Lucky Minerals (TSX-V:LKY, OTC:LKMNF) Inc told investors that it has been encouraged by fieldwork at its Wayka epithermal gold discovery at its Fortuna project in Ecuador, where it continues to find "feeders" north of the initial discovery zone.
Wayka lies along a ridge that trends northeast up to 3,700 metres (m) above sea level and is bound to the east by the El Buitre porphyry and to the west by the Emma porphyry and geological mapping, trenching and channel sampling is ongoing there.
"The team has resumed work at Wayka," said Francois Perron, the CEO of the company.
"We are very pleased to continue to find feeders with silicification in these breccias. Trench 31, while showing only anomalous values of gold confirms that we continue to find the right plumbing," he added.
READ: Lucky Minerals says trenching at its Ecuador gold discovery has identified additional mineralization ahead of its upcoming drill program
"The system is mineralized, and we continue to find additional feeders as we go north from the initial discovery zone.
"As we are closer to the interpreted barren lithocap, we believe that we are relatively high up in the system and that this work is opening up the potential of the area below this anomalous upper portion."
At Wayka, current fieldwork is focused on surface trenching around the discovery zone, the firm added.
There are another 35 assays pending from an area in the discovery zone and seven assays from an area north-east of this zone.
Lucky 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.
Fortuna comprises 12 contiguous, 550 square kilometre (sq km exploration concessions and sits in a highly prospective, yet underexplored, gold belt in southern Ecuador.
Contact the writer at giles@proactiveinvestors.com