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News Release - January 11, 2019 4:28 PM ET 

 

 

Lucky Minerals Provides Fortuna 3 Concession, Ecuador Exploration Update

  • Highly prospective for major discovery; Lucky is now in the center of what could be a Tier 1 discovery.

NEW YORK, NY, January 11,  2019 /Sector Newswire/ -- Lucky Minerals Inc. (TSX-V: LKY) (OTCQB: LKMNF) this week announced further results of an on-going geological mapping survey conducted on its 100%-owned Fortuna Project located approximately 60 km south-east of Town of Cuenca, Ecuador. The project is located in a prolific mineral belt approximately 40 km from Lundin Gold's Fruta del Norte (9.48 M oz Gold I+Inf) deposit and the Mirador (2.7 M oz Gold and 5.9 B lbs Cu M+I) deposit. Initial exploration efforts in 2018 involving geological reconnaissance mapping surveys and surface prospecting has defined a mineralized Porphyry system on its Fortuna 3, one of 12 contiguous concessions, the system displays an ovoid shape being 1.3 km long with an estimated width of 1 km; approximately 90% of the Porphyry signature has been mapped to date. This structure is trending north-west and lies on the junction of two regional NNE and NW structures.

 

Excerpt of January 8, 2019 news from Lucky Minerals Inc.:

 

Lucky Minerals Fortuna 3 Concession, Ecuador Exploration Update - El Buitre Target

 

Vancouver, BC, Jan. 08, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Lucky Minerals Inc. (TSX.V: LKY) (OTCPK: LKMNF) (FRA: LKY) (“Lucky” or the "Company") is pleased to announce further results of an on-going geological mapping survey conducted on its Fortuna Project (the “Project”) located approximately 60 km south-east of the Town of Cuenca, Ecuador.
 

48 assay results have been received from the November field survey. Assays of less than 50 ppm up to 0.075% Cu (750 ppm), less than 50 ppm up to 0.03% Mo (300 ppm) and 0.01 g/t Au up to 1.21 g/t Au have been reported. Anomalous gold values from 0 of up to 130 ppb have been also reported in the breccias within the Porphyry.
 

Surface prospecting undertaken in early December has located what management believe is a mineralized Porphyry system that displays an ovoid shape being 1.3 km long with an estimated width of 1 km; approximately 90% of the Porphyry signature has been mapped to date. This structure is trending north-west and lies on the junction of two regional NNE and NW structures.
 

During this most recent campaign, B veinlets varying between 1mm to 3mm have been widely observed in the Porphyry as well as major stockworks. The widespread presence of B veins, including some cross-cutting D veins, stockworks and numerous Mo showings indicate that we are on top of the Porphyry system and getting closer to the core of mineralization. It should be noted that no A veins have been encountered yet. Lucky’s exploration team believes that this current mapping program has identified a large-scale Porphyry system that will be subjected to detailed and ongoing field follow-up in the coming weeks. 50 mineralized samples from the above referenced B veins have been sent for assaying; results are pending.
 
QUALITY CONTROL
 

Rock samples on the Project were assayed by ALS in Lima with preparation performed in Quito. Samples were pulverized with 85% being under 75 microns and assayed by XRF and ICP techniques for multi-elements (four acid digestion) and major oxides. Gold was assayed using a 30g fire assay with AA finish.
 

Exploration program design and interpretation of results is performed by a Qualified person (QP) employing a Quality Assurance/Quality Control program consistent with industry best practices including the use of standards at every 20 samples.
 
NEXT STEPS
 

Starting early 2019, finalization of the current mapping program will be undertaken along with an airborne geophysical survey. Improvement of the existing dirt road and trails to an all-weather 14 km gravel road will be undertaken upon social approval. Aggressive grid-style sampling will continue on Fortuna 3 as well as regional prospecting on the 40 km major regional NNE structure. Other major regional NNE trending structures observed on the property will also be mapped and sampled.
 

