Results from rock chip samples confirm the alteration area has anomalous gold with samples up to 1.6 grams per ton gold
Inc () (OTCPINK:LKMNF) on Tuesday announced the outlining of the Sherman Prospect, an area of significant quartz veining in Ecuador.
Sherman lies approximately 6.6 kilometers (km) southwest of the Emma Prospect and results from rock chip samples confirm the alteration area has anomalous gold with samples up to 1.6 grams per ton (g/t) gold.
“The team has outlined another significant prospect at Sherman,” said CEO Francois Perron in a statement.
“We are still in the early days of understanding how the gold is related to a set of veins that are being uncovered. What is important is not only the scale of size, of 20 km2 but also the evidence of the presence of gold. I am very excited that our first campaign in this area has already confirmed enough potential to warrant more exploration work in the future. Our COVID-19 health & safety protocols continue to allow the team to be effective in the field.”
READ: Lucky Minerals outlines ‘exciting’ Emma prospect at the Fortuna 4 concession
Lucky Minerals said Geological outcrop mapping has outlined a large area ranging from 1 millimetre (mm) up to 2 meter-wide quartz veins with fine disseminated pyrite. The 1mm-wide quartz veinlets are generally hosted in schistose rocks of probable Paleozoic age, and the wider quartz veins are mostly hosted in a meta-granite of Triassic age. These quartz veins have been observed to either follow the rock foliation and/or cut across it.
One rock chip sample taken across a length of 1.0 m in weathered schists containing 1 mm-wide quartz veinlets returned 1.66 g/t gold. Though only one sample, the company is exploring the possibility that these thin quartz veinlets may in greater number point to a larger target. Additionally, another rock chip panel sample taken approximately 8m from the above sample returned 0.102 g/t gold.
The company said more detailed geological fieldwork will continue in order to examine the mineralization potential in both schists and meta-granites, particularly as they relate to both stockwork and quartz vein type mineralization.
All rock samples are submitted to ALS Chemex laboratories in Quito for prep work, and the analytical work is completed at their lab facility in Lima, Peru. ALS Chemex is an ISO certified and accredited laboratory. QA/QC protocols are in place and include the insertion of a coarse blank, a standard and a duplicate sample on every batch of 25 samples.
Lucky Minerals also has engaged the services of the Independent Trading Group Inc as its issuer designated market maker for its shares on the TSX Venture Exchange and other trading platforms. Lucky Minerals has agreed with ITG for an initial trial period of up to 90 days for $15,000 which can be extended thereafter for a cost of $5,000 per month.
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