Etruscus Resources Corp. Stakes 'Hammer' at Sugar After Identifying Visible Mineral Staining
VANCOUVER, July 13, 2020 - Etruscus Resources Corp.(CSE: ETR) (FSE: ERR) (the "Company" or "Etruscus") ispleased 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). Highlights:
- Historic reports describe skarn style mineralization and hydrothermal alteration that appears to be correlative with other showings seen at Sugar. NeighbourEnduro 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."
Qualified Person
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 Companypersonnel.
About Etruscus
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.
Etruscusis traded under the symbol "ETR" on the Canadian Securities Exchange and "ERR" on the Frankfurt Stock Exchangeand has 22,453,501 commonshares 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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