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Etruscus Samples High-Grade Copper and Silver at Sugar; VTEM Results Suggest Massive Sulphide Source

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VANCOUVER, BC, March 16, 2021 /CNW/ - Etruscus Resources Corp. (CSE: ETR) (OTC: ETRUF) (FSE: ERR) (the "Company" or "Etruscus") is pleased to announce VTEM© and rock sampling results from the Sugar Property "Hammer" target, just 5 kilometres northwest of the Company's flagship Rock & Roll Project in the Eskay Camp. The "Hammer" has been upgraded to a well-defined drill target due to its strong geophysical and geochemical signatures.

Etruscus-Logo (CNW Group/Etruscus Resources Corp.)
Etruscus-Logo (CNW Group/Etruscus Resources Corp.)

Hammer Target Highlights:

  • New airborne geophysical survey (VTEM) has identified a 100-m long x 300-m wide magnetic anomaly underlying a historic magnetite skarn showing;

  • Multiple discrete conductors, slightly offset from the mag high and possibly associated with massive sulphides, broaden the area of interest to at least 500 meters;

  • 2020 rock sampling at this historic showing returned high-grade copper results, including 8.3% Cu (grab) and 5.5% Cu (float), with five out of six samples grading over 1.5% Cu;

  • Grab samples also revealed anomalous Au, Ag and Co values.

Other exploration in 2020 at Sugar also returned favorable results including:

  • Skarn trend (Click Here to View Map) extended to 3 km with identification of a new massive sulphide showing;

  • Angular float B0026887 returned 8.2% Zn and 0.3% Cu upstream of any historical showings, indicating more mineralization in unexplored areas;

  • Two samples from a 30-cm wide historic quartz vein that plunges underneath a talus slope returned high copper and silver values. Grab sample B0026713 assayed 5.6% Cu, 225 g/t Ag and 0.4 g/t Au. Float sample B0026774 assayed 2.9% Cu, 483 g/t Ag and 0.7 g/t Au.

The Sugar Property has seen favorable developments in recent years with significant glacial retreat opening up new areas for exploration. Work completed in the past two years has expanded the Company's geological understanding of the area and has led to the discovery of new zones of copper mineralization. Geological mapping led by Jim Logan, who has over 30 years of B.C. Geological Survey experience in Northwest B.C., also helped identify local stratigraphy and mapped various intrusions at Sugar. The region immediately surrounding the Sugar Property is seeing improved infrastructure and access, in particularly related to the advancement of Galore Creek, located approximately 24 km north. One of the largest undeveloped copper, gold, and silver projects in the world, Galore Creek is currently operated under a Teck-Newmont joint venture and is building a road to within 10 km of Sugar.

Grab sampling results indicate the potential for a copper-rich deposit type. 14 of 36 rock samples taken (39%) during 2020 have graded over 0.25% copper (shown below):

Sample #

Easting

Northing

Type

Rock type

Cu %

Ag g/t

B0026814

344898

6304239

Float

Quartz Vein

8.26

45.43

B0026773

339110

6304495

Grab

Quartz Vein

5.62

225.00

B0026754

344966

6304389

Grab

Skarn

5.48

22.05

B0026857

344954

6304384

Grab

Siltstone

3.48

10.54

B0026774

339111

6304505

Float

Quartz Vein

2.96

483.00

B0026753

344922

6304375

Float

M. Magnetite

2.44

8.43

B0026893

344950

6304260

Grab

Skarn

1.58

13.21

B0026888

338383

6306132

Grab

Andesite

0.55

5.95

B0026778

337571

6310667

Grab

M. Sulphide

0.50

1.33

B0026875

338510

6309136

Grab

Felsic dyke

0.31

2.21

B0026887

338552

6306074

Float

Skarn

0.28

1.32

B0026766

338654

6309149

Grab

Siltstone

0.27

0.13

B0026767

338204

6308767

Grab

Quartz Vein

0.27

1.67

B0026802

344799

6304219

Float

Skarn

0.26

1.64

Encouraged by results, the Company is planning further sampling, mapping and prospecting of the area for 2021, focusing on the "Hammer" target, the newly discovered skarn, areas of high copper and other recently unglaciated terrain. Sugar remains mostly unexplored and very prospective for high-grade mineralization.

Gordon Lam, President and CEO of Etruscus, commented, "We've been quietly developing Sugar while Rock & Roll has been taking centre stage. But Sugar is likely to become more prominent this year with the Hammer target nearly ready to be drilled while other areas are also demonstrating strong prospectivity for copper-rich mineralization."

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.

QA/QC and Analytical Procedures

The Company has adopted a rigorous quality assurance and quality control ("QA/QC") program to ensure best practices in sampling both diamond drill core and surface rock chip samples of approximately 1 kg in weight. The Company's samples and drill core are being assayed by MSA LABS which has facilities in Terrance and Langley, BC. and is independent of the Company. All rock samples were crushed to 70% pass 2mm fraction, and then a 250g split was pulverized to better than 85% passed a 75-micros screen. The geochemical analyses were performed by MSA LABS using multi-element aqua-regia digestion ICP-MS package (IMS-111). Gold was analyzed by fire assay technique FAS-114. Higher gold grades (>3 g/t) were analyzed by fire assay. MSA LABS is an independent provider of geochemical laboratory services for the exploration and mining industries is an ISO 17025 (Testing and Calibration) and ISO 9001 (Quality Management System) accredited laboratory. In addition to the lab's internal QA/QC program, the Company inserted 10% lab certified standards, blanks and field duplicates into the overall sampling stream.

* Grab samples are selectively collected and are therefore not representative of all mineralization hosted on the property.

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, "ETRUF" on the OTC markets and "ERR" on the Frankfurt Stock Exchange and has 28,514,306 common shares issued and outstanding.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This Press Release may contain statements which constitute 'forward-looking' statements, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including quarterly and annual Management's Discussion and Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Etruscus Resources Corp.

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