Etruscan hits gold at Datambi property

Junior Etruscan Resources (EET-T) has received encouraging results from reverse-circulation drilling at its Datambi permit in eastern Burkina Faso.

The first 17 holes of a 2,000-metre program that tested the Songori zone returned up to 11.58 grams gold per tonne over 6 metres (from 15 to 21 metres). That intersection is part of a wider, 25-metre envelope of mineralization that averaged 3.58 grams gold.

Other mineralized intersections varied from 0.61 to 5.15 grams over 5 to 40 metres, with some of these containing shorter intervals of between 1.7 and 8.41 grams.

Gold mineralization is associated with quartz veining and silicification along the contact between mafic volcanics and sedimentary units. A coincident, 1-km-long, geochemical gold anomaly at surface suggests the zone may continue beyond its currently known strike length.

Holes were collared on fences spaced 50 metres apart and were drilled to a vertical depth of roughly 75 metres. Results are still pending for the final five holes.

Etruscan holds a 45% interest in the 269-sq.-km concession and has the option of acquiring the remainder.

In other developments, Etruscan has ended its pursuit of Channel Resources (CHU-T) after its 1-for-4.5-share offer expired in late July.

Etruscan had secured a lock-up agreement with Channel’s major shareholder, Viceroy Resource (VOY-T), which holds 26% of Channel. However, its efforts to obtain the remainder appear to have been impeded by comments from Channel’s chairman, Ross Fitzpatrick, who described his company’s shares as “undervalued” and those of Etruscan’s as “overvalued” relative to other juniors.

Etruscan says it will neither extend nor improve its original offer.