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VANCOUVER, BC, April 6, 2021 /CNW/ - Etruscus Resources Corp. (CSE: ETR) (OTC: ETRUF) (FSE: ERR) (the "Company" or "Etruscus") is pleased to announce the emergence of a 10 km by 2 km highly prospective corridor known as "Lightning Strike" in the northwest portion of its expanded Rock & Roll claims, 13 km northwest of the Company's Black Dog VMS deposit.
Located on the western side of the Eskay Camp north of the Snip mine, the Lightning Strike Corridor (the "Corridor") has strong potential to host various styles of high-grade precious metal mineralization. Plans are now underway to launch a major follow-up prospecting campaign covering the area, commencing this quarter, ahead of summer drilling focused on confirming a new discovery in a district known for its world class metal endowment.
Lightning Strike's Upper Stuhini-Lower Hazelton geology has potential to host both VMS and epithermal mineralization;
Recent geological mapping has projected the "Red Line" unconformity directly through the 10 km x 2 km Lightning Strike Corridor (Click Here to View Map);
Multiple high-grade veining systems discovered throughout the Corridor appear to show epithermal mineralization similar to Pretium's Brucejack deposit;
Many high-grade grab samples* including 25 g/t gold and 332 g/t silver at Heather Vein and 7,013 g/t silver and 12.7 g/t gold at Thunderstruck;
Two newly-discovered large conductive targets along the mineralized Hurricane Zone could represent another lens in the Black Dog VMS system; and
Major glacial retreat, since the most recent historic work 38 years ago, has revealed large areas of prospective red line stratigraphy. One glacier in the Corridor has retreated over 2 kilometers since 1962.
(* Grab samples are selectively collected and are therefore not representative of all mineralization hosted on the property.)
Multiple geological factors have aligned to give rise to two immediate high priority areas along the Lightning Strike Corridor: The Hurricane and Thunderstruck targets (refer to January 13, 2021, and January 19, 2021, news releases). Geological mapping in 2020 led by Jim Logan, who has over 30 years of B.C. Geological Survey experience in the Golden Triangle, shows that both targets are situated near the "Red Line" Stuhini-Hazelton unconformity. The Red Line, a key time horizon closely related to most major deposits in the Golden Triangle, is very prominent within a major mineralized trend that goes through the majority of Etruscus' properties (Click Here to View Map).
Significant glacial retreat has occurred since the last historic work in 1983, opening up the majority of this highly prospective Corridor that has never been systematically explored. During the past two years, Etruscus has embarked on preliminary exploration programs to determine the potential of the area. Initial geophysical, geochemical and geological data supports the Company's thesis that the package of rocks found along the 10 km length holds potential to host high-grade mineralization in multiple areas, setting up the Corridor to be a key part of 2021 exploration.
The Etruscus 2021 exploration season will be kicked off this quarter when "Operation Lightning Strike" commences with ground truthing across multiple areas of interest in this Corridor. A major program of mapping, prospecting and significant rock sampling will be implemented as soon as ground conditions allow. Systematic sampling of the entire Corridor will generate a clear understanding of the economic potential this prospective and recently unglaciated terrain holds. Starting low down in the valleys, the exploration team will explore near the receding glaciers before working upwards to identify the source of mineralization. Teams will also follow up on over 20 areas of interest highlighted from last year's VTEM© survey, most of which have not seen any historic work. Pursuant to results, collars will be finalized for summer drilling.
Gordon Lam, CEO and President, comments on the Lightning Strike Corridor, "The aggregate results generated from work in 2019 and 2020 have thus far exceeded our expectations of the expanded claims at Rock & Roll. Highly encouraging geophysical, geochemical and sampling results indicate multiple mineralizing events occurred in this area. This Corridor holds excellent potential to host any of the high-grade Golden Triangle deposit types; a continuation of the Black Dog VMS system, intrusion-related gold veins similar to the Snip Mine, epithermal veining similar to Pretium's Brucejack mine (Click Here to View Image), and the younger Hazelton stratigraphy above the red-line contact opens up potential for Eskay Creek style mineralization. Regardless of the deposit model to be determined, we are excited to further follow up this new, unexplored and highly prospective area in 2021."
Technical aspects of this news release have been reviewed and approved by James Moors, P.Geo., 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 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, "ETRUF" on the OTC and "ERR" on the Frankfurt Stock Exchange and has 28,514,306 common shares issued and outstanding.
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SOURCE Etruscus Resources Corp.
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