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Feature article December 7, 2018:

 

Lucky Minerals Advancing Prime Ground in Ecuador Proximal Fruta del Norte and Mirador

 

Lucky's Fortuna Project is highly prospective for large Copper & Gold discovery in a prolific mineral belt, among world-class neighbors.

     

Lucky Minerals Inc.

(TSX-V: LKY) (OTCQB: LKMNF) (Frankfurt: 8LM)

 

Share data, Capitalization, & Corporate info

 

 Shares Outstanding:  ~130 million

(is where we expect numbers to shake out post recent financing and post 100% Ecuador acquisition)

 

 Fully Diluted:  ~155M (estimate)

 Recently Traded: ~CDN$0.14/share (TSX-V: LKY)

 52 Week High/Low: $0.21/ 0.09

 Current Market Capitalization: ~$18 million Canadian

 Corporate Website: www.luckyminerals.com

 

LJ.V possesses two flagship assets:

 

  • Fortuna Au-Cu Project, Ecuador; 100% owned, situated on similar NNE-trending geological structures as neighboring Fruta del Norte and Mirador.

  • Emigrant Creek Cu-Au-Mo Project, Montana; 100% owned, Potential multi-million oz gold potential in ~2 billion+ Tonne porphyry system target with 10 highly mineralized breccia-pipes.

  • Experienced management, skilled technical leadership.

Lucky Minerals is in a similar place to where neighboring then Aurelian Resources was before it made its discovery. The story of Aurelian Resources is one of the best known among junior gold investors, its share price went from $ 0.60 to $ 40 within a few months, just over a decade ago, upon its initial gold discovery of what is now Fruta del Norte.  Aurelian’s geologists used a methodical approach; zeroing-in on the gold source via stream sampling, in combination with classic geological mapping, soil sample analysis, geophysical methods, all leading to targeted exploration drill holes. Lucky Minerals Fortuna Project has similar NNE-trending geological structures as Aurelian’s fault zone that is the structural element that controls the occurrence of gold mineralizations that are literally lined up along the fault. Luck Minerals is looking to repeat the success of Aurelian on its Fortuna Property fault zones, which share the same genesis as Fruta del Norte, using a similar methodical approach that appears bound to zero-in on highly prospective targets. As robust data pours in from exploration efforts over the second half of 2018 on Fortuna, evidencing large gold and copper potential, we expect shares of LJ.V to rise. - Market Equities Research Group

 

   

Valuation Commentary: Lucky Minerals Inc. (TSX-V: LKY) (F: 8LM) (OTCQB: LKMNF) is highly prospective for major gold and copper discovery as it advances its 100%-owned Fortuna Project in Ecuador, located in a prolific mineral belt ~40km from Lundin Gold's Fruta del Norte (9.48 M oz Au I+Inf) deposit and the Mirador (2.7 M oz Au and 5.9 B lbs Cu M+I) deposit. Lucky's Fortuna concessions are newly acquired from a private company that essentially sat on coveted prime ground for well over a decade as discoveries were made surrounding it. The project is ripe for discovery of significance having received no modern exploration or drilling; geological interpretation and historical sampling (up to 10,5 g/t Au + numerous Cu anomalies in stream sediment) suggest potential for massive Gold & Copper system beneath. Two major NNE-trending geological structures laden with calderas cut through Lucky's Fortuna Project, similar NNE-trending structures intersect neighboring Fruta del Notre, Mirador, Loma Larga, and others. This 2018, Lucky Minerals has defined a mineralized porphyry system; the project is highly prospective for major discovery -- Lucky is now in the center of what could be a Tier 1 discovery. 50 samples from the system are now in the lab.

  

Figure 1a. (below) Location map of Fortuna proximal multi-million oz neighbors, superimposed orange color represents geological NNE-trending structures.

 

Historically, prior to Lucky Minerals this 2018, only limited sporadic rock sampling with no follow-up on anomalies has occurred on the property.

 

Anomalous high concentrations of gold have been identified over several areas; stream sediments, rock, and non-systematic soil sampling suggest multiple gold and copper mineralized systems with bulk tonnage targets. Historic gold placers, known in the region since the Inca days, are related to local river headwater in the central north of the Fortuna property, which with most of its tributaries flows through.

 

Lucky Minerals has defined a mineralized porphyry system

 

Highly prospective for major discovery; Lucky is now in the center of what could be a Tier 1 discovery. 50 samples are now in the lab.

