VANCOUVER, Aug. 23, 2019 /CNW/ - Etruscus Resources Corp. (CSE: ETR) (the "Company" or "Etruscus") is pleased to announce that crews are mobilizing for the start of its Phase 1 drill program at the Rock & Roll Project in Northwest B.C.'s Eskay Camp. This follows confirmation of a number of relatively shallow geophysical targets considered highly prospective for additional volcanogenic massive sulphide (VMS) discoveries.
- 2,500 metres of Phase 1 drilling is targeting additional silver-gold-copper-zinc-rich VMS-style mineralization near the Black Dog deposit which was discovered three decades ago but has never been systematically followed up on until now;
- The most recent airborne electromagnetic (EM) survey for the area has been reinterpreted resulting in new encouraging results; and
- Geophysics, geochemistry and structural geology have combined to support the interpretation that the large southern block of the Rock & Roll Project, at a low elevation 7 km northwest of the past producing Snip high-grade gold mine, has the potential to host multiple VMS-style deposits.
Dr. Jules Lajoie, who for the past 2 years has successfully selected massive sulphide drill targets at Garibaldi Resources' Nickel Mountain from downhole geophysics, has outlined several high priority near-surface conductors over a triangle-shaped area covering approximately 3 sq. km adjacent to the historic Black Dog deposit.
Physical property analysis of some historic Black Dog drill core and other rock samples collected from the property over the summer, showed that massive sulphide samples are orders of magnitude more conductive than graphite bearing samples. This puts more weight on the previously discounted airborne EM targets thought to be caused by graphite and suggests that they may instead be caused by massive sulphides.
An improved understanding of the structural controls on mineralization at the Rock & Roll Project, and a first-ever biogeochemical survey of the area yielding numerous coincident multielement anomalies, some correlating to targeted geophysical anomalies, further support Dr. Lajoie's geophysical interpretations that can only be confirmed through drilling.
Gordon Lam, Etruscus President and CEO, commented: "I am extremely pleased with the many months of hard work by our technical team, specifically the geophysical reinterpretation by Dr. Jules Lajoie. The conclusion changes over 30 years of geological thinking and gives us great confidence as drillers now take aim at some exceptional targets at shallow depths mostly between 100 meters and 200 meters. Our first broad target area at Rock & Roll is south of the Iskut River. Notably, the VMS system is believed to continue to the north, beyond the Iskut River, where targets are being finalized."
Technical aspects of this news release have been reviewed and approved by Lindsay Bottomer, P.Geo., FAusIMM who is a Qualified Person as defined under National Instrument 43-101.
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 19,394,001 shares issued and outstanding.
On behalf of the Board of Directors:
/s/ "Gordon Lam"
Chief Executive Officer, President and Director
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.
SOURCE Etruscus Resources Corp.
For further information: Tel: 604-336-9088, Email: email@example.com, Web: www.etruscusresources.com