High grade gold cut at Finkolo

Etruscan Resources (EET-T) has once again cut high grade gold at its Finkolo gold project in southeast Mali.

Drilling was highlighted by one hole, which cut 4 metres grading 159 grams gold per tonne in the Tabakoroni zone.

Another cut the Porphyry zone, resulting in a 5-metre intercept grading 4.3 grams gold per tonne.

Drilling targeted high-grade gold intersections cut in earlier programs, in an attempt to confirm the orientation of the mineralization.

In 2003, Etruscan cut 20 metres grading 17.1 grams gold per tonne in the Tabakoroni zone and 38 metres grading 6.4 grams gold per tonne in the Porphyry zone.

In total 8 holes (1,324 metres) were drilled. The high grade at Tabakaroni appears to be plunging north. Mineralization cut in the Porphyry zone was significantly narrower than what was cut previously and it is now thought that drilling was previously oriented sub-parallel to the zone.

Australian-based Resolute Mining is earning a 50% interest in Finkolo by spending US$2 million on exploration by the end of next March. Resolute may earn an additional 10% interest by either spending a further US$1 million on the permit or completing a feasibility study within two years following its initial earn-in.

The Finkolo permit is contiguous, and south of, Resolute’s Syama gold deposit.

At the end of June of last year, Syama had proven and probable open pit reserves of 12.8 million tonnes grading 3.9 grams gold per tonne, at a cutoff grade of 1.75 grams gold per tonne. In addition Syama had a measured and indicated resource of 32 million tonnes grading 3 grams gold per tonne.

Results from a detailed airborne magnetic and radiometric survey are helping to define targets along the Finkolo project’s 25-km strike-length overlying the Syama Shear.