VANCOUVER, BC, June 19, 2024 /CNW/ - Etruscus Resources Corp. (CSE: ETR) (OTC: ETRUF) (FSE: ERR) (the "Company" or "Etruscus") is pleased to provide an update on the Company's exploration targets at it's flagship Rock & Roll Property ("Rock & Roll" or "the Property") located in the prolific Golden Triangle in northwestern British Columbia, Canada. The team has defined two high-priority drill-ready targets and several advanced prospects which will be the focus of the 2024 field exploration program.
Figure 1- Map of Rock and Roll Property and Targets (CNW Group/Etruscus Resources Corp.)
Figure 2 – Plan View Map of Discovery IP Survey Displaying Chargeability Results (CNW Group/Etruscus Resources Corp.)
Figure 3 – Oblique View of Discovery IP Survey Displaying Chargeability Results (CNW Group/Etruscus Resources Corp.)
Figure 4 – Plan Map of Heather Target Displaying Chargeability and Geochemistry (CNW Group/Etruscus Resources Corp.)
Figure 5 – Photos of Kashmir Showing and Rock Samples (CNW Group/Etruscus Resources Corp.)
Figure 6 - Infographic Displaying Rock Samples at Pheno Compared to Round Top Deposit (CNW Group/Etruscus Resources Corp.)
Stephen Wetherup, Etruscus' VP of Exploration commented, "Our highest priority for the 2024 season is the Discovery Target, which showcases all the essential elements for a major porphyry discovery. With 1.1 km of QSP alteration, a 600 meter chargeability anomaly, and the correct host stratigraphy, we have a very promising drill ready target in a geological terrain recognised world-wide for massive porphyry discoveries." He went on to add," As we refocus our efforts in the Golden Triangle, we are excited by the number of targets that we have developed through three diligent years of exploration on the Property. With major companies staking new ground around us, announcing substantial work programs in the area, and new exploration trends being identified, the Rock & Roll holds great exploration potential in a region with a record of producing billion-dollar discoveries."
2024 Exploration Targets:
TARGET NAME
DESCRIPTION
WORK
STAGE
Discovery
1.1 km QSP Altered, Copper/Gold Porphyry
IP, Soil, Rock, Mapping
Drill-Ready
Heather
Epithermal, High-Grade, Gold/Silver Veins
IP, Soil, Rock, Mapping
Drill-Ready
Kashmir
New Copper-Molybdenum Porphyry Discovery
Rock, Mapping
Development
Pheno
Rare Earth Element Target in Fractionated Rhyolites
Rock Sampling
Development
Hammer
High-Grade Copper/Magnetite Skarn
Rock Sampling
Exploration
North Gossan
400m Hydrothermal Alteration, Related to Discovery
Rock, Soil
Exploration
Discovery Porphyry Target
The most advanced showing on the property is the Discovery copper-gold porphyry target, previously described in a news release dated Feb 1, 2023. This target demonstrates significant size and a discrete IP anomaly but has never been drill tested. It provides potential for a large-scale discovery in a region with many major porphyry Cu-Au-Mo deposits nearby including Saddle North, Red-Chris and the KSM trend.
Extensive geological mapping, carried out in 2022, revealed robust quartz-sericite-pyrite alteration indicative of a porphyry Cu-Au system that extends over 1 kilometer to the east of the original Discovery showing towards the receding Twin Glacier (See figure 2 below). The showing location, at the "Red Line" Triassic-Jurassic unconformity, is typical of the Texas Creek age intrusive activity that has driven most of the mineralization in the Golden Triangle, further increasing the potential of a discovery. At depth, a 600 m wide chargeability anomaly ("Zappa") comes to surface directly beneath the recently mapped QSP alteration zone and represents a potential widening of the hydrothermal system.
The eastern boundary of the chargeability anomaly identified from an IP survey in 2022 remains open and 4 more lines are planned for 2024. This will define the true extension of the Zappa anomaly up to the Twin Glacier margin and will help refine the target for drilling later in the season.
Heather Target
The Heather Target, located 5 km southeast of the Discovery Target, is highlighted by a significant number of high-grade gold assays and a 300 m by 350 m soil anomaly elevated in gold, copper, molybdenum and zinc. High level epithermal indicators include quartz-pyrite stockworks and drusy polymetallic veins. The area has returned grab rock samples as high as 36.6 g/t Au and an average of 2.92 g/t Au, 2,014 g/t Ag, 0.45% Cu, 4.1% Pb, and 7.0% Zn from 3 samples taken along a newly discovered polymetallic quartz vein. The high-grade nature of the showing combined with the large-scale geochemical anomaly suggests a significant mineral system could exist at the Heather.
The IP survey completed in 2022 also demonstrated two controlling gold trends coincident with two highly chargeable anomalies directly below surface. The team is eager to continue work in the area to correlate the geophysical data to the geological maps and delineate a promising drill target.
Kashmir Showing
The Kashmir showing was identified during the 2022 field program as a molybdenum porphyry with potential for further copper/gold zonation in an area that has seen no previous work. The geological team identified a new monzonitic intrusion that contains quartz vein stockwork and blebby molybdenum and malachite staining. The mineralized outcrop measures at least 50 m across and remains open in multiple directions.
A total of 18 selective rock grab samples were collected at the Kashmir in 2022 that averaged 0.18% Mo with a high of 0.86% Mo. A float rock sample from 50 m away from the showing also returned the highest-grade rock sample taken on the property at 51.3 g/t Au. In addition, rock sampling of creek boulders more than 2 km downstream have common Mo-Cu quartz veins suggesting either the Kashmir showing is larger than its current known extent, or additional showings occur beneath cover in the valley.
Pheno Target
The Pheno claims represent a unique exploration opportunity for Etruscus into the critical metal market with anomalous rare earth mineralization inadvertently identified in rock samples taken by the BC geological survey. The work at this target is in its initial stages, but the team sees potential for a large-scale bulk-tonnage system comparable to the Round Top Deposit in Texas, with similar geology and similar geochemistry described thus far. With minimal financial investment, the team aims to confirm a new style of rare earth mineralization for the district and looks to outline a very large-scale target with significant amounts of the critically important rare earth elements.
Qualified Person
Technical aspects of this news release have been reviewed and approved by Stephen Wetherup, BSc., P.Geo., who is a Qualified Person as defined under National Instrument 43-101.
About Etruscus
Etruscus Resources Corp. is a Vancouver-based exploration company focused on the acquisition and development of precious metal mineral properties. The Company's flagship asset is the 100%-owned Rock & Roll Property comprising 29,344 ha 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, "ETRUF" on the OTC and "ERR" on the Frankfurt Stock Exchange. Etruscus has 49,960,361 common shares issued and outstanding.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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SOURCE Etruscus Resources Corp.
Company Contact: Fiore Aliperti, President & CEO, E: [email protected], T: 604-336-9088, W: www.etruscusresources.com
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