Etruscan exploring gold bet in Nevada

Exploration work worth $275,000 will be spent by Etruscan Enterprises of Vancouver on a gold property in Nevada, President R.J. MacNeill reports.

The program, comprising i.p. surveys, drilling and additional geophysical and geochemical surveys, will earn Etruscan, formerly Bathurst Norsemines, a 50% interest in the 26-claim Gabel Canyon property located in Eureka Cty. in the Cortez gold belt. Upon earning its 50% interest, Etruscan will become the project operator.

According to Mr MacNeill, an anomaly 1,200 ft by 200 ft with an inferred sulphide zone at 550 ft to 600 ft has been discovered on the property. Also, an additional parallel anomaly has been identified on a fracture zone.

In addition to the gold property, Etruscan owns 47.2% of the large Hackett River copper-lead-zinc- gold-silver property in the Northwest Territories, 300 mi northeast of Yellowknife. Owner of 52.2% of this property is Cominco Ltd., which has the right to increase its interest to 60% by spending $2.2 million before Dec 31, 1999.

Several of the Hackett River mineral deposits are likely amenable to open pit mining, Etruscan reports. Depths of the ore zones have not been established. Proven and probable reserves currently stand at 16.6 million tons, with possible reserves adding another five million tons.