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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: onepath who wrote (15134)	7/4/2006 1:17:16 PM
From: onepath	Respond to of 78419

Etruscan samples 51 m of 11.8 g/t Au at Diba 2006-07-04 12:37 ET - News Release Mr. Richard Gordon reports IMPRESSIVE RESULTS FROM ETRUSCAN'S FIRST CONFIRMATION HOLES AT DIBA PROPERTY IN MALI Etruscan Resources Inc. has received impressive assay results from the first two rotary air blast (RAB) holes testing the depth extent of the recently reported gold discovery on the Diba property in Mali, West Africa (see Stockwatch news dated June 5, 2006). Highlights include: 48 metres of 5.2 grams per tonne gold including six metres of 23.8 g/t gold; and 51 metres of 11.8 g/t gold including 4.5 metres of 112.8 g/t gold. The results confirm the mineralization reported from auger drilling and both holes end in mineralization. Hole MIRA06-01 was drilled vertically to test mineralization encountered in an auger hole that averaged 12.6 grams per tonne gold over 12 metres and ended in mineralization at a vertical depth of 30 metres. Hole MIRA06-01 was drilled to a vertical depth of 63 metres and averaged 5.2 grams per tonne over 48 metres (from 15 metres to 63 metres). High-grade zones include six metres of 23.8 grams per tonne gold and 1.5 metres of 34.7 grams per tonne gold. Hole MIRA06-02 was drilled at an inclination of 60 degrees to the west to test high-grade mineralization encountered in an auger hole that intersected 114 grams per tonne gold at the bottom of the hole at a vertical depth of 30 metres. Hole MIRA06-02 was drilled to a downhole depth of 69 metres and averaged 11.8 grams per tonne over 51 metres (from 18 metres to 69 metres). High-grade zones include 4.5 metres of 112.8 grams per tonne and three metres of 7.5 grams per tonne gold at the bottom of the hole. All average grades are reported uncut. A complete listing of the assay results is attached. The purpose of the current drilling program is to delineate the extent of mineralization at Diba. Additional results are expected shortly. The company is currently assessing the feasibility of mobilizing a diamond drill to site. Don Burton, Etruscan's vice-president of exploration and chief operating officer, stated: "These early results confirm the significance of Etruscan's discovery at Diba. While the geology and controls on mineralization have yet to be determined, there is no question that we have some very exciting grades here and we have again ended in mineralization. It appears that we are dealing with a very large deposit with multiple high-grade zones dipping moderately to the east. The RAB program will help us to determine the areas of high-grade mineralization, while core drilling will help us to determine the true thickness of the deposit and get a better look at the geology." Diba is located 15 kilometres south of the Sadiola gold mine in Mali, West Africa. Gold mineralization has been confirmed in saprolite by auger drilling over an area measuring 2.5 kilometres in length and 300 metres to 500 metres in width. The mineralized zone is defined by single sample auger values in saprolite exceeding 0.1 gram per tonne with the highest sample returning 49.6 grams per tonne gold. The discovery is a result of a systematic regional exploration program that has been carried out over the past two years on Etruscan's principal land package in Mali West. In 2005 Etruscan completed regional geochemical surveys which confirmed the presence of several low-level (25 parts per billion to 100 parts per billion gold) but extensive, kilometre-scale, gold-in-soil anomalies at Diba, Kobokotosou and Keneibandi. Four of these anomalies have now been confirmed with single-sample augering. Only the Diba target has been tested by deeper multisample augering. Prior to deep augering, the target at Diba measured 2.2 kilometres by 500 metres with a maximum value 3.2 g/t. Dimensions of the second target at Kobokotosou are 0.8 kilometre by 400 metres with a maximum value 1.1 g/t gold, and the third and fourth targets at Keneibandi measure 1.4 kilometres by 300 metres with a maximum value 1.1 g/t gold and 1.2 kilometres by 300 metres with a maximum value 1.5 g/t gold. Etruscan controls the entire 30-kilometre strike length over which these anomalies occur. All gold analyses were performed by Abilabs Laboratories at Bamako, Mali, using standard 50-gram fire assay procedures. K. Kirk Woodman, PGeo, Etruscan's chief project geologist, is the qualified person overseeing Etruscan's exploration programs in West Africa. TABLE 1 -- ASSAY RESULTS FROM HOLE MIRA06-01 Hole ID From To Au (g/t) MIRA06-001 0 1.5 0.02 1.5 3 0.01 3 4.5 0.02 4.5 6 0.01 6 7.5 0.01 7.5 9 0.03 9 10.5 0.05 10.5 12 0.06 12 13.5 0.1 13.5 15 0.2 15 16.5 2.3 16.5 18 1.9 18 19.5 1.6 19.5 21 0.5 21 22.5 1.1 22.5 24 55.0 24 25.5 10.0 25.5 27 2.8 27 28.5 27.4 28.5 30 0.8 30 31.5 1.0 31.5 33 0.3 33 34.5 0.3 34.5 36 1.1 36 37.5 34.7 37.5 39 0.6 39 40.5 2.0 40.5 42 0.5 42 43.5 0.4 43.5 45 0.7 45 46.5 0.3 46.5 48 0.2 48 49.5 2.1 49.5 51 3.5 51 52.5 2.6 52.5 54 0.5 54 55.5 3.3 55.5 57 0.9 57 58.5 1.3 58.5 60 1.0 60 61.5 3.2 61.5 63 2.1 TABLE 2 -- ASSAY RESULTS FROM HOLE MIRA06-02 Hole ID From To Au (g/t) MIRA06-002 0 1.5 0.03 1.5 3 0.03 3 4.5 0.01 4.5 6 0.02 6 7.5 0.02 7.5 9 0.05 9 10.5 0.03 10.5 12 0.03 12 13.5 0.03 13.5 15 0.04 15 16.5 0.03 16.5 18 0.1 18 19.5 0.5 19.5 21 1.2 21 22.5 1.3 22.5 24 0.4 24 25.5 0.5 25.5 27 0.5 27 28.5 0.7 28.5 30 0.3 30 31.5 1.4 31.5 33 0.7 33 34.5 5.0 34.5 36 311.9 36 37.5 18.1 37.5 39 8.5 39 40.5 4.2 40.5 42 2.6 42 43.5 2.2 43.5 45 1.0 45 46.5 3.2 46.5 48 3.2 48 49.5 1.9 49.5 51 2.1 51 52.5 1.2 52.5 54 1.4 54 55.5 0.6 55.5 57 1.5 57 58.5 2.4 58.5 60 2.4 60 61.5 2.5 61.5 63 0.7 63 64.5 0.7 64.5 66 1.8 66 67.5 9.8 67.5 69 5.2 We seek Safe Harbor. 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