VANCOUVER, BC, June 13, 2024 /CNW/ - Etruscus Resources Corp. (CSE: ETR) (OTC: ETRUF) (FSE: ERR) (the "Company" or "Etruscus") reports on recent exploration activities surrounding the Company's 100% owned Rock & Roll property (the "Property") located in the prolific Golden Triangle, British Columbia. The upcoming exploration season will see the Company focus its attention on BC where recent staking activity and drill plan announcements by other companies in the area have added a renewed excitement to the Golden Triangle. The priorities for Etruscus this year will focus on several high-value exploration targets on the Property that are primed for discovery.
Fiore Aliperti, Etruscus' President and CEO commented, "The recent staking activity surrounding the Rock & Roll property should excite our investors as it validates our long-held belief in the porphyry potential of this underexplored terrain. While glacial retreat presents opportunities for new exposure, it's expected that other discoveries will be made in this highly prospective part of the world, which will benefit us all. With commodity prices staying strong we see market sentiment remaining positive and investor confidence gaining traction." He added, "As the Company's plan for the upcoming season takes shape, it's fantastic to see an increase in scheduled exploration in our region. We look forward to getting back to the Property this summer to continue the development of the Discovery and Heather targets with the goal of drilling this season."
Regional Highlights:
- Skeena Resources staked 74,633 hectares (the Hoodoo Property) surrounding Rock & Roll on its West, North and East property borders, and plans to fly a large airborne survey before the exploration season begins;
- Skeena has budgeted a 14,000 m regional drilling program over the KSP and Hoodoo projects targeting areas highly prospective for alkalic porphyry deposits;
- Seabridge Gold announced a significant drill program of 15,000 m at their 100% owned Iskut Project with a large focus on the new Snip North porphyry discovery only 4 km from the Rock & Roll Property boundary;
- Continued work advancing the Galore Creek deposit has road construction 4 km to the north of Etruscus Property. Updated feasibility studies are ongoing; and
- Etruscus has been preparing for its 2024 exploration program that will include rock sampling and geophysical work followed by a plan to drill at the Discovery and the Heather Targets.
Long time Golden Triangle explorer and current owner of the Eskay Creek Deposit, Skeena Resources (TSX:SKE), recently completed staking 74,633 hectares ("ha") around the Rock and Roll in one of the largest land acquisitions in the region in recent years (See map above). Known as the Hoodoo Property, this claim block covers an expansive area of underexplored terrain which surrounds a large portion of Rock & Roll and exhibits much of the same geology. This new claim block will be the focus of a large regional exploration program that Skeena is planning to execute in 2024, having announced up to 14,000 m of drilling across the Hoodoo and the KSP properties. These claims were staked for their strong potential for alkalic porphyries like the one responsible for the Galore Creek Deposit, owned in a 50:50 partnership between Teck Resources and Newmont and located only 16 km away from Rock & Roll.
"(The Golden Triangle) is a Tier-1 district that we'll be operating in for the next century," states Tom Palmer, President and CEO of Newmont Mining - BMO global metals and mining conference 2024.
In 2023, Seabridge Gold (TSX:SEA) reported exploration discoveries at the Snip North target which is located 4 km from the Rock & Roll's eastern border. Deep drilling revealed upper-level porphyry indicators including strong gold results returning 277 m of 0.8 g/t Au and 0.07% Cu from the discovery. Although Seabridge continues to work one of the largest undeveloped copper-gold resources in the world at the KSM trend, they have also announced approximately 15,000 m of drilling and a $12 million budget for the 2024 exploration season on the Iskut Property with focus on the Bronson Slope and Snip North targets.
Etruscus would also like to report that it has closed its previously announced $150,000 private placement (see press release May 30, 2024), by the issuance of 1,875,000 common shares at $0.08 per share. There were no warrants issued in the financing and no finders' fees.
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, including the shares issued in the aforementioned private placement.
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.
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 Exchange 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.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2024/13/c7355.html