 

Initial exploration efforts this 2018 involving geological reconnaissance mapping surveys and surface prospecting has defined a mineralized Porphyry system that displays an ovoid shape being 1.2 km long, with an estimated width of 800 metres. This structure is trending north-west and lies on the junction of two regional NNE and NW structures. Main lithologies are a porphyritic dacite surrounded by a coarse-grained granodiorite. The porphyritic dacite is of light green colour having 5% phenocrysts within a fine feldspar matrix. The granodiorite is of white-green colour containing 30% white quartz crystals, 45% potassic feldspar and 25% biotite. Both rocks exhibit strong hydrothermal alteration and mineralization (Pyrite, Chalcopyrite and Molybdenite). In addition, two mineralized hydrothermal breccias were also mapped with abundant pyrite. The breccia consists in porphyritic clasts within an oxidized matrix. These breccias have, respectively, a minimum dimension of 400m by 50m, and 200m by 50m. Lucky’s exploration team believes that this current mapping programme has defined a large-scale Porphyry system that will subject to detailed mapping in the coming weeks. 50 mineralized samples have been sent rush for assaying (see related November 27, 2018 news release "Lucky Minerals Defines A Mineralized Porphyry System On Its Fortuna 3 Concession Project In Ecuador").

  

 

Figure 1b&c. (below) preliminary model of porphyry systems identified within Fortuna 3 concession (left) and mineralization vectorization (right)  -- Note NNE-trend of geological structure interpretation...

 

 

Using a proven systematic exploration approach (geophysics, remote sensing, alteration and volcano features mapping, structural analysis, and soil sampling over selected anomalies) Lucky Minerals Inc. expects to take the property to target-ready drill status in short order (see 2018 Phase I and 2019 Phase II exploration plans further below), highly prospective for discovery -- the board and technical team are actively hunting elephant deposits here in Ecuador.

 

Completely new high-caliber board and skilled technical team: The decision to acquire Fortuna was made by the new board of directors and technical team following a complete restructuring/changing of the guard (~1 year ago) at Lucky Minerals. The new board and technical team was first attracted to LJ.V because of the geologically compelling nature of the Company's other flagship asset, the 100%-owned Emigrant Creek Cu-Au-Mo Project in Montana, which has multi-million oz gold potential in ~2 billion+ Tonne porphyry system target. To date 10 highly mineralized breccia-pipes have been located. The Montana property is a significant asset that adds inherent value on its own as it is potentially amenable to bulk underground mining; compelling drilling results include 132m of 2.1 g/T gold and 50m of 14.37 g/T gold. It was decided that with the long road to permitting in Montana and seasonal aspect, it was best to diversify the Company and focus to take advantage of the unique opportunity presented in Ecuador, which allows for year-round advancement and will expose shareholders to incredible upside share price appreciation potential when the technical team first drills to expose targets it is expected to delineate this coming H2-2018 exploration session.

 

A high-quality board was assembled along with a strong technical team; e.g.: The head of the technical committee is Guy Lauzier, B. Eng who is the General Manager of Nemaska Lithium's Whabouchi Mine. On the board are notable names such as Joao Carêlo, who was the COO of Lundin for several years, and Stuart Greene; a Geo and former Director of RMB Resources, which is essentially First Rand Bank's investment arm in London. See full CV's of all Directors and Technical Advisors at the bottom of this article.

 

The following is an overview of the Lucky's two flagship projects, of which the Fortuna Project is the immediate focus of exploration efforts.

  

1) Fortuna Gold-Copper Project, Ecuador - 100%-owned

 

The Fortuna project exhibits many similarities with significant epithermal gold and Cu-Mo porphyry deposits.

 

Click to view video overview of Fortuna Project [running time 3 min. 57 sec.]:

 

 
   

Figure 2. (above) Location map - surrounded by multi-million ounces gold and billion lbs polymetallic properties.

Fortuna is an early stage exploration project strategically located in the South-Central part of Ecuador, about 50 km South-East of the major town of Cuenca. The project is comprised of 12 contiguous concessions totaling ~54,985 Ha (550 km2).

 

In the Heart of Elephant Country

 

Fortuna is surrounded by many multi-million ounces gold and billion lbs polymetallic properties:

 

   • Lundin Gold (V-LUN) Fruta del Norte

     (9.48 M oz Au I+Inf)

 

   • Sol Gold (T-SOLG) Cascabel

     (7.4 M tonnes CuEq)

 

   • Lumina Gold (V-LUM) Cangrejo

     (8.8 M oz Au +1.1B lbs Cu Inf)

 

   • INV Metals (T-INV) Loma Larga

     (3.09 M oz Au +125 M lbs Cu I+Inf)

 

   • China National Rail Mirador

     (2.7 M oz Au and 5.9 B lbs Cu M+I)

 

This is not a story of a rehashed project, the Fortuna Property is untapped in exploration potential, and one of the most exciting ventures unfolding in South America.

 

The Fortuna concessions have had placer mining for gold since the Inca times, however have never seen modern exploration applied, only being sporadically explored for gold since the 1990’s.

 

Reconnaissance work and basic geochemistry surveys have identified many geological features associated to large epithermal gold and porphyry deposits.

 

The concessions have never seen any drilling.

 

Region

 

Figure 3a. & b. (above) map of Ecuador - Image seen to the right above shows porphyry copper deposit tracts by density of mean estimated undiscovered copper Mt/km2 in the Andes. Fortuna concessions are located in tracts between 600 and 1000 Mt Cu/km2.

