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Lucky Minerals shares advance as it reveals start of exploration at Fortuna concessions

The company is planning an exploration program, expected to kick off soon

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The company reported on progress in Ecuador

Lucky Minerals Inc (CVE:LJ, OTCQB:LKMNF) is planning an exploration program, expected to kick off soon on its Fortuna concessions in Ecuador, the company told investors, sending shares higher.

Kilometric alteration and breccia zones have been delineated following reconnaissance field visits last January and February.

Satellite imagery has confirmed results from those surveys and four zones of interest in Fortuna 3 have been outlined measuring around 1 sq km each.

Detailed mapping and sampling of these four areas will be undertaken starting in the middle of this month (July), which will be followed by an airborne geophysical survey in September in a bid to identify and prioritize additional targets in all 12 Fortuna concessions.

Lucky also said that in addition, artisanal mining activities have been recorded in the southern part of the property where tunneling activities have been reported.

These recently discovered tunneling activities in hard rock will also be subjected to detailed mapping, sampling and assaying.

Numerous placer gold artisanal mining activities have also been noted in the Southern concessions.

Fortune consists of 12 contiguous concessions totaling around 54,985 hectares (550 sq km) and is on similar trending structures as Lundin Gold's Fruta del Norte project, which has 9.48mln ounces of the yello metal (indicated and inferred).

In the neighbourhood is also SolGold's Cascabel project, at 7.4mln tonnes of copper equivalent, and China National Rail Mirador project, at 2.7mln ounces gold and 5.9bn pounds of copper (measured and indicated) deposit.

Also today, Lucky Minerals said that it had submitted all the necessary documentation to the TSX Venture Exchange related to the acquisition of Goldmindex SA, the owner of the Fortuna project concessions.

Lucky Minerals shares in Toronto are up 10% to C$0.11.

Quick facts: Lucky Minerals Inc

Price: 0.22 CAD

TSX-V:LKY
Market: TSX-V
Market Cap: $10.2 m
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