Etruscan confirms two major gold targets in Mali West



    HALIFAX, Feb. 10 /CNW/ - Etruscan Resources Inc. reported that it has
received results from auger drilling completed in late December that confirm
the presence of two major gold targets for drilling on the Keniebandi Permit
in western Mali, West Africa. Gold mineralization at Keniebandi was first
detected in soil geochemical surveys in 2005 and later in saprolite by wide
spaced auger drilling on a 50 x 250 meter spacing. Infill auger drilling on a
50 x 125 meter spacing has now confirmed that the mineralization occurs in two
separate bodies measuring 1,500 x 200 meters and 750 meters x 200 meters
respectively. The mineralized zones are defined by single sample auger values
in saprolite exceeding 0.1 grams per tonne gold with the highest sample
returning 1.6 grams per tonne gold. The two anomalies are spatially related to
zones of conductivity outlined by airborne electromagnetic surveys carried out
by Geotech Airborne Limited using the VTEM system.

    Don Burton, Vice President Corporate Development and COO stated:

    "Etruscan's land position in Mali West covers 629 km2 and has been
    strategically built upon two geological concepts - the classical search
    for the multi-million ounce Sadiola-type deposit (14M ounces) which
    occurs in the Kofi Formation, and the search for new deposits also
    related to the Mali West Shear Zone, but on the western side in the
    Keniebandi Formation. Sadiola was brought into production in 1997 but it
    was in fact a known gold digging site which dates back several centuries.
    Diba on the other hand was a totally new discovery made in 2006 in a new
    geological setting in the Keniebandi Formation. This region, because of
    its location on the "wrong side" of the Mali West Shear Zone has been
    virtually unexplored. We have waited patiently for over two years to be
    granted the Keniebandi Permit in order to test the gold anomaly with
    drilling. The two targets are now well defined and clearly large enough
    to potentially represent significant new discoveries. We intend to test
    them with our in-house reverse circulation drills."

    The Keniebandi Permit is situated just 23 kilometers south of the Diba
gold discovery and also occurs in sedimentary and volcanic rocks of the
Keniebandi Formation. Drilling was carried out at Diba by Etruscan during the
period June 2006 to July 2007 and encountered gold in a variety of mineralized
settings, the most important of which was structurally controlled,
disseminated stockwork mineralization in arkosic sediments. The narrow
stockworks returned some high grade intercepts including 900.5 g/t over 1
meter, 228.5 g/t over 1 meter, 161.8 g/t over 2 meters, 49.5 g/t over 1 meter,
85.9 g/t over 1 meter and 45.2 g/t over 1 meter. The broader disseminated
zones were highlighted by 3.6 g/t over 28 meters (including 10.2 g/t over 8
meters), 3.3 g/t over 17 meters (including 15.0 g/t over 1 meter), 5.5 g/t
over 16 meters (including 31.2 g/t over 2 meters), 3.9 g/t over 10 meters
(including 28.5 g/t over 1 meter) and 2.0 g/t over 33 meters (including 26.0
g/t over 1 meter). A second, more weakly mineralized system was discovered
five kilometers to the south at Kobokotossou in June 2007 and it was
anticipated that the anomaly at Keniebandi would be drill tested later that
same year. However, as a result of delays in the permit application process,
Etruscan was unable to return to Keniebandi until late in 2008.

    All sample preparations and standard 50-gram gold, aqua-regia assays,
from the auger programs, were performed by ALS Laboratories, Bamako, Mali.
Etruscan consistently employs a rigorous quality control and assurance program
comprising regular insertion of certified reference standards, blanks and
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
13,000 square kilometers in West Africa. Its principal mine development
projects include the Youga Gold Project in Burkina Faso (latest press release
dated December 4, 2008), the Agbaou Gold Project in Côte d'Ivoire (latest
press release dated December 18, 2008), and the Finkolo Gold Project in Mali
(latest press release dated July 2, 2008). Advanced and early stage
exploration projects are on-going in Burkina Faso, Mali, Côte d'Ivoire, Ghana
(see press release dated June 10, 2008) and Namibia (see press release dated
January 15, 2009). See press release dated May 6, 2008 for a comprehensive
update of explorations projects. Etruscan also has a 52.1% interest in
Etruscan Diamonds Limited which has a dominant land position in the
Ventersdorp Diamond District located in South Africa (latest press release
dated December 12, 2008). 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: from Etruscan: Richard Gordon, Investor
Relations, (877) 465-3674, Fax (902) 832-6702, rgordon@etruscan.com

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ETRUSCAN RESOURCES INC.

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