Etruscan begins drilling on new permit in Burkina Faso



    HALIFAX, Nov. 20 /CNW/ - Etruscan Resources Inc. (EET.TSX) reported that
it has begun an initial 5,000 meter reconnaissance drilling program on the
Boulounga Permit in north central Burkina Faso. Drilling is targeting four
areas over a strike length of 12 kilometers that have a number of active gold
digging sites. Grab samples from the active gold digging sites have returned
assays up to 18.5 grams per tonne gold and soil sampling on a 250 x 100 meter
grid over the main shear corridor has returned values up to 1.2 grams per
tonne gold.
    Etruscan is operating two of its company-owned drilling rigs at
Boulounga. Forty-eight holes have been completed to date for a total of
2,338 meters with over 1,000 samples delivered to the laboratory for analysis.
Etruscan's drill crews are achieving average rotary air blast drilling rates
of 100 meters per day per rig. Etruscan has significantly increased its
in-house drill capabilities by investing in more versatile custom-made rigs
capable of reaching depths of up to 100 vertical meters. Etruscan's auger, RC
and RAB drills have been deployed to Burkina Faso, Mali, Ghana and Côte
d'Ivoire. Etruscan's exploration teams are capable of testing all prospective
anomalies without a dependence upon the availability of contract equipment.
This increases the probabilities for discoveries significantly. When a
discovery is made, the drilling can then be ramped up with the use of larger
contract equipment.
    Don Burton, Chief Operating Officer stated "Boulounga represents a rare
opportunity to discover a near surface multi-million ounce deposit in West
Africa. As recently announced on November 11, 2007 Etruscan has allocated
$15 million of its recent $35 million financing to aggressive exploration and
drill programs in five African countries. Ten projects are drill-ready and
several other projects are expected to generate drill targets over the next
3-4 months. The Boulounga drill program is only into its second week and
provides a clear example of the speed at which Etruscan will execute its
strategy towards making new discoveries on its massive land holdings in
Africa. We believe very strongly in the Company's abilities to increase
shareholder value through organic growth while at the same time realizing
significant cash flow as the Youga Gold Mine ramps up to commercial production
in the first quarter of 2008."
    The Boulounga Permit comprises 170 square kilometers and is situated
120 kilometers north of Ouagadougou in the Boromo greenstone belt of Birimian
age. This is the same gold belt which hosts the one million ounce Bissa
deposit of High River Gold. Access to the area is by paved and laterite roads
and there is a major water storage facility within 7 kilometers of the permit
area. Previous exploration has been limited, with the main investigations
being carried out by Randgold Resources in the 1990s, however, Randgold did
not undertake any drilling on the permit. Since that time, the permit has been
held by local Burkinabe who have focused on developing small scale gold
digging sites.
    The main shear corridor at Boulounga is marked by a series of prominent
hills which follow the regional north 20 degrees east contact between
volcano-sedimentary sequences to the west and mafic volcanics to the east.
Intrusive rocks (granodiorites) occur predominantly in the southwest but are
known to be associated with gold mineralization on at least one of the gold
digging sites. Gold mineralization favours east-west oriented quartz veins or
stockworks. Many of the diggings in the main Alga Main site occur in graphitic
schists with disseminated sulphides reminiscent of the host lithologies at the
Samira Hill mine in Niger (2 million ounces) and the Syama Mine in Mali (6
million ounces). Mineralization at Alga Northwest appears to be associated
with stockwork and veining along a granodiorite contact zone.
    All gold analyses on soil samples were performed by ALS laboratories
Bamako using standard aqua regia methods with atomic absorption finish and
gold analyses on rock samples were performed by ALS laboratories Ouagdougou
using standard 50 gram fire assay techniques. K. Kirk Woodman P.Geo.,
Etruscan's Chief Project Geologist, is the Qualified Person overseeing
Etruscan's exploration programs 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
13,000 square kilometers in West Africa. Its principal properties include the
Youga Gold Project in Burkina Faso (Press release dated October 3, 2007), the
Agbaou Gold Project in Côte d'Ivoire where its feasibility drilling program
has been completed (Press release dated October 11, 2007), the Diba Gold
Project in Mali where a major drill program was recently completed (Press
release dated July 26, 2007), the Finkolo Gold Project in Mali where an
6,700 meter reverse circulation and diamond drilling program was recently
completed (Press releases dated August 30, 2007and November 12, 2007) and the
Banfora Gold Belt in Burkina Faso with eight major gold targets identified and
where a single sample auger drilling program began in March 2007 (Press
release dated November 27, 2006). Etruscan recently announced a significant
acquisition of strategic properties in Ghana (Press release dated August 7,
2007). Etruscan also has a 53.7% interest in Etruscan Diamonds Limited which
has a dominant land position in the Ventersdorp Diamond District located in
South Africa. (Press release dated October 9, 2007). 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

    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
    




For further information:

For further information: Richard Gordon, Investor Relations, (877)
465-3674, Fax: (902) 832-6702, rgordon@etruscan.com; Tony Hayes, (866)
638-3338, Fax: (905) 468-8407, thayes@etruscan.com

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ETRUSCAN RESOURCES INC.

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