NEWS ROUNDUP — Echo Bay buys Etruscan shares

Denver-based Echo Bay Mines (TSE) intends to buy 192,308 common shares of Etruscan Enterprises (VSE) at $2.60 per share.

Proceeds of $500,000 will be used by Etruscan to explore the Koma Bangou gold property in Niger. The junior also granted Echo Bay a 60-day exclusive right to evaluate Koma Bangou for the purpose of striking a possible deal. The most advanced gold property in Niger, Koma Bangou, has a geological reserve of 11.5 million tons grading 0.087 oz. per ton, which has been outlined to a vertical depth of 230 ft.

Etruscan has completed 31,000 ft. of reverse-circulation drilling, initial results from which indicate a substantial increase in gold grade and width at depth.