Halifax, Nova Scotia, September 10, 2009 - Etruscan Resources Inc. reported on positive exploration results following a regional geochemical survey covering 1,000 km2 over the Daoukro Permit in eastern Côte d'Ivoire (Figure 1). Disseminated gold mineralization associated with a 1.8 kilometer long geochemical anomaly, has been confirmed in bedrock by rotary-air-blast ("RAB") drilling, outcrop sampling and trenching. The anomaly ("Dietekro") is characterized by strong gold and arsenic in soils coincident with a prominent 75 meter high hill that may be related to silicification. The Dietekro anomaly has been given the highest possible priority as a reverse circulation drill target. Two other targets are being developed with detailed soil sampling which are situated 14 kilometers northeast, and 8 kilometers southeast of Dietekro. Results from Dietekro are highlighted by a RAB intersection of 39 meters of 1.8 grams per tonne which included 3 meters of 7.3 grams per tonne, a trench result of 42 meters of 1.1 grams per tonne and a number of rock samples from the hilltops ranging from 1.0 to 5.7 grams per tonne.
Road access to the hilltop was not possible and a single fence of RAB holes was drilled in a low lying area in between the hilltops. Highlights from the initial RAB drill results include:
39 meters at 1.8 g/t (including 3 meters at 7.3 g/t)
24 meters at 1.1 g/t
24 meters at 1.0 g/t (including 3 meters at 4.4 g/t)
6 meters at 2.7 g/t
3 meters at 3.4 g/t
Access to the hilltop by foot allowed for hand excavation of a single trench situated 200 meters south of the RAB fence. The trench results returned an average grade of 1.1 g/t over 42 meters (including 2 meters at 4.8 g/t). RAB samples consisted of three meter composite samples and the trench was sampled over two meter intervals.
Don Burton, Vice President Corporate Development stated "We have long held the conviction that Côte d'Ivoire may provide the greatest opportunities for new large-scale gold discoveries in West Africa by virtue of its expansive, under-explored greenstone belts. Over the past 18 months our geological teams have taken this virgin area of 1,000 km2 from scratch and have now identified three solid target areas to focus on, and a large number of significant regional results in excess of 100-500 ppb remain to be investigated. Our first drill target at Dietekro looks like a sediment-hosted system with widespread disseminated gold accompanied by strong alteration, with a very strong coincident arsenic anomaly. This is the first target we have developed in eastern Côte d'Ivoire and it has all the makings for a significant discovery. In addition to our commitment to the development of the Agbaou Gold Project which is at the feasibility stage, Etruscan will concurrently be pursuing the considerable exploration potential of all its exploration permits."
The regional soil survey by Etruscan covered the entire 1,000 km2 permit area using existing bush trails and roads for access, with over 6,000 samples analyzed which demonstrated a high gold potential over the eastern half of the permit (Figure 2). The anomaly at Dietekro hill was targeted early on because of gold digging activity around the base of the hill and grab samples from the hilltop returned up to 5.7 g/t. A detailed soil grid (50 m x 200 m) confirmed the regional anomaly and outlined gold in soil anomaly with very strong, coincident arsenic with values in excess of 1,000 ppm (Figure 3). The soil anomaly corresponds in part with a topographic high with a 75 meter relief. In order to confirm the soil anomaly Etruscan undertook a limited RAB drill and trenching program over the most accessible area of the hillside (Figure 4). The trenching consisted of a single, 183 m long trench and one fence of RAB holes 200 m north. The RAB fence consisted of 32 holes (1,619 m) over a 600 meter width of the anomaly testing to vertical depths between 25 m and 50 m in depth and intersected widespread anomalous gold over much of the section with a number of holes ending in mineralization. RAB drilling is an open-hole geochemical sampling technique and requires confirmation by reverse-circulation or diamond drilling for definitive resource calculation purposes.
All soil samples are collected from hand-dug pits 20-30 cm deep, under the supervision of Etruscan personnel and analyzed by standard Aqua-Regia assay performed by ALS Laboratory facility in Bamako, Mali. All rock and RAB sample preparations and standard 50-gram gold fire assays, were performed by ALS Laboratories, Bamako, Mali. During regional geochemistry surveys and drill programs Etruscan consistently employs a rigorous quality control and assurance program comprising regular insertion of field duplicates. K. Kirk Woodman, P.Geo., and Senior Project Geologist is the Qualified Person overseeing Etruscan's exploration gold projects in West Africa and has reviewed this press release.
About Etruscan Resources Inc.
Etruscan Resources Inc. is a gold focused Canadian junior mining company with dominant land positions in district scale gold belts covering more than 10,000 square kilometers in West Africa. Its principal gold mine development projects include the Youga Gold Project in Burkina Faso, the Agbaou Gold Project in Côte d'Ivoire, and the Finkolo Gold Project in Mali. Advanced and early stage exploration projects are on-going in Burkina Faso, Mali, Côte d'Ivoire; Ghana and Namibia. Etruscan also has a 47.4% interest in Etruscan Diamonds Limited which has a dominant land position in the Ventersdorp Diamond District located in South Africa where it is developing the Blue Gum Diamond Project. The common shares of Etruscan are traded on The TSX Exchange under the symbol "EET". More extensive information on Etruscan can be found on its home page at http://www.etruscan.com
For more information from Etruscan contact:
Richard Gordon, Investor Relations, email: Tel: (877) 465-3674/ Fax (902) 832-6702
This press release may contain certain forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements may include statements regarding exploration results and budgets, mineral reserve and resource estimates, work programs, capital expenditures, mine operating costs, production targets and timetables, future commercial production, strategic plans, market price of precious metals or other statements that are not statements of fact. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Various factors that may affect future results include, but are not limited to: fluctuations in market prices of precious metals; foreign currency exchange fluctuations; risks relating to mining exploration and development including reserve estimation and costs and timing of commercial production; requirements for additional financing; political and regulatory risks, and other risks and uncertainties described in the Company's annual information form filed with the Canadian Securities regulators on SEDAR (www.sedar.com). Accordingly, readers should not place undue reliance on forward-looking statements.
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS RELEASE
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