.

" Superior Gold (TSXV:SGI) nominates new director

Superior Gold (SGI) has filed a management information circular for its annual general meeting.

" Sulliden Mining Capital (TSX:SMC) acquires securities of Xander Resources

Sulliden Mining Capital (SMC) acquired 7,142,857 units of Xander Resources in a private placement.

" Eastern Platinum (TSX:ELR) updates technical report on Crocodile River Mine

Eastern Platinum Limited (ELR) has filed a Technical Report on the Crocodile River Mine (CRM), North West Province in South Africa.