I would offer the following in response to your comments of January 12th.
At our property Koma Bangou there is a resource of a 250,000 to 300,000
of gold grading 0.9 g/t. It is our intention to bring this property into production
later this year and ground work has already started. We have identified other
anomalies on the Koma Bangou property which require follow up exploration,
this will start later this month. I'm at somewhat of a loss to put a value on this
concession however gold resource in the ground is quite often valued at
$30.00 to $60.00 US.
In 1993, Etruscan commissioned the firm Watts, Griffs and McOuat, Consulting Geologists and Engineers
to value our property at Hackett River and Thierry Mine, the following represents their assessment in
Canadian dollars:
Hackett River $25 million to $35 million
Thierry Mine $11 million to $16 million
With respect to the drills on the property, I would offer the following:
At Tiawa, within the 81 sq/km area optioned to Placer Dome, Placer has mobilized three
diamond drills with two more to follow. Outside the zone Etruscan has one reverse
circulation, two auger and two RAB drills currently operating.
The other point I would make with respect to your observation, is that Placer
Dome will pay all exploration costs starting November 1st within the 81 Kilometer
zone which is very significant when you start Diamond drilling.
Having visited the Africa properties for two weeks this past December, I
would agree it is going to be a very exciting year for the company.
We are working on a CD Rom which will include video footage of the exploration
efforts in Africa and it should be completed by March.
Thanks again for your interest in Etruscan.
Andrew London
Investor Relations |
