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Lucky Minerals very pleased with ongoing reconnaissance exploration at Fortuna project

Surface prospecting last month identified what was believed to be a mineralized porphyry system

Ecuador flag
The Fortuna project is in Ecuador

Lucky Minerals Inc (CVE:LKY) (OTCMKTS:LKMNF) says it is "very pleased" with ongoing exploration at the Fortuna project, which lies around 60 km south-east of the town of Cuenca, Ecuador.

Surface prospecting last month identified what was believed to be a mineralized porphyry system.

READ THE BIG PIC: Lucky Minerals Inc targets major copper and gold systems in Ecuador

Now, 49 assays have been received from a November field survey, including assays of less than 50 ppm (parts per million) going up to 0.075% copper (750 ppm). There was also finds of less than 50 ppm up to 0.03% Mo (molybdenum) (300 ppm) and 0.01 g/t (grams per ton) gold up to 1.21 g/t.

"Lucky Minerals is very pleased by the results of this ongoing reconnaissance exploration program and we will continue to characterize in more details the identified porphyry system," said CEO John Mears in a statement.  "We are excited to aggressively explore and prospect other targets on Fortuna 3 as well as on the 11 remaining concessions."

Fortuna 3 is one of 12 contiguous concessions which make up the Fortuna property. 

The Vancouver-based company noted that virtually no exploration has been done on these highly prospective concessions and that "considerable" potential exists for finding significant porphyry and epithermal Cu-Au (copper-gold) mineralization throughout the Fortuna concessions.

Plans for early 2019

Lucky Minerals says it has planned, for early 2019, finalizing the current mapping program, along with an airborne geophysical survey.

It also plans to improve the existing dirt road, while sampling will continue on Fortuna 3 as well as regional prospecting on the 40 km major regional NNE (north-north east) structure. 

Other major regional NNE trending structures observed on the property will also be mapped and sampled.

Lucky Minerals has a 100% interest in Fortuna, which is a 550 sq. km property in the heart of a proven and highly mineralized mineral district in Ecuador but which has seen only limited exploration and has never been drilled.

Quick facts: Lucky Minerals Inc

Price: 0.22 CAD

Market: TSX-V
Market Cap: $10.2 m

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