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VTEM© Uncovers “The Hurricane,“ Two Newly Discovered Large Conductive Targets at Rock & Roll

13.01.2021  |  CNW
VANCOUVER, Jan. 13, 2021 - Etruscus Resources Corp. (CSE: ETR) (OTC: ETRUF) (FSE: ERR) (the "Company" or "Etruscus") is pleased to announce the discovery of a new high-priority mineralized zone on the Company's Rock & Roll property, located in the Eskay Camp of BC's resource-rich Golden Triangle. Two targets along the "Hurricane" were discovered as a result of a VTEM© airborne survey completed during the 2020 exploration season (Click Here to View Map).

The Hurricane represents two strong geophysical conductors located on recently staked claims, 15 km northwest of the Black Dog Deposit. Upon receipt of VTEM© data, Hurricane was immediately upgraded to high-priority due to its location within favourable Black Dog stratigraphy of the Upper Stuhini Group and was followed up with sampling, prospecting and mapping during the 2020 exploration season.

The recent discovery of Hurricane was only possible due to major glacial retreat. Previous glacial cover inhibited any meaningful historical exploration. But, with recent exposure of these highly prospective targets, follow up exploration to preliminary sampling will be prioritized in the 2021 exploration season.

Hurricane Highlights:

  • VTEM© uncovers conductive trend of approximately 3.3 km by 0.5 km with two stronger lobes concentrated along this strike length. Conductance levels were shown to be very similar to those that overlay the Black Dog Deposit;
  • The Upper Stuhini stratigraphy is fertile for VMS as well as possible epithermal mineralization. This package of fine-grained calcareous sediments, black argillite and marine volcanic rocks closely resembles the rocks that contain the Black Dog Deposit (Click Here to View Image);
  • 743 ha was staked to cover ground hosting the second conductor. The Company now owns claims surrounding both conductors; and
  • The Company plans to implement an extensive exploration program, commencing in early 2021. Phase 1 will focus on a significant length of the conductors that has yet to be mapped, prospected or sampled. A drilling program is planned for Phase 2.

During the 2020 exploration season, the Company completed geochemistry, grab samples and trenching on a number of key areas along Hurricane's 3.3 km strike length. Initial geochemistry rock sampling received to date produced anomalous silver and copper results. Further results from grab and trench samples are expected in the immediate term.

The recently mapped geology surrounding the Hurricane targets is very similar to that which hosts the Black Dog Deposit. Both areas are overlain by limestone packages, contain a unique crystal lapilli tuff and black carboniferous argillites/mudstones. This lends itself to the possibility that the conductors picked up by the new VTEM© data represents another lens in the Black Dog system.

Dr. Dave R. Webb, Vice President, Exploration summarizes Hurricane as, "We are optimistic about the Hurricane conductors. It is situated in prospective stratigraphy, known to host precious metals rich VMS mineralization. We have identified two conductive targets at Hurricane: one 800 m long and 250 m wide and a second occurring 900 m farther along strike 420 m long and up to 150 m wide. Both targets correspond to very low magnetic responses, similar to the Black Dog Deposit located 15 km to the southeast. Our reconnaissance work had planned to assess the Stuhini rocks on our property for evidence of additional VMS targets, and initial assessments shows concentrations of elements associated with VMS targets. With very limited historical work done in the area and with new data from the first-ever VTEM©, the Hurricane represents excellent potential for new, high-grade mineralization."

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 27,880 hectares 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 and "ERR" on the Frankfurt Stock Exchange and has 28,514,306 common shares issued and outstanding.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Certain material assumptions regarding such forward-looking statements may be discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at www.sedar.com. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The Shares have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. We seek safe harbour.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.

/NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS./

SOURCE Etruscus Resources Corp.



Contact
Investor Relations Contact: Derek Wood, Email: dwood@conduitir.com, Telephone: 403-668-7855; Company Contact, Gordon Lam, CEO, Email: info@etruscusresources.com, Telephone: 604-336-9088, Website: www.etruscusresources.com

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