Lucky Minerals Inc (CVE:LKY) (OTCMKTS:LKMNF), the Ecuador-focused explorer, updated investors on work at its Fortuna property, where another target zone for gold has been identified.
A system of quartz veins has been discovered at the Fortuna 3 and 4 concessions at the 55,000-hectare royalty-free property.
READ: Lucky Minerals expands recently discovered El Garo target on its Fortuna project in Ecuador
"The identification of another target zone proximal to the El Buitre porphyry is testament to the quality of this project and represents a proof of concept on Fortuna as a potential host of epithermal gold mineralization. Congratulations to the team and a big thanks for their hard work and relentless belief in this project," said CEO Adrian Rothwell.
The majority of the veins are of quartz and their widths range from 0.40 metres (m) to 2 m. Samples are being taken for assay.
Elsewhere, at the recently discovered El Garo target, permitting for the planned soil grid sampling program over an area of around 4 kilometres (km) by 2 km is now complete and work will begin next week, Lucky revealed.
The El Garo alteration zone has been extended to an area of around 1.6 km by 0.8 km and remains open in all directions.
To advance exploration work in this area, Lucky has also started the permitting process for initial trenching and scout drilling, the firm added.
At the Fortuna property, Lucky has a memorandum of understanding on Fortuna with mining giant First Quantum Minerals (TSE:FM), which can earn up to 70% of copper targets.
Contact the author at giles@proactiveinvestors.com