This may be followed by a drilling program later in 2019. Fortuna 3 is one of 12 contiguous concessions which make up the Fortuna Property. Virtually no exploration has been done on these highly prospective concessions. Considerable potential exists for finding significant porphyry and epithermal Cu-Au mineralization throughout the Fortuna concessions.
 

“Lucky Minerals is very pleased by the results of this ongoing reconnaissance exploration program and we will continue to characterize in more details the identified porphyry system. We are excited to aggressively explore and prospect other targets on Fortuna 3 as well as on the 11 remaining concessions,” says CEO John Mears.
 
About Lucky
 

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% interest in Fortuna, a 550 km2 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 Cu/Au porphyry systems and epithermal Au deposits similar to numerous multi-million-ounce Au and bulk tonnage Cu deposits ~40km away.
 

This press release has been prepared by Alain Moreau, P.Geo., VP-Exploration at Lucky Minerals Inc., a “qualified person” as defined by NI 43-101 instrument. For further information, please consult Lucky’s website or contact: Tel: 866 924-6484, info@luckyminerals.com www.luckyminerals.com .

...click here for full copy from source

 

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Excerpt of November 20, 2018 news from Lucky Minerals Inc.:

 

Lucky Minerals Inc. Identifies a Mineralized Showing Enriched in K-Feldspar and Hydrothermal Biotite on its Fortuna 3 Concession Project in Ecuador

 

Vancouver, BC November 20, 2018 Lucky Minerals Inc. (TSX.V: LKY) (OTCPK: LKMNF) (FRA: LKY) (“Lucky” or the “Company“) is pleased to announce the results of the follow-up geological reconnaissance mapping survey conducted on its Fortuna Project located approximately 60 km south-east of Town of Cuenca, Ecuador. Prospecting and mapping were undertaken based on its previous July mission in the Fortuna 3 concession where combined assays of up to 416 ppm Cu+Mo have been obtained.
 

Additional prospecting and mapping of Area A has identified an altered mineralized granite. Alteration is mainly K-feldspar and hydrothermal biotite with abundant sulphide mineralization. Rocks are intensively altered and fractured. Minerals typical of high temperature environments, such as silica and pyrophyllite, have been recognized in the area.

 

In addition, a mineralized hydrothermal breccia has been discovered with abundant pyrite. The breccia consists of porphyry clasts within an oxidized matrix. This breccia has a minimum length of 200m and a width of 50m.

 

Lucky’s exploration team believes that this current reconnaissance mapping is indicating a large-scale doughnut shape structure of at least 1,2 km in diameter. Presence of molybdenite and high Mo/Cu ratio suggests that we are in the top of the system.

 

 

 

Next Steps
Lucky’s immediate next steps in December are to advance exploration on the property and to continue to perform systematic sampling on its Fortuna 3 concession. Starting early 2019, an airborne geophysical survey will be undertaken. Improvement of the existing dirt road and trails to an all-weather 14 km gravel road will be undertaken upon social approval. Aggressive grid-style sampling will continue on Fortuna 3 as well as regional prospecting on the 40 km major regional NNE structure. Other major regional NNE trending structures observed on the property will also be mapped and sampled.

 

This may be followed by a drilling program later in 2019. Fortuna 3 is one of 12 contiguous concessions which make up the Fortuna Property. Virtually no exploration has been done on these highly prospective concessions. Considerable potential exists for finding significant porphyry and epithermal Cu-Au mineralization throughout the Fortuna concessions.


“Lucky is very pleased by the results of this fall 2018 reconnaissance exploration program and we will continue to characterize in more details the identified porphyry systems. We are excited to aggressively explore and prospect other targets on Fortuna 3 as well as on the 11 remaining concessions.” Says CEO John Mears

About Lucky
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% interest in Fortuna, a 550 km2 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 & breccias, geochemical anomalies and placer mining supports potential for Cu/Au porphyry systems and epithermal Au deposits similar to numerous multi-million-ounce Au and bulk tonnage Cu deposits ~40km away.

