Lucky Minerals (TSX-V:LKY, OTC:LKMNF) Inc has reported more trench sampling results from its Wayka gold discovery at the flagship Fortuna project in Ecuador ahead of upcoming drilling.
The latest assays come from three trenches - a cluster comprising T-17, T-18 and T-19 - which sit around 75 metres (m) south of the combined trenches T-5 and T-6 where an average of 1.67 grams per ton (g/t) gold was reported over 61m.
T-17 sampled 0.86 grams per ton (g/t) gold across a width of 36m, while T- 18 showed 0.16 g/t gold across 12m.
"Our investigation of the area identified by T-10 and T-11 has exposed a structure of scale with T-17 reporting at least 36 metres of mineralization," said François Perron, the CEO of Lucky, in a statement.
"The fact that this structure is in relatively close proximity to previous work where the 61 metres of mineralization was reported, highlights the potential for multiple mineralized structures in close proximity.
READ: Lucky Minerals says soil alteration mapping expands southern alteration zone at Wayka
"We are eager to find out what lies between the areas that we were able to trench, as there is potential for discovery of other structures. The upcoming drill program will better determine how all these structures manifest in 3D," he added.
Outlining the next steps for the Wayka discovery, Lucky Minerals (TSX-V:LKY, OTC:LKMNF), said drill hole targeting was continuing in preparation for the upcoming first 3,000m phase of drilling.
This targeting will be informed by the following, it said:
- Soils (just completed)
- Alteration mapping of Wayka project area (just completed)
- Geophysics (just completed, finalizing inversions)
- Trenches (ongoing)
- Structural analysis of Wayka area (field work completed awaiting final report)
- Prospecting on anomalous areas.
- Preparation work for mobilization of drilling equipment is underway
The Fortuna project is comprised of 12 contiguous, 550 km2 (55,000 hectares, or 136,000 acres) exploration concessions. Fortuna is located in a highly prospective, yet underexplored, gold belt in southern Ecuador.
Contact the author at giles@proactiveinvestors.com