VANCOUVER, March 11, 2020 /CNW/ - Etruscus Resources Corp. (CSE: ETR) (the "Company" or "Etruscus") is pleased to provide an update on the field work carried out on its Sugar property ("Sugar") staked in 2019 as a result of GIS compilation work. The 4,508 hectares (ha) were staked in British Columbia's Golden Triangle, 7 km northwest of the Company's Rock & Roll Property (Click here to view map).
Assessment of the field work suggests Sugar has large scale copper porphyry potential due to multiple mineralized showings and alteration footprints identified on this undrilled property.
- Texas Creek Plutonic Suite Rocks mapped, similar to those found at large, nearby deposits like KSM, Red Chris, Johnny Mountain and Brucejack
- Multiple styles of hydrothermal mineralization across an 8 km copper anomaly
- Skarn showing includes 3.63% zinc, 0.12% copper
- 0.82% copper in newly identified vein
The 2019 field season consisted of mapping, prospecting and sampling. Texas Creek Plutonic Suite Rocks and multiple styles of hydrothermal mineralization were identified across an 8 km copper anomaly on Sugar. These rocks are considered to be responsible for many large mineral deposits in the area such as KSM, Brucejack, Red Chris and Johnny Mountain. This suggests strong potential for a major discovery, supporting our conclusion that further exploration work is warranted.
Etruscus geologists were able to identify skarn mineralization on the property near contacts between a limestone package and intrusive rocks. Large gossans were outlined that contained magnetite, sphalerite and chalcopyrite and the gossanous trend was seen to project for over 1 km east on the property. Grab samples* taken at this location assayed 3.63% zinc and 0.12% copper. The limestone package that hosts the skarn extends for over 4 km and will be fully evaluated for mineralization due to its proximity to Texas Creek intrusions.
Etruscus identified 2 quartz veins during its exploration work. A grab sample taken from a newly identified quartz/chalcopyrite vein measuring 25 m in strike length assayed 0.82% copper. This new showing occurs in an area of large glacial retreat with consistent copper mineralization projecting towards 2 of the shrinking glaciers. Historic stream sediment samples taken from Fowler Creek that drains these 2 glaciers are the most anomalous across Sugar. The second quartz vein has a strike length of nearly 100 m and occurs in a broad area of hornfels, commonly associated with upper levels of porphyry systems. Large-scale copper porphyry targets are possible at these locations.
The area has seen significant changes since 1990. Infrastructure has improved with Galore Creek Mining Corporation, a joint venture between Newmont Mining Corporation and Teck Resources Limited, currently building a road that will bring access to within 10 km of Sugar. This improves the economics of exploring in this area. There has also been significant glacier retreat, opening up new areas that have never been explored.
Gordon Lam, President and CEO commented "With the Sugar property sitting just 7 km to the northwest of our flagship Rock & Roll property and improved infrastructure nearby, we have the advantage of being able to employ our resources efficiently to explore the area. Sugar is a large underexplored land package with potential for large deposits. Our 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."
He continued, "We are encouraged by the findings from last year and plan to ramp up exploration to follow up on the strong geochemical records."
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 Resources has implemented a rigorous quality assurance / quality control (QA/QC) program to ensure best practices in sampling and analysis of rock samples. All assays are performed by ALS Canada Ltd., with sample preparation carried out at the ALS facility in Terrace, BC, and assays at the North Vancouver laboratory. All rocks are shipped in secure and sealed bags from site to ALS prep labs in Terrace. Assay values are uncut. All rock samples are analyzed using method ME-MS41 with aqua regia digestion. If greater then 2 ppm Au is detected, fire assays are performed with ALS method Au-ICP21 using a 30 g sample finished by atomic emission absorption. If greater than 10 ppm Au is detected, a gravimetric finish (Au GRA21) is triggered. Ore grade samples of silver, copper, lead and zinc are reanalyzed with ICP-AES if the threshold (>100ppm Ag or >10,000 ppm Cu, Pb, Zn) is passed for individual elements. Certified blanks and standards are inserted into the sample stream to 10 % and all reported acceptable results.
*Grab and float samples are selected samples and are not necessarily representative of the mineralization hosted on the property.
Etruscus Resources Corp. is a Vancouver-based exploration company focused on the development of its 100%-owned Rock & Roll and Sugar properties comprising 26,464 hectares near the past producing Snip mine in Northwest B.C.'s prolific Eskay Camp.
Etruscus trades under the symbol ETR on the Canadian Securities Exchange and currently has 21,228,501 shares issued and outstanding.
On behalf of the Board of Directors:
/s/ "Gordon Lam"
Chief Executive Officer, President and Director
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SOURCE Etruscus Resources Corp.
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