Lucky Minerals progressing exploration to define drill targets at the recently discovered Wayka epithermal gold system

Lucky Minerals Inc (CVE:LKY) (OTCPINK:LKMNF) gave a progress report on ongoing exploration at its recent Wayka epithermal gold discovery on its Fortuna property in southern Ecuador.

The Vancouver-based junior company said that it is continuing with geological mapping and sampling at Wakya and is preparing an updated outcrop geology map of the area.

To date, Lucky has received a total of 12 assay results from ALS Chemex Labs with samples up to 2.9 grams per ton (g/t) gold.

READ: Lucky Minerals identifies new epithermal system, the Wayka target, in southern Ecuador

“Our recent Wayka discovery of mineralized vuggy silica hosted in volcanics at surface confirms we are in a high-sulfidation epithermal system,” CEO Francois Perron said in a statement.

“The geophysical data from El Buitre-Emma which revealed a magnetic low anomaly leading to the interpretation of a NNE structure has now been confirmed to coincide with the alteration at surface.”

The anomaly is at least three kilometres long in a north-easterly direction and extends to the limit of the current data, according to Perron.

“Our teams are pursuing work in the field that will lead to a better understanding of this system both in terms of scale and alteration types which could allow to identify potential feeder zones. This exciting work will lead to drill targets that will be tested in the coming months.”

The firm is also conducting exploration at El Garo, a large epithermal system with outcrops of dacite and vuggy silica less than eight kilometres north of Wayka.

Lucky told shareholders that due to a lack of outcrop, a soil sampling program was initiated last year and is in the process of being completed. Results from the program will be combined with trenching.

The group is planning a drilling program for El Garo.

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Story by ProactiveInvestors