VANCOUVER, British Columbia, May 12, 2023 (GLOBE NEWSWIRE) -- Etruscus Resources Corp. (CSE:ETR) (FSE:ERR) (OTCPink:ETRUF) is preparing for its upcoming 2023 drill program at its Lewis Property in Newfoundland. The road accessible Lewis property is located 5 km south of the Trans Canada Highway in the Gander Gold Belt, approximately 10 km west of New Found Gold’s Keats Zone discovery.
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The Lewis property consists of 103 claims in two claim blocks totaling 2568 hectares in the Exploits Sub-zone of Newfoundland. The company is finalizing discussions with all key service providers and expects to mobilize crews to the property in the coming weeks, with the commencement of drilling in early May.
During the 2022 exploration season, Etruscus completed a comprehensive geophysical survey that identified approximately 4.6 km of highly chargeable structures that when combined with soil and rock sampling, confirm multiple gold mineralized trends. This data outlined large untested drill targets in an area which has produced numerous outcrop samples and glacial float boulders of greater than 20 g/t gold.
The company also has the 100%-owned Rock & Roll property, which along with its 100%-owned Sugar property total 27,880 hectares near the past producing Snip mine in Northwest B.C.'s prolific Golden Triangle.
The company is currently raising gross proceeds of up to $1,000,000 from a combination of flow-through and non-flow-through units. The company is issuing up to 6,600,000 non-flow-through units priced at $0.15 per unit, with each unit consisting of 1 share and one-half a warrant with each full warrant exercisable at $0.22 for 24 months. The company is also issuing up to 5,500,000 flow-through units priced at $0.18 per unit, with each unit consisting of 1 share and one-half a warrant with each full warrant exercisable at $0.27 for 24 months. The company has closed the first $542,000, with some flow-through and regular units still available.
The shares are currently trading at $0.15. For more information, please visit the company’s website www.EtruscusResources.com, or contact Fiore Aliperti, President and CEO, at 604-336-9088 or by email at info@EtruscusResources.com.
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