Youga drilling firms up resource (July 05, 2004)

Drilling has proved that the gold deposits at Etruscan Resources‘ (EET-T) Youga property in Burkina Faso are bigger and richer than previously thought.

Infill drilling of the A2 main deposit (22 holes) helped define the centre of the deposit to a 25-by-25 metre density. Fifteen holes contained intercepts grading 5.2-21.8 grams gold per tonne over widths of 4.1-51.9 metres. Three of these holes intersected 21.2-21.8 grams gold over 6.4-7.4 metres. The hole with the lowest assays intersected 7 metres with an average grade of 1.8 grams gold.

The A2 main deposit outcrops at surface, trends north, and plunges to the north at about 30. A high-grade zone along the hangingwall contact dips steeply. Gold mineralization is associated with strongly silicified, fractured arkose intersected locally by quartz stockwork. Visible gold is common in the high-grade zones.

The deposit was found to be continuous where it plunges to the north. A gold grade of 2 grams per tonne over 50 metres was intersected at a down-hole depth of 146.6 metres.

Seven holes tested the northwestern zone, situated near the northwestern corner of A2 main. The quartz stockwork and veinlets in the area strike northwest. Four holes contained intercepts that graded 6.7-10.7 grams gold per tonne over widths of 3.4-7.8 metres. One hole intersected 1.9 grams gold over 10.5 metres. The zone extends for at least 150 metres.

Fifteen holes tested the southern extension of the A2 main deposit. The drilling extended the deposit 100 metres farther south along strike. The highest grades intersected in one hole were: 35.4 metres grading 5.7 grams gold, including 11.6 grams gold over 11 metres. Ten other holes contained intercepts that graded 1.3-6.7 grams gold over widths of 5.9-33.5 metres. One hole failed to intersect significant gold.

Eight holes tested the A2 east deposit, 400 metres east of the A2 main. These holes tested the deposit over a 250-metre strike length, and two holes drilled 200 metres to the east of the A2 main intersected grades of up to 2.9 grams gold per tonne over 6.8 metres.

“With more detailed drilling, we may be able to link the A2 main and east deposits,” says Donald Burton, Etruscan’s vice-president of exploration.

The A2 west deposit, 2.3 km southwest of the A2 main deposit, is 70 metres wide and up to 20 metres thick at its western end; it plunges gently to the east for at least 300 metres. To the east, the zone dips steeply north and extends for at least 300 metres. Diamond drilling resulted in high-grade intercepts in nine holes from 4.96 to 8.95 grams gold per tonne over widths of 5.8-24.7 metres intersected primarily from surface to a maximum depth of about 30 metres down-hole. Fifteen other holes intersected 1-5.2 grams gold over widths of 1-23.5 metres. Trenching and reverse-circulation drilling also tested this zone.

Cayman Burkina Mines, a wholly owned subsidiary of Etruscan, owns a 90% interest in Burkina Mining; the government of Burkina Faso holds the remainder. Burkina Mining holds the permits required to mine the Youga deposits.