Soil Sampling Outlines Two Large Anomalous Gold Areas at Wayka

Rhea-AI Summary

Lucky Minerals Inc. has reported significant geochemical results from soil sampling at its Wayka gold discovery in Ecuador, covering a grid area of 2.44 km². A total of 1,027 soil samples were analyzed, revealing two large anomalous gold areas, with 37% of samples found to be anomalous. The strongest anomaly measures approximately 700 x 400 meters, showing values up to 1.43 ppm gold. CEO François Perron expressed excitement about the findings, highlighting the potential for further exploration and upcoming drilling efforts. QA/QC protocols were followed during sample analysis.

Positive

• Identified two large anomalous gold areas at the Wayka project, enhancing exploration potential.
• 37% of sampled soils showed anomalous gold levels, indicating strong mineralization.
• Upcoming drilling program planned for 3,000 meters based on systematic exploration work.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / March 15, 2022 / Lucky Minerals Inc.(TSXV:LKY)(OTC PINK:LKMNF)(FRA:LKY) ("Lucky" or the "Company") is pleased to announce it has received soil sample Geochem results from its ongoing work at the Wayka high sulfidation epithermal gold discovery at its 100% owned Fortuna Property ("Fortuna") in southern Ecuador.

A total of 1,027 soil samples were taken along a 50 x 50 meter grid at Wayka. The total grid area covered approximately 2.44 km². A total of 191 soil samples were assayed at ALS Chemex Labs and 836 soil samples were assayed at Bureau Veritas Labs. All Geochem results have been received and two large anomalous gold areas in the northern section of Wayka have been outlined.

Large area of anomalous gold identified

For gold in soils, a threshold value of 0.020 ppm was determined. Samples in the survey included values ranging from 0.001 up to 1.43 ppm gold. Approximately 37% of the samples were found to be anomalous covering an area of approximately 1.19 km².

Some trenches coincide with anomalous soil samples

Current trenching work has focused around three areas.

The areas including T5-T6 (reporting 61 meters at 1.67 g/t gold, please see press release November 9, 2021) and the area including T12 (reporting 10 meters of 1.21 g/t gold, please see press release October 25, 2021) were both in anomalous areas with values above the threshold but below 0.084 ppm gold. The area including trench T2 (reporting 27 meters of 1.91 g/t gold, please see press October 7, 2021) was not anomalous based on the soils sampled other than immediately where the trenches were dug.

Two new areas of anomalous gold identified

Anomalous area "A" (strongest anomalous gold area) measures approximately 700 x 400 meters and lies approximately 950 meters NE of trenches 5,6 and 14. Soil gold values in this area range from 0.035 up to 1.43 ppm gold. Please see map below.

Anomalous area "B" measures approximately 425 x 300 meters and lies approximately 540 meters NNW of trenches 5,6 and 14. Soil gold values in this area range from 0.031 up to 0.19 ppm gold. Please see map below.

Gold Soil Geochem Map of Wayka

François Perron, CEO of Lucky Minerals comments "The potential at Wayka continues to increase in scale. We are very excited at following up the mineralization identified in the trenches. At the same time, the systematic exploration work that the team is doing is providing for potential targets that will be considered in our drilling program. The scale of the system appears to be getting larger and I look forward to reporting on the balance of the team's pre-drilling fieldwork as it is completed."

Wayka - Next Steps

Field work, including targeting, continues in preparation for the upcoming first 3,000-meter phase of drilling.

Targeting will be informed by the following:

1. Soils (just completed);
2. Alteration mapping of Wayka project area (in compilation);
3. geophysics (just completed, finalizing inversions);
4. trenches (ongoing);
5. Structural analysis of Wayka area (ongoing);
6. Prospecting on anomalous areas.

Preparation work for mobilization of drilling equipment is underway.

QA/QC Protocols

All exploration work is completed following QA/QC protocols and include the insertion of a coarse blank, a standard and duplicate sample on every batch of 25 samples.

A total of 191 soil samples were submitted to ALS Chemex Labs in Quito for preparation work, and the analytical work was completed at their lab facility in Lima, Peru. ALS Chemex is an ISO certified and accredited laboratory. A total of 836 soil samples were submitted to Bureau Veritas Labs in Quito for preparation work, and the analytical work was completed at their lab facility in Lima, Peru. Bureau Veritas is an ISO certified and accredited laboratory.

Further analytical results will be released as they are received.

ON BEHALF OF THE BOARD

"François Perron"
Chief Executive Officer

About Lucky

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.

The Company's Fortuna Project is comprised of twelve 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.

Covid-19 Safety Protocols

Lucky has strict rules in place for all workers arriving to and from field sites. All personnel are tested upon arriving and leaving and are tested every two weeks. All personnel are following COVID protocols with permanent disinfection procedures in place and are following correspondent social distancing while being isolated from the surrounding communities.

Qualified Person

Victor Jaramillo, M.Sc.A., P.Geo., Lucky's Exploration Manager and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Fortuna Project for Lucky Minerals and has reviewed and approved the technical information contained in this news release.

Further information on Lucky can be found on the Company's website at www.luckyminerals.com and at www.sedar.com, or by contacting Francois Perron, President and CEO, by email at investors@luckyminerals.com or by telephone at (866) 924 6484.

Or by contacting:

Renmark Financial Communications Inc.
Kerry Schacter: kschacter@renmarkfinancial.com
Tel: (416) 644-2020 or (514) 939-3989
www.renmarkfinancial.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Adjacent Properties and Forward-Looking Information

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such factors include, but are not limited to: uncertainties related to exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labor relations matters. This list is not exhaustive of the factors that may affect the Company's forward-looking information. Important factors that could cause actual results to differ materially from the Company's expectations also include risks detailed from time to time in the filings made by the Company with securities regulators.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will not update or revise publicly any of the included forward-looking statements unless required by Canadian securities law.

SOURCE: Lucky Minerals Inc.

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FAQ

What were the main findings from Lucky Minerals' March 2022 press release regarding soil sampling?

Two large anomalous gold areas were identified at the Wayka project, with 37% of soil samples showing anomalous gold levels.

What is the significance of the soil sampling results from the Wayka project for LKMNF investors?

The results indicate strong mineralization potential, which could drive future exploration and potential increases in stock value for investors.

How many soil samples were analyzed in the Lucky Minerals press release dated March 15, 2022?

A total of 1,027 soil samples were analyzed in the geochemical survey.

What are the next steps for Lucky Minerals following the soil sampling results?

Lucky Minerals plans to conduct a 3,000-meter drilling program informed by recent soil sampling and other geological work.

What is the significance of the gold values found in the soil samples?

Gold values ranged from 0.001 to 1.43 ppm, with the highest being in the newly identified anomalous areas, indicating potential for economic mineralization.