FEASIBILITY TEAM FOR SAMIRA HILL NOW IN PLACE
October 19, 1998, Dartmouth, Nova Scotia - Etruscan Resources Inc. (EET.TSE) announced today that Mineral Resources Development Inc. (MRDI) of San Mateo, California, has been chosen to lead the Feasibility Study on the Samira Hill gold deposit in Niger, West Africa. Kappes, Cassiday & Associates of Reno, Nevada, have also been engaged to design the heap leach process facility and to oversee all metallurgical test work. Jacques Whitford and Associates of Dartmouth, Nova Scotia, have been engaged to address all environmental and hydrological aspects of the project and Associates for Global Change of Washington, D.C., have been engaged to study the social impacts of the project.
The Company also announced that a drilling program is now underway, which is designed to bring the existing oxide resource into the measured category based on 25-meter centres. To date, 12 drill holes totaling 1,238 meters have been completed. One core rig and one reverse circulation rig are currently on site and drilling. Drilling is expected to be completed by the end of November.
Column leach tests on near surface oxide material have yielded recoveries in excess of 90%. Larger scale column tests are presently being carried out on the oxide material, together with extensive bottle roll testing of the transitional oxide-sulfide material, in order to define the leach characteristics of the entire ore body.
The Feasibility Study is targeted to be completed during the first quarter of 1999. Construction is anticipated to begin in the second quarter of 1999 with gold production scheduled to commence in the fourth quarter of 1999.
Etruscan is directly, and through its subsidiaries, involved in the acquisition, exploration and development of mineral properties in West Africa. The common shares of Etruscan are traded on The Toronto Stock Exchange and The Vancouver Stock Exchange under the symbol "EET".
ON BEHALF OF THE BOARD OF DIRECTORS OF ETRUSCAN RESOURCES INC.
Gerald J. McConnell
Chief Executive Officer
For more information, contact:
Gerald J. McConnell, Dartmouth, Nova Scotia (902) 468-9270
Rick Van Nieuwenhuyse, President, Los Gatos, California, USA, (408) 395-1169
THE VANCOUVER STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED
OF THE CONTENTS OF THIS NEWS RELEASE
More extensive information on Etruscan can be found on our home page at etruscan.com
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