 

Ecuador -- stable and mining-friendly

 

Ecuador is in the midst of a mining investment renaissance and considered one of the hottest mining investment destinations right now; recent news of the world’s largest miner BHP (ASX, NYSE:BHP) (LON:BLT) having bought a 6.1% stake in Ecuador-focused explorer SolGold (LON:SOLG) (TSX:SOLG) for $35 million has signaled strong confidence in the region.

 

A new stable geopolitical environment since 2015 has spurred investments from major companies and revived interest in the country.  FX controls were eliminated in January 2016 and in 2017 Ecuador was named “Country of the Year” at Toronto Mines & Money Show. Ecuador's new President, Lenin Moreno, has reconfirmed the governments support of mining in 2018. The Mirador copper project commenced construction in 2015. Lundin Gold reached an agreement with the government in December 2016, allowing for the Fruta del Norte project to proceed. Several public companies are actively advancing projects at various stages of development; e.g...

 

• Lundin Gold Inc. TSX:LUG Fruta del Norte; construction on track with first gold pour anticipated in Q419.

• SolGold TSX:SOLG Cascabel in exploration, the Company is systematically exploring Cu-porphyry opportunities (Alpala, Aguinaga) and other priority and highly prospective targets. A PEA is expected in H218.

• Lumina Gold Corp. TSXV:LUM Condor/Cangrejos at resource. Finalizing significant earn-in agreements with First Quantum and Anglo American on exploration concessions. Cangrejos PEA is anticipated Q218.

• Cornerstone Resources TSXV:CGP Cascabel in exploration.

• Aurania Resources Ltd. TSXV:ARU Cutucu in exploration & announced a $4 million PP this June-2018.

• INV Metals TSX:INV Loma Larga in construction, permitting anticipated 3Q18, 1.3 km of development to provide access to mineralization.

• Core Gold Inc. TSXV:CGLD Dynasty in operation/development.

• Salazar Resources Ltd. TSXV:SRL Curipamba in exploration.

• Toachi Mining TSXV:TIM La Plata in exploration.

• Lucky Minerals Inc. TSXV:LJ Fortuna in exploration.

 

A June 1, 2018 field report by PI Financial mining analysts, regarding their recent (Q2-2018) site visit to several Ecuador mining projects prompted the following take-aways about Ecuador in a synopsis entitled "Turning the Corner Offering Untapped Potential":

 

• Fast finding favour as an attractive mining investment destination in South America, offering untapped exploration upside.
• Majors (Newcrest Mining, Anglo American, Fortescue Mining, First Quantum, and BHP) actively seeking investment opportunities in juniors with significant land packages along mineralized trends.
• US$4B in mining investments expected by 2021.
• Good Infrastructure, cheap power and a willing workforce.

  

The Fortuna Concessions

 

Figure 4. (above) - The Fortuna Concessions.

 

Infrastructure: The area is basically uninhabited with trails running throughout the concessions. A paved road runs up to the property. Power lines are within 10km of the property border. There is abundant water available for exploration, and a readily available workforce nearby.

 

History

 

1992-2017 Exploration work

- 1992-2000

   ✓ Reconnaissance prospecting of property.

   ✓ Discovery of extensive mineralization and alteration zones.

   ✓ Up to 10,5 g/t Au in stream sediment.

 

- 2007-2017

   ✓ Identification of major structures.

   ✓ Reconnaissance geochemistry sampling.

   ✓ Numerous Cu anomalies reported in stream sediment.

 

 

Figure 5 (above) High potential to host porphyry CuAu deposits  -- Seen in the image above is an area (Culebrillas-El Buitre) which has seen a small amount of preliminary exploration work. There is pervasive hydrothermal alteration, Cu & Mo geochemical anomalies, younger felsic porphyry intrusives, Cu oxides in the different units and the presence of secondary pyrite in the altered rocks, important structures as a shear zone have been identified, and there is the existence of hydrothermal breccias.

 

Figure 6 (above) Highly anomalous gold in geochem samples -- There exists strong potential to host sulphidation epithermal gold deposits. Historic work recognized many high stream sediment gold anomalies (up to 10.5g/t Au) and anomalous Au values in rock and soil sampling. Several clusters of stream pan concentrate samples identified fine gold. Gold placer mining activity is taking place in neighboring concessions.

 

Lucky Minerals' Fortuna Project checks all the right boxes for similarity with other systems:

 

Feature

Cu Porphyry

Epithermal Gold

Fortuna Concessions

Caldera like structures

 

Multiple intrusions and dykes of diorite to quartz monzonite

 

Inner Quartz-Sericite alteration

 

Outer Epidote-Chlorite alteration

 

Fractures filled with sulphides

 

Hydrothermal breccia

 

Copper and Molybdenum minerals

 

Volcanic pyroclastic rocks

 

Advanced argillic alteration

 

Pervasive silicification

 

Pyrite

 

 

Table 1 (above) Fortuna shares similarities with other systems.

