Etruscus Resources Corp. [ETR-CSE; ETRUF-OTC; ERR-FSE] reported results from the 2021 field exploration program at the 100%-optioned Lewis property located adjacent to New Found Gold Corp.’s [NFG-TSXV; NFGC-NYSE American] Queensway gold project in the Gander gold belt of central Newfoundland.
The program was designed to both identify new targets and help prioritize previously discovered showings by past operator Noranda Resources. The program included a total of 1,922 soil samples, 60 rock samples and over 100 geological mapping points. As a result, the company’s exploration efforts have identified several new high-grade gold targets. These targets will be further assessed with a geophysical induced-polarization and magnetics survey this spring, with a goal of defining drill targets for the upcoming 2022 drill program.
Highlights include 20 of the 60 rock samples taken returning assays over 1 g/t gold with 5 returning higher than 10 g/t gold with standout assays as high as 24.2 g/t gold. Etrustcus has now identified a 1.3 km extension to the historically mapped 2 km NW Corsair Trend. This trend is anomalous for Au, Sb and As and can now be traced approximately 3.3 km across the property.
The company discovered multiple anomalous areas with elevated gold and associated pathfinders along the NNW striking Mount Peyton Linear and a historic trench, that has never been drill tested, revealed 3 rock samples (out of 6) that all assayed above 20 g/t gold.
Fiore Aliperti, President and CEO, commented, “The Lewis property, acquired by Etruscus in June of 2021, was selected due to the historic discovery of gold mineralization by Noranda Resources along with its prime location within a burgeoning exploration district, adjacent to New Found Gold. The historic work by Noranda had demonstrated anomalous gold in almost all holes drilled. In fact, reports covering the work highlighted Noranda’s intention to return to the Property and expand on that initial drill program.”
He added, “The compilation of historic data combined with the results from our 2021 field program has enabled our geological team to identify untested drill targets, even at this early stage of the exploration process. We are really excited to return to the Property in the coming weeks.”
The 2021 soil program sought to expand the areas of previously identified gold anomalies beyond the scope of the historical data which focused on the central portion of the property. The combined 2021 soil results and historical soil data has produced a data set that significantly narrows the areas of interest where Etruscus will be focussing its 2022 exploration program efforts. Once the geophysical survey is completed Etruscus will be well positioned to identify and prioritize drill targets for a summer drill program in 2022.
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