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Etruscan has been actively exploring in Mali since 2001. The Company has developed two principal land packages, one in Mali South and the other in Mali West which provide a comprehensive pipeline of projects and targets from early stage geochemical anomalies to 43-101 compliant resources under feasibility study. In Mali South, Etruscan is working in joint venture partnership with Resolute Mining Ltd. on the Finkolo Gold Project on the Syama Gold Belt, as well as exploring several earlier stage properties on its own. A feasibility study is currently underway on the Tabakoroni deposit on the joint venture ground which may provide satellite feed to the Syama Gold Mine (6 million ounces) which Resolute has put into production. The Mali West land package comprises over 600 km2 and covers the southern strike extension of the favourable geological formations bordering the eastern contact of the Mali West Shear Zone which host the Sadiola gold deposit (14 million ounces) and in 2006, Etruscan announced the discovery of a new gold deposit at Diba on the poorly explored western side of the shear zone. Finkolo Gold Project, Mali South
Tabakoroni Deposit Resource The latest 43-101 compliant resource estimate was provided in July 2009 on the Tabakoroni deposit and is summarized as follows:
Feasibility Study
In 2008 a feasibility study was initiated on the Tabakoroni deposit to determine the optimal processing and mining options, including consideration of custom milling of Tabakoroni ore at the existing facility at Syama. Tabakoroni is situated 30 kilometers southwest of Syama. Flora, fauna, archaeological studies have been completed and baseline surface and ground water studies are underway. Sociological studies will commence when the footprint for mining has been established. The Tabakoroni feasibility study is scheduled for delivery before the end of 2009. Mali West Land PackageIn Mali West, Etruscan has over 600 km2 that is contiguous with the Sadiola property of AngloGold Ashanti and IAMGOLD. It covers the southern extension of the Mali West Shear Zone along strike of the 14 million ounce Sadiola Mine in the Kofi Formation as well as prospective ground to the west in the Keniebandi Formation. The most important gold deposits in Mali West (Sadiola, Yatela, Loulo and Tabakoto-Segala) all occur in rocks of the Kofi Formation in proximity to the eastern boundary of the Mali West Shear Zone. In the Keniebandi Formation, Etruscan made a significant gold discovery at Diba in 2006. Diba is characterized by disseminated gold in a broad low grade (0.1 to 0.5 g/t) halo over 20 to 50 meters in thickness with narrow bonanza grade intercepts of 60-900 g/t over 1 to 2 meters. Mineralization is hosted in an arkosic sedimentary package which is open downdip to the east. A number of reconnaissance holes northwest of the main deposit intercepted wide zones of low-grade gold mineralization in a series of intrusive rocks. Exploration drilling will continue to focus on these two aspects of Diba. The discovery at Diba and subsequent confirmation by diamond drilling of similar mineralization 10 kilometers to the south at Kobokotosou, and indications from auger drilling of another system 30 kilometers to the south at Keniebandi strongly suggest that Etruscan may have discovered a new district-scale gold belt with potential for additional new discoveries.
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|  | © 2006 Etruscan Resources Inc. All Rights Reserved. | Disclaimer | | |
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