VANCOUVER, British Columbia, May 12, 2023 (GLOBE NEWSWIRE) -- Etruscus Resources Corp. (CSE:ETR) (FSE:ERR) (OTCPink:ETRUF) has started its 2023 drill program at its Lewis Property in Newfoundland. The road accessible Lewis property is located 5 km south of the Trans Canada Highway in the Gander Gold Belt, approximately 10 km west of New Found Gold’s Keats Zone discovery.
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The Lewis property consists of 103 claims in two claim blocks totaling 2568 hectares in the Exploits Sub-zone of Newfoundland. The geological team arrived last week and has quickly established core cutting and staging areas along with conducting ground truthing to confirm collar locations for the entire Program.
Previous geochemical and geophysical programs have identified two highly chargeable structures on the property, one north and one northeast striking which have provided high priority targets for the company's inaugural drill program. This data outlined large untested drill targets in an area which has produced numerous outcrop samples and glacial float boulders of greater than 20 g/t gold. Due to the numerous trails on the Property, drill access is excellent.
Up to 2,000 metres of drilling will be executed over 10 to 15 holes, with a focus on four high priority target areas in the center of the property, where coincident anomalous gold-Arsenic-Antimony soils occur and where high gold mineralization was indicated in rock surface samples. Historically, only four short test holes were drilled over the 4.6 km strike length, none of which tested the areas of highest chargeability confirmed in a recent IP Survey.
Stephen Wetherup, VP of Exploration, stated: "With all the successful reconnaissance work completed in the last 12 months, its great to finally drill test the high priority targets we've developed along the 4.6 km of highly chargeable structures. During our first week here, we reviewed the historic Noranda drill core stored at the library in Buchans. We noted that mineralization is restricted to sulphide rich zones in the core and this reinforces our strategy of targeting the large chargeable anomalies highlighted from last year's IP Survey. We look forward to reporting assay results once received."
The company also has the 100%-owned Rock & Roll property, which along with its 100%-owned Sugar property total 27,880 hectares near the past producing Snip mine in Northwest B.C.'s prolific Golden Triangle.
The shares are currently trading at $0.15, with 41,451,000 shares outstanding.
For more information, please visit the company’s website www.EtruscusResources.com, or contact Fiore Aliperti, President and CEO, at 604-336-9088 or by email at info@EtruscusResources.com.
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