InvestmentPitch Media Video Discusses Lucky Minerals’ Discovery of Large Intersections of Gold Mineralization in the Initial Stage of its Ongoing Drill Program at its Wayka Project in Ecuador

Rhea-AI Summary

Lucky Minerals (OTCPink:LKMNF) has reported significant gold mineralization discoveries at its Wayka Project in Ecuador. The project spans 550 square kilometers in a promising gold belt. The initial drill program has produced five holes, demonstrating continuity of gold mineralization, with results showing grades up to 0.87 g/t gold over 5.82 meters. Drill hole DDHW-001-2023 encountered 0.64 g/t gold from surface to 7 meters, while DDHW-003-2023 achieved 0.68 g/t gold over 10 meters.

The company's shares are trading at $0.035, reflecting strong exploration advancements in the highly prospective area.

Positive

• Significant intersections of gold mineralization discovered during initial drill program.
• Drill results include 0.87 g/t gold over 5.82 meters, supporting exploration success.
• Large exploration area of 550 square kilometers in a promising gold belt.

Negative

• None.

VANCOUVER, British Columbia, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Lucky Minerals (TSXV:LKY) (OTCPink:LKMNF) (FSE:LKY) has discovered large intersections of gold mineralization in the initial stage of its ongoing drill program at its Wayka Project in Ecuador. The 100% owned Fortuna property covers 550 square kilometers or approximately 55,000 hectares of exploration concessions in a highly prospective, yet underexplored, gold belt in southern Ecuador.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information about this news along with comments from Francois Perron, President and CEO of Lucky Minerals, please view the InvestmentPitch Media video. The video is available for viewing on “InvestmentPitch” or on “YouTube”. If the link is not available, please visit www.InvestmentPitch.com and enter “Lucky” in the search box.

The Wayka epithermal gold discovery lies along an elevated ridge that trends northeast with elevations ranging from approximately 3,600 meters to 3,700 meters above sea level and is bound to the East by the El Buitre Porphyry and to the West by the Emma Porphyry.

Lucky has completed the first 5 drill holes at Wayka using lightweight drill equipment developed by the company’s drilling partner Hubbard Drilling. These shallow holes were designed to follow up on the trenches previously announced in the Discovery Zone. The objective of this initial drill program was to prove the continuity of the siliceous lenses to depth and its lithological and/or structural control.

Drill hole DDHW-001-2023 was drilled to intersect the gold mineralization outlined in the southern edge of trench 21, which previously returned 5.24 g/t gold over 14 metres. This drill hole intersected strongly silicified rock containing gold mineralization from surface to a depth of 7 metres, with an average grade of 0.64 g/t gold.

Drill hole DDHW-003-2023 was drilled to intersect the surface gold mineralization outlined between trenches 6 and 14. This drill hole intersected gold mineralization from a depth of 16 to 26 metres, associated with vuggy silica and pyrite, reporting an average of 0.68 g/t gold over the 10 metres.

Drill hole DDHW-005-2023 was drilled to a depth of 80.20 metres to intersect from surface the silicified zone sampled in trench 17. This drill hole intersected a zone of gold-bearing vuggy silica with disseminated pyrite from a depth of 0.53 to 6.35 metres, reporting an average of 0.87 g/t gold over the 5.82 metres.

Drill hole DDHW-002-2023, drilled to intersect the down dip extension of the silicified rocks found in drill hole DDHW-001-2023, intersected a zone of advanced argillic alteration with anomalous gold mineralization from 17.80 to 21.25 metres.

Drill hole DDHW-004-2023, drilled to a depth of 60.50 metres to intersect the gold mineralization below trench 17, intersected a zone of faulting with anomalous gold.

The shares are trading at $0.035. For more information, please visit the company’s website, www.LuckyMinerals.com, contact Francois Perron, President and CEO, at 866-924-6484 or by email at investors@LuckyMinerals.com. Investor Relations is handled by Kerry Schacter at Renmark Financial who can be reached at 416-644-2020 or by email at KSchacter@renmarkfinancial.com.

About InvestmentPitch Media

InvestmentPitch Media leverages the power of video, which together with its extensive distribution, including a news release service, to position your company’s story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers information only. Lucky Minerals has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

CONTACT:
InvestmentPitch Media
Barry Morgan, CEO
bmorgan@investmentpitch.com 

FAQ

What did Lucky Minerals announce on February 8, 2023, regarding LKMNF?

On February 8, 2023, Lucky Minerals announced significant gold mineralization findings during its initial drill program at the Wayka Project in Ecuador.

What are the drill results for LKMNF's Wayka Project?

Drill hole DDHW-001-2023 intersected 0.64 g/t gold over 7 meters, and DDHW-003-2023 showed 0.68 g/t gold over 10 meters, with further results indicating continuity of mineralization.

How large is the Fortuna property owned by Lucky Minerals?

The Fortuna property, owned by Lucky Minerals, covers 550 square kilometers or approximately 55,000 hectares.

What is the current trading price for Lucky Minerals shares?

Lucky Minerals shares are currently trading at $0.035.