 

NNE-trending geological structures that controlled mineralization

 

The line of fire of development of volcanoes are along this NNE trend. The majority of actual deposits are located along these structures. The Fortuna concessions represent the most hotly anticipated new development in Ecuador’s prolific gold and mineral belt.

 

Figure 7. (above) NNE-trending geological structures -- A major NNE-trending geological structure laden with calderas cuts through Lucky's Fortuna Project, similar NNE-trending structures intersect neighboring Fruta del Notre, Mirador, Loma Larga, and others.

 

Figure 8a. (above) - Exploration targets on Fortuna -- Using satellite imagery and remote sensing, a series of major structures cut through the Fortuna concessions. The technical team has software able to identify major structures. The targets are related to caldera, dome, and vent volcanic structures.

 

FYI: Ecuador has the second largest concentration of volcanoes per square foot than any other country in the world (second only to Iceland).

 

Alteration zones have been identified with satellite using NASA/USGS AI-algos that were trained/refined on major deposits worldwide -- Fortuna lights up like a Christmas tree:

 

Figure 8b & 8c -- AI-algo identified alteration zones. Identified using NASA/USGS satellite technology. Note: On the most Southern concession the satellite did not pick up anything due to heavy forest cover but Lucky Minerals' geologists have identified significant artisanal mining activities which are now understood to be present in several locations in Fortuna 11 and 12 concessions. This coincides with some major targets Company geologists identified through earlier structural work on major trends.

 

Lucky Minerals Exploration Update

 

Excerpt of October 16, 2018 Company release:

 

Lucky Minerals Inc. identifies two mineralized Porphyry systems with anomalous Cu-Mo values on its Fortuna Project in Ecuador

 

Vancouver, B.C. October 16, 2018 – Lucky Minerals Inc. (TSX.V: LKY) (OTCQB: LKMNF) (FRA:8LM) (“Lucky” or the “Company”) is pleased to announce the results of a geological reconnaissance mapping survey conducted on its Fortuna Project located approximately 60 km south-east of Town of Cuenca, Ecuador. Prospecting and mapping were undertaken based on prior structural and enhanced alteration mapping studies using satellite imagery which were conducted in May/June 2018. Results from these studies led to the identification of 4 high prospectivity areas (A to D) covering 8 km2 in the Fortuna 3 concession.
 

Image 1 – Partial View of Area A.

 

 

Subsequent prospecting and mapping of Area A (2 km2) (Image 1) resulted in the discovery of two porphyry systems with approximate dimensions of 1.2 km on strike by 300m wide. A pluri-kilometric oxidation blanket composed of silica, limonite, jarosite and hematite surrounds the two porphyry systems.
 

Image 2 – Oxidation Blanket Vectorization

 

 

Preliminary assessment of these two porphyry systems using major elements calculations is confirming field observations with an extensive potassic signature enrichment including an outer shell of pyrite mineralization typical of phyllic alteration that has been traced for more than 300m. Lucky’s exploration team believes that these two porphyry systems may in fact form one single doughnut shaped body measuring approximately 2km in diameter.
 

Image 3 – Preliminary Model.

 

 

Saw sampling over the area outlined quartz monzonite rocks with pyrite and oxidized pyrite being the dominant sulphide mineral along with minor Chalcopyrite, Chalcosine, Molybdenite and Malachite (Oxide). 176 samples were sent to MS Analytical lab- oratory including 15 control samples for major oxides and ICP multi-element as- says; multi-elements results are pending.
 

Image 4 – Mineralization Vectorization

 

 

Next Steps
 

Lucky’s immediate next steps to advance exploration on the property will be an airborne magnetics combined with radiometry survey with 3D inversion, improving the existing dirt road and trails to an all-weather 14 km gravel road, to be followed by an aggressive grid-style comprehensive sampling program along the two identified porphyry systems on Fortuna 3 as well as regional prospecting on the 40 km major regional NNE structure and other major regional NNE trending structures observed on the property. This may be followed by a drilling program in 2019. Fortuna 3 is one of 12 contiguous concessions which make up the Fortuna Property which has seen virtually no exploration and where considerable potential exists for finding significant porphyry and epithermal Cu-Au mineralization. It should be noted that no field work has been undertaken yet by Lucky and limited historical work was performed on the remaining 11 Fortuna concessions.
 
Quality control
 

Rock samples on the project were assayed by standard 30 grams fire-assaying with AA finish for gold, four acid ICP-OES for multi-elements (including Cu and Mo) and XRF for major elements (oxides) at MS Analytical in Vancouver, BC. Ex- ploration program design and interpretation of results is performed by a qualified person (QP) employing a Quality Assurance/Quality Control program consistent with industry best practices, including the use of standards at every 10 samples.
 

