Etruscan drilling Gabel Canyon bet

A second phase of drilling is being undertaken by Etruscan Enterprises on its Gabel Canyon project in Eureka Cty., Nev. The company can earn a 50% interest by spending $275,000 on the property.

Two holes have been drilled on an area where geophysical surveys have located an anomalous sulphide zone about 1,900 ft long and 300 ft in width. Results will determine the extent of the program. In 1987, Etruscan drilled eight shallow holes, one with a 20-ft intersection of 0.02 oz gold.

Cominco Resources recently encountered high grade material below its existing Buckhorn mine, located north of Gabel Canyon. Etruscan believes its target exhibits characteristics similar to those of the discovery at Buckhorn.

The company anticipates raising between $250,000 to $300,000 for the program in an underwriting to be completed shortly.