VANCOUVER, BC / ACCESSWIRE / April 22, 2021 / Lucky Minerals Inc. (TSXV:LKY)(OTC PINK:LKMNF)(FRA:LKY) ("Lucky" or the "Company") is pleased to announce it has joined the Extractive Industries Transparency Initiative ("EITI"). The EITI is the global standard for the good governance of oil, gas and mineral resources throughout the world and it promotes the open and accountable management of a country's natural resources. It is aligned with the Open Government Partnership, to which Ecuador is a signatory and promotes the fight against corruption and promotes transparent, participatory, inclusive and accountable governance. To date, 55 countries have implemented the EITI Standard and Ecuador joined the initiative in October 2020.
Adherence to the EITI requires the Government of Ecuador to publicly disclose information and full transparency regarding all stages in resource extraction such as:
- Contracts & Licenses
- Revenue Collection & Allocation
- Social and Economic Spending.
Lucky's CEO, Mr. Francois Perron stated: "We are pleased to have been accepted as an EITI member and join an internationally recognized framework that aligns with our commitment to industry best practices in social and corporate responsibility, accountability, and performance excellence. We are committed and strongly believe that by implementing international standards of industry and by providing a transparent and responsible mining sector, will result in positive development and bring enhancements to areas where the projects are located."
Lucky is an exploration and development company targeting large-scale mineral systems in proven districts with the potential to host world class deposits. Lucky owns a 100% interest in the Fortuna Property.
The Fortuna Property is comprised of twelve contiguous royalty-free concessions and occupies 550 km2 (55,000 Ha, or 136,000 Acres). Fortuna is located in a highly prospective, yet underexplored, gold belt in southern Ecuador.
To date Lucky has identified 4 key target zones the most prospective of which is Wayka.
Wayka is just east of the El Buitre Porphyry and west of the Emma Porphyry discovered last fall. Outcrop sampling to date confirms the presence of vuggy silica and alunite within rhyolite volcanics, typically found in high sulfidation epithermal systems. Out of the 12 samples received to date, a third of them are above 0.30 g/t gold and another third are anomalous (between 0.040 g/t gold and 0.30 g/t gold). Prospecting at Wayka continues with the goal of expanding the current footprint of 1.2 km by 0.5 km and to increase the understanding of the overall system.
Covid-19 Safety Protocols
Lucky Minerals has strict rules in place for all workers, consultants and service providers arriving to and from field sites. All personnel are tested upon arriving and leaving and are tested every two weeks. All personnel are housed in separate and private accommodations and are isolated from the community.
Victor Jaramillo, M.Sc.A., P.Geo., Lucky's Exploration Manager and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Fortuna Project for Lucky Minerals and has reviewed and approved the technical information contained in this news release.
ON BEHALF OF THE BOARD
Chief Executive Officer
Further information on Lucky can be found on the Company's website at www.luckyminerals.com and at www.sedar.com, or by contacting Francois Perron, President and CEO, by email at [email protected] or by telephone at (866) 924 6484.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Adjacent Properties and Forward-Looking Information
This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labor relations matters. This list is not exhaustive of the factors that may affect the Company's forward-looking information. Important factors that could cause actual results to differ materially from the Company's expectations also include risks detailed from time to time in the filings made by the Company with securities regulators.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
SOURCE: Lucky Minerals Inc.