Lucky is very pleased by the results of this summer 2018 reconnaissance explo- ration program and will continue to characterize in more details the two identified porphyry systems and aggressively exploring and prospecting other targets on Fortuna 3 as well as on the 11 remaining concessions of its Fortuna Project.
 
About Lucky
 

An exploration and development company targeting large-scale mineral systems in proven districts with the potential to host world class deposits.
 
The Fortuna Project
 

Lucky Minerals holds a 100% interest in Fortuna, a 550 km2 property in the heart of a proven and highly mineralized mineral district in Ecuador but which has seen only limited exploration and has never been drilled.
 

Evidence of significant hydrothermal alteration & breccias, geochemical anomalies and placer mining supports potential for Cu/Au porphyry systems and epithermal Au deposits similar to numerous multi-million-ounce Au and bulk tonnage Cu deposits ~40km away.

The Emigrant Creek Project
 

Covers a 15 km2 area in an intensely altered and mineralized porphyry copper- gold-molybdenum system in southern Montana.
 

Nine highly mineralized breccia-pipes and two porphyry targets are known to exist within the company’s claims and have been variously explored by drilling, induced polarization geophysical surveys, rock chip sampling and geologic & alteration mapping.
 
This press release has been prepared by Alain Moreau, P.Geo., VP-Exploration at Lucky Minerals Inc., a “qualified person” as defined by NI 43-101 instrument. For further information, please consult Lucky’s website or contact:

ON BEHALF OF THE BOARD
John Mears
Chief Executive Officer

Further information regarding can be found on SEDAR at www.SEDAR.com.

Tel.: 866 924-6484 Website: www.luckyminerals.com  Email: info@luckyminerals.com
 
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is de- fined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Lucky’s periodic reports including the annual report or in the filings made by Lucky from time to time with securities regulatory authorities.

We seek safe harbor.

...click here for full copy from source

 

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Lucky Minerals' Plans at Fortuna

 

2018

Near term financing of US$1M for the delineation of major targets on the property (airborne geophysics, exploration targets prospecting and identification of drilling targets).

 

2018 goals include 1) Social and community activities, 2) Airborne magnetics geophysical survey to be realized in July 2018 on the entire property, 3) Structural interpretation and soil sampling (August 2018), 4) Delineation of promising exploration targets (October 2018), 5) DDH targets definition (December 2018), 6) Report filing.

 

   Phase I Exploration, 2018 Budget
   • Airborne Geophysical Survey - 5,600km - US$450,000

   • Structural Study - US$25,000

   • GIS, Maps, Drone Survey - US$90,000

   • Base Camp (6 to 8 people) - 3 Months - US$60,000
   • Personnel - Geologists and Technicians - US$225,000

   • Assays (Soil and Rock) - US$50,000

   • Equipment - US$35,000

   • Environment & Contingencies - US$65,000

   • TOTAL PHASE I - US$1,000,000

 

2019

Mid-term financing of US2$M for drilling in 2019/2020.

 

   Phase II Exploration, 2019 Budget

   • Drilling Infrastructure Access - 100 km - US$500,000

   • GIS and Maps - US$90,000

   • Lodging at Nabon - 6 people - US$90,000

   • Drilling - 3,000m - US$600,000
   • Assays - 3,500 samples - US$175,000

   • Equipment - US$30,000

   • Contingencies - US$115,000
   • TOTAL PHASE II - US$1,600,000

 

Once the Fortuna Project is de-risked and brought to the next level there is no shortage of players that will partner to take the Project to fruition.

 

     Content found herein is not investment advice see Terms of Use, Disclosure & Disclaimer

  

 

Recent news releases regarding Company accomplishments and operational developments:

  

• November 27, 2018 "Lucky Minerals Defines A Mineralized Porphyry System On Its Fortuna 3 Concession Project In Ecuador".

 

• November 20, 2018 "Lucky Minerals Inc. Identifies a Mineralized Showing Enriched in K-Feldspar and Hydrothermal Biotite on its Fortuna 3 Concession Project in Ecuador".

 

• October 22, 2018 "Montana Attorney General Requests Denial of the Motion for Vacatur of Exploration License, Lucky Minerals Retains License for Strategic Minerals Exploration at Emigrant Creek".

 

• October 16, 2018 "Lucky Minerals Inc. identifies two mineralized Porphyry systems with anomalous Cu-Mo values on its Fortuna Project in Ecuador".

 

• October 15, 2018 "Lucky Minerals announces increase in non-brokered private placement proceeds".

 

• October 11, 2018 "Lucky Minerals announces closing of non-brokered private placement; $1.06M first tranche".

 

• October 4, 2018 "Lucky Minerals announces closing of $2.87-million bought deal".

 

• September 11, 2018 "Lucky Minerals Obtains Final Approval From the TSX Venture Exchange and Completes Its Ecuadorian Acquisition".

 

• August 20, 2018 "Lucky Minerals Inc. Enters Into a Bought Deal Agreement for Gross Proceeds of C$2,500,000".

