not sure if the following is march 15 this year, or last year, or the year before that - but watso is in a rush to get this "breaking news" out to all rsg holders.
Press Release Source: Etruscan Resources Inc. source
Finkolo's high grade mineralization extends over 1.7 kilometers Wednesday March 15, 11:30 am ET
WINDSOR, NS, March 15 /CNW/ - Etruscan Resources Inc. (EET.TSX) reported that it has received assays for an additional 24 reverse circulation holes drilled on the Finkolo Gold Project in Mali, West Africa. The majority of the holes drilled were on the northern end of the main mineralized zone at Tabakoroni and confirms that the zone remains open to the north with strong mineralization encountered in the northernmost hole, TAC-113 which intersected 12 meters at 7.8 grams per tonne gold including 2 meters at 26.7 grams per tonne gold. The Tabakoroni Zone has now been traced over a distance of 1.7 kilometers and is not only open to the north, but to the south and at depth. Gold mineralization at Tabakoroni is hosted by a well-defined volcano-sedimentary package that was outlined by an induced polarization survey over a distance of 6 kilometers and is believed to extend across the entire Finkolo Permit area, a distance of 20 kilometers.
The Finkolo Permit is contiguous with the Syama Permit of Resolute Mining Limited which hosts the 6.4 million ounce Syama gold mine. Highlights from the current round of drilling at Finkolo include:
TAC-104 23 meters at 7.9 grams per tonne (including 2 meters of 39.8 g/t)
TAC-107 15 meters at 7.6 grams per tonne (including 2 meters of 45.0 g/t)
TAC-108 16 meters at 4.2 grams per tonne
TAC-110 14 meters at 6.2 grams per tonne (including 3 meters of 21.9 g/t)
TAC-113 12 meters at 7.8 grams per tonne (including 2 meters of 26.7 g/t)
Prior to this drilling, the most northern intercept in the Tabakoroni Zone had been reported in hole TAD-015 which intersected 9 meters at 13.9 g/t Au including 2 meters at 33.5 g/t Au. Hole TAC-113 is situated 150 meters north of TAD-015. Hole TAC-113 ended in mineralization and will be extended using diamond drill equipment. The zone appears to be steepening to the north and additional drilling will be required to determine the true thickness of the mineralization. Significant intercepts from the most recent drilling are presented in Table 1. All gold analyses were performed by Analabs Laboratories at Morila, Mali using standard screen metallics assay procedures. K. Kirk Woodman P.Geo., Etruscan's Chief Project Geologist, is the Qualified Person overseeing Etruscan's exploration programs in West Africa.
Resolute Mining Limited has the option to earn a 50% interest in Etruscan's 100% interest in the Finkolo Permit by expending US$2,000,000 prior to October 1, 2006. Resolute has the right to earn an additional 10% interest by either contributing a further US$1,000,000 to expenditures on the permit or completing a feasibility study within two years following its initial earn-in. As of this date, Resolute is still in the process of earning its 50% interest.
Etruscan Positioned For Discoveries With Large West African Land Package
Over the past four years, Etruscan has executed on a strategy of acquiring major land positions on strategic gold belts in West Africa. Today, Etruscan possesses one of the largest exploration land positions in West Africa of any mining company of any size covering over 8,200 km2 in the countries of Mali, Burkina Faso, Niger, Ghana and Côte d'Ivoire.
In Mali, this strategy has been successfully implemented with Etruscan holding strategic land positions in two prolific gold producing areas, Mali West and Mali South.
In Mali West, Etruscan is exploring over 750 km2 immediately south and contiguous to the 12 million ounce Sadiola Mine and also holds properties along strike of Randgold's 8 million ounce Loulou Mine and Nevsun's 1 million ounce Segala/Tabakoto Mine.
In Mali South, Etruscan is exploring ten permits in addition to the on going exploration at Finkolo.
Etruscan Resources Inc. is a diversified Canadian junior mining company focused on acquiring dominant land positions in district scale gold and diamond belts within Africa. Etruscan has an aggressive exploration strategy and now holds strategic land positions in a number of gold belts covering over 8,200 km2 in five countries in West Africa. The Company also holds interests in lands covering over 5,000 km2 in the Ventersdorp alluvial diamond district in South Africa. The common shares of Etruscan are traded on The TSX Exchange under the symbol "EET". More extensive information on Etruscan can be found on its home page at http://www.etruscan.com.
This press release may contain certain forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements may include statements regarding exploration results and budgets, mineral reserve and resource estimates, work programs, capital expenditures, mine operating costs, production targets and timetables, future commercial production, strategic plans, market price of precious metals or other statements that are not statements of fact. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Various factors that may affect future results include, but are not limited to: fluctuations in market prices of precious metals; foreign currency exchange fluctuations; risks relating to mining exploration and development including reserve estimation and costs and timing of commercial production; requirements for additional financing; political and regulatory risks, and other risks and uncertainties described in the Company's annual information form filed with the Canadian Securities regulators on SEDAR (www.sedar.com). Accordingly, readers should not place undue reliance on forward-looking statements.
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS RELEASE
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