Le Lézard
Classified in: Mining industry
Subject: OFR

Etruscus Resources Corp. Commences Trading on the CSE Under Ticker "ETR"


VANCOUVER, Jan. 15, 2019 /CNW/ - Etruscus Resources Corp. (CSE: ETR) (the "Company" or "Etruscus"), a Vancouver-based junior exploration company with a focus on the development of its 100%-owned Rock & Roll project, is pleased to announce that its common shares commenced trading on Tuesday, January 15, 2019 on the Canadian Securities Exchange ("CSE") under the ticker symbol "ETR".

The 5,309 hectare Rock & Roll Project sits within the prolific Golden Triangle in northwestern British Columbia, Canada.  It is located 7km northwest of the past-producing Snip Mine. The Property hosts a precious metal-rich, volcanogenic massive sulphide (VMS) deposit that displays similarities to other precious metal-rich deposits such as Eskay Creek, Greens Creek, and other deposits in the Cordillera. The mineralization occurs within a continuous layer that is folded into a shallow bowl-shape.

The open pit constrained Rock and Roll deposit hosts a NI 43-101 compliant Inferred Resource (at a base cut-off grade of 0.5 g/t gold equivalent (AuEq*)) totalling 2,015,000 tonnes grading 2.63 g/t AuEq*. See table below:

Rock and Roll Inferred Mineral Resource Estimate

(Cut-off Grade 0.5 g/t AuEq)

Resource

Grade

AuEq 
(g/t)

Inferred

2,015,000

Tonnes

Au (g/t)

Ag (g/t)

Cu (%)

Pb (%)

Zn (%)

0.71

87.1

0.23

0.23

0.98

2.63

Contained
Metal

46,000
Ozs

5,643,000
Ozs

10,246,000
Lbs

10,180,000
Lbs

43,503,000
Lbs

170,000
Ozs


*Mineral resources are reported at a base case cut-off grade of 0.5 g/t AuEq considering metal prices in USD of $1,250.00/oz Au, $17.00/oz Ag, $3.00/lb Cu, $1.00/lb Pb and $1.20/lb Zn, and assuming metal recoveries of 95% for zinc, 80% for lead, 90% for copper, 85% for silver and 80% for gold or 85% for AuEq. Metallurgical recoveries will be adjusted with future metallurgical testing. AuEq = (Au g/t * 0.8) + (Ag g/t * 0.012) + (Cu% * 1.48) + (Pb% * 0.44) + (Zn% * 0.63).

 

A National Instrument 43-101 Technical Report including the Inferred Mineral Resource Estimate for the Rock and Roll deposit contained in this news release has been completed by SGS Canada and is filed on SEDAR under Etruscus' profile.

Gordon Lam, Etruscus President & CEO, stated "The Etruscus team has been working tirelessly to achieve this listing. We are very excited to present our company to the market." He went on to add, "The Rock & Roll Property is an exciting project and one that has seen little attention over the last decade despite its exceptional location in the metal-rich Golden Triangle. The area surrounding the Rock & Roll Property belonging to Seabridge Gold and Skeena Resources has recently seen major investment including multi-million dollar exploration programs & plans for improvements in infrastructure. With approximately $1.5 million in the bank, we plan to strategically explore the Rock & Roll Property with the goal of expanding our current Inferred Resource Estimate."

Qualified Person

All scientific and technical data contained in this press release has been approved and verified by Allan Armitage Ph.D, P.Geo. ("Armitage") of SGS Canada. Armitage is an independent Qualified Person, and is responsible for the preparation of the technical report.

About the Rock & Roll Property

The property was originally staked in 1988 on behalf of the Prime Resources Group-one of Murray Pezim's companies.

In 1990, exploration (line cutting, geochemical soil sampling, mapping, prospecting, ground geophysical surveys and trenching) led to the discovery of polymetallic, silver-gold-zinc-lead-copper massive sulphide mineralization that became known as the Black Dog Zone. Notably, the surface expression of the Black Dog Zone is readily apparent in the geochemical soil sample and ground geophysical data.

In the period immediately following the discovery of the Black Dog Showing, Prime drilled 94 holes, totalling 11,063.2 metres in length, in the Black Dog and SRV zone area. Subsequently, 20 holes totalling 3321.6 meters were drilled by several junior companies, mainly to expand the known mineralized zones. No work has been done on the property since it was returned to the vendors in 2009. Rock & Roll was then acquired by Etruscus in early 2018.

About Etruscus

Etruscus Resources Corp. is a Vancouver-based exploration company focused on the development of its 100%-owned Rock & Roll Property situated in northwest British Columbia's prolific Golden Triangle. Etruscus trades under the symbol ETR on the Canadian Securities Exchange and currently has 19,094,001 shares issued and outstanding.

On behalf of the Board of Directors:

/s/ "Gordon Lam"
Chief Executive Officer, President and Director

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.


These press releases may also interest you

at 03:50
Ecora Resources PLC (LSE:ECOR) announces that on 27 March 2024, it purchased 195,000 ordinary shares of 2p each in the Company (the "Shares") on the London Stock Exchange through Peel Hunt LLP, in accordance with the terms of its share...

at 03:05
Caledonia Mining Corporation Plc ("Caledonia" or the "Company") is pleased to announce that the board of directors has declared a quarterly dividend of 14 United States cents (US$0.14) on each of the Company's shares. The relevant dates relating to...

at 03:05
Nano One® Materials Corp. ("Nano One" or the...

at 03:00
Caledonia Mining Corporation Plc ("Caledonia" or the "Company")  announces its operating and financial results for the year ended December 31, 2023 (the "Year"). Further information on the financial and operating results for the Year and the quarter...

27 mar 2024
For many people, the city of Ningbo may not sound as well-known as metropolis such as Beijing and Shanghai in China, but it may be closer to the daily life: the Chinese-made hardware tools, rice cookers and even new energy vehicles people bought are...

27 mar 2024
Jereh made waves at the 24th China International Petroleum & Petrochemical Technology and Equipment Exhibition (cippe2024) in Beijing with their showcase of cutting-edge innovations under the theme "Low Carbon Tech Smart Exploitation Solutions."...



News published on and distributed by: