The Tiawa gold concession in Niger, acquired last year by Etruscan Enterprises (EET-V), is proving to be as valuable an asset as the company’s stake in the nearby Koma Bangou concession.
An estimate, based on 6,500 metres over 25 diamond drill holes, pegs the Tiawa’s Samira deposit at 20.7 million tonnes grading 2.9 grams gold per tonne, or 1.9 million oz. gold. The resource was calculated on a strike length of 600 metres with an average width of 50 metres and a downdip depth of 300 metres.
Diamond drilling continues along the structure to the east, west and downdip.
Etruscan also reports that the exploration in the Boulon Djounga area of the concession continues to return encouraging results. Gold was first discovered there in 1989 by artisanal miners. Active gold diggings now cover an area of 4 sq. km.
Airborne geophysical surveys have revealed a prominent, northeast-trending, electromagnetic and magnetic anomaly passing through the diggings. Etruscan is carrying out an induced-polarization (IP) survey in the central portion of the diggings and has defined a coincident, strong chargeability high and resistivity low (similar to the IP response at Samira) for a strike length of 4 km. A strong gold geochemical anomaly is also coincident with the IP anomaly, and a sampling program at the artisanal workings is returning gold values of between 0.5 and 18 grams per tonne. The work, in preparation for drill-testing, is intended to determine the full strike length of the structure.
Etruscan holds a 56% interest in African Geomin Mining Development, the owner of the Tiawa concession.
Meanwhile, at the nearby Koma Bangou gold project, on which Etruscan is operator, a feasibility study is in progress, to be completed by the third quarter. Following the study, Etruscan will hold a 23% interest in the project, while Echo Bay Mines (ECO-T) will hold 44%. The Niger government will hold the remaining 33%.
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