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Gold/Mining/Energy : EET Etruscan Enterprises T -- Ignore unavailable to you. Want to Upgrade?

To: JR. who wrote (148)	6/25/2003 11:50:52 AM
From: JR.	Read Replies (1) \| Respond to of 281

News-MALI Etruscan Resources Inc.: New Gold Zone Intersected In Mali WINDSOR, NOVA SCOTIA, Jun 25, 2003 (CCNMatthews via COMTEX) -- Etruscan Resources Inc. (EET.TSX) announced today results from a 3,000 meter reconnaissance-drilling program on the Finkolo Permit in Mali in which a new gold zone was intersected along the contact of a large intrusive porphyry. Widely spaced drill holes along the porphyry zone intersected disseminated gold mineralization over down-the-hole widths of 18-36 meters with average grades of up to 2.42 grams per tonne gold, with individual samples assaying up to 8.30 grams per tonne gold. Immediately south of the porphyry a series of narrower zones returned intercepts of up to 14.35 grams per tonne gold over 3 meters. Within the main 1.5 kilometer long Tabakoroni zone, the best intersection returned 6.72 grams per tonne gold over 16.5 meters which included 22.8 grams per tonne gold over 3 meters. The objective of the reconnaissance-drilling program was to test a number of coincident geophysical and geochemical anomalies with drill fences using an air core drill rig capable of reaching up to 50 vertical meters in the oxide zone (see accompanying map). The Etruscan drill program was primarily focused on determining the potential to discover new deposits at Finkolo associated with the intrusive porphyry. The results have demonstrated that the eastern contact of the porphyry is well mineralized and holds the potential to develop a large tonnage disseminated gold deposit along strike and at depth. A follow-up program utilizing reverse circulation drilling will be undertaken to determine the size, grade and characteristics of the newly discovered zone. Porphyry Target Results The Porphyry Target zone has a potential strike length in excess of 3 kilometers. A series of drill fences were selected along three lines to pinpoint the exact position of the eastern contact of the porphyry and a fourth drill fence tested the western contact of the porphyry on a single line. The eastern contact zone was well mineralized on all three lines however only geochemically anomalous gold mineralization was encountered on the western contact. Line No. Hole No. From To Width Grade Comments (m) (m) (m) (g/t)1800N MTAC-23 22.5 45.0 22.5 0.66 eastern contact of porphyry1800N MTAC-49 33.0 51.0 18.0 2.42 25 meters behind MTAC-231200N MTAC-14 25.5 61.5 36.0 0.88 eastern contact of porphyry1200N MTAC-48 51.0 74.0(x) 23.0 1.57 25 meters behind MTAC-14(x) hole ended in mineralized zone with last assay running 8.30 grams per tonne gold1000N MTAC-08 33.0 36.0 3.0 14.35 50 meters south of porphyry contact1000N MTAC-10 28.5 30.0 1.5 13.27 50 meters south of porphyry contact 42.0 43.5 1.5 4.67 60.0 69.0 9.0 2.861000N MTAC-47 54.0 60.0(x) 6.0 2.56 25 meters behind MTAC-10(x) unable to reach lower two zones Holes 47, 48 and 49 were drilled at the end of the program to determine the dip and continuity of the mineralization. There is a marked increase in grade with depth on lines 1200N and 1800N and hole MTAC-48 ended in high-grade mineralization of 8.30 grams per tonne gold. Drill equipment limitations also prevented hole MTAC-47 from reaching the targeted depth. Tabakoroni Zone Results The Finkolo permit was originally held by BHP International ("BHP") as part of the Syama exploration lease and in 1989 BHP drilled a total of 3,630 meters in twenty-one (21) holes along a 1.5-kilometer segment of the Syama Sequence called the Tabakoroni Zone. This drilling intersected significant gold in every hole but never reached the porphyry target. Gold mineralization in the Tabakoroni Zone is hosted by sedimentary and volcanic rocks. Some of the highest grade intercepts were encountered in the holes closest to the porphyry such as 24.4 grams per tonne gold over 15.0 meters (includes 130.2 grams per tonne over 2.0 meters and 57.6 grams per tonne gold over 1.5 meters) and 23.5 grams per tonne gold over 4.5 meters. Three holes were drilled in this zone to follow up earlier BHP intercepts. Hole MTAC-051 was drilled on Line 200N and intersected 6.72 grams per tonne gold over 16.5 meters, including 22.8 grams per tonne gold over 3 meters. This hole was drilled approximately 65 meters up-dip of BHP hole TAD-006 which intersected 8.40 grams per tonne gold over 10.5 meters. Gold assays were carried out by Abilab Afrique de l'Ouest SARL, an accredited mining service laboratory in Bamako, Mali. A series of standards, blanks and duplicates were submitted to the laboratory to monitor quality control and assurance. The Etruscan drilling program and interpretations are being developed under the direction of Etruscan's qualified person David R. Duncan, P.Geo