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Etruscan Resources Inc.
Etruscan Resources is a mining company based in Nova Scotia, in Canada, that operates gold and diamond mines in Africa. Etruscan mines gold and diamonds in the West African countries of Burkina Faso, Cote d'Ivoire, Ghana, Mali and Niger. The company is active in the South African diamond industry.
The stock of the company is listed on the Toronto Stock Exchange, under the symbol "EET".
Gold Mineralization Extends Across Diba Anomaly
Etruscan Resources Inc. (TSX: EET) announced results from rotary air blast (RAB) drilling at its Diba project in West Mali. The results confirm that gold mineralization extends across the 2.5 km strike length of the anomaly. Etruscan is now deploying an RAB drill rig to Kobokotosou, the second of four targets in West Mali. The Diba project is only one of over a dozen targets the company has identified in West Africa.See full report.
On Schedule to Complete Feasibility in 2007
Etruscan Resources Inc. (TSX: EET) reported partial results of its 2006 drill program on its Agbaou project in Côte d’Ivoire.Drill results were in line with the results of the 2005 drill program, not with the expectation of increasing numbers of ounces, but with the purpose of upgrading historic resources to reserves. We would expect that upon completion of the drill program that the company will focus on its nearby Didoko target to increase the resources to feed a central mill facility...See full report.
Upgrade Follows Analyst Day
We attended Etruscan Resources Inc.’s (TSX: EET) Analyst Day last week visiting two of its projects in West Aftrica. The trip included an inspection of EET’s Youga project currently under construction in Burkina Faso and exploration activities at its Diba exploration target in West Mali. We are increasing our rating to Strong Buy from Buy and are retaining our 12-month price target of C$8.00 per share and our High risk assessment. Overall, the increase in our rating is due to a higher confidence level in the company’s ability to successfully complete catalysts in the next 12 months important to our investment thesis which include:See full report.
Diamond Drill Core Confirms Discovery in Mali
Etruscan Resources Inc. (TSX: EET) received initial assay results on diamond drill core from its Diba property in Mali. The Diba project is 15 km south of the Sadiola Gold Mine. Drilling covered only 10%, in the southern end, of the Diba anomaly which is approximately 300 to 500 meters wide and 2 km long. EET has a 1,300 km² land package in Mali and the largest land position of any mining company in West Africa.See full report.
Etruscan Resources Introductory Report
Etruscan Resources Inc. (TSX: EET) has a 10,000km² land package in West Africa, the largest of any mining company operating in Niger, Burkina Faso, Côte d’Ivoire, Mali, and Ghana. EET’s exploration concessions are contained within prospective greenstone belts known for hosting gold deposits. EET has a joint venture in one operating mine plus diamond concessions in South Africa. The company intends to become a dominant mid-tier mining company in West Africa. Milestones and catalysts for appreciation in the next 12-months include:See full report.
