Another Million Ounce Gold Deposit Acquired by Etruscan.Business Editors DARMOUTH, Nova Scotia--(BUSINESS WIRE)--Dec. 2, 2003 Etruscan Resources Etruscan Resources is a mining company based in Nova Scotia, in Canada, that operates gold and diamond mines in Africa. Etruscan mines gold and diamonds in the West African countries of Burkina Faso, Cote d'Ivoire, Ghana, Mali and Niger. Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :EET imp. 1. imp. os> of Eat. EET n abbr (= Eastern European Time) → hora de Europa oriental EET abbr (= Eastern European Time) → HEO ( ) announced that it has been officially granted the Agbaou Permit by Presidential Decree decree, in law, decision of a suit in a court of equity. It is the counterpart in equity of the judgment in a court of law, although in those jurisdictions where law and equity have merged, judgment is sometimes used to include both. . The 529 km2 permit includes the Agbaou Gold Deposit which has an independently reported resource of in excess of 1 million ounces of gold. Agbaou is located in southern Cote d'Ivoire some 200 kilometers northwest of the capital city of Abidjan. The permit is accessible by paved pave tr.v. paved, pav·ing, paves 1. To cover with a pavement. 2. To cover uniformly, as if with pavement. 3. To be or compose the pavement of. highway and is located within 2 kilometers of the national power grid. Agbaou is an advanced stage gold project with over 18,000 meters of drilling forming the basis for an independent resource estimate that was prepared in April 2000 by RSG RSG Revenue Support Grant (UK) RSG Recovery Storage Group (Microsoft Exchange) RSG Ready, Set, Go! RSG Regional Support Group RSG Research Study Group (NATO) Global ("RSG"). No work has been carried out on the property since RSG generated their report. The results of the RSG resource estimation estimation In mathematics, use of a function or formula to derive a solution or make a prediction. Unlike approximation, it has precise connotations. In statistics, for example, it connotes the careful selection and testing of a function called an estimator. are summarized in the following table:
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Cutoff Indicated Resources Inferred Resource
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Grade Tonnes Grade Ounces Tonnes Grade Ounces
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0.5 gpt 18,244,000 1.5 855,000 5,214,000 1.5 248,000
1.0 gpt 9,684,000 2.1 659,000 2,562,000 2.3 188,000
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Very high-grade zones exist at Agbaou (see attached Table of Selected Intercepts) that have the potential to significantly increase the overall grade of the deposit. Previous drilling did not focus on this aspect of the deposit. Etruscan believes that with further drilling, a higher-grade resource can be developed with an average grade on the order of 3.5 grams per tonne tonne measure of weight or mass; 1 tonne=1000 kg. See also ton. . The first step in Etruscan's program to advance the deposit to production will be to undertake sufficient drilling to demonstrate the continuity of the high grade zones within the deposit, which include:
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Hole No. Width (meters) Grade (gpt Au)
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ARC020 8 m 36.67 g/t
ARC097 10 m 25.54 g/t
ARC142 13 m 16.18 g/t
ARC130 10 m 16.31 g/t
ARC031 8 m 11.27 g/t
ARC100 14 m 11.24 g/t
ARC080 18 m 10.86 g/t
ARC003 24 m 9.84 g/t
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The Agbaou deposit occurs within a well-defined regional shear shear: see strength of materials. Shear A straining action wherein applied forces produce a sliding or skewing type of deformation. zone extending over 40 kilometers across the entire permit and limited exploration has taken place outside of the immediate deposit area. Cote d'Ivoire is a mineral-rich country of over 322,000 square kilometres Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of the SI unit of surface area, the square metre, one of the SI derived units. 1 km² is equal to:
v. Past participle of underlie. by the same prospective Archean and Lower Proterozoic (Birimian) formations that extend into Ghana, Mali and Burkina Faso Burkina Faso (burkē`nə fä`sō), republic (2005 est. pop. 13,925,000), 105,869 sq mi (274,200 sq km), W Africa. It borders on Mali in the west and north, on Niger in the northeast, on Benin in the southeast, and on Togo, Ghana, and . Etruscan believes that Cote d'Ivoire has outstanding exploration potential and is encouraged by the continuing improvements in the political climate of the country. Etruscan also reports today that the closing of the acquisition of the Youga gold deposits from Ashanti Goldfields n. 1. A small slender woolly annual (Lasthenia chrysostoma) with very narrow opposite leaves and branches bearing solitary golden-yellow flower heads; it grows from Southwestern Oregon to Baja California and Arizona; - it is often cultivated. and Echo Bay Mining is anticipated to close on or about December 5, 2003. With the addition of the Youga and Agbaou deposits, Etruscan's total gold resource inventory increases to 3.1 million ounces. This figure includes Etruscan's 40% interest in the 2 million ounce Samira Hill Gold Project which is under construction in Niger. 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 www.etruscan.com.
HIGH GRADE INTERCEPTS FROM AGBAOU
Hole No. From To Width Grade
(m) (m) (m) g/t Au
ARC003 92 114 24 9.84
ARC004 90 102 12 6.24
ARC018 10 24 14 4.83
ARC020 58 66 8 36.67
ARC027 100 112 12 6.65
ARC031 106 114 8 11.27
ARC032 70 74 4 22.48
ARC033 24 36 12 6.98
ARC036 108 116 8 7.27
ARC040 8 36 28 8.41
ARC080 18 28 10 10.86
ARC083 70 82 12 6.22
ARC092 14 24 10 7.23
ARC097 36 46 10 25.54
ARC100 72 86 14 11.24
ARC120 22 34 12 6.65
ARC121 152 168 16 9.95
ARC126 120 126 6 6.84
ARC128 137 145 8 4.91
ARC130 78 88 10 16.31
ARC142 169 182 13 16.18
ARC145 136 150 14 8.59
ARC173 112 120 8 6.82
NO REGULATORY AUTHORITY Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS RELEASE |
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