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| | |  Namibia is the newest country in Etruscan's portfolio. The exploration strategy in Namibia is somewhat different than in the West African countries. In West Africa, there is a clear focus on the Birimian-age gold belts and in particular in establishing land positions around existing deposits. Interest in Namibia arose from an independent doctoral thesis that concluded that certain areas have a high potential for the discovery of iron oxide copper gold ("IOCG") deposits and possible relationships to copper deposits of the Zambian Copper Belt. Following preliminary reconnaissance and extensive data compilation, Etruscan applied for regional land packages in two areas: in northern Namibia along the southern and eastern margins of a large basement complex (Kamanjab Inlier) and in the central area covering a volcano-sedimentary belt (Rehoboth Volcano-Sedimentary Sequence) immediately east of Windhoek. Licences covering almost 10,000 km2 have been granted and Etruscan has undertaken detailed satellite imagery analyses over both areas to assist in identifying prospective targets within these large land packages. Kamanjab ProjectThis project consists of six permits covering almost 5,000 km2. During 2007 initial prospecting and rock sampling programs covered most of the primary target areas. Field crews encountered a range of mineralized occurrences (gold and base metals) and identified several zones of alteration that may be associated with IOCG type mineralization. Etruscan will carry out drilling on promising targets in 2008. Witvlei ProjectThis project comprises five contiguous permits extending over 4,000 km2 covering much of the southern margin of the Rehoboth Volcano-Sedimentary Sequence. A number of historic copper occurrences are known from the belt. Much of the terrain is sand or calcrete covered and satellite studies proved less effective. There will be a greater reliance on geochemical survey methods and field crews are conducting regional surveys. Maps and Photos
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