- MP23-03 drilled 1.3 g/t Au over 17.3 metres (or "m") including 3.0 g/t Au over 4.9 m, demonstrating a broad zone of anomalous gold mineralization (Click here to view Cross Section);
- MP23-04, located 120 m northeast of hole MP23-03, intercepted 1.2 g/t Au over 11.4 m including 3.4 g/t Au over 2.5 m. This is interpreted to be the same zone as encountered in hole MP23-03 representing real potential for gold mineralization between the two holes. These are the best gold intercepts to date on the Property with room for expansion (Click Here to View Plan Map);
- All significant intercepts are within 100 m of the surface with all mineralization open to depth as well as along strike;
- Due to successful results from the Company's Phase 1 Program, the Company has now completed the second anniversary payment under the Lewis option agreement and looks forward to a Phase 2 drill program in the coming months; and
- Future drilling will seek to find higher grade shoots and expand the strike and depth of known mineralization.
Figure 1 – 2023 Assay Table
Hole ID | From (m) | To (m) | Interval (m) | Au g/t |
*MP23-01A | 43.50 | 54.00 | 10.50 | 0.63 |
Including | 52.00 | 54.00 | 2.00 | 3.09 |
*MP23-02A | 66.00 | 68.00 | 2.00 | 0.56 |
MP23-03 | 25.70 | 67.00 | 41.30 | 0.65 |
Including | 25.70 | 43.00 | 17.30 | 1.29 |
Including | 38.10 | 43.00 | 4.90 | 2.98 |
MP23-04 | 12.60 | 24.00 | 11.40 | 1.23 |
Including | 16.50 | 19.00 | 2.50 | 3.39 |
MP23-05 | 41.00 | 43.00 | 2.00 | 0.27 |
and | 84.35 | 85.00 | 0.65 | 0.52 |
MP23-06 | 56.00 | 59.00 | 3.00 | 0.76 |
Including | 56.00 | 57.00 | 1.00 | 1.92 |
MP23-07 | 48.50 | 67.70 | 19.20 | 0.39 |
Including | 48.50 | 50.00 | 1.50 | 1.37 |
and | 62.00 | 65.00 | 3.00 | 0.95 |
MP23-08 | 10.00 | 37.00 | 27.00 | 0.23 |
Including | 32.85 | 37.00 | 4.15 | 0.70 |
Including | 32.85 | 33.35 | 0.50 | 3.71 |
*Holes MP23-01 & MP23-02 were abandoned due to operational issues |
At 1.4 km in length, the gold mineralized Corsair Trend was previously established by Noranda in 1990 but failed to demonstrate the grades and width highlighted in this year's Program. Drill holes MP23-03 and MP23-04, collared within an 800 m gap along the northeast striking Corsair Trend, intercepted better gold mineralization than any previous drill hole on the Lewis Property, leaving significant room for further expansion. Multi- element analysis of the drill core has also revealed a well mineralized stibnite vein/breccia that returned 4.56% antimony (or "Sb") over a 1 m interval in MP23-04. The Canadian government defines antimony as one of a suite of critical metals needed for a competitive and sustainable economy, and for reference the
The Corsair Trend is a structurally controlled corridor with a strong chargeability anomaly related to elevated sulphide content including arsenopyrite, pyrite, and stibnite identified in drill core. The trend itself is likely correlative in geological timing with the structural deformation and northeast trends of New Found Gold Corp.'s Keats Zone Discovery. Follow-up drilling is necessary to define the full extent of the trend as it remains sparsely drilled and open in all directions.
The northeast striking Hurricane Trend is a chargeability anomaly that measures 1.7 km in length and strikes across Etruscus' and neighbouring Exploits Discovery Corp.'s claims with well mineralized intervals drilled on both sides of the Property boundary. Drill hole MP23-07 was designed to target below the historic Noranda hole 9 providing geological and structural information enabling a better understanding of the mineralized Hurricane Trend. This northern most drill hole returned a broad 19.2 m zone of 0.39 g/t Au containing multiple anomalous gold samples and demonstrates an open system with significant room for expansion. Drill hole MP23-06, whilst intercepting anomalous gold, appears to have drilled north of the target where a 50 m step back to the south is expected to intercept the trend in future drill programs.
Drill holes 01A, 02A and 05 were primarily designed to target the Peyton Trend, a north-south striking chargeability anomaly identified in both historic and more recent IP surveys. All three holes intercepted anomalous gold values with a highlight of 3.1 g/t Au over 2.0 m in MP23-01A. Mineralization is similar to the holes drilled on the Corsair Trend, however, with lower amounts of sulphide and alteration being identified. Initial results suggest the best mineralized trends are northeast striking which may leave the Peyton Trend as a less significant structure for mineralization although further work is still needed to confirm this.
Next steps
The use of IP inversions has allowed the team to successfully improve on the work of previous operators and validates the technology as an important targeting tool on this unique Property. Identification of at least two parallel mineralized trends, each with over 1 km of strike length, provides significant room for expansion. With a shallow dip and mineralization coming to surface, the Company eagerly anticipates the follow-up work program to build on the results and unlock the Property's full potential.
Etruscus is traded under the symbol "ETR" on the Canadian Securities Exchange, "ETRUF" on the OTC and "ERR" on the
The Company has adopted a rigorous quality assurance and quality control ("QA/QC") program to ensure best practices when sampling diamond drill core. At the Lewis Property, the Company's drill core is being assayed by
Etruscus would like to acknowledge that certain financial support was provided by the
Sandeman H.A.I. et al. 2018; Beaver Brook Antimony Mine Revisited: an update on operations and new structural and geological observations.
Technical aspects of this news release have been reviewed and approved by
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