Lucky Minerals Inc. announced it continues geological mapping, trenching and channel sampling at the Wayka epithermal gold discovery at its 100% owned 55,000 hectare Fortuna Property in Ecuador. Wayka lies along an elevated ridge that trends northeast with elevations ranging from approximately 3,600 metres to 3,700 metres above sea level and is bound to the East by the El Buitre Porphyry and to the West by the Emma Porphyry. Channel 20 returns 1.04 g/t gold across 13 metres in the Kelly Zone.

This new channel was designed to follow up Trench 12 which was previously reported (see News Release - October 25, 2021) with an average of 1.21 g/t gold across 10 metres. Trench 12 was oriented in a northeast direction which is the general trend of many structures in the area. Channel 20 was completed to cut across the structure, where outcrop availability makes it possible.

Rock saw channel sampling was completed within a breccia zone with subrounded to subangular fragments comprised of mostly altered dacite, some remnant fragments of meta-granite and schist in a silica-limonite matrix, with mainly silicified and advanced argillic altered fragments. It lies within a large breccia structure measuring, based on outcrop availability, at least 60 metres by 25 metres, and remains open in all directions with a general trend to the northeast. Furthermore, Channel 20 remains open in both directions.

Please see below a sample and assay table as well as a trench geology and sample location map. Both Channel 20 and Trench 12 lie within a breccia zone that coincides with a mag low. Below is a map of an aerial photo that is overlain by an image showing a mag low (blue area).

This map includes the location of Channels 15, 20 and Trench 12. It also shows the interpreted size (to date) of the breccia zone (area within dashed red lines) of approximately 60 metres by 25 metres, and which remains open in all directions. Also shown are proposed channels P-1, P-2 and P-3 which is an extension of Channel 15 to the northwest.

The location of this breccia zone which coincides with a magnetic low is significant, even more so by the fact that these breccias do carry gold. The low mag anomalies result from the passage of hydrothermal fluids through rocks which destroy magnetite and cause the low magnetic signatures. The fluids alter the rocks producing alteration zones such as silicification and advanced argillic altered rocks which have identified in the Kelly breccia zone.