Lucky Minerals (TSX-V:LKY, OTC:LKMNF) Inc announced that it has discovered large intersections of gold mineralization in the initial 384 metres (m) of the ongoing drill program at its Wayka Project in Ecuador, with results that included 5.24 grams per tonne (g/t) gold over 14m in drill hole DDHW-001-2023 in the southern edge of trench 21.
The exploration and development company said it has completed the first five shallow drill holes at Wayka, which is designed to follow up on the trenches previously announced in the Discovery Zone.
“To have discovered large intersections of near-surface gold mineralization in our first five shallow holes at Wayka, totalling just 384 metres, is a substantial achievement and a credit to both the quality of our exploration team and the prospectivity of the project,” Lucky Minerals (TSX-V:LKY, OTC:LKMNF) CEO François Perron said in a statement.
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“Based on an analysis of the results to date, we believe that these initial drill holes have intersected the margins of the epithermal gold system and that additional drilling will allow us to vector into the higher-grade feeder structures within the system,” Perron added.
Lucky noted of the five holes drilled to date, every single hole has returned anomalous gold mineralization.
The company added that the objective of the initial drill program was to prove the continuity of the siliceous lenses to depth and its lithological and/or structural control.
As well, Lucky stated the initial phase of drilling has successfully shown that the gold mineralization lenses do have continuity at depth, and tend to follow the rock foliation, and appear to have the shape of an elongated ellipsoid.
Exploration teams are working on locating the feeder or conduits through which the hydrothermal fluids have ascended, as the feeders are generally known to host higher gold grades, according to the company.
Lucky Minerals (TSX-V:LKY, OTC:LKMNF) is an exploration and development company 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.
The company's Fortuna Project comprises twelve contiguous, 550-square kilometres (55,000 hectares, or 136,000 acres) exploration concessions. Fortuna is located in a highly prospective, yet underexplored, gold belt in southern Ecuador.
Contact Sean at sean@proactiveinvestors.com