Lucky Minerals (TSX-V:LKY, OTC:LKMNF) Inc has posted encouraging exploration results from the Kelly Zone at its Wayka epithermal gold discovery at its 55,000-hectare (Ha) Fortuna project in Ecuador.
The Kelly zone boasts a mineralized breccia, which has been identified over a 100 metre (m) strike length, and when current work is combined with previous trenches, a significant breccia has now been confirmed, the company said.
"Recently the team has been working in the Kelly zone where there is better outcrop exposure," said Francois Perron, the CEO of Lucky.
"Mineralization is being exposed and confirms the presence of a large breccia unlike those seen in the structurally controlled feeders of the Discovery zone.
"Work to date confirms a size of approximately 100 by 40 metres for the breccia. Recent results for the channels confirm that where the alteration is advanced argillic or siliceous there is the presence of gold," he added.
READ: Lucky Minerals expands mineralization as work at Wayka gold discovery continues
"The presence of rounded fragments in the breccia is encouraging and could reflect the fact that we are high up in the system. Through their hard work the team has continued to define more alluring drill targets which we look forward to."
Channel 21 (C-21) in the Kelly zone returned gold values within a silicified breccia zone comprised of subrounded to subangular fragments of dacite, meta-granite and schist.
Highlight sample results included 0.46 grams per ton (g/t) of gold over 25 metres (m), including 0.98 g/t gold over 11m.
Meanwhile, around 40 m southeast of C-21 and at around 3,635 metres elevation, another trench (T-12) returned an average of 1.21 g/t of the precious metal over 10m.
Other channels in the Kelly Zone (C-24 and C-25) are in silicified hydrothermal breccias and returned anomalous gold. Channel 15 returned 19 metres with 0.19 g/t gold, while channel 20 returned 1.04 g/t gold across 13m.
Current field work is focused on surface trenching around the Discovery and Kelly zones. There are another 236 assays pending from ongoing field work.
Lucky is an exploration company, which is targeting large-scale mineral systems in proven districts with the potential to host world class deposits. Lucky owns a 100% interest in the Fortuna property.
Contact the author at giles@proactiveinvestors.com