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Lucky Minerals identifies porphyry system at Fortuna 3 concession project in Ecuador

The Vancouver-based mining company says the system is ovoid in shape and 1.2 kilometers (0.7 miles) long

Map of Ecuador
Lucky Minerals says two mineralized hydrothermal breccias were mapped in Ecuador with abundant pyrite

Lucky Minerals Inc (CVE:LKY) (OTCMKTS:LKMNF) said that a geological mapping survey in Ecuador has identified a mineralized porphyry system.

The Vancouver-based mining company said in a press release Tuesday that the porphyry system was found at the Fortuna 3 concession project. The system is ovoid in shape and 1.2 kilometers (0.7 miles) long. It is made up of porphyritic dacite surrounded by a coarse-grained granodiorite.

READ: Lucky Minerals targets major copper and gold systems in Ecuador

In addition, according to Lucky Minerals, two mineralized hydrothermal breccias were also mapped with abundant pyrite. 

Next steps for Lucky include an airborne geophysical survey in early 2019. The company also plans to replace a dirt road and trails with a 14-kilometer (9-mile), all-weather gravel surface

“Our field teams have been doing an incredible amount of high-quality effort to progress the Fortuna 3 concession,” CEO John Mears said in a statement. “The initial indications are extremely positive, and we couldn’t be more pleased. We will continue to move forward with aggressive sampling and mapping for the remainder of the year.”

Last May, Lucky closed the purchase of Goldmindex SA, a private Ecuadorian company. 

Shares of Lucky Minerals advanced C$0.02 to C$0.14 in Wednesday's Canadian trading. 

--This story has been updated to add the company's next steps, a quote from CEO John Mears and updated stock prices--

 

Contact Dennis Fitzgerald at [email protected]

 

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Price: 0.185 CAD

TSX-V:LKY
Market: TSX-V
Market Cap: $8.58 m
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