RECENT DRILLING EXTENDS SAMIRA MAIN ZONE
November 13, 1998, Dartmouth, Nova Scotia -- Etruscan Resources Inc. (EET.TSE) announced today that recent drilling results at the Samira Hill Gold Project in Niger, West Africa, has extended the Main Zone at least 50 meters to the west beyond section 2600. These results have important exploration implications for the entire Samira Horizon.
This new extension of the Main Zone is the result of two factors: (1) the diabase dike that post dates mineralization is thinner than expected, and (2) a down-faulted block of the Samira Horizon has been intersected. Earlier drilling in this area was too shallow and missed the Samira Horizon drill target intersecting barren sedimentary and volcanic units instead (refer to sections 2575 and 2600). On Section 2600, reverse circulation drill hole 98RC-182 intersected 47.3m @ 3.53g\t (49.8m to 97.1m) including 4.6m @ 17.57g\t (91.0 to 95.6m). The hole ended in mineralization. On Section 2575, reverse circulation drill hole 98RC-181 intersected two mineralized intervals: 6.1m @ 2.95g\t (63.6m to 69.7m) and 22.9m @ 2.76g\t (83.4m to 106.3m). A complete list of the recent results are reported in Tables 1 and 2.
The new geologic interpretation with the down dropped block of the Samira Horizon has important implications for possible additional mineralization on the other side of the diabase dike in the Long Tom South target area. Previously, only shallow drilling had been done in this area. Additional holes have been completed that have intersected significant intersections of the Samira Horizon out to Section 2750. Assays are pending for these holes. Additional drilling is underway to determine the size and extent of the new zone as well as to explore for possible extensions in the Long Tom South and East Zone target areas.
Management is very pleased with the results of the drill program to date. The drilling not only demonstrates the continuity of mineralization in the Samira Hill Gold Project (refer to Section 2450), but the recently identified extension suggests that much of the 35 kilometer long Samira Horizon has yet to be tested down dip, and that previous shallow drill tests may not have adequately demonstrated its true potential.
Overall, the feasibility drilling program continues to be two weeks ahead of schedule and other aspects of the feasibility study are on track. Mineral Resources Development Inc. personnel of San Mateo, California, are currently on site conducting the first stage of the audit for the resource estimation, and metallurgical test work continues under the supervision of Kappes Cassiday and Associates of Reno, Nevada.
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 |
