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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.
Lucky Minerals Inc. (OTC PINK:LKMNF) announced the discovery of significant gold mineralization from its initial drill program at the Wayka Project, totaling 384 metres. The first five drill holes yielded notable results: 10 metres at 0.68 g/t (DDHW-003), 7 metres at 0.64 g/t (DDHW-001), and 5.82 metres at 0.87 g/t gold (DDHW-005). CEO François Perron highlighted the potential to find high-grade gold structures with further drilling. The project, located in Ecuador, follows successful trench results previously reported. Continuous drilling aims to deepen the understanding of the epithermal gold system. Results will be released as they are received.
Lucky Minerals Inc. (OTC PINK:LKMNF) announced a non-brokered private placement of up to 12,500,000 units priced at $0.056 each, aiming to raise approximately CDN $700,000. The units consist of common shares and three-year purchase warrants. Prominent investor Michael Gentile will maintain a 19.9% stake in the company. Proceeds will support drilling at the Fortuna Project in Ecuador and general working capital. This offering, subject to TSX Venture Exchange approval, includes related party transactions exempt from certain shareholder approval under MI 61-101. A material change report will follow.
Lucky Minerals Inc. has received conditional approval from the TSX Venture Exchange for a service agreement with Hubbard Drilling. The agreement will result in the issuance of 4,252,891 common shares at a deemed price of $0.05 per share, totaling CDN$212,645. These shares are subject to a four-month hold period. Lucky Minerals is focused on exploring large-scale mineral systems and fully owns the Fortuna Property, part of a promising gold belt in southern Ecuador.
Lucky Minerals Inc. has announced ongoing geological work at the Wayka epithermal gold discovery on its Fortuna Property in Ecuador. The Kelly Zone has shown promising gold values, with channel sample C-21 returning 0.46 g/t gold over 25 metres, including 0.98 g/t gold over 11 metres. A mineralized breccia has been confirmed, extending over a 100-metre strike length. Additional assays are pending from ongoing fieldwork, indicating potential for further discoveries. The company is committed to following strict QA/QC protocols, ensuring the integrity of its exploration results.
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