 

• August 2, 2018 "Lucky Minerals Bolsters Executive Team with the Appointment of a New President & CEO and VP of Exploration".

 

• July 3, 2018 "Lucky Minerals Plans Exploration Program on Fortuna Concessions in Ecuador".

 

• May 1, 2018 "Lucky Minerals Closes Acquisition of Goldmindex and 55,000 Hectare Property in Heart of Prolific Mineral Belt in Ecuador ".

------ ------ ------ ------ ------ ------

 

2) Emigrant Creek Cu-Au-Mo Project, Montana - 100%-owned

Click here for NI 43-101 report on Emigrant Creek Project [Oct-2015 PDF].

 

Targeting a large-scale porphyry system with world class potential. To date, 6 Copper-Gold-Molybdenum-Silver deposits have been identified within a 6 square mile area in Emigrant Creek, Montana.
 

Each individual area within the claim blocks shows significant potential to host 100 to 300 million tonne + deposits of copper-gold silver halo deposits with a molybdenum core.

 

The Emigrant Creek Project could conceivably contain a billion + tonne resource based on exploration and drilling data compiled from each of the zones contained in Lucky Minerals’ overall land package covering approximately 6 square miles.

 
Over $20 Million has been spent in exploring the property and putting together the database, owned by Lucky Minerals, which points toward the existence of a very large porphyry system. The U.S. Geological Survey includes the Emigrant District as one of the world’s giant porphyry systems in a report titled “Giant Porphyry Related Metal Camps of the World – A Database”. Every major mining company is searching the world for these types of deposits.

 

 

Figure 9a. (above) Location map, Emigrant Creek Cu-Au-Mo Project, Montana.

 

 

Figure 9b. (above) Location on geological map, Emigrant Creek Cu-Au-Mo Project, Montana is listed as #11 -- The Emigrant Mining District is centered on one of several intrusive centers localized on Cooke City Structural Zone at its intersection with the local Mill Creek fault. This intersection is the locus for the emplacement of the Emigrant Stock that is spatially, genetically and temporally related to the deposits of the district.

 

Location & Infrastructure

 

48 Km south of Livingston, Montana, population 7,000+. The project area is readily accessible to existing road networks, power infrastructure and other resources necessary to support advanced exploration activities or mining operation.

 

Possible Comparable Deposits

 

Emigrant Creek Project is currently a target for developing a potential world class porphyry system. Should further exploration show such a system exists, it could potentially be comparable to the deposits listed below.

 
• New Gold's New Afton Mine, Aurico Metals' Kemess Underground Project, Codelco's El Teniente Mine, Rio Tinto & BHP Billiton's Resolution Copper Mine and Northern Dynasty's Pebble East Deposit.
 

Historical Work: • Placer Gold Production • Exploration • Drilling

 
Gold has been found on the Emigrant Project site since the mid 19th century. Records indicate that ~40,000 ounces were recovered from small scale placer and lode operations between 1864 and 1930. From 1971 to 1992, a number of companies conducted various types of mineral exploration on the property including 12,873.8M of drilling over 83 holes, primarily on the St. Julien and DUV zones. Significant induced polarization surveys, chip sampling and alteration mapping have occurred in addition to drilling.

 
   • 1864: Placer gold discovered (~40,000 ozs produced from 1864-1930).

   • 1884: Lode gold discovered in Area 1 (St. Julien).

   • 1963: 2 holes drilled near Area 6 (Emigrant).

   • 1971-73: 11 holes drilled + 4 miles of geophysics completed.

   • 1991: Kennecott drilled 6 holes.

   • 1991: Pegasus Gold drilled 51 holes – 7,010.4 m.

 

 

Figure 10. (above) Emigrant Creek Cu-Au-Mo Project, Montana

 
Area #1 – St. Julien Gold Breccia Zone, 27 holes drilled. 22 holes with significant mineralization. The Gold mineralized zone here is estimated at 400X900X500 m (W*L*D)

 
Significant Intersections:

 

• Hole P91S-09 67.1 meters grading 1.93 g/t Gold (including 13.72 meters grading 3.64 g/t Gold), .10% Copper or 1.32% Copper Equivalent.

 
• Hole P91S-10 56.4 meters grading 1.81 g/t Gold (including 7.62 meters grading 4.79 g/t Gold), .12% Copper or 1.26% Copper Equivalent.

------ ------ ------
 

Area #2 – DUV Copper/Gold Breccia Zone. Copper-gold breccia zone is estimated at 800X750X500 m (W*L*D), 33 holes drilled. Holes ended in mineralization and never followed to depth.

 
Significant Intersections:

 

• Hole P91D-03 132.3 meters grading 2.12 g/t Gold (including 37.80 meters grading 6.76 g/t Gold), .21% Copper or 4.48% Copper Equivalent.

 
• Hole P91D-10 50.3 meters grading 14.37 g/t Gold (including 7.62 meters grading 88.39 g/t Gold), .03% Copper or 9.12% Copper Equivalent.

