ecuador fortuna project - proactiveinvestors na...strategically located in the south-central part of...

Ecuador Fortuna Projectby Alain Moreau, P.Geo

Technical Advisor

July 2018

TSX. V:LJ Corporate Presentation July 2018 2 / 29

Disclaimer

The statements in this presentation represent the considered views of Lucky

Minerals includes certain statements that may be deemed "forward-looking

statements“. All statements in this presentation, other than statements of

historical facts, that address future market developments, government actions

and events, are forward-looking statements. Although Lucky Minerals believes

the outcomes expressed in such forward-looking statements are based on

reasonable assumptions, such statements are not guarantees of future

performance and actual results or developments may differ materially from

those in forward-looking statements. Factors that could cause actual results to

differ materially from those in forward-looking statements include changes in

general economic, market or business conditions.

While Lucky Minerals has made every reasonable effort to ensure the veracity

of the information presented it cannot expressly guarantee the accuracy and

reliability of the estimates, forecasts and conclusions contained herein.

Accordingly, the statements in the presentation should be used for general

guidance only.


Context

• Fortuna is an early stage exploration project strategically located in the South-Central part of Ecuador, about 50 km South-East of major town of Cuenca

• The project is comprised of 12 contiguous concessions totalling approximately 54,985 Ha (550 km2)

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


History

• Placer mining for gold since the Inca times

• Fortuna has been sporadically explored for gold since the 1990’s

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

• The concessions have never seen any drilling


History (cont’d)

• 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


A New Perspective

• A new stable geopolitical environment since 2015 that spurred investments from major companies has revived interest in the country

• Numerous world class discoveries and projects close to production

• Exploration focus is on gold and copper

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


Notable Major Players

• 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)


Fortuna Strategic Play

Major Deposits

Zones of Interest

Mirador

Loma Larga

Fruta del

Norte

Cangrejo

Condor

Gaby


The Game Plan

• 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)

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

• Additional financing for resource definition by 2020-2021


Regional Location Map


Property Location Map


Property Satellite Imagery


Regional Geological Map


Regional Geological Map Legend


Porphyry Copper Deposit Tracts by Age

in the Northern Andes

From Cunningham et al (2008)

Fortuna

• Porphyry Copper Deposit Tracts by age, discovered and prospects, in the Andes

• Fortuna concessions are located in tract

- SA05PC (Miocene)

- SA03PC (Jurassic)


Estimated Undiscovered Porphyry Copper

Deposits in the Northern Andes

Fortuna


• Porphyry copper deposit tracts by amount of mean estimated

• Fortuna concessions are located in tracts between 30Mt and 50Mt Cu


Undiscovered Copper in the Northern Andes


• 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

Fortuna


Source: Column chart from Cunningham et al (2008)

Copper Production, Reserves, and

Resources of the Andes

• The total estimated

copper in the Andes

amounts to a grand

total of about 1.3B Mt

• The study estimates

there is about 1.3 times

as much copper to be

found in porphyry

copper deposits in the

Andes as has already

been found


Similarities With Other Systems

Feature Cu

Porphyry

Epithermal

Gold

Fortuna

Concessions

Caldera like structure

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


Strategic Exploration - Structures

Major NNE Structure

Other NNE Structure


Top Property Exploration Targets

Top Priority NNE Structure

Top Priority Target

Major NNE Structure

Major Target

Other NNE Structure

Other Target


Geochemistry Gold Anomalies

Au > 5 g/t

Au > 300 ppb

Survey Limits


2018 Survey Alteration Anomalies

Argillization

Propylitic Alteration

Silicification

Sericitization

Advanced Argilization

Breccia Zone

Survey Limits


Alteration Zone Targets

Epithermal Gold

Porphyry Copper

Mine Workings

Canopy Limits


Detailed Alteration Anomalies

Argillization


Silicification


Field Exploration Targets

A

BC

D

T

A to D Exploration Targets

Tunneling Activities

Top Priority NNE Structure

Major NNE Structure

A

T


Field Sampling Zones 2018

Argillization


Silicification

Field Sampling Zones

Caldera Rim

AD

C

B


Expected Milestone

• 2018

- Social and community activities

- Airborne magnetics geophysical survey to be

realized in July 2018 on the entire property

- Structural interpretation and soil sampling

(August 2018)

- Delineation of promising exploration targets

(October 2018)

- DDH targets definition (December 2018)

- Report filing


Exploration Budget – 2018 – Phase I

• Airborne GeophysicalSurvey

- 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


Exploration Budget – 2019 – Phase II

• 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


Conclusion

• Fortuna property has considerable potential to host significant gold and porphyry mineralized systems such as Fruta del Norte and Mirador deposits

• 2018 Exploration Program will focus on

- Complete airborne geophysical coverage

- Geochemistry and structural analysis

- Identification of drilling targets for 2019


Contact

• Robert Rosner, CEO

[email protected]

(310) 435-0435

• Alain Moreau, Technical Advisor

[email protected]

(514) 924-6840

• Santiago Yepez, Country Manager (Ecuador)

[email protected]

593 9 95887204

mailto:[email protected]



Thank you!

ecuador fortuna project - proactiveinvestors na...strategically located in the south-central part of...

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