Etruscan drilling multiple targets in Namibia



    TSX: EET

    HALIFAX, June 19 /CNW/ - Etruscan Resources Inc. (EET.TSX) reported that
reverse-circulation ("RC") and rotary-air-blast ("RAB") drilling is underway
on four targets in northern Namibia on Etruscan's Kamanjab Project. The
drilling is targeting a variety of commodities including gold, silver, base
metals and rare earth elements ("REEs"). Initial assay results are expected
within four weeks.
    These drill targets have been selected following an extensive period of
exploration over very large tracts of ground, starting from a grassroots level
in late 2005 and represent four very different styles of mineralization. The
targets and their respective principal commodities are:

    - Lofdal Copper Mine (gold, copper, silver)
    - Noute-AK (gold, copper)
    - Lofdal-J (gold, silver, copper)
    - Lofdal Carbonatite (rare earth elements)

    Mineral Potential of Namibia

    Namibia is located along the south-western coast of the African
continent, immediately north of the Republic of South Africa and south of
Angola. The geology of Namibia encompasses rocks of Archaean to Phanerozoic
age up to recent sediments, thus covering more than 2600 million years of the
Earth's history. Namibia is perhaps best known for its offshore marine diamond
deposits and the famous Rossing Uranium Mine of Rio Tinto (561Mt @ 0.03%
U3O8), and more recently for significant uranium exploration activity (ie.
Paladin Resources' Langer Heinrich Mine, Wesport's Valencia Mine, UraMin's
Trek-Kopje deposit, Bannerman Resources's Goanikontes U Project and Deep
Yellow's Tubas Project). However the geology of Namibia is also host to
significant deposits of gold (Anglo Ashanti's Navachab Mine, 127 Mt @ 1.1g/t
Au), zinc (Anglo American's Skorpion Mine, (greater than)20Mt @ 11% Zn) and
lead (formerly producing Tsumeb Mine, 2 million tonnes Pb and 1 million tonnes
Cu produced).
    The Geological Survey of Namibia and the Namibian Ministry of Mines
provide exceptionally high quality databases to the public sector which played
a key role in Etruscan's evaluation of the mineral potential of the selected
project areas. Furthermore, Namibia offers a very stable fiscal and
legislative regime in which to operate with excellent infrastructure making
exploration of the more remote regions relatively easy.

    Etruscan's Operations in Namibia

    Etruscan operates in Namibia through its wholly-owned subsidiary Etruscan
Resources Namibia (Pty) Ltd. with an exploration team of seven geologists and
support staff, and has assembled two principal land packages in the country,
namely the Kamanjab Project area which is centered approximately
375 kilometers northwest of the capital city of Windhoek, and the Witvlei -
Rehoboth Project which is situated just 50 kilometers east of Windhoek.
Etruscan's total land holdings in Namibia cover 9,705 km2 on 11 Exclusive
Prospecting Licences ("EPLs").
    Etruscan first became interested in Namibia in 2005 based on the post
doctoral studies of Alberto Lobo-Guerrero which suggested that the Greater
Lufilian Arc which extends into Namibia from neighbouring Zambia, holds
significant potential to host iron oxide copper-gold ("IOCG") deposits. This
is a relatively new deposit group, exemplified by the giant Olympic Dam
deposit of southwestern Australia which is the world's largest remaining
uranium deposit, fourth largest copper deposit and fifth largest gold deposit
(remaining resources 7.7 billion tonnes @ 0.87% Cu, 0.3g/t Au, 1.61g/t Ag and
0.29kg/t U3O8). Dr. Lobo-Guerrero recently presented his findings at the
special joint session symposium of the Society of Economic Geologists and the
Geological Association of Canada on IOCG Deposits held in Quebec City in June
2008.
    In addition to the recommendations of Dr. Lobo-Guerrero, Etruscan
undertook geological and geophysical compilations, regional structural
analyses, and satellite imagery analyses of the prospective areas to refine
its selection for permit applications.

    Drill Targets

    The Lofdal Copper Mine consists of four small adits and one shallow shaft
opened in the 1950's into malachite showings on a small hill. The visible
copper mineralization is hosted by a silicified zone within a package of
intercalated schists and meta-volcanics. There are no reports on the total
tonnage or grades mined but surface piles are very limited and there are no
reported assays for gold. Initial rock grab samples from south of the old
workings yielded individual sample results up to 15.7 grams per tonne gold,
1 % copper and 19 grams per tonne silver, while much higher copper and silver
values were associated with the old workings where the best reported assays
included; 10.2% and 7.2% copper and 65.5 and 51 grams per tonne silver. An RC
drill program consisting of 2,955 meters in 45 holes, along five drill fences
over a one kilometer strike length has been completed and results are pending.
    The Noute-AK target represents a possible IOCG system with a significant
amount of iron oxide staining reported during the initial prospecting phase.
Initial grab samples were followed by a 50 x 100 meter soil grid, which
identified a low level but well defined, northeast-trending gold-in-soil
anomaly along a strike length of four kilometers. RAB drilling is currently
testing the best portions of the anomaly and 1,949 meters in 72 holes have
been completed to date and results are pending.
    The Lofdal-J target is characterized by intensive stockwork veining
within a pegmatitic, granitoid intrusion. The extents of the intrusion have
been mapped and initial grab samples reported an individual sample up to
0.02 grams per tonne gold, 2 % copper and 808 grams per tonne silver. An RC
drill program was recently completed which included 916 meters in 11 holes
across the pegmatitic granitoid and into the surrounding meta-volcanic country
rock and results are pending (Figure 5).
    The fourth target is the Lofdal Carbonatite which was previously explored
for rare earth elements ("REE") in 1982. These carbonatites reportedly contain
xenotime, monazite, synchysite, parasite, ancylite, bastndsite and thorite and
results from the earlier exploration reported values up to 14.4 % ThO2, 0.63 %
yttrium, 0.87 % cerium, 1.5% lanthanum and 0.74 % neodymium. REEs are
essential for a number of wide-ranging applications including many high-tech
applications from long-lasting rechargeable batteries to new light emitting
diodes. The United States Geological Survey reports that more than 90% of REEs
used in the United States originate in China (Haxel, et.al., 2002) and a
recent article points out that China is imposing stricter export restrictions
on REE exports (Reuters, 2008).
    As a result of prospecting and mapping in the Lofdal Carbonatite area, an
RC program is currently underway to test the largest of the known carbonatite
plugs. The current program consists of 450 meters in 6 holes, with additional
drilling contingent on positive results.
    All sample preparations, standard 50-gram gold fire and Inductively
Coupled Plasma assays were performed by ALS Laboratories, Johannesburg, South
Africa. 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 Namibia
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 gold mine development
projects include the Youga Gold Project in Burkina Faso (latest press release
June 17, 2008), the Agbaou Gold Project in Côte d'Ivoire (latest press release
dated February 21, 2008), and the Finkolo Gold Project in Mali (latest press
release dated January 7, 2008). Advanced and early stage exploration projects
are on-going in Burkina Faso, Mali, Côte d'Ivoire; Ghana and Namibia (see
press dated May 6, 2008). 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 where it is developing the Blue Gum Diamond
Project (press release dated June 13, 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: 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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