------ ------ ------

 
Area #5-Base Metal Copper/Silver/Lead/Zinc Breccia Zone, 15 holes drilled, all holes stopped in mineralized zones.
 

Significant Intersections:

 

• Hole G76W-08 105.2 meters grading .69% Copper, 29.40 g/t Silver or 1.00% Copper Equivalent (gold not assayed).

 
• Hole G75E-02 78.3 meters grading .37% Copper, 37.71 g/t Silver or .77% Copper Equivalent (gold not assayed).

 
• HoleP92G-01 102.1 meters grading .49% Copper, 38.74 g/t Silver or .64% Copper Equivalent (gold not assayed).

 
Note : All Copper Equivalent figures are based on a Copper price of $2.75 /lb and a Gold price of $1,250 /oz.

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Area #6-Emigrant Copper Breccia Zone

 
A 1971 large Induced Polarization survey was re-interpreted in 2006 using more advanced computer technology than was available at the time of the original survey. The re-interpretation found extremely high chargeability anomalies that likely indicate sulfides and associated mineralization in the survey area which is to be the focus of further mineral exploration.

 
This area is at a higher elevation than Area #5 with significant copper/gold at surface. The Emigrant zone is a major target that is undrilled except for a single hole to the far east of the zone, for which no assay data can be found in the property database, just the drill logs.
 

Figure 11. (above) Geological Model of LJ.V's Emigrant Creek Cu-Au-Mo Project.

Geological Setting & Thesis

• Several areas of extensive mineralization.

• Previous drilling tested only near surface zones and did not examine the entire system.

• Most holes were stopped in copper bearing sections.

• Drilling was concentrated above copper/gold part of the system, however higher grade material is considered to be present below.

• Zonation clearly fits a large-scale porphyry model: Breccia areas located above the main system, molybdenum core moving out into copper margins, gold areas are boiling zones high in the system. • Possible that the zones will connect into a much larger system at depth.

• Further exploration will initially focus near surface but would follow intrusive mineralizing breccia zones to depth for main source.

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Lucky Minerals Inc.'s Technical Leadership, Management, and Governance  Skip to top

The current management team and board of directors has a well rounded combination of people that each contribute expertise in disciplines necessary for a successful mining entity:

 

John Mears, B.Sc, MAusIMM, P.Geo, – CEO, President, Director

Mr. Mears is a highly respected geologist, corporate officer and director who has sat on the Board of Directors of numerous publicly listed mining companies, including Nevada Star Corp., Azteca Gold Corp., Andover Mining Inc., East African Copper Corp., and Oregon Resources Corp. He also served as a Director of Norsemont Mining during the successful USD$540 Million takeover by Hudbay Mining, and led the corporate rescue effort of Marengo Mining as Interim COO, which resulted in an investment in excess of USD$100 Million. Mr. Mears also acted as Chief Global Geologist & Senior Investment Manager from 2007 to 2017 for The Sentient Group, a private equity fund specializing in the natural resource sector. During this period he oversaw due diligence, audits, report creation and recommendations for the fund’s Natural Resource Investment portfolio valued at over USD$3 Billion.

 

Robert Rosner, – CFO, Executive Vice President, Director

Mr. Rosner has significant experience as a mining industry entrepreneur and executive who, in addition to Lucky Minerals, is also a Director and CFO of Chimata Gold Corp. Early in his career he initiated the formation of a number of junior exploration mining companies, including Fortuna Silver Mines (NYSE: FSM) and Niogold Mining Corp. (TSX.V: NOX – Acquired and wholly owned by Osisko), and played instrumental roles in managing these, and other, resource ventures involved in early stage exploration, resource location, delineation, and development. He has successfully utilized his extensive experience in public and private company management for over 30 years. Mr. Rosner has acted as an officer and director of both Canadian and U.S. listed companies, providing senior management of reporting compliance, oversight and fiduciary capacities, and directing corporate activities. He also has significant experience in Initial Public Offerings, Mergers & Acquisitions, and reverse takeovers.

 

Shaun M. Dykes, M.Sc. (Eng.), P. Geo., – Vice President, Director. and member of Technical Committee

Mr. Dykes is currently President and Chief Executive Officer of American CuMo Mining company a company currently developing the large CuMo deposit in Idaho, which Mr. Dykes was responsible for obtaining and developing to its current state. Mr Dykes will continue to work for both companies in aiding and developing the various projects.

  

Stuart Greene, Pr.Sci.Nat, MAusIMM, – Director and member of Technical Committee

Mr. Greene is a geologist and former Director of RMB Resources, a wholly-owned subsidiary of First Rand Bank that provides equity and debt financing to companies in the minerals and mining industry. His early career was spent as a mine geologist and geological consultant with experience covering mining and geotechnics, the preparation of Competent Person’s Reports and the preparation of independent valuations of mining companies and mineral assets. During his tenure as a resources financier with RMB, Mr. Greene was involved in originating, completing and managing equity and debt financings for junior resource companies with projects at every stage of development from exploration through to production. He has worked with numerous companies with project locations in North America, South America, Europe, Africa and SE Asia.

