Youga satellite prospects yield positive results, including 19 meters of 4.0
grams per tonne gold
HALIFAX, July 7 /CNW/ - Etruscan Resources Inc. (EET.TSX) reported that its ongoing reverse-circulation (RC) and core drill program on the Zergoré and A2NE Prospects has identified significant high grade zones within the Youga Mining Permit in Burkina Faso.
The best intercept at Zergoré returned 19 meters of 4.0 grams per tonne gold, including 1 meter of 10.0 grams per tonne gold. At A2NE the best intercept returned 21 meters of 2.0 grams per tonne gold, including 4 meters of 5.5 grams per tonne gold.
The Zergoré and A2NE Prospects are located in the eastern and north-eastern parts of the Youga Mining Permit, respectively and less than three kilometers from Etruscan's Youga Gold Mine (Figure 1 and 2). (To access figures directly please click on the following URL: http://files.newswire.ca/423/July_7_2010_figures.pdf)
A total of 9,680m (126 RC holes) were drilled, highlights of the program include:
ZERGORE Prospect (Youga Mining Permit)
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Section Hole From To Length Au Grade
Number ID m m m g/t
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100 N YZRC-066 58 96 38 1.9
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incl. 74 75 1 7.0
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150 N YZRC-067 17 19 2 9.4
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150 N YZRC-069 41 54 13 2.5
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incl. 49 51 2 4.6
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and 61 72 11 1.1
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incl. 63 65 2 2.1
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375 N YZRC-049 0 14 14 2.7
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incl. 6 10 4 4.8
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and 56 68 12 1.6
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incl. 60 61 1 3.8
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600 N YZRC-038 24 43 19 2.9
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incl. 37 40 3 4.3
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625 N YZRC-026 25 43 18 2.7
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incl. 33 35 2 11.5
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625 N YZRC-027 46 66 20 2.6
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incl. 55 63 8 4.3
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625 N YZRC-084 57 76 19 4.0
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incl. 57 63 6 6.0
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and 66 67 1 10.0
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650 N YZRC-085 37 62 25 2.2
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incl. 40 44 4 5.4
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A2NE Prospect (Youga Mining Permit)
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Section Hole From To Length Au Grade
Number ID m m m g/t
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1060 E YNRC-003 8 28 20 1.8
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incl. 18 22 4 4.6
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1085 E YNRC-005 2 23 21 2.0
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incl. 6 10 4 5.5
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1135 E YNRC-008 7 18 11 2.6
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incl. 15 18 3 5.0
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1035 E YNRC-014 11 27 16 1.8
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incl. 26 27 1 16.4
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1060 E YNRC-020 35 45 10 2.8
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incl. 35 39 4 5.3
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All intervals are reported as downhole lengths and additional information is required to determine true widths.
Etruscan's recent definition drilling program at Zergoré identified gold mineralization in 3 different zones (see Figure 3). The north and north-east oriented mineralization is hosted by folded and sheared Birimian pelitic metasediments. An additional 3500m RC drill program is planned at Zergoré to further establish the continuity between the mineralized zones.
The first phase exloration program at A2NE (including trench and RC drilling) indicates significant gold mineralization in quartz veins hosted by east-west oriented shear fractures within a Birimian volcano-sedimentary sequence. The gold mineralization is open laterally and to depth (see Figure 4). Additional infill drilling (1000m combined RC and core) together with exploration drilling to the east and west (1000m RC drilling) is planned.
The exploration results at Zergoré and A2NE within the Youga Mining Permit show that gold mineralizing systems are not restricted to the clastic arenaceous sequences of the Tarkwaian, but also occur in the surrounding volcano-sedimentary formations of the Birimian Basement (see Figure 2).
Dr. Sally Eyre, President and CEO, stated "the focused drill campaign which commenced in February of this year, has produced encouraging results from both the Zergoré and A2NE prospects. I anticipate that the results will enable us to increase the quantity and quality of mineral resource within the Youga Mining Permit."
Results of the on-going drill program at Zergoré and A2NE will be incorporated into an updated resource estimation to be announced in the near future.
Additional ounces have already been developed on the Nanga and Tail prospects (Etruscan news release, November 2008), which are situated within 2.5 kilometers of the existing Youga gold mill and processing plant (Figure 2). Additional satellite resource potential remains to be drilled at two other gold occurrences, situated west of and within three kilometers of the Youga gold mill and processing facility, namely the Leduc and A2 West Zones 4/5. (Figure 2).
All sample preparations and standard 50-gram gold fire assays were performed by SGS Laboratories, Ouagadougou, Burkina Faso. Etruscan consistently employs a rigorous quality control and assurance program comprising regular insertion of certified reference standards, blanks and duplicates. K. Kirk Woodman, P.Geo., and Chief Geologist is the Qualified Person overseeing Etruscan's exploration gold projects in West Africa and has reviewed this press release.
About Etruscan Resources Inc.
Etruscan Resources Inc. is a gold-focused Canadian mining company with dominant land positions in West Africa. The Company's principal mine projects include the Youga Gold Mine in Burkina Faso; the Agbaou Gold Project in Côte d'Ivoire; and the Finkolo Gold Project in Mali. Exploration programs and initiatives are on-going in Burkina Faso, Mali, Côte d'Ivoire, Ghana and Namibia. The common shares of Etruscan are traded on the Toronto Stock Exchange under the symbol "EET".
More extensive information on Etruscan can be found on its home page at 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
For further information: Renmark Financial Communications Inc.: Maurice Dagenais, [email protected]; Barry Mire, [email protected], Tel: (514) 939-3989, (416) 644-2020; Etruscan Resources Inc.: Dr. Sally Eyre, President and CEO, [email protected], Tel: (902) 832-6700, Fax: (902) 832-6702
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