A US$3.5-million financing will allow
The funds were provided by RMB Resources, a unit of Rand Merchant Bank of South Africa. Last fall, Etruscan’s African subsidiary initiated a comprehensive feasibility study for Samira Hill, part of which will include an infill drilling program. The company had planned to develop a heap-leach operation to process the oxidized saprolite portion of the deposit; however, metallurgical work on mineralized material from the deeper transition zone confirmed high gold recoveries with a traditional carbon-in-leach mill circuit. The CIL mill option is now viewed as the most financially attractive recovery process as it would allow for an expanded resource base. It also may provide upside potential for the processing of deeper sulphide resources. At last report, Samira Hill hosted 27.8 million tonnes grading an average of 2.02 grams gold per tonne to a vertical depth of 200 metres, plus numerous other targets yet to be tested fully.
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