 

This press release has been prepared by Alain Moreau, P.Geo., VP-Exploration at Lucky Minerals Inc., a “qualified person” as defined by NI 43-101 instrument. For further information, please consult Lucky’s website or contact: Tel: 866 924-6484, info@luckyminerals.com  www.luckyminerals.com .

...click here for full copy from source

 

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Excerpt of October 16, 2018 news from Lucky Minerals Inc.:

 

Lucky Minerals Inc. identifies two mineralized Porphyry systems with anomalous Cu-Mo values on its Fortuna Project in Ecuador

 

Vancouver, B.C. October 16, 2018 – Lucky Minerals Inc. (TSX.V: LKY) (OTCQB: LKMNF) (FRA:8LM) (“Lucky” or the “Company”) is pleased to announce the results of a geological reconnaissance mapping survey conducted on its Fortuna Project located approximately 60 km south-east of Town of Cuenca, Ecuador. Prospecting and mapping were undertaken based on prior structural and enhanced alteration mapping studies using satellite imagery which were conducted in May/June 2018. Results from these studies led to the identification of 4 high prospectivity areas (A to D) covering 8 km2 in the Fortuna 3 concession.
 

Image 1 – Partial View of Area A.

 

 

Subsequent prospecting and mapping of Area A (2 km2) (Image 1) resulted in the discovery of two porphyry systems with approximate dimensions of 1.2 km on strike by 300m wide. A pluri-kilometric oxidation blanket composed of silica, limonite, jarosite and hematite surrounds the two porphyry systems.
 

Image 2 – Oxidation Blanket Vectorization

 

 

Preliminary assessment of these two porphyry systems using major elements calculations is confirming field observations with an extensive potassic signature enrichment including an outer shell of pyrite mineralization typical of phyllic alteration that has been traced for more than 300m. Lucky’s exploration team believes that these two porphyry systems may in fact form one single doughnut shaped body measuring approximately 2km in diameter.
 

Image 3 – Preliminary Model.

 

 

Saw sampling over the area outlined quartz monzonite rocks with pyrite and oxidized pyrite being the dominant sulphide mineral along with minor Chalcopyrite, Chalcosine, Molybdenite and Malachite (Oxide). 176 samples were sent to MS Analytical lab- oratory including 15 control samples for major oxides and ICP multi-element as- says; multi-elements results are pending.
 

Image 4 – Mineralization Vectorization

 

 

Next Steps
 

Lucky’s immediate next steps to advance exploration on the property will be an airborne magnetics combined with radiometry survey with 3D inversion, improving the existing dirt road and trails to an all-weather 14 km gravel road, to be followed by an aggressive grid-style comprehensive sampling program along the two identified porphyry systems on Fortuna 3 as well as regional prospecting on the 40 km major regional NNE structure and other major regional NNE trending structures observed on the property. This may be followed by a drilling program in 2019. Fortuna 3 is one of 12 contiguous concessions which make up the Fortuna Property which has seen virtually no exploration and where considerable potential exists for finding significant porphyry and epithermal Cu-Au mineralization. It should be noted that no field work has been undertaken yet by Lucky and limited historical work was performed on the remaining 11 Fortuna concessions.
 
Quality control
 

Rock samples on the project were assayed by standard 30 grams fire-assaying with AA finish for gold, four acid ICP-OES for multi-elements (including Cu and Mo) and XRF for major elements (oxides) at MS Analytical in Vancouver, BC. Ex- ploration program design and interpretation of results is performed by a qualified person (QP) employing a Quality Assurance/Quality Control program consistent with industry best practices, including the use of standards at every 10 samples.

 

Lucky is very pleased by the results of this summer 2018 reconnaissance explo- ration program and will continue to characterize in more details the two identified porphyry systems and aggressively exploring and prospecting other targets on Fortuna 3 as well as on the 11 remaining concessions of its Fortuna Project.
 
