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ETRUSCAN ADVANCES GOLD TARGETS ON BANFORA BELT
IN BURKINA FASO
Halifax, Nova Scotia, November 27, 2006 - Etruscan Resources Inc. reported today that
detailed in-fill soil sampling has confirmed the first two of eight regional gold-in-soil
anomalies identified on its extensive permit holdings in the Banfora Gold Belt in western
Burkina Faso. The eight gold anomalies (which were reported in Etruscan’s press release
dated September 6, 2006) vary in strike length from 1-5 kilometers and in width from
250-800 meters. The Baboro target area measures 2 kilometers long and up to 700
meters wide with 12 gold-in-soil values in excess of 200 parts per billion (ppb) gold
and four samples in excess of 500 ppb gold. The Siniko target area measures 5
kilometers long and up to 800 meters wide with 29 gold-in-soil values in excess of
200 ppb gold and 11 samples in excess of 500 ppb gold. (See figure 1 attached).
These two anomalies, which are both on the Komoé Permit, represent kilometer-scale
gold targets that will be tested with single sample and multi-sample auger drilling
techniques, the same methodologies that led to the gold discovery at Diba on Etruscan’s
large land holdings in Mali West. Much of the terrain at Banfora is covered by laterite
and Etruscan’s auger drills have proven to be a very reliable sampling tool to effectively
delineate gold mineralization in the underlying bedrock/saprolite. Single sample
augering, scheduled to commence in December, will obtain samples of saprolite just
below the lateritic crust and multi-sample augering will obtain a series of samples in a
drill hole to approximately 30 meters depth.
Sample density at Baboro and Siniko was previously reported at 250 meters by 100
meters, and has now been completed at a sample density of 125 meters by 50 meters.
The in-fill sampling has confirmed continuity of the gold anomalies and has detected
higher values than previously reported. The Baboro target occurs along a contact between
mafic and felsic intrusive rocks with rock samples up to 64.6 grams per tonne gold. The
Siniko target is hosted by sediments and schist with rock samples up to 1.3 grams per
tonne gold.
Don Burton, Etruscan’s VP Exploration stated:
“Following our recent discovery in Mali West at Diba, we are very pleased to now see
our regional targets in Burkina Faso advancing to drill-ready status. Over the last 18
months, our exploration team in Burkina Faso has done an excellent job of systematically
exploring this large regional land package which comprises just over 1,400 km2. They
have identified eight high priority targets from the regional soil sampling program and
the Baboro and Siniko targets are now clearly defined with the in-fill sampling. The next
objective is to confirm gold mineralization in bedrock/saprolite with the auger drill. Field
teams will continue with in-fill sampling on the remaining six targets as we await
delivery of the auger drill to site.”
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The remaining six targets are situated on the Finkéré, Tiéfora and Kangounadéni permits:
Finkéré Permit:
The Lagnin target area is 1 kilometer long and up to 500 meters wide. Sample
density is on a 125 by 50 meter grid. The target occurs along a contact between
deformed granodiorite and volcano-sediments parallel to a regional arsenic
anomaly that extends for over 20 kilometers in strike length with soil samples up
to 3,910 ppb gold.
The Natié target area is 2 kilometers long and up to 600 meters wide. Sample
density is on a 500 by 200 meter grid. The target occurs in schists and sediments
coincident with a regional arsenic anomaly that extends for over 20 kilometers in
strike length, with rock samples up to 3.2 grams per tonne gold.
The Nandrefa target area is 1 kilometer long and up to 250 meters wide.
Sample density is on a 250 by 100 meter grid with soil samples up to 524 ppb
gold. The target occurs along a probable contact between granodiorite and mafic
volcanics.
The 2R target area comprises a series of zones over a 2.5 kilometer long
strike length up to 300 meters in width. Sample density is on a 250 by 100
meter grid with soil samples up to 1,297 ppb gold. The target occurs in schist and
sediments coincident with a number of old gold digging sites and quartz veins.
Tiéfora Permit:
The Nayarara target area comprises a series of zones over a 5 kilometer long
strike length up to 400 meters in width. The sample density is on a 250 by 100
meter grid with soil samples up to 797 ppb gold.
Kangounadéni Permit:
The Nayarara South target area is an extension from the Tiéfora Permit and
comprises a series of zones over an additional 5 kilometer long strike length
up to 300 meters wide. Sample density is on a 250 by 100 meter grid with soil
samples up to 1,140 ppb gold.
All gold analyses on rock samples were performed by Abilabs Laboratories at Bamako,
Mali using standard 50-gram fire assay procedures. Soil samples were analysed using
standard aqua regia geochemical techniques at Abilabs Laboratories at Bamako, Mali and
at SGS Laboratories at Ouagadougou, Burkina Faso. K. Kirk Woodman P. Geo.,
Etruscan’s Chief Project Geologist, is the Qualified Person overseeing Etruscan’s
exploration programs in West Africa.
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Etruscan Resources Inc. is a diversified Canadian junior mining company focused on acquiring dominant land positions in district scale gold
and diamond belts within Africa. Etruscan has an aggressive exploration strategy and now holds strategic land positions in a number of gold
belts covering over 10,000 km2 in five countries in West Africa. The Company also holds a dominant land position in the Ventersdorp alluvial
diamond district in South Africa. 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: [email protected]
Tony Hayes, email: [email protected]
Tel: (877) 465-3674/ Fax (902) 832-6702
Tel: (866) 638-3338 /Fax (905) 468-8407
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 forwardlooking statements.
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS RELEASE
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ETRUSCAN RESOURCES INC.
Figure 1
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November 27, 2006
Banfora Gold Belt, Burkina Faso
Regional Soil Targets and In-Fill Results from Baboro and
Siniko Target Areas
SOIL SAMPLES
(ppb Au)
>500
2 km
200 – 500
100 – 200
50 – 100
25 – 50
--- geologic contact
Baboro Target Area
SOIL SAMPLES
(ppb Au)
>500
200 – 500
100 – 200
50 – 100
25 – 50
--- geologic contact
5 km
Siniko Target Area