Lucky Minerals (TSX-V:LKY, OTC:LKMNF) Inc has reported encouraging trench sampling results from its Wayka gold discovery at its flagship Fortuna project in Ecuador.
The results come from two trenches, which were extended, and when combined into one, average 1.67 grams per ton (g/t) gold over 61 metres (m).
Combined in a north-south direction, the trenches also show three distinct mineralized trends, interpreted to be feeder zones.
"By extending trenches T-5 and T-6 we have established that some mineralization at Wayka appears to be hosted in parallel mineralized trends or feeders," François Perron, the CEO of Lucky, told investors in a statement.
"What is even more exciting is that these feeders are fairly high grade and are in proximity to each other. Establishing mineralization over 61 metres at surface is a significant step in advancing Wayka," he added.
READ: Lucky Minerals says trenching at Wayka gold discovery in Ecuador is expanding mineralized footprint
The northernmost trend (feeder) averages 0.46 g/t gold across 9m, said Lucky, while the middle-mineralized trend (feeder) averages 6.68 g/t gold across 12m. The southernmost mineralized trend averages 2.40 g/t gold across 7m and remains open to the south, added the company.
Perron continued: "Adding to this exciting development is the fact that we have identified further mineralization in trenches T-10 and T-11 which are only 70 metres from the area that we are reporting on today. Although these two trenches have yet to intersect their associated feeders, the potential for discovering additional parallel feeders is enticing."
It comes after, last month, the firm posted the latest exploration results from the Wayka discovery which expanded the mineralized footprint.
As well as the current trenching, Lucky noted it had mobilized crews to complete a detailed soil sampling program which will be combined with geophysics in order to refine targeting and drilling expected in coming months.
Lucky's wholly-owned Fortuna project comprises 12 contiguous exploration concessions spanning 550 square kilometres (sq km). It lies in highly prospective, yet underexplored, gold belt in southern Ecuador.
Contact the author at giles@proactiveinvestors.com