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A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Lucky Minerals (TSXV:LKY) announced that it is about to kickstart an exploration campaign at its Fortuna project, located in southern Ecuador.
In a media statement, Lucky said that its crew is focused on gold discovery and consists of two senior and two junior geologists.
Their primary objectives are follow-up work on 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.
Fortuna is a royalty-free, 55,000-hectare exploration concession located in a prospective gold belt in southern Ecuador
According to the Vancouver-based miner, this work is concurrent with work being completed by First Quantum Minerals (TSX:FM).
“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,” Lucky CEO, Adrian Rothwell, said in the press brief. “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-.”
Rothwell explained that the project has potential to host three significant types of gold mineralization – epithermal, orogenic, and placer gold – as well as copper-gold porphyry systems coincident with twelve known volcanic centres on the property.
