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Gold/Mining/Energy : Etruscan Enterprises Ltd

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To: Brantz who wrote (216)	6/26/1998 7:55:00 AM
From: Buckey	Read Replies (1) of 235

WE have NEWS - NEW GOLD - I will post but format is bad Etruscan Resources Inc EET Shares issued 35,862,467 1998-06-25 close $3.75 Friday Jun 26 1998 Mr. Rick Van Nieuwenhuyse reports Etruscan Resources has made a new gold discovery at Songori on the Datambi permit in Burkina Faso. The Songori target has a minimum strike length of 300 metres as defined by auger drilling and a potential strike length of 1 kilometre as defined by surface sampling. The first eight follow-up deep auger holes have confirmed the zone to a vertical depth of 25 metres with an indicated width of 70 metres. Seven of the holes ended in gold mineralization. The auger drills are limited to a vertical depth of 25 metres. The core of the anomaly is defined by 18 shallow auger samples over a 300 metre strike length having gold concentrations between 0.56 and 5.90 grams per tonne which average 2.43 grams per tonne. Shallow augers provide samples of saprolite taken approximately 1 metre beneath the laterite crust. Deep augers provide continuous sampling of saprolite at 1.5 metre intervals to an average vertical depth of 25 metres. Gold concentrations between 0.1 and 6.10 grams per tonne have been intersected in the deep auger holes. The eight inclined deep auger holes were drilled at an inclination of -50 degrees along a single fence line and returned the following average grades in the mineralized zone: Hole From To Width Gold No. (m) (m) (m) (g/t) DSAM-4 26.0 30.5 4.5 1.44 DSAM-5 3.5 30.5 27.0 1.61 including 12.5 23.0 10.5 2.97 DSAM-6 0.5 30.5 30.0 1.67 including 5.0 12.5 7.5 3.62 DSAM-7 36.5 44.0 7.5 1.39 DSAM-8 0.5 27.5 27.0 0.54 DSAM-9 2.0 35.0 33.0 1.52 including 2.0 15.5 13.5 2.01 DSAM-10 2.0 26.0 24.0 1.02 including 18.5 26.0 7.5 1.63 DSAM-11 3.5 8.0 4.5 0.58 All samples were analyzed by SGS Laboratories in Niamey by 50 gram wet geochemical techniques. Etruscan has had a quality control program in place for four years in Africa to monitor the results coming from all labs which includes the insertion of certified standards, blanks and duplicates. In addition, the mineralized samples are being checked at SGS using 50 gram fire assay techniques. Songori represents a blind geochemical discovery in an area of extensive sand cover with little outcrop. The anomaly was selected for follow-up based on encouraging results from a reconnaissance rotary air blast hole (RAB No. 54) which intersected anomalous gold to a vertical depth of 70 metres. The deep auger holes indicate that the mineralization is evenly distributed across the zone with an average grade of 1.3 grams per tonne. Mineralization is hosted by sedimentary rocks similar to those found at the Samira deposit on the adjacent Tiawa permit in Niger. Geologists report that the mineralized sedimentary horizon continues along strike to the northwest for a distance of 1 kilometre as evidenced by a number of orpailleur pits along the trend. These results are considered encouraging and additional auger drilling is being carried out in a series of fences comprising 22 inclined holes to delineate the extent of the zone from surface to 25 metres depth. A 2,000 metre reverse circulation drilling program comprising 12 holes will test the Songori target at depth. Etruscan, through its wholly owned subsidiary, African GeoMin Mining Development, holds a 45 per cent interest in BF GeoMin Mining Development, the holder of the 269 square kilometre Datambi concession, with an option to purchase 100 per cent interest

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