Etruscus Resources (CSE:ETR, OTC:ETRUF) Corp has welcomed last year's exploration results from its Lewis property in the Gander belt in Newfoundland, which identified several new high-grade gold targets ahead of a potential drill program in 2022.
The work included 1,922 soil samples, 60 rock samples and more than 100 geological mapping points. Notably, 20 of the 60 rock samples returned assays, which showed over 1 gram per ton (g/t) of the yellow metal, while five returned more than 10 g/t gold. A standout assay was 24.2 g/t of the precious metal.
"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," Etruscus CEO Fiore Aliperti told investors in a statement.
READ: Etruscus Resources reveals positive results from its field exploration program at the Rock & Roll property in British Columbia's Golden Triangle
"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.
This historic data combined with Etruscus' 2021 field program has enabled the geological team to identify untested drill targets, said Aliperti, adding that the company was "really excited" to return to Lewis in "coming weeks".
Soil sampling has also resulted in the firm now having identified a 1.3 kilometre (km) extension to the historically mapped 2 km north-west Corsair trend.
This trend is anomalous for gold, antimony and arsenic and can now be traced for around 3.3 km across the project, the firm said.
In addition, Etruscus said it has uncovered multiple anomalous areas with elevated gold and associated pathfinders along the north-northwest Mount Peyton Linear trend.
All the targets identified last year will be further assessed with a geophysical induced-polarization (IP) and magnetics survey this spring in a bid to define drill targets for this year's upcoming drill program, the company added.
Etruscus’ assets include the Lewis property in central Newfoundland, which is under option to acquire a 100% interest, and the wholly-owned Rock & Roll and Sugar properties comprising 27,880 hectares near the past-producing Snip mine in British Columbia's prolific Golden Triangle.
Contact the author at giles@proactiveinvestors.com