Lucky Minerals has commenced exploration programme at the Fortuna project, located in southern Ecuador.

The company has 100% stake in Fortuna that consists of 12 concessions, which cover approximately 550km², made of a single contiguous block.

The Fortuna project has potential to host three types of gold mineralisation including epithermal, orogenic, and placer gold in addition to copper-gold porphyry systems.

Primary objectives of the programme are follow-up work of anomalous areas and reconnaissance on the Fortuna 8, 9, and 10 concessions in the northwest, and the Fortuna 11 and 12 concessions in the southern region of the concession area located in the provinces of Zamora Chinchipe and Azuay.

Lucky CEO Adrian Rothwell said: “To date geological fieldwork has identified several possible volcanic hosted epithermal type gold targets in the northwestern section on the Fortuna 8, 9 and 10 concessions.

“Subject to the success of this program, we look forward to conducting ground IP/resistivity geophysical surveys and soil sampling in order to define potential drill targets this year.

“Other priority exploration work now underway is to confirm the occurrence of orogenic type gold mineralization along a metamorphosed Paleozoic belt known in Ecuador as the “Cordillera Real” (Fortuna 11 and 12 concessions).”

Lucky to undertake surface geological mapping and sampling work

As part of exploration programme, Lucky plans to undertake surface geological mapping and sampling with focus on mapping areas of alteration and taking rock samples.

The work also aims to locate the source of the recently observed gold mineralisation in the Shincata River regions as well as define areas for follow-up ground geophysics, trenching and ultimately drill targets.

Lucky Exploration Manager, Victor Jaramillo, stated “This Paleozoic belt is comprised of mainly slates, quartzites, phyllites and granitic intrusions.

“These rocks have similar geological characteristics to the Paleozoic belt located in northern Peru, which continues into southern Peru and into Bolivia and is known to host orogenic type gold deposits within the “Cordillera Oriental”.”