About Lucky
 

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% interest in Fortuna, a 550 km2 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 & breccias, geochemical anomalies and placer mining supports potential for Cu/Au porphyry systems and epithermal Au deposits similar to numerous multi-million-ounce Au and bulk tonnage Cu deposits ~40km away.

The Emigrant Creek Project
 

Covers a 15 km2 area in an intensely altered and mineralized porphyry copper- gold-molybdenum system in southern Montana.

 

Nine highly mineralized breccia-pipes and two porphyry targets are known to exist within the company’s claims and have been variously explored by drilling, induced polarization geophysical surveys, rock chip sampling and geologic & alteration mapping.
 
This press release has been prepared by Alain Moreau, P.Geo., VP-Exploration at Lucky Minerals Inc., a “qualified person” as defined by NI 43-101 instrument. For further information, please consult Lucky’s website or contact:

ON BEHALF OF THE BOARD
John Mears
Chief Executive Officer

Further information regarding can be found on SEDAR at www.SEDAR.com.

Tel.: 866 924-6484 Website: www.luckyminerals.com  Email: info@luckyminerals.com

 

 
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is de- fined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Lucky’s periodic reports including the annual report or in the filings made by Lucky from time to time with securities regulatory authorities.

We seek safe harbor.

...click here for full copy from source

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Excerpt of October 12, 2018  news from Lucky Minerals Inc.:

2018-10-12 15:30 ET - News Release (Source: StockWatch.Com)
Mr. Steve Cozine reports

LUCKY MINERALS INC. ANNOUNCES INCREASE IN NON-BROKERED PRIVATE PLACEMENT PROCEEDS

Further to Lucky Minerals Inc.'s press release dated Oct. 11, 2018, regarding the closing of a private placement by the issuance of units of the company, the proceeds of such private placement were increased to $1,106,342 as the company received a final subscription for an additional amount of $45,000.
 
All capitalized terms not otherwise defined in this undertaking have the meanings attributed to them in the press release of the company filed on SEDAR and dated Oct. 11, 2018, which also provides complete details on the private placement.

The company intends to use the net proceeds from the private placement for working capital and general corporate purposes.

About Lucky Minerals Inc.
Lucky Minerals is a venture-stage exploration company that is targeting a large-scale porphyry copper-gold-molybdenum system in southern Montana that could potentially host significant gold deposit. The company is focused on its Emigrant Creek project, which covers a 15-square-kilometre area (six square miles) located in the core of the mineralized and intensely altered Emigrant mining district. To date, 10 highly mineralized breccia pipes and two porphyry targets exist within the company's property boundary.

We seek Safe Harbor.

...click here for full copy from source

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Excerpt of October 11, 2018  news from Lucky Minerals Inc.:

 

2018-10-11 19:04 ET - News Release (Source: StockWatch.Com)
Mr. Robert Rosner reports

LUCKY MINERALS INC. ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT
 

Lucky Minerals Inc. has completed a first tranche of its non-brokered private placement by the issuance of 7,075,612 units issued at a price of 15 cents per unit for gross proceeds of $1,061,342. Each Unit consists of one (1) common share in the share capital of the Company and one half (1/2) common share purchase warrant of the Company (the "Warrants"). Each whole Warrant entitles the holder thereof to purchase one common share in the capital of the Company at an exercise price of $0.22 for a period of 24 months following the closing date of the Private Placement. A finder's fee of 8% in cash as well as a corporate finance fee of $2,500 are payable on a portion of the Units in association with the closing of the Private Placement, the whole totaling $9,825. The closing of Private Placement and payment of finder's fees is subject to TSX Venture Exchange acceptance. Securities issued pursuant to the Private Placement are subject to a statutory hold period of four months and a day from the date of issuance.
 
