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Finkolo Gold Project, Mali South
Drilling of High Grade Zones
Resolute Mining earn-in is focused on delineating high grade resources in strike extensions of the Syama Gold Belt
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Etruscan's most advanced project in Mali is on the Finkolo exploration permit located in Mali South approximately 300 kilometers southeast of Bamako. The Finkolo permit is contiguous with the Syama holdings of Resolute Mining Ltd. which hosts the 6 million ounce Syama Gold Mine. Resolute has earned a 60% interest in the project and is managing and funding the exploration and development programs on the joint venture holdings. Under the terms of the joint venture agreement Resolute must fund all costs of the joint venture until production of a feasibility study and Etruscan will reimburse Resolute from 50% of its share of future project cash flow.
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Tabakoroni Deposit Resource
The latest 43-101 compliant resource estimate was provided in July 2009 on the Tabakoroni deposit and is
summarized as follows:
Cut-off |
Measured |
Indicated |
Measured & Indicated |
Inferred |
g/t |
Tonnes
(m) |
g/t |
Oz (k) |
Tonnes
(m) |
g/t |
Oz (k) |
Tonnes
(m) |
g/t |
Oz (k) |
Tonnes
(m) |
g/t |
Oz (k) |
0.50 |
3.29 |
2.29 |
242 |
6.82 |
2.03 |
445 |
10.11 |
2.11 |
687 |
6.73 |
1.39 |
301 |
0.70 |
2.87 |
2.54 |
234 |
5.77 |
2.29 |
425 |
8.64 |
2.37 |
659 |
4.77 |
1.39 |
264 |
0.90 |
2.50 |
2.80 |
225 |
4.88 |
2.56 |
402 |
7.38 |
2.64 |
627 |
3.57 |
2.03 |
233 |
1.00 |
2.33 |
2.93 |
220 |
4.50 |
2.70 |
390 |
6.83 |
2.78 |
610 |
3.13 |
2.18 |
220 |
1.10 |
2.18 |
3.06 |
214 |
4.14 |
2.84 |
378 |
6.32 |
2.92 |
593 |
2.77 |
2.33 |
208 |
1.20 |
2.04 |
3.20 |
209 |
3.82 |
2.98 |
366 |
5.85 |
3.06 |
575 |
2.46 |
2.48 |
196 |
1.50 |
1.67 |
3.61 |
193 |
3.02 |
3.42 |
332 |
4.68 |
3.49 |
525 |
1.77 |
2.92 |
166 |
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.
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