Etruscus Resources Corp. (CSE:ETR) (FSE:ERR) (OTCPink:ETRUF), a Vancouver-based exploration company, has announced a non-brokered private placement. The company is looking to raise gross proceeds of up to $1,000,000 from a combination of flow-through and non-flow-through units. The net proceeds of the flow-through offering will be used for continued exploration programs at the company's 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, and at the Lewis Property in central Newfoundland, for which the company has an option to acquire a 100% interest.
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Etruscus Resources Corp. (CSE:ETR) (FSE:ERR) (OTCPink:ETRUF), a Vancouver-based exploration company, has announced a non-brokered private placement.
The company is looking to raise gross proceeds of up to $1,000,000 from a combination of flow-through and non-flow-through units.
The company will issue 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 will also issue 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 total combination is limited to $1,000,000.
The shares are currently trading at $0.155.
The net proceeds of the flow-through offering will be used for continued exploration programs at the company's 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, and at the Lewis Property in central Newfoundland, for which the company has an option to acquire a 100% interest.
Net proceeds of the non-flow-through offering to be used for both exploration and general working capital.
The company recently announced final results from its 2022 field exploration program at the Rock & Roll Property.
Results from a property wide sampling program have also returned a high-grade sample of 51.3 g/t Au along with identifying a new molybdenum porphyry showing approximately 5 km southwest of Heather.
Results from the 3.75 line-km induced-polarization survey over the Heather target confirmed the presence of two chargeability anomalies with rock sampling in the same area returning multiple high-grade gold assays.
Stephen Wetherup, VP Exploration, stated: "The final results from our 2022 exploration program have capped off a fantastic year for the Etruscus geological team. Not only did this final stage of work demonstrate the existence of parallel high-grade gold structures at the Heather target, but it also led to the discovery of a new molybdenum-copper porphyry showing. There are not many exploration companies with a six-million-dollar market cap that can demonstrate a solid pipeline of drill ready targets in two of Canada's most promising mining jurisdictions. This gives us a great chance of success and a real sense of optimism for our upcoming 2023 season."
During the 2022 exploration season on the Lewis Property, located 10 km west of New Found Gold’s Keats Zone, 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.
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.
