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Etruscan began working in Ghana in 2006 under an option agreement with Redback Mining Inc. whereby Etruscan could earn a 100% interest in 580 km2 of ground in northern Ghana, including the Bole-Bolgatanga Gold Belt. These permits cover the southwestern extension of the Youga Gold Belt into Ghana. Since that time Etruscan has evaluated a number of properties by way of joint venture and option agreements throughout the prolific gold belts of southwestern Ghana. As a result of these property evaluations, the Company is now focused on a land package situated in the Kumasi Basin in a geological setting similar to that of the Ayanfuri deposit (5 million ounces) which is being developed by Perseus Mining Ltd.
Bole-Bolgatanga Gold Belt
Etruscan has completed comprehensive investigations of the Red Back option area and identified two priority targets at Zupilega and Gonse for further evaluation by reverse circulation drilling. RAB drilling at Zupilega intersected several encouraging intercepts including 16.5 m @ 3.6 g/t, 19.5 m @ 2.4 g/t and 24 m @ 1.1 g/t. Sampling on historic trenches at Gonse gave intersections of 12 m @ 7.0 g/t, 10 m @ 5.0 g/t, and 10 m @ 2.1 g/t.
Kumasi Basin Project
Results from geochemical surveys in southwestern Ghana have identified several kilometer scale gold anomalies in the Kumasi Sedimentary Basin along a favorable trend that parallels the prolific Ashanti Volcanic Belt, within 20 kilometers of the 60 million ounce Obausi Mine, 10 kilometers of the 3 million ounce Obatan Mine and 10 kilometers of the 5 million ounce Ayanfuri deposit. Systematic stream sediment and regional soil sampling coverage over the Kente and Dominase areas (280 km2) has identified widespread gold anomalism often accompanied by elevated arsenic values. These results are considered extremely encouraging and follow up auger drilling has been recommended.
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