 

Joao Carêlo, B.Sc., MBA, – Chairman of the Board

Mr. Carrêlo is a senior mining executive with over 34 years of international experience in the mining and resource sectors. His experience includes the management of underground and open pit projects and operations, with exposure to precious and base metals, coal and industrial minerals in Latin America, Europe, India, and Africa. Mr. Carrêlo previously served as President, CEO and Director of Eco Oro Minerals Corp. from 2012 to 2014, and Executive Vice President and Chief Operating Officer of Lundin Mining Corporation from 2007 to 2012. He currently serves as a Non-Executive Director of TMAC Resources and Non Executive Chairman of Lucky Minerals. He holds a Bachelor of Science degree (Hons.) in Mining Engineering from the University of Newcastle Upon-Tyne (U.K.) and a Master of Business Administration degree from the European Management School (U.K.).

   

Francois Perron, B.Sc, MBA, – Director

Mr. Perron is a Director and Vice-President of corporate development for Goldstar Minerals Inc. Prior to that he was Vice-President at Renmark Financial Communications until April 2017. He was the President and Chief Executive Officer of QMX Gold Corporation and was previously the President and Chief Executive Officer of Golden Goose Resources. Before joining the resource sector, Mr. Perron was involved in the financial markets as a portfolio manager and managed resource focused portfolios for NBC Alternative Investments and various resource funds for the Caisse de dépôt et placement du Québec from 2001 to 2007. He has a Bachelor of Science, Computer science from McMaster University (1986) and an MBA from the Hautes Etudes Commerciales which he obtained in 1992.

 

Steven Cozine, – Corporate Secretary

Mr. Cozine has over 25 years of experience in venture capital markets as an officer and director of publicly listed companies in the mining, industrial and high-tech sectors. His experience covers a wide range of corporate management duties with a focus on governance and regulatory compliance, project management, corporate finance including private funding and prospectus offerings, human resources, strategic planning and corporate operations.

 

Guy Lauzier, B. Eng., – member Technical Committee

Mr. Lauzier sits as the Chair of the Technical Advisory Committee and is a mining engineer with over 30 years of experience in mine planning, design, construction and project management. He has consulted to a number of international mining concerns with projects throughout the Americas, Europe and Africa. In addition to mine planning, construction and operations, Mr. Lauzier has extensive experience in evaluating projects, setting budgets, licensing, procurement and all aspects of mining related human resources management.

 

Alain Moreau, M.Sc.A, B.Sc., P.Geo, – Vice President, Exploration

Alain Moreau has been a geologist entrepreneur since 1987. He worked closely with Noranda’s (now Glencore) management for strategic exploration in Eastern Canada and South America. He also worked with Cambior (now IamGold) for strategic exploration and property acquisitions in South America. He was involved in the Katinniq world class Ni mining camp exploration (Falconbridge, now Glencore). Mr. Moreau developed a mine targeting platform technology which has contributed to the identification of numerous mining discoveries around the world for the last 30 years. This technology is constantly updated and currently in use.

 

James Wayne Murton, BSc., P.Eng, – member of Technical Committee

Mr. Murton is a geological and mining consultant and the President of Kelowna, BC based J.W. Murton and Associates. He is a graduate geologist and registered Geological Engineer with the Association of Professional Engineers and Geoscientists of British Columbia. He has been active in the mining industry for over 50 years with junior companies as well as major mining concerns, and has managed and directed exploration programs for base metals, precious metals and uranium. Additionally, Mr. Murton has managed and directed underground mine exploration, development and production from gold, silver and copper mines as well as placer gold operations. He has been involved in a variety of projects throughout the Americas as well as West Africa, and has authored numerous property reports, as well as NI 43-101 reports as a Qualified Person as defined by governing regulatory bodies.

 

 

Note: This article is not intended to be a complete overview of Lucky Minerlas Inc. or a complete listing of Lucky Minerals' projects. Mining MarketWatch urges the reader to contact the subject company and has identified the following sources for information:

 

For more information contact Lucky Minerals Inc.'s head office at: Ph 866.924.6484

 

Company's web site: www.luckyminerals.com   SEDAR Filings: URL

 

 

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*Content found herein is not investment advice see Terms of Use, Disclosure & Disclaimer. This is a journalistic article and the author is not a registered securities advisor, and opinions expressed should not be considered as investment advice to buy or sell securities, but rather journalistic opinion only. Technical mining terms used by the writer may be used/expressed in simplified layman terms and should not be relied upon as appropriate for making investment decisions unless the reader contacts the company directly for independent verification. *Estimates of potential made by the mining analyst and journal(s) are non 43-101 and not from the Company.

 

     

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