A recent agreement with Cominco (TSE) allows Etruscan Enterprises (VSE) to further explore the Hackett River base metal property, 200 km east of Minnova’s (Metall Mining) Izok Lake base metal deposit in the Northwest Territories.
The property, owned 46% by Etruscan and 54% by Cominco, is within an area of interest for diamond explorers and is also near Homestake Mining’s George Lake and Goose Lake iron-formation-type gold discoveries. The potential for diamond, gold or base metal discoveries has spurred a staking rush in the region, known as the Nose Lake-Beechy Lake area.
The Hackett River property was explored in the early 1970s, resulting in the discovery of a number of massive sulphide zones. The most significant is the Main zone, where four million tonnes grading 12.76% zinc, 1.38% lead, 0.30% copper, 0.46 gram gold and 231 grams silver per tonne were delineated to a vertical depth of 200 metres.
Etruscan will operate work programs provided it spends at least $400,000 annually and the programs meet Cominco’s approval. Etruscan recently announced details of a report indicating the property has the potential to contain kimberlite pipes, which can be a host rock for diamonds. A total of 11 such targets were identified, two of which were given a high priority for follow-up work.
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