July 13, 2020
Vancouver, BC: Etruscus Resources Corp. (CSE: ETR) (FSE: ERR) (the “Company” or “Etruscus”) is pleased to announce it has staked 4 additional claims (“Hammer Zone”) contiguous to its Sugar Property (“Sugar”) located in the heart of the Eskay Camp in Northwest British Columbia’s Golden Triangle. After encouraging results from its 2019 Sugar exploration program, historic reporting and GIS compilation work, the Company has increased its total Sugar claims by 672 hectares to 5,181 (Click here to view map).
- Historic reports describe skarn style mineralization and hydrothermal alteration that appears to be correlative with other showings seen at Sugar. Neighbour Enduro Metal’s Northwest Zone has similar mineralization and helps demonstrate the potential for large-scale hydrothermal deposits in the area;
- Additional claims primarily cover a large nunataq (rock island surrounded by glacier) in an area that has not seen exploration in 30 years;
- The “Hole in the Wall” showing discovered by Corona Corporation over 30 years ago has never been drilled but rock sampling in 1990 includes a 2.7 m chip sample averaging 1.45% Cu* and a talus float sample taken below the showing returning 13.6% copper*;
- Significant glacier retreat in the Hammer Zone has revealed visible mineral staining and new areas that have never been explored. With infrastructural improvements and nearby resources available, Etruscus can economically explore the area as part of a bigger Sugar program.
Encouraged by the Sugar findings from last year (Click here to view March 11, 2020 news), the Company is planning a 2020 exploration program of mapping, prospecting, sampling and a VTEM survey at Sugar including the new claims. The Company’s goal is to identify the source of this hydrothermal activity and advance the multiple mineralized showings into a more cohesive geological model that will lead to drill targets on this largely underexplored area with potential for major deposits.
Gordon Lam, President and CEO, commented “During 2019 aerial reconnaissance on route to the Sugar claim, our team identified extensive gossanous slopes. After reviewing historic reports in the area that described strong copper geochemistry and its occurrence adjacent to recently receding glaciers, we decided to stake the Hammer claims. This is consistent with our staking program initiated in 2018 where we wanted to aggressively add properties that could be developed into a resource. We will continue to seek other acquisitions to further enhance shareholder value.”
Technical aspects of this news release have been reviewed and approved by Dr. Dave R. Webb, Ph.D., P.Geo., who is a Qualified Person as defined under National Instrument 43-101.
*Etruscus recognizes that these samples are historic and they haven’t been verified by Company personnel.
Etruscus Resources Corp. is a Vancouver-based exploration company focused on the development of its 100%-owned Rock & Roll and Sugar properties comprising 27,136 hectares near the past producing Snip mine in Northwest B.C.’s prolific Golden Triangle.
Etruscus is traded under the symbol “ETR” on the Canadian Securities Exchange and “ERR” on the Frankfurt Stock Exchange and has 22,453,501 common shares issued and outstanding.
On behalf of the Board of Directors:
/s/ “Gordon Lam”
Chief Executive Officer, President and Director
For further information:
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This Press Release may contain statements which constitute ‘forward-looking’ statements, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including quarterly and annual Management’s Discussion and Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.