Two insiders of the Company participated in the Private Placement and subscribed for an aggregate of 2,009,446 Units for gross proceeds of $301,416.94 Participation of insiders of the Company in the Private Placement constitutes a related party transaction as defined under Multilateral Instrument 61- 101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the exemption from the formal valuation requirement found in Section 5.5(b) of MI 61-101 (Issuer Not Listed On Specified Markets) and also relying on the exemption from the minority approval requirement found in Section 5.7(1)(a) of MI 61-101 (Fair Market Value Not More Than 25% of Market Capitalization) and Section 5.7(b) of MI 61-101 (Fair Market Value Not More Than $2,500,000 for the Related Party).
 
The Company intends to use the net proceeds from the Private Placement for working capital and general corporate purposes.
 
About Lucky Minerals
Lucky Minerals is a venture stage exploration company that is targeting a 550 km2 property in the heart of a proven and highly mineralized mineral district in Ecuador known as the The Fortuna Project, which has seen only limited exploration and has never been drilled. Evidence of significant hydrothermal alteration & breccias, geochemical anomalies and placer mining supports potential for Cu/Au porphyry systems and epithermal Au deposits similar to numerous multi-million ounce Au and bulk tonnage Cu deposits ~40km away.

...click here for full copy from source

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Excerpt of October 4, 2018  news from Lucky Minerals Inc.:

 

22018-10-04 12:10 ET - News Release (Source: StockWatch)
Mr. Robert Rosner reports
 
LUCKY MINERALS INC. ANNOUNCES CLOSING OF C$2,875,000 BOUGHT DEAL
 
Lucky Minerals Inc. has completed the bought deal offering of units of the company underwritten by Clarus Securities Inc., previously announced in the company's press release dated Aug. 20, 2018, for aggregate gross proceeds of $2.5-million. The underwriter also exercised the overallotment option in full and purchased an additional 375 units to cover overallotments, for additional gross proceeds to the company of $375,000 resulting in total gross proceeds of $2,875,000 for the offering.
 
Each unit issued pursuant to the offering consists of: (i) $1,000 principal amount of 12-per-cent three-year convertible unsecured unsubordinated debentures and convertible at a price of 15 cents per common share; and (ii) 2,500 common share purchase warrants of the company. Each warrant entitles the holder thereof to purchase one common share in the capital of the company at an exercise price of 22 cents for a period of 24 months following the closing date.
 
The net proceeds of the offering are expected to be used by the company toward its Emigrant Creek project, Fortuna project, general corporate purposes and as general working capital.
 
More information about the units and the offering can be found in the short-form prospectus of the company dated Sept. 25, 2018, that qualified the units for distribution in the provinces of British Columbia, Alberta, Ontario and Manitoba.
 
About Lucky Minerals Inc.
Lucky Minerals is a venture-stage exploration company that is targeting a large-scale porphyry copper-gold-molybdenum system in southern Montana that could potentially host significant gold deposit. The company is focused on its Emigrant Creek project, which covers a 15-square-kilometre area (six square miles) located in the core of the mineralized and intensely altered Emigrant mining district. To date, 10 highly mineralized breccia pipes and two porphyry targets exist within the company's property boundary.

...click here for full copy from source

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The Fortuna project exhibits many similarities with significant epithermal gold and Cu-Mo porphyry deposits.

  

Click to view video overview of Fortuna Project, Ecuador [running time 3 min. 57 sec.]:

 

Ecuador is in the midst of a mining investment renaissance and considered one of the hottest mining investment destinations right now; recent news of the world’s largest miner BHP (ASX, NYSE:BHP) (LON:BLT) having bought a 6.1% stake in Ecuador-focused explorer SolGold (LON:SOLG) (TSX:SOLG) for $35 million has signaled strong confidence in the region. 

 

The following URLs have been identified for further DD on Lucky Minerals Inc.:

 

Company website: http://www.luckyminerals.com

 

SEDAR: https://sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00028577

 

Recent Mining MarketWatch Journal review of Lucky Minerals: http://miningmarketwatch.net/lky.htm

  

 

This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell any of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